Do you think that a single life insurance policy is enough to manage your savings? In reality, more and more savers prefer to open several. According to the latest figures from France Assureurs, 20 million French people held at least one in 2025, for a total of 57 million contracts. Or 2.8 per person, for an average amount of around 37,000 euros each. Of course, this is only an average: many contracts only amount to a few thousand euros while others exceed several million.
One thing is certain: savers have understood that it is possible to open several life insurance policies, unlike certain regulated products such as Livret A, PEL or PEA. It is even a recommended wealth strategy.
Don’t depend on just one insurer
First advantage of multi-ownership: not remaining dependent on a single insurer. Confining yourself to a single offer means risking an uncompetitive euro fund without being able to get out of it. However, the differences are far from negligible: in 2025, the returns on capital-guaranteed funds will range from less than 2% to more than 4% for the best.
Another advantage: access to a greater variety of media. Some life insurance policies are limited to a few in-house funds, while others provide access to various investments: ETFs with reduced fees, SCPIs, structured funds, etc. With several envelopes, you can arbitrage, benefit from possible commercial bonuses and keep control of your allocation.
Finally, this strategy allows you to segment your savings according to your projects. One contract can be dedicated to retirement, another to children’s studies, a third to a real estate purchase. Each envelope is then managed according to its horizon and its level of risk, without disturbing the others. Note that a new generation of so-called “multi-pocket” contracts makes it possible to manage several allocations within the same contract, as with Nalo or Yomoni, but these offers remain rare.
Taxation and inheritance made easier
From a tax perspective, the logic is just as convincing. Life insurance benefits from an advantageous tax regime after eight years of ownership. By opening them on different dates, you create several distinct tax envelopes and can make redemptions on one while letting the others grow.
Multi-ownership also simplifies transmission. Opening them by beneficiary or group of beneficiaries makes it easier to draft clauses. Furthermore, after the age of 70, if you have money to invest, it is advisable to take out a new contract rather than adding to an existing contract: payments made after this age obey specific tax rules, with an overall reduction of 30,500 euros. Isolating them in a dedicated contract simplifies estate management.
Finally, spreading your savings between several insurers offers increased protection. The Personal Insurance Guarantee Fund covers up to 70,000 euros per insurer and per person, and not per contract. If the failure of a French insurer remains very unlikely, increasing the number of establishments mechanically extends this coverage.
There remains a principle of common sense: diversify without spreading yourself too thin. In practice, two or three contracts opened at different times and with different insurers are sufficient in most cases.
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