Each month, the “big savings meeting” (capital / radio heritage) answers your questions in the “your questions, our answers” sequence. Our experts – notaries, taxpiens, heritage advisers – support you on all your financial issues. Today, Patricia wants to know if she can cancel or recover her money quickly after taking out life insurance. A choice she regrets because she fears that her money will be blocked for 8 years.
Good news for Patricia: Contrary to popular belief, life insurance is a liquid investment, that is to say that savings are available. “She can have her money as she sees fit, at any time, even before 8 years old”recalls Benoist Lombard, president of Maison Laplace and deputy managing director of the Crystal group.
There is also a legal period of 30 days to renounce
The famous 8 -year maturity is not a compulsory minimum duration, but simply the time from which the taxation of the gains becomes more advantageous. In the event of withdrawal before 8 years, Patricia can recover the entirety of its capital (less possible costs) and only the gains – if there are one – will be taxable to the single flat -rate levy (PFU or flat tax) of 30%.
Another option for Patricia, if she changed her mind quickly after subscription: “It is possible to renounce the contract within 30 days from the signature. The insurer must then fully return the capital paid ”specifies our guest. In summary, life insurance is not a blocked product. Patricia can therefore decide at any time to withdraw all or part of her savings, even if she does not yet benefit from the maximum tax advantages. And if it is still within 30 days of signature, it can even purely and simply cancel its membership.
