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Per or life insurance, the right criteria for choosing

Depuis son lancement le 1er octobre 2019, le Plan d’Epargne Retraite (PER) a trouvé son public.Coming from the pact law, it takes up an operation close to life insurance while improving the old products that are the perp and the Madelin.The individual per peri is for example the only retirement savings product giving access to a 100 % capital outing, in one or more times, rather than in life annuities.

But are the assets of the PER sufficient to compete with life insurance?Favorite French placement, life insurance is a real Swiss savings knife, capable of adapting to the needs of each.So, rather per or life insurance?The keys to make the right choice.

What investment to favor between life insurance and per?

From the outset, it should be indicated that it is not possible to give a categorical answer to the question "per individual or life insurance?"»».Each envelope has separate specificities (availability, taxation, etc..) and therefore advantages and disadvantages specific to each.In other words, your choice will depend above all on your situation and your priorities.

This is why it is essential to clearly identify your heritage project and your needs.If the most independent savers may prefer to carry out this project by themselves, nothing prevents you from being advised on the procedure to follow.To do this, you can contact free of place with bestly-investment, email, telephone or appointments in one of our agencies.

>> Je souhaite prendre contact avec un conseiller en gestion de patrimoine

In the meantime, here are some key points to remember to choose well between a life insurance contract and a retirement savings plan.

The individual permanent, to reduce its taxes ... at the entrance!

One of the strengths of the individual PER - and the one with the attention of many taxpayers - is due to its taxation.The payments are indeed deductible from taxable income (within legal limits), which makes it possible to generate a tax economy.This will be proportional to the marginal tax rate (TMI) of the saver: the more it is imposed, the higher the advantage will be.

Example: you place € 10,000 on an individual PER in 2021.If your TMI is 30 %, you decrease your income tax by 2021 (declared in 2022) by € 3,000.With a TMI of 41 %, the tax advantage increases to € 4,100.

Be careful however, if the taxation of the PER is more attractive to the entry than that of life insurance, the balance of power is reversed at the exit.The capital invested on a PER will be subject to the income tax scale when you release the retirement sums (capital gains are taxed at PFU of 30 %).Conversely, life insurance is exempt from capital taxation and benefits from a softer taxation on capital gains, especially for contracts over 8 years old.

With the PER, you therefore benefit from a tax advantage on payments, offset by taxation at the exit.You can finish winner if your TMI is higher at the entrance than at the exit, but it can be difficult to anticipate your TMI on retirement.However, it remains possible to control the tax impact of the unlocking of the PER, by opting for a fractional capital outing over several years.This can notably help avoid a tax leap.

>> Je demande à échanger avec un conseiller sur le PER Individuel

Maximize the performance of your savings with the per

The deductibility of payments on a PER plays on two tables.Indeed, it decreases your taxation and, by ricochet, your real savings effort.For example, place € 10,000 on a "cost" PER really € 7,000 in savings for a person in TMI 30 %, thanks to the amount saved on their tax (€ 3,000).

You freely have the sum thus saved.You can in particular invest it as you see fit: scholarship, real estate, life insurance ... and even PER (watch out for deduction ceilings in the latter case).Thus, by taking up our example, investing € 10,000 on a PER allows you to work € 13,000 in savings if you reinvest your tax economy.

By doing so, your investment in an individual will bring you more than an equivalent placement in life insurance, if only because you can invest more each year thanks to the per.The permanent intention of being unlocked to retirement (excluding accidents of life and early release for the purchase of the main residence), this differential can end up weighing very heavy.

PER ou assurance vie, les bons critères pour choisir

>> Je demande à échanger avec un conseiller sur le PER Individuel

The flexibility of life insurance at the service of your projects

Life insurance and PER have a number of common points. En termes de fonctionnement par exemple, les deux produits vous donnent accès au fonds en euros et à des Unités de Compte diversifiées (OPCVM, SCPI, ETF…).But there is a fundamental difference: PER is blocked, in principle, until retirement, while life insurance savings are available at any time.

