Life insurance: what if I want to take back my funds?

Life insurance: what if I want to take back my funds?

A life insurance contract is established over time. However, the money you have paid is available and it is possible to recover your funds. Here are the three options available to you.


The closing of the contract or total repurchase
By choosing to close your life insurance policy, you opt for a recovery of your funds at one time. This choice is final, you will not be able to subscribe to a new contract by optimizing immediately its taxation. You find all of your assets but you can lose significant benefits during an estate, so think twice before taking this option.


The partial purchase of your life insurance
You do not have to close your life insurance to recover your capital. This can be done in part only. You can let the other party continue to grow and keep its tax advantages acquired. This option allows you to supplement your retirement or to face unforeseen expenses for example.


Transformation of the contract into a pension
This option allows you to convert all or part of your savings into an amount that will be paid periodically until the end of your life. This choice does not allow you to go back, but it ensures you a constant income as long as you are alive. This life annuity is a good option, especially if you have centenarians in the family!

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