RAV 101 Patrimonios

Guaranteed lifelong income insurance

At Santander Seguros we have a range of Guaranteed Lifelong Income products including income insurance policies that guarantee constant, regular and lifelong income with various coverage possibilities in the event of death so our customers can choose the one that best suits their needs and circumstances.

RAV 101 Patrimonios is an insurance policy that guarantees a constant and regular income up to the death of the insured, when the beneficiaries will receive a capital amount equal to 101% of the premium paid.

It can be arranged for an amount ranging from €20,000 to €1,500,000

This insurance policy is not eligible for the capital gains exemption.

Liquidity

Although the RAV is a lifelong product, we understand that your circumstances may change, which is why we allow you to totally (but not partially) redeem the product, but bear in mind the amount received on redemption may be less than the initial premium invested.

In addition, in the event of redemption, you must ensure you communicate with the Tax Authorities regarding the non-taxed income.

Tax treatment

Only a percentage of the income received will be taxed as personal income, based on how old you are when you arrange the product (except in Navarra, where this percentage will be updated on each birthday) and will stay the same throughout the term of the insurance policy according to the following table:

INCOME WITHHELD BASED ON THE APPLICABLE EXEMPTION PERCENTAGE

Tax treatment under personal income tax will depend on personal circumstances, the amount of lifelong income received annually and the other income (RCM) that is included in the Policyholder's taxable savings.

How do I arrange the "RAV 101 Patrimonios" insurance policy?

If you want more information about RAV 101 Patrimonios and how to take it out, go to any Banco Santander branch or contact your Personal Santander Manager.