Due to the aging of the population and numerous governmental savings, the capacity of our social security is slowly but surely coming under pressure. It is therefore important to safeguard your financial carelessness and that of your relatives as much as possible yourself.
Pension savings and taking out a balance of credit insurance are a must. They guarantee long-term financial protection without paying your blue. But is a debt balance insurance also fiscally complementary with pension savings? We sorted it out for you.
Debt balance insurance and pension savings: tax assets
Debt balance insurance and pension savings have a number of essential characteristics in common. Both not only offer financial protection in the long term, they are also tax deductible . Although certain conditions are attached to it.
For example, you must take out the balance insurance before the age of 65, the beneficiary must be the person who has full ownership or usufruct of the home, and the balance insurance must be taken out on your own.
ConditionsDifferent conditions also apply to pension savings. For example, the term of the savings account or savings insurance must be at least ten years and the above age limit of 65 also applies.
Debt balance insurance in fiscal basket of pension savings
Whether it is advantageous to tax your debt balance insurance tax depends on your specific situation. Have you decided to go for the tax reduction anyway? Even then there are several options. You can enter the premiums of the outstanding balance insurance in two ways:
- Under the tax system of the home loan : There is a good chance that the tax basket in this system is already filled by the capital repayments and interest on your home loan. Unless you have taken out your home loan by the end of the year. In that case, it may be useful to enter a one-off premium and thus fill the fiscal basket.
- Under the tax system of pension savings : This system is completely independent of the tax basket for long-term savings. For example, it is still possible to enter the premiums from your outstanding balance insurance, even though the basket of the home loan is 100% full. ATTENTION: the pension saving basket does not have to be filled yet and you are not considering any other form of saving in the future.
Please note: in both cases the final payment of the insured amount is taxed. Whoever wants to leave the surviving relatives the largest possible amount, can therefore consider not to contribute the premiums of his debt balance insurance.
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