Here are some of the most significant benefits that can be achieved through an endowment policy for people resident for tax purposes in Germany.
• No taxes during the term of the policy
• No tax on the purchase or sale of securities during the term of the policy.
• The customer defines the investment strategy and bank.
• No limit to deposits.
• Opportunity to add more insured persons.
• No EU taxes.
• No capital tax.
• 33% of policy’s value is tax-free for any beneficiaries.
• No exit tax when you move. The policy can be cancelled at any time.
• The policy can be mortgaged and used as security for a new commitment.
• Payment no earlier than at age of 60 after a minimum of 12 years.
• Only 50% of the policy’s growth in value is taxed as income in connection with payment.