Private Bank - Estate duties

For premiums paid before the age of 70

Tax relief of €152,500 per beneficiary applies to the death benefit, for premiums paid before the age of 70. Above this sum a rate of 20% is payable.

For premiums paid after the age of 70

Premiums paid after the age of 70, up to €30,500 together with the total interest corresponding to these premiums, shall be passed on to the beneficiaries exempt of death duties.

Please note: since the law of 21st August 2007, transmissions through life insurance policies are exempt from tax when the beneficiary is the partner, or between siblings under certain conditions.