Wealth Insurance

The ‘à la carte’ approach adopted by VITIS LIFE allows you to realize your personal wealth ambitions. We ensure your future and that of your nearest and dearest.

This is the finance and insurance part of wealth management, the objective of which is to manage the capital that you have built up in the most advantageous way.


Our life insurance policies are drawn up ‘à la carte’ and take your personal situation into account. These policies can have up to two policyholders and two insured. The beneficiary clause in your life insurance complies with your wishes. Moreover, each life insurance policy has a compulsory supplementary death insurance. You can transfer your wealth today under the best conditions.


The scheme below describes how a life insurance policy works at VITIS LIFE. It indicates the various parties involved, their roles and relationships. Note that as the policyholder you are at the heart of things and that you are accompanied by a top of the range partner working closely with VITIS LIFE. Click on each party to understand their role.

Custodian bank
Asset Management
Intermediaries
Commissariat aux
Assurances
Policyholder
Insured person
Beneficiary
Control authority of the
financial sector
Contract

Custodian bank

The bank with which the Insurer deposits shares of the units of account which make up the Policy’s reserve. For the dedicated or internal collective funds, this is also the bank with which the Insurer deposits the assets or financial instruments which comprise each dedicated or internal investment fund representing a unit of account. For each dedicated or internal collective fund the bank allocates the Insurer a specific bank account or sub-account in which the Insurer has to deposit the assets or financial instruments relating to this fund.

Asset management

Your wealth is managed by specialists to obtain the highest possible return.

Intermediaries

They are our partners approved as insurance intermediaries (such as private banks, wealth managers) who offer VITIS LIFE ‘à la carte’ solutions and implement them taking your financial situation and wealth into account.

Commissariat aux Assurances (CAA)

Public body under Luxembourg law tasked with monitoring the insurance and insurance broker sector in accordance with the stipulations of Luxembourg legislation and regulation.

Policyholder

The person who takes out the life insurance policy with VITIS LIFE S.A.

Insured person

The person on whose life rests the risk of the occurrence of the insured event and whose death leads to the payment of the insurance benefits.

Beneficiary

The person for whose benefit the policy is taken out and who receives the insurance benefits at the end of the policy.

Control authority of the
financial sector

Supervising authority of banks and asset managers in their country of establishment. (e.a in Luxembourg: CSSF : Commission de Surveillance du Secteur Financier)

How does the legislation work for Italian residents ?

Under current European regulations, contracts sold by VITIS LIFE do not integrate products that include 'interest payment' and as such do not fall within the scope of the 'European Savings Directive.' The first advantage offered by these contracts is thus represented by the non-application of withholding tax on any interest accrued in the policy.

In case of early payment of insurance benefits (partial or full surrender of the contract) the sums paid by VITIS LIFE are subject to the substitute tax on income to the extent of 26%, except for the application of the tax scheme facilitated scheduled for government bonds and securities listed in paragraph 7 of Article 2 of Decree 138 of 13 August 2011, as converted into law n. 148 of 14 September and its implementing decree.

It's important to remember however that the insurance benefits paid to the beneficiary when the contract ends, or a the death of the insured are exempt from inheritance tax.

The life insurance policy represents an attractive and advantageous vehicle for the transfer of assets to descendants or to third persons.

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