Initiated by Les Démocrates MP Jean-Paul Mattei (Pyrénées-Atlantiques), the amendment plans to “align the taxation of the transmission of life insurance contracts after deduction with the model of direct inheritance taxes”.
The amendment also responds to recent recommendations from the Court of Auditors in its report, published on September 25. For this jurisdiction, the tax regime for life insurance is “more favorable than common law”.
Hardening
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At the heart of the change: the inheritance benefits of life insurance on which the holders made payments before their 70th birthday.
Currently, when a person holding a life insurance contract dies, the capital is transmitted to the beneficiaries designated in the contract. The plan is not the same if the premiums are paid before the age of 70 or after the policy holder turns 70, recalls Capital in an article.
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Thus, when payments take place before this age limit, a reduction of 152,500 euros benefits each of the designated beneficiaries of the contract. Below this amount, they are therefore not taxed. When payments take place after age 70, a reduction limited to 30,500 euros is shared between all beneficiaries.
The amendment voted on October 17 therefore aims to subject life insurance contracts paid before the age of 70 to inheritance tax. A radical change adopted against the opinion of the general rapporteur of the Budget, Charles de Courson (Liot), but with that of the LFI president of the Finance committee Éric Coquerel.
For what destiny? Response in the hemicycle from October 21.
