How to unlock money placed in its life insurance contract?

How to unlock money placed in its life insurance contract?

How much can we win on Prime Advantage?

The money placed in life insurance contracts is not as blocked as we might think. There are 4 ways to dispose of its savings: the total redemption, partial withdrawal, advance and pledge.
Total redemption of its life insurance contract

The total redemption must appear in the general conditions of a life insurance contract. It ends the contract definitive. Only the subscriber may request it at any time during a contract (except in case of acceptance and except in certain cases) and receives the value gained in management. This value, if it is increased by capital gains, is taxable. A redeemed contract can no longer be reopened.
Partial withdrawal

Partial withdrawal is in no way compulsory under the general conditions of a life insurance contract. Some contracts may not propose it. The contract continues. Only the subscriber may request it at any time during a contract (except in case of acceptance) and receives part of the value gained in management, which will be definitively subtracted. This value is taxable. The revaluation of savings is calculated on the remaining fraction after the withdrawal. To be considered partial, it must remain a minimum in account, this minimum differs from one insurer to another.
Advance

The advance is in no way compulsory under the general conditions of a life insurance contract. Some contracts may not propose. The advance is a loan granted to the subscriber on its own capital and its amount is capped at 80% of the savings invested in contracts in € and 60% for contracts in units of account. The contract continues. Only the subscriber may request it at any time during a contract (except in case of acceptance) and receives part of the acquired value in management, which will be refunded (maximum after 3 years) with interest (average rate State borrowings - plus a point more potential fees *). This value, even increased by capital gains, is not taxable. The revaluation continues to calculate on the same amount as that which was in account before the advance.

* Some insurers compare the TME + 1% rate with the rate of return on their contract in € of the previous year and applies the highest rate of both.

For all contracts: if an advance is not reimbursed before the death of the insured, it is deducted from the transmitted capital.

For fixed-term contracts: if an advance is not reimbursed before the end of the contract, the tax administration requalifies partial withdrawal.
Pledge

Pedication is mandatory under the general conditions of a life insurance contract. The contract continues and it remains intact. Only the subscriber may request it at any time during a contract (except in case of acceptance) and he uses a part or all of the value gained in management to put it back guarantee of a credit to his creditor. This guarantee, which can not be greater than the amount in management, will depend on the type of asset (security, balanced, dynamic) on which saving is valued. Several nursing can be consented to the same contract. The subscriber can no longer have the amounts into account as long as he has not repaid credit plus interest.

This operation is the perfect example of beneficiary acceptance.