Luxembourg Life Insurance advantages for Monegasques Residents

  • Free designation of the beneficiary or beneficiaries at any time
  • Monegasques and residents of the Principality, with the exception of French nationals2 governed by the 1963 Franco-Monegasque Bilateral Convention, are not subject to income tax or capital gains in the event of total or partial redemption
  • A way of passing on assets:
    • Absence of inheritance tax in a direct line (parents-children) or between spouses.
    • No transfer duties due to Monaco if the sums payable to the beneficiary or beneficiaries of the life insurance policy are deposited with a Bank located outside Monaco (regardless of the domicile, the residence or the nationality of the deceased or the beneficiary or beneficiaries).
Our offer for legal entities 

Endowment contracts benefit from the same tax treatment as life insurance during the life of the policyholder, in the event of redemption. The only tax difference lies in the settlement of the contract in the event of death. Unlike life insurance, endowment contracts are not unwound in the event of death. They are passed on to heirs, and are included in the estate. They therefore retain all benefits, including the prior tax benefit of the endowment contract. In addition, the policyholder may gift the endowment contract to a third party during his or her lifetime. The subscription period is chosen freely, but cannot be longer than 30 years.