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Decreasing on Decease Capital Annuity
Your quality of life today, tomorrow and always.
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.
Also for your family
Since this is a life-savings insurance policy, if you die then the people you choose would receive the amount that had not been used as income.
You can take out the product from 55 years up to 85.
The minimum amount is €30,000 in a one-time premium without any further contributions.
You can choose from the following annuity payment options: monthly, quarterly, half-yearly or annually. The start date will depend on the frequency chosen. For example, in the case of monthly payments, the first income will be received the month following its arrangement.
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:
Age when constituting the income
% of income exempt from taxation
% of income considered capital gains
Over 70 years old
Between 66 and 69 years
Between 60 and 65 years
Between 50 and 59 years
Between 40 and 49 years
Under 40 years old
Insurance policy beneficiaries
As this is life-savings insurance, you can specify the beneficiaries. This will help you to plan and manage the inheritance of your financial assets.
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?
The ideal scenario is not to have to redeem the product, since its purpose is for life. It can be redeemed from the first year but this may mean recovering an amount less than that initially contributed, in addition to having to repay the Tax Agency all the income that would have been tax-exempt.
If redeemed, the receivable amount would be the lesser of:
99% of the death capital in force at the time of the redemption.
The realisable market value of the assets subject to the policy at the time of redemption: the insurance company will invest the premium in fixed income products, mainly debt issued by governments and other public institutions in the Euro Zone, as well as private fixed-income assets from issuers in the Euro Zone. In the event of redemption, a divestment will be necessary, transferring the amount of this to the customer if it is less than the initial value.
Can I make additional contributions after contracting an annuity?
Life annuities do not allow you to make additional contributions to the initial premium, but you can open another life annuity.
Can I change the frequency of benefits once I am receiving them?
No, it is not possible to change the frequency of the benefits once the life annuity has been set up.
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Bankinter Seguros de Vida, SA, de Seguros y Reaseguros, sold through Bankinter, S.A. as the related 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 information about data protection. 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 information published by Bankinter Seguros de Vida, S.A de Seguros y Reaseguros.
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