There are many schemes, designed to suit a range of personal and financial circumstances, and the premium is calculated case-by-case:
We strongly recommend taking out a residual debt insurance to best protect your family and consequently secure an additional guarantee in your real estate loan process!
Your Housing Advisor will guide you towards the most appropriate solution for your personal situation.
Whether you opt for a single premium payment or payment in instalments, the premium you pay will be tax deductible if you submit a tax return in Luxembourg.
- The deductible amount of a single premium payment varies depending on your age and the composition of your household (see table).
- The annual premiums can be tax-deductible up to EUR 672 per person in your household.
- A combination of one-off payment and annual premium payments often proves attractive in terms of taxation.
| no children | 1 child | 2 children | 3 children | per additional child | |
|---|---|---|---|---|---|
| Up to age 30 | EUR 6.000 | EUR 7.200 | EUR 8.400 | EUR 9.600 | + EUR 1.200 |
| Age 31 | EUR 6.480 | EUR 7.776 | EUR 9.072 | EUR 10.368 | + EUR 1.296 |
| Age 32 | EUR 6.960 | EUR 8.352 | EUR 9.744 | EUR 11.136 | + EUR 1.392 |
| Age 33 | EUR 7.440 | EUR 8.928 | EUR 10.416 | EUR 11.904 | + EUR 1.488 |
| Age 34 | EUR 7.920 | EUR 9.504 | EUR 11.088 | EUR 12.672 | + EUR 1.584 |
| Age 35 | EUR 8.400 | EUR 10.080 | EUR 11.760 | EUR 13.440 | + EUR 1.680 |
| Age 36 | EUR 8.880 | EUR 10.656 | EUR 12.432 | EUR 14.208 | + EUR 1.776 |
| Age 37 | EUR 9.360 | EUR 11.232 | EUR 13.104 | EUR 14.976 | + EUR 1.872 |
| Age 38 | EUR 9.840 | EUR 11.808 | EUR 13.776 | EUR 15.744 | + EUR 1.968 |
| Age 39 | EUR 10.320 | EUR 12.384 | EUR 14.448 | EUR 16.512 | + EUR 2.064 |
| Age 40 | EUR 10.800 | EUR 12.960 | EUR 15.120 | EUR 17.280 | + EUR 2.160 |
| Age 41 | EUR 11.280 | EUR 13.536 | EUR 15.792 | EUR 18.048 | + EUR 2.256 |
| Age 42 | EUR 11.760 | EUR 14.112 | EUR 16.464 | EUR 18.816 | + EUR 2.352 |
| Age 43 | EUR 12.240 | EUR 14.688 | EUR 17.136 | EUR 19.584 | + EUR 2.448 |
| Age 44 | EUR 12.720 | EUR 15.264 | EUR 17.808 | EUR 20.352 | + EUR 2.544 |
| Age 45 | EUR 13.200 | EUR 15.840 | EUR 18.480 | EUR 21.120 | + EUR 2.640 |
| Age 46 | EUR 13.680 | EUR 16.416 | EUR 19.152 | EUR 21.888 | + EUR 2.736 |
| Age 47 | EUR 14.160 | EUR 16.992 | EUR 19.824 | EUR 22.656 | + EUR 2.832 |
| Age 48 | EUR 14.640 | EUR 17.568 | EUR 20.496 | EUR 23.424 | + EUR 2.928 |
| Age 49 | EUR 15.120 | EUR 18.144 | EUR 21.168 | EUR 24.192 | + EUR 3.024 |
| Over 50 | EUR 15.600 | EUR 18.720 | EUR 21.840 | EUR 24.960 | + EUR 3.120 |
Key-takeaways!
Remember to protect your family against financial worries in the event of death
There are many life-insurance schemes; the decision will depend on your personal situation
The younger you are, the less this insurance costs
Remember, it is tax deductible
For a residual debt insurance appropriate to your personal circumstances, contact your advisor!
