This is, without any possible doubt, the preferred investment of savers. Life insurance has seduced French men and women for a long time now… and is one of the the most used filing media in France. In truth, it is doubled only by the current account and is better positioned than the Livret A. All this, as has already been explained Planetis hardly surprising: it is a product cut to please.
“Life insurance is a bit strange product at the start but who ended up making his mark. Several tax schemes have favored over other investments and it benefited from poor French tools in terms of long-term savings. It was therefore not very complex to fill this void. However, it must be said, life insurance has not been particularly unworthy; even though this is not the investment of the century“, thus recalled the economist Jacques Bichot in our columns. And he continued, more concisely: “It’s the good long-term investment of the good family man“.
It is clear that the versatility of such an investment is largely its strength. Life insurance makes it possible both to prepare for retirement, to fuel precautionary savings… or quite simply to facilitate transmission. However, it must be used well to be effective. Particularly for those who would like to use it as a legacy.
In order not to be taken by surprise, it is therefore essential to fully understand how the beneficiary clause. It is she who allows (or not) to bequeath the sums placed on the contract to the heirs. But what is it, exactly?
Life insurance: what is the beneficiary clause?
“The beneficiary clause is the part of the contract which makes it possible to designate the person or persons who will receive capital upon the death of the insured, who is generally the subscriber”, writes the French administration from the outset on the public service website.
It is also important to note that it is theoretically not necessary for the subscriber to specify to the insured that he is the beneficiary of a life insurance contract. In practice, however, it is better to keep him informed; if not, at the risk of seeing it forced to wait to demand payment of capital. In either case, note Live Better-Your Moneyit is strongly recommended to notify the notary, so that he can ensure that your last wishes are respected.
Life insurance: how to correctly fill in the beneficiary clause?
The beneficiary clause, it is important to remember, can be written by the holder of a life insurance… as soon as the latter is of age. It is then possible to designate any beneficiary, continues the specialized information site. In the same way, nothing prevents to identify several of them.
That said, the Civil Code formulates several prohibitions. Here is the list:
- It is not possible to appoint a nursing staffwhen the latter follows the subscriber of the contract for an illness from which the latter could die;
- It is also prohibited to gratify a minister of religion (a consecrated name that includes priests, pastors, rabbis, imams, etc.);
Nominations are not permitted contrary to morality (adulterous partner, when it comes to remunerating such a relationship, for example)