4 ideas for saving cash


Life insurance is a savings product very popular with French people looking for good investment solutions. It is indeed a very interesting tax niche to consider a longer-term investment with good profitability. However, not all life insurance is equal and even when you have a good contract, you can always find ways tosave some money as long as you know the right tricks.

1) Compare life insurance contracts before starting

Your bank adviser offers you to invest in life insurance and you hesitate? Before you start and sign a contract for life insurance, make sure you compare different offers. Indeed, it can be tempting to give in to the facility by going directly to take out a contract with your bank. However, this may not be the most interesting solution. Some contracts provide more flexibility with the possibility of having no payment obligation and different options for example. Be selective, it’s essential.

life insurance contract
Credits: iStock

2) Take a contract as soon as possible

Whether you pass via online life insurance or a traditional bank, you don’t have to wait to get started. Whether you have children, debts or a mortgage, the earlier you get there, the better. Also remember that even if you pay little money at the beginning, it allows you to start the years counter earlier to benefit from long-term tax advantages, the age of the contract being greater than the date of the sums invested in it.

Little known fact: you can also open life insurance to a child from birth to save and anticipate important needs (driver’s license, studies, housing, etc.). Perfect for pouring in New Year’s gifts and often more efficient than the classic Livret A!

3) Review your contracts often: an overly neglected reflex

When you take out life insurance, you have a long-term vision. However, we must not forget that in ten years (and sometimes even less), your life can change drastically.

life insurance
Credits: iStock

By contacting an advisor, you will be able to notify him of important changes that occur in your personal, professional or financial situation (early retirement, divorce, birth, etc.) and better manage your allowance, thus allowing you to make better investments.

4) Several contracts or only one? To be seen on a case-by-case basis

However, it can sometimes be useful to have several contracts depending on the advantages of each contract, the type of project (short, medium or long term), for more flexibility in the transmission of your assets, in particular according to the different beneficiaries, but also if you plan to make redemptions on one of the contracts (the others will thus keep their tax anteriority). This is one of the lesser known points to always compare!

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