ParticularesInsured amount M€62 Policies processed2.150 Clients1.580
Family savings insurance
At JORI& we help you maintain financial stability for your family and ensure their well-being by protecting them from any eventuality.
In short
What is a savings insurance
Savings insurance are investment vehicles in the form of an insurance contract that offer tax advantages and flexibility compared to other products. The main ones are PIAS, which exempts the profitability from taxation if redeemed as a life annuity after five years; unit linked, which invests in baskets of funds with the policyholder assuming the risk; and life annuities, with very high tax reductions from the age of seventy.
Advantages
Advantages of family savings insurance
Compared to other investment vehicles, what savings insurance provides is tax efficiency and flexibility.
Exempt return if you convert it into income
A PIAS maintained for five years and redeemed as a lifetime annuity is not taxed on the accumulated return. It is one of the few full exemptions remaining.
Adjust your portfolio without toll
Changing the basket of funds within the contract does not generate a taxable event. You can reduce risk as the goal approaches without paying to do so.
Goes directly to whom you decide
The designated beneficiary receives payment without waiting for the inheritance partition, providing immediate liquidity to the family at a time when it is often lacking.
Consistency over accuracy
Automated periodic contributions average the entry price and eliminate the decision of when to invest, which is where individual savers lose the most money.
Profile
Who it is for
Families with the ability for periodic savings
Those who can allocate a monthly amount and seek discipline and a long-term horizon.
Savings for children's education
Objectives with a ten or fifteen-year view with a known date.
Over 65s with assets
Profiles that can take advantage of the exemption for reinvestment in life annuities.
Supplement to retirement
Those who have already exhausted the contribution limit to pension plans and need another route.
Technical criteria
What to understand before signing
These are products with real tax advantages, but also with conditions that penalise early exit.
Confusing guaranteed with profitable
A guaranteed product protects the capital but may not beat inflation. In long horizons, that is certainly losing purchasing power.
Unit linked without understanding the risk
In a unit linked, the investment risk is assumed by the policyholder. There is no capital guarantee unless expressly stated.
Penalties for early withdrawal
Exiting before the planned term can mean fees and, above all, losing the tax advantage that justified the product.
Accumulated fees
In twenty-year horizons, a half-point difference in fees translates into a very significant part of the final capital.
Scope
What does a family savings insurance include
- Definition of the objective, the time horizon, and the assumable risk profile
- PIAS with exemption of profitability if redeemed as a life annuity
- Unit linked with fund baskets adapted to the profile and periodic rebalancing
- Savings insurance with guaranteed rate for conservative profiles
- Life and temporary annuities, with analysis of tax treatment by age
- Annual plan review and adjustment of contributions
The definitive scope depends on the wording of each insurer. We review it with you before recommending anything.
The JORI& method
Cómo trabajamos
El mismo método en cualquier solución: entender la exposición real antes de mirar una prima.
Análisis del riesgo
Estudiamos la actividad, el patrimonio y los escenarios plausibles. Sin ese diagnóstico, comparar pólizas es comparar precios de cosas distintas.
Diseño del programa
Definimos coberturas, límites, franquicias y exclusiones aceptables. Decidimos qué se transfiere al asegurador y qué se retiene de forma consciente.
Negociación con el mercado
Presentamos el riesgo a las aseguradoras con las que trabajamos y negociamos condiciones. Somos independientes: no pertenecemos a ninguna compañía.
Acompañamiento y siniestros
Revisamos el programa cada renovación y, cuando ocurre el siniestro, actuamos como tu parte técnica frente al asegurador hasta el cobro.
Frequent doubts
Lo que más nos preguntan sobre savings insurances
What tax advantage does a PIAS have?
If it is maintained for at least five years and redeemed as a lifetime annuity, all accumulated returns are exempt from taxation. Additionally, the resulting lifetime annuity is taxed only on a reduced percentage according to the age of constitution, which from seventy years onwards drops to 8%.
How does it differ from an investment fund?
In tax treatment and flexibility. The savings insurance allows changing the basket without taxation, incorporates beneficiary designation outside the hereditary estate for practical purposes and, in the case of PIAS, offers the exemption for lifetime annuity. In return, it has slightly higher structural costs.
Can I lose money in a unit linked?
Yes. The investment risk is assumed by the policyholder and there is no capital guarantee except for a specific modality. This is why defining the risk profile and horizon before contracting is the most important part of the work.
What happens if I need the money early?
Almost all allow partial or total redemption, but they may apply a penalty depending on the product and timing, and early redemption results in the loss of the tax advantage. That's why we always size the contribution so that it does not compromise the liquidity the family needs.
How much should I save per month?
It depends on the goal and the term. As a rough guide, reaching €100,000 in twenty years with an average return of 4% requires around €270 monthly. We always work from the goal backwards, not the other way around.
Is it compatible with a pension plan?
Totally, and they are usually complementary. The pension plan provides a reduction in the taxable base but is illiquid; the savings insurance does not reduce the base but is accessible and allows planning the redemption with more leeway. Combining them is common once the plan limit is exhausted.
Family savings
From the goal to the monthly fee, with numbers
Tell us what you want to achieve and in how much time. We calculate the necessary monthly effort and which vehicle best fits your tax situation.
- Independent broker: we do not belong to any insurer
- The specialist in the field you consulted answers you
- The review is delivered in writing, policy by policy
Insights
Ver el tema savings and retirement 
