life insurance: how to achieve better conditions

While you can transfer a supplementary pension contract free of charge to another fund, life insurance disputes cannot be transferred to another insurance company without penalty and without the need for additional tax levies. What are you paying attention to?

Some financial contracts can be transferred to other institutions. Pkladem me bt penzijn pipojitn. Pensioners have the opportunity to transfer disputes to another fund free of charge, up to a week. The transfer of the contract may be suitable for all, if the fund attaches below the average appreciation. It is currently being considered whether to charge for these transfers in any way.

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Unlike a pension supplement, the life insurance situation is more complicated. The answers can be found in the income tax account:

Act. 586/1992 Sb. on income tax, as amended, in 15, paragraph 10, inter alia, the statutes: In the event of non-compliance with these conditions due to termination , in which this fact occurred, are the amounts by which the taxpayer was taxed in the past years due to the paid insurance deposit, with the exception of insurance contracts, for which the insurance benefit will not be paid or sold and the reserve or capital value of the insurance will be transferred to the new a contract of private life insurance fulfilling the conditions for the application of non-taxable tax base.

At present, it is not over. 37/2004 Sb. on insurance contracts defined termination of insurance contracts with the payment of the entire capital value (known as the notice, agreement, enough for the payment of the redemption).

In all these cases, in accordance with the Act on Insurance Contracts, redemption (sales) is paid to the client, which in some cases is actually in the capital of the value of the contract. But it is always the termination of the connection with the redemption payment (this redemption is sent to the account that the client determines) and it is clear from the given statutes that it must not be a redemption payment so that the conditions of the redemption are not violated.

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Thus, the different provisions on the possibility of terminating insurance contracts thus exclude the transfer of capital values ​​from old life insurance contracts to new ones. It is therefore not possible to transfer disputes from one insurance company to another free of charge. In addition, if the life insurance contract for which the tax benefits were claimed is terminated, their return is required.

The only situation where it is not necessary to shake the tax levy is the transfer of the dispute to another life insurance contract within the same insurance company. Only within the same insurance company is the transfer of capital values ​​without redemption payment, as required by the mentioned income tax bill. But even with transfers within the insurance company, it is necessary to pay attention to fees. Some insurance companies also charge fees for the transfer of disputes to another contract.