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Sometimes the best approach is to think about yourself. Decreasing on decease capital life annuity allows you to turn all your invested savings into a stable and constant income for the rest of your life.
A fixed income for your entire life.
Enjoy a higher income
The income received is higher than with other life annuities because you can use all the capital invested.
The minimum amount is €30,000 as a one-time investment (premium) without any additional contributions.
Available from age 55
You can take out a decreasing capital annuity if you over 55 but under 85.
You choose how you receive the annuity
You can opt for a monthly, quarterly, half-yearly or annual income.
Optimal fiscal treatment
Up to 92% tax exemption, depending on the age of the annuity.
For your family as well
Since this is a unit-linked insurance policy, if you die your beneficiaries will receive the amount that has not been used as income.
Terms and conditions
Terms and conditions
You can take out the product from 55 years up to 85.
The minimum amount is €30,000 in a one-time investment (premium) without any further contributions.
The income is paid out annually at least, depending on your choice, and you start to receive it the year after it is arranged.
As it is a life unit-linked insurance policy, it does not have a set duration. The income is maintained over the whole life of the insured party as long as the product is maintained.
Taxation of income received
The amounts received in the form of income will be considered as income from movable capital and the tax rate will depend on the policyholder’s age at the time the policy is taken out:
55-59 years: 28%
60-65 years: 24%
66-69 years 20%
from 70 years on: 8%
Insurance policy beneficiaries
As it is an insurance policy, you can specify who you want to put down as beneficiaries. If you do not do this, the beneficiaries will be your legal heirs.
What happens when the policyholder or beneficiary of the income dies?
The difference between the premium initially paid and the gross income received shall be paid to the designated beneficiaries.
Can I redeem this type of life annuity?
You are not advised to redeem the premium/investment, as it may mean a loss against the initial premium. But you can ask to do so—redeem the whole premium/investment—after one year has passed since you opened it.
In this case, you would receive one of these amounts, whichever is lower: a) 99% of the death capital which applied upon redemption. b) The market value of the assets in your portfolio.
Can I make additional contributions after purchasing an annuity?
Life annuities do not allow you to make additional contributions to the initial investment, but you can open another life annuity.
Can I change the frequency of benefits once I am receiving them?
No. Once the contract is in force, the frequency cannot be changed.
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Bankinter, S.A., as a BANCASSURANCE OPERATOR with registered office at 29 Paseo de la Castellana (28046 Madrid), recorded under Volume 1857, Folio 220, Page 9643 of the Madrid Companies Register, holder of TIN A-28157360 and registered with the special administrative registry of the General Directorate of Insurance and Pension Funds at the Ministry of the Economy and Finance (44 Paseo de la Castellana, 28046 Madrid), http://www.dgsfp.mineco.es, under the bancassurance operator code OV-0028, has taken out the civil liability insurance required under Article 152 of Royal Decree-Law 3/2020 of 4 February on urgent measures, which incorporates into Spanish law various directives of the European Union concerning public procurement in certain sectors: private insurance, pension plans and funds, and taxation and tax litigation. The bancassurance operator has entered into insurance agency agreements with the institutions specified in the following link.
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Basic data protection information. Bankinter Seguros de Vida, S.A de Seguros y Reaseguros will process your data for the following purposes: (i) in compliance with legal obligations; (ii) for the comprehensive and centralised management of your insurance contract; (iii) to ask doctors and healthcare providers to supply the data and medical history required to prepare the contract and protect your interests; (iv) to analyse and develop profiles to ensure the correct execution of the insurance contract; and (v) to contact you with information about products or services that may be of interest to you since they are similar to the ones you already have with us. To be able to inform you about the products and services mentioned above, we will analyse your personal data to create a profile that will allow us, by whatever channel we may use to reach you, to tailor our commercial announcements as closely as possible to your needs, tastes and preferences. Please also refer to the additional information about data protection prepared by Bankinter Seguros de Vida, S.A. de Seguros y Reaseguros.
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