Life annuity insurance

Life annuity insurance is a type of individual life insurance solution for tax residents in Spain, designed to guarantee a regular and constant life annuity, i.e. for the rest of the insured person's life, including a total insured sum in case of death, which will be a known amount at the time the policy is taken out.

RAV 101 Patrimonios

This is an insurance policy designed for people over 55 and under 89 years of age that guarantees a regular, constant income until the insured's death.

At the time of death of the insured party, the policy's beneficiaries will receive an amount equivalent to 101.01% of the premium paid. The beneficiaries of the deceased may or may not be the legal heirs, since the insurance policy is outside the estate.

This product is the perfect choice if you wish to receive a guaranteed annuity for the rest of your life, in which the people you choose to receive the sum invested plus an additional amount.

RAV Reinversión

This insurance policy is eligible for tax exemptions for capital gains if you have sold an asset during the last six months, such as a property, shares or investment funds.

The product guarantees a series of regular fixed payments until the death of the insured party. At the time of the death of the insured party, the beneficiaries will receive a series of payments that will decrease, depending on the life annuity of the policy of which the deceased was the holder. This capital in the event of death is equal to 95% of the invested capital during the first year, decreasing with each year of the policy by 5% until the tenth annuity, when it will remain at 50% of the initial invested amount from then on.

This product is for you if you are over 65 and under 85 years of age, and have received capital gains resulting from the sale of assets in the past six months, and wish to receive a life annuity for the rest of your life with certain tax benefits, while also protecting the designated beneficiaries in the event of death.

RAV Inversión

This is an insurance policy designed for people over 60 and under 85 years of age. It guarantees a constant, regular, lifelong income, plus an indemnity payment upon death consisting of the sum of an insured amount, which decreases annually up to the third year and is known to you at all times, and a non-guaranteed amount, for which you assume the investment risk. This amount is therefore not guaranteed, as it depends on the fluctuations in the financial markets, which are beyond the insurer's control. Likewise, past results do not indicate future performance; the amount may therefore be higher or lower than the initial investment.

At the time of taking out the policy, the customer will be required to make a single initial contribution of between €20,000 and €2.5M, which will be distributed as follows:

• Seventy percent of the investment will be allocated to the Secure Income Portfolio, through which the client will receive a guaranteed, constant, periodic and lifelong income.
• Thirty percent of the investment will be allocated to the Non-Guaranteed Investment Portfolio. The portfolio's investment policy may consist of global equity (with no limits regarding sector, geography or currency), high investment-grade or high-yield private fixed income from developed markets, and fixed income from emerging markets. Investment in these assets will be made through ETFs (exchange-traded funds) with a diversification strategy across ETFs and asset managers.

In addition, one year after taking out the policy, you can transfer all or part of the Investment Portfolio to the Secure Income Portfolio during the designated periods to increase your regular income.

In the event of the death of the policyholder, the beneficiaries may or may not be the legal heirs, since the insurance is outside the estate.