Despite these warnings, life insurance should once again be spared in this year’s finance bill. “Life insurance is not a tax shelter,” said Paul Esmeingeneral delegate of the France Assureurs federation, during a press point on October 29, 2024. He insisted in particular on the fact that the special civil life insurance regime (the “stipulation for others“, that is to say the fact of designating a beneficiary) justifies its distinct inheritance framework.
Concerning a possible increase in the flat tax or other tax changes, Paul Esmein warns: “Be careful, let’s not destroy this attractive tool for the benefit of the economy.” With an average holding period of 13 years, life insurance allows for “long-term savings that finance both companies and the State”, with 64% of assets placed in French companies and 23% in sovereign bonds. “We must preserve these characteristics,” he adds.
‘‘
“The lung of the French economy”
’
Savings still popular with the French
Savers continue to favor life insurance. In September 2024, contributions reached 12.3 billion euros, a record for the month of September (+10% compared to September 2023). Net collection – contributions less redemptions – amounts to 2.5 billion euros, also a historic level.
With an outstanding approaching 2,000 billion euros at the end of Septemberup 5.4% in one year, this investment remains at the heart of the national economy. “These good results make this savings product the lifeblood of the French economy,” underlines Paul Esmein. “And any measure that would reduce the tax attractiveness of life insurance would be a bad thing,” he concludes.
