here are the 3 solutions to recover your saved money


Life insurance and lambda savings are not fundamentally different. The savings that interest us are more of a form of long-term investment. But contrary to what savers may believe, the funds are not blocked for 8 years, 2 years, or even 3 months. It is simply the taxation of life insurance that becomes more interesting after the 8-year period. According to several specialized magazines such as Engagement for all, Bourso-campus or Clearly, there are three exit doors for capital from such contracts. The first is the total redemption, the second the partial redemption and the third is the transformation of life insurance into a life annuity. Objeko takes stock with you of the different ways to recover the money saved from this long-term investment. And we will also see how to recover the money from a life insurance of which we have been designated beneficiary.

Life insurance: how to “unlock” the funds from this savings?

When you take out a life insurance contract, the process is undoubtedly simpler than when you have been designated beneficiary. But in both cases, it is quite possible to “unblock” the capital. And if Objeko allows himself to put the term “unblock” in quotation marks, it is because in fact, the money is not blocked strictly speaking. This word can be confusing, but in life insurance, the funds invested can be withdrawn at any time. All you have to do is make a request for total or partial “redemption”. And here again, the term “repurchase” does not mean that you will pay the slightest euro to achieve your ends. It is simply a “withdrawal” of money from your contract.

You can ask to recover part of your life insurance savings at any time. This amount will include part of your payouts and part of your earnings. The rest of your savings will continue to work for you. Thus, you do not lose the tax advantages of the seniority of the contract. Because, any capital gain of the funds of a life insurance of more than 8 years can be tax-exempt.

Recovering all the capital from your life insurance means closing your contract. The tax precedence is then lost and the contract destroyed. But you get all your invested money back.

Transforming your life insurance into a lifetime pension means exchanging all or part of your savings for regular, fixed income. This income is committed until the death of the owner of the contract even if it breaks longevity records. Once converted into a life annuity, the life insurance no longer belongs to you.

Administrative procedures to “release” your funds

To recover all or part of your savings, you must complete a “redemption request” form. It will be provided to you by the underwriting establishment of your life insurance contract. Then return the form and the necessary supporting documents by post with acknowledgment of receipt.

The time to recover your savings funds is one month on average. Corn Objeko tells you that it may take longer depending on the various life insurance companies. This is why it is advisable to make sure to present a complete file.

“Unlock” life insurance of which you are the beneficiary

Life insurance may have been taken out by one of your relatives. And on his death, recovering the contract of which you are the beneficiary can be tricky. Indeed, although it is counter-intuitive, it is often up to you to contact the deceased’s insurance organization to introduce yourself. A law provides that organizations must be proactive in locating beneficiaries. But in reality, it is better to take the lead. If you have been informed while living out of pocket that you are the beneficiary of life insurance belonging to him, contact the insurer yourself.

Contact the establishment by mail, adding the death certificate of the insured. Also attach a copy of your identity document or your family record book. Then you will receive a file to be completed by the organization that holds the life insurance contract. In this file, most of the documents you will need are usually found in the deceased’s papers. In particular proof of the existence of the contract such as an annual statement or a membership form. But you will also have to remember to attach your RIB. With a complete file, the insurer will pay you the savings capital within one month. Exceeded this period, he is liable to the payment of late payment interest at twice the legal rate for two months. Then triple if necessary, but only if the file is complete.

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