Property & Benefit Plan
A lifetime annuity for you, a legacy for those you hold dear
Are you over 50 years of age? And do you want to enjoy your retirement in a financially comfortable way without disadvantaging your children or someone dear to you? Then opt for the Property & Benefit Plan, an individual life insurance (branch 21) with a one-off premium and two components: the Property component ensures that you retain your investment (excluding tax) for your dependents and the Benefit component offers you a lifelong supplementary income. The contract has no end date and will only terminate upon your death.
You are in control
You can choose the person who will receive the net premium invested after your death. Do you fear that the capital will be misspent? No problem, as long as the person has not accepted the nomination, you can still designate someone else.
Property component provides security
This component ensures that in the event of your death, the invested net premium is paid to the person you have indicated as your beneficiary.
Benefit component provides income for life
With this component, your minimum income for the rest of your life is clear. This is determined on the basis of the guaranteed interest rate and various factors, such as your age. Potential profit-sharing from AG Insurance will be added to your income so that you receive a higher income for the rest of your lifetime. The payment of income will terminate upon your death.
You decide
You choose how much you want to invest. For a single total investment of EUR 25,000 you will be eligible for a monthly, quarterly or semi-annual income, and for a single total investment of EUR 6,250 you are eligible for an annual income.
Favourable tax regime
Benefit from the favourable tax regime of this savings insurance (see also section Taxation).
Combine this with a gift
You can already gift a portion of your assets to your loved ones during your lifetime. A gift from hand to hand allows you to maintain an income from the gifted capital or ensures that the gifted capital is reinstated to your wealth in case the recipient of the gift dies before you.
What is in it for you?
- A monthly, quarterly or semi-annual annuity, determined at the inception of the contract.
- A guaranteed interest rate: 1.50% of the net premium invested.
- Potential future bonuses as a result of profit-sharing that will be added to your income. The new income amount remains valid for life.
- After your death, your beneficiaries receive the invested net premium.
Taxation
Insurance tax: only 2% of the premium paid.
Withholding tax: In case of redemption of the Property contract or both contracts within the first 8 years of your contract, a withholding tax of 27% is levied. For the benefit component, an annual tax of 27% (plus municipal tax) applies to 3% of the capital value of the income. In the event of death, inheritance tax may be levied.
This tax regime applies to private investors in Belgium and may be subject to change. Other categories of investors are requested to inform themselves about the tax regime applicable to them.
Fees
Entry fee: 4.51% of the net premium invested.
Exit fee: No redemption fees upon death.
Redemption fee: 5%. The redemption of the Property contract or both contracts is possible. However, the redemption of only the Benefit contract is not possible.
How can you track your Property & Benefit Plan?
You will be informed in writing of any increase of your income. Easy Banking Web allows you to consult the current state of your contract at any time.
What are the risks involved when taking out this savings insurance?
This product is covered by the Guarantee Fund on the basis of the protection regime applicable to branch 21 products. It comes into effect in case of prolonged failure of AG Insurance and currently covers a maximum amount of EUR 100,000 per policyholder, per insurance company. In the case of larger amounts, only the first EUR 100,000 are guaranteed, and the saver risks partially or completely forfeiting the excess amount.
Learn more about how you can protect your investment in a savings insurance.
Want to know more?
Notice: the investor must take note of the general terms and conditions before making an investment decision.
Legal information
The Property & Benefit Plan is a savings-based insurance (branch 21) from AG Insurance, under Belgian law, distributed by BNP Paribas Fortis. AG Insurance sa/nv – 53 Boulevard Emile Jacqmain, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0404.494.849 – www.aginsurance.be. Accredited insurance company licensed under code number 0079, under the supervision of the National Bank of Belgium, 14 Boulevard de Berlaimont, 1000 Brussels. BNP Paribas Fortis sa/nv, 3 Montagne du Parc, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0403.199.702, registered with the FSMA under n° 25.879A and acting as a contractually appointed insurance agent on behalf of AG Insurance sa/nv. For all your questions, contact any branch of BNP Paribas Fortis. In case of complaints, please contact BNP Paribas Fortis sa/nv - Complaint Management - Montagne du Parc 3, 1000 Brussels. Or refer to Article 21 of the General Banking Terms and Conditions; AG Insurance sa/nv, Service Complaints Management, E. Jacqmain 53, B - 1000 Brussels (Tel .: +32 (0) 2 664 02 00) or by email at: customercomplaints@aginsurance.be. If you are not satisfied with the solutions provided by BNP Paribas Fortis and AG Insurance, you can submit the dispute to: Insurance Ombudsman, Square de Meeûs 35, B - 1000 Brussels, www.ombudsman.as or by email: info@ombudsman.as.
