You can apply for a capital annuity from the age of 55 to 85 years old.
You can arrange a capital annuity from €30,000.
Know the interest rate in advance. Interest will be fixed, guaranteed and permanent.
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.
There are two types of guarantee for two different cases.
- During the life of the insured: this product assures you a fixed and constant income throughout your life or until it is redeemed.
- In the event of death: if the insured party dies within the first two years after taking out the product, 100% of the investment or premium paid will be received. From the third year on, 100% of the investment/premium paid plus 1% (maximum 4,000) of the amount of the investment/premium paid.
Although this product is designed to accompany you throughout your life, you can request the redemption of the premium/investment from the first year after it is arranged. Such redemptions are always total.
If you cancel the product, the amount redeemed may be less than the amount initially contributed and you will have to repay to the Tax Agency all the income that would have been tax-exempt.
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.
Payments received are treated as capital gains and are subject to withholdings at the current rate in the respective autonomous community. The percentage personal income tax on annuities depends on the age of the investor or insured party when the policy is arranged:
Between 66 and 69 years
Between 60 and 65 years
Between 50 and 59 years
Between 40 and 49 years
Under 40 years old
In the event of death, the payments received by the beneficiaries will be subject to Inheritance and Donations Tax.