All the benefits of co-subscription, the membership method you need to know!

Life insurance can be of great help to your loved ones after your death. Did you know that you can subscribe to this type of contract with your spouse? The Objeko team reveals everything in this article.

Life insurance: what is it?

Life insurance is actually a term that includes three main types of contracts: life insurance, death insurance, and mixed life and death contracts. These contracts are used for subsequent payments of pensions or capital to designated beneficiaries (who may be members). For this, the subscriber makes regular payments, which inflates his capital. In many respects it is the same as any other insurance. They are also managed by the same code. The only difference is that the lives of the subscribers are at stake.

Of course, there are many subscription formulas to suit your needs, especially your budget. Of course, life insurance capital depends on the type of contract you have and the amount you pay.

Contribution to the economy

Life insurance isn’t just used to contribute to your personal economy. This also helps to promote the country’s real economy! Indeed, the money you pay will be redistributed to the economy.

In this post-COVID and post-Russian invasion of Ukraine, this is no longer important. And when that day comes, your hard-earned money will be available to the beneficiaries. So think of it not only as an investment in the future, but as an investment in the future!

Co-enrollment Life Insurance: What are the benefits?

When we think of life insurance, we usually think of one-handed signed contracts. Still, it’s quite possible to subscribe to a joint subscription agreement! This also has many advantages.

There are two types of joint underwriting: first payment and second payment. For the first death payment, it is the co-members who will benefit from life insurance. For the payment of the second death, it is the beneficiary who specifies that the co-subscriber will benefit from it at the beginning of the contract.

These contracts have many advantages. Whatever type of contract you sign up for, you can double your payments to benefit from better capital or pay less per capita for comfortable capital. Therefore, in the case of the first death payment, the second co-member of life insurance can benefit from a much more comfortable pension than if they made a simple payment. For a second death payment and co-insurance life insurance, the beneficiary can have a nice little jackpot in his pocket. Therefore, there is every interest in taking advantage of it!

Terms of joint subscription

Therefore, co-subscribing to life insurance is of great interest. But how do you subscribe? In fact, it’s not available to everyone. For this, both co-subscribers must be married. Indeed, it is impossible for the two to live in a concubine or become a PACS.

Secondary life insurance also requires additional security clauses such as pre-claims, full attribution clauses and compensation exemptions. In the latter case, this can be negotiated with the organization responsible for your insurance.

What should I do if I get divorced?

Sometimes life doesn’t go as we planned. So you may have life insurance jointly with your partner, but it’s time for separation. Rest assured that even if you get divorced, you will not lose the contents of your joint life insurance. In fact, in this case, one of the former spouses can buy the shares of the other spouse. In that case, the contract is one name and the person who buys the other stock. Therefore, no money is lost and it continues to grow.

Can I add subscribers during the contract?

It is perfectly possible to add a subscriber to a life insurance policy. Of course, this depends on the organization responsible for the file and you will need to negotiate with the file. You will also need to provide your credentials to the tax authorities before proceeding. But the game is worth the candles!

What is the tax on joint life insurance?

As you know, the world of taxation is very complicated. Life insurance is generally taxed according to the age of death of the policyholder. It also depends on the duration of payment and many other factors. Therefore, Objeko recommends competing to see which type of contract is best for your situation.