It is worth mentioning that VidaCaixa experts advise prior advice on tax benefits before making any contribution to these products. Why? Because the idea is that the savings objective that one has set meets certain expectations of profitability, seeking tax efficiency and pursuing the goal of supplementing retirement income.
Let’s suppose that a PIAS is paid with an annual return of 100 euros. This amount is not taxed, i.e., for tax purposes it is not considered. What must be taken into account is that at the moment of disposing or redeeming the money there is a slight tax impact.
A SIALP is an Individual Long-Term Savings Insurance. It is a type of life insurance that promotes long-term savings with some tax advantages. In addition, it also offers the security of having a certain interest rate during the whole time of the investment. In this way, the capital at maturity can be known from the very beginning.
Spanish life annuity
What is the SIALP long-term savings plan about? The growing SIALP Insurance is a simple savings formula that can be adapted to the capacity of each client, aimed at building up capital with which to achieve your goals. It also has tax advantages.
Guaranteed and risk-free profitabilityYour money will grow every day thanks to the guaranteed profitability and, in addition, you will have an additional profitability that will be paid to you thanks to your permanence.
Transfers can be made from the day after the policy takes effect. Transfers are permitted between SIALP* and CIALP** (a product of similar characteristics marketed by banks).
What is annuity
A SIALP, by its acronym, Individual Long-Term Savings Insurance, is a savings insurance that includes coverage for contingencies other than death or survival, thus taking advantage of a series of tax benefits.
Consequently, its contracting will depend on the profile of each investor, their time horizon and their degree of risk aversion. If you need advice or simply have any doubts about this type of savings product, call us. We will help you choose the best product for your savings.
Currently, there is a wide range of savings products on the market that make it possible to plan savings for the future and create a good economic «cushion» once retirement age arrives.
It is a life insurance that seeks to encourage long-term savings with certain tax advantages and provides customers with the security of having a certain interest rate during the entire period of their investment and, therefore, offers a capital at maturity known in advance at the time of making the contribution.
The returns generated by contributions to the SIALP are not taken into account for the purposes of this limit. This product allows the client, in case of liquidity needs, the possibility of fully redeeming the value of the insurance. The client may also request full mobilization to another Individual Long-Term Savings Insurance (SIALP) or Individual Long-Term Savings Account (CIALP). The exercise of partial surrender or partial mobilization is not allowed.