Hence the importance of well identifying your project and your needs before choosing between life insurance and per.To prepare a short or medium term project - finance the studies of your children for example - or to simply put money aside with the idea of being able to recover it if necessary, life insurance is essential.

The favorable tax insurance taxation plays fully in its favor. Pour les contrats de plus de 8 ans, vous pouvez effectuer des rachats (retraits) partiels entièrement exonérés d’impôt chaque année, dans la limite de 9 200 € de plus-value pour un couple (4 600 € pour une personne seule).Social security contributions (17.2 %) remain due.

>> Je demande à échanger avec un conseiller sur l'assurance vie

For the succession, advantage of life insurance

Savers looking for a placement adapted to the preparation of their succession have every interest in thinking about life insurance.The sums transmitted within life insurance are subject to significant tax development:

Within the framework of the PER, the sums transmitted also benefit from a particular tax regime, but it is less advantageous because the available tax abatements depend on the date of the death of the plan holder:

Given these differences, life insurance is more relevant with a view to preparing the succession.But that does not mean that the PER is devoid of interest in this capacity: there is even an unknown tip to optimize his succession with a per.

>> Je demande à échanger avec un conseiller sur l'assurance vie

The match per vs life insurance: final assessment

More than real competitors, life insurance and retirement skating plan constitute 2 complementary investments each other.Your heritage priorities can lead you to favor one rather than another, but one cannot replace the other.In a global heritage approach, and subject to consistency with your situation, it is certainly possible and appropriate to find a place for everyone.

This is all the more true if you already have old retirement savings products: Perp, Madelin, Prefon, Corem, Perco, Articles 83 of old companies ... All these products can be transferred to a per, in order toGather all your retirement savings "in the same place".By following this logic, and from the moment when such transfers are relevant to you, you would then have to hold a PER, dedicated to your retirement savings ... without this preventing you from holding a life insurance contract (orseveral) to meet your other heritage needs.

To finish this comparison per/life insurance, you will find below a summary table of the strengths and weaknesses of each product.

Le match Assurance vie / PER Individuel
Assurance viePERVainqueur
Allocation d'épargneDans les deux cas : accès au fonds en euros garanti et à des Unités de Compte diversifiées (OPCVM, actions, SCPI, ETF, etc.)Egalité
Rendement de l'épargneVariable selon l'allocation de l'épargne choisie et le poids des frais du contratEquivalent à celui de l'assurance vie (à allocation et frais équivalents) mais avec un effort d'épargne réel moindre grâce à l'économie d'impôt qui peut être réinvestiePER
Disponibilité de l'épargneDisponibilité à tout momentEpargne bloquée jusqu'à la retraite, sauf accidents de la vie et achat de la résidence principaleAssurance vie
Fiscalité sur les versementsAucune fiscalité particulièreDéduction fiscale des versements dans la limite des plafonds légauxPER
Fiscalité sur les retraitsCapital systématiquement exonéré de fiscalité Abattements fiscaux sur les plus-values après 8 ans de détention (9 200 € par an pour un couple, 4 600 € pour une personne seule)Capital imposé au TMI applicable au contribuable au moment du déblocage Plus-values taxées au PFU de 30 %Assurance vie
Transfert des contratsTrès limité dans la pratique (transferts intra-assureur)Possibilité de transférer un PERP, Madelin, PERCO, article 83… vers un PER* Possibilité de transférer un PER vers un autre PER à tout moment**PER
Transmission à la successionAbattement de 152 500 € par bénéficiaire sur les sommes versées avant 70 ans(30 500 € pour l'ensemble des bénéficiaires après 70 ans)Abattement de 152 500 € par bénéficiaire en cas de décès avant 70 ans (30 500 € pour l'ensemble des bénéficiaires en cas de décès après 70 ans)Assurance vie

*Transfer fees of 5 % maximum, exemption after 10 years of detention ** transfer fees of 1 % maximum, exemption for PERs over 5 years

>> Je demande à échanger avec un conseiller sur le PER Individuel

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