Residual debt insurance How to protect your family in your plans.

Do you have a real estate project? Then do not forget the residual debt insurance!

A residual debt insurance covers the redemption of your loan in the event of death or incapacity, and therefore protects your family. Through our partner Lalux, we can offer you the residual debt insurance you need for your real estate plans.

The benefits of a residual debt insurance:

Protecting your family against financial worries in the event of death

  • Partial or total redemption of the outstanding balance of your real estate loan
  • Members of your family are not required to face important expenses
  • Avoids the potential need to sell the real estate

A tax-deductible insurance premium

  • Residual debt insurance premiums are income tax-deductible
  • The deduction level depends on your household composition

Which residual debt insurance scheme should you choose?

There are many schemes, designed to suit a range of personal and financial circumstances, and the premium is calculated case-by-case:

  • Selection of the insured parties
  • Choice of the insured amount
  • Choice of duration
  • Choice of frequency of insurance premium payments
  • Choice to add the "incapacity" option
We strongly recommend taking out a residual debt insurance to best protect your family and consequently secure an additional guarantee in your real estate loan process!

Your Housing Advisor will guide you towards the most appropriate solution for your personal situation.

The tax benefits in detail

Whether you opt for a single premium payment or payment in instalments, the premium you pay will be tax deductible if you submit a tax return in Luxembourg.

  • The deductible amount of a single premium payment varies depending on your age and the composition of your household (see table).
  • The annual premiums can be tax-deductible up to EUR 672 per person in your household.
  • A combination of one-off payment and annual premium payments often proves attractive in terms of taxation.
  no children 1 child 2 children 3 children per additional child
Up to age 30 EUR 6.000 EUR 7.200 EUR 8.400 EUR 9.600 + EUR 1.200
Age 31 EUR 6.480 EUR 7.776 EUR 9.072 EUR 10.368 + EUR 1.296
Age 32 EUR 6.960 EUR 8.352 EUR 9.744 EUR 11.136 + EUR 1.392
Age 33 EUR 7.440 EUR 8.928 EUR 10.416 EUR 11.904 + EUR 1.488
Age 34 EUR 7.920 EUR 9.504 EUR 11.088 EUR 12.672 + EUR 1.584
Age 35 EUR 8.400 EUR 10.080 EUR 11.760 EUR 13.440 + EUR 1.680
Age 36 EUR 8.880 EUR 10.656 EUR 12.432 EUR 14.208 + EUR 1.776
Age 37 EUR 9.360 EUR 11.232 EUR 13.104 EUR 14.976 + EUR 1.872
Age 38 EUR 9.840 EUR 11.808 EUR 13.776 EUR 15.744 + EUR 1.968
Age 39 EUR 10.320 EUR 12.384 EUR 14.448 EUR 16.512 + EUR 2.064
Age 40 EUR 10.800 EUR 12.960 EUR 15.120 EUR 17.280 + EUR 2.160
Age 41 EUR 11.280 EUR 13.536 EUR 15.792 EUR 18.048 + EUR 2.256
Age 42 EUR 11.760 EUR 14.112 EUR 16.464 EUR 18.816 + EUR 2.352
Age 43 EUR 12.240 EUR 14.688 EUR 17.136 EUR 19.584 + EUR 2.448
Age 44 EUR 12.720 EUR 15.264 EUR 17.808 EUR 20.352 + EUR 2.544
Age 45 EUR 13.200 EUR 15.840 EUR 18.480 EUR 21.120 + EUR 2.640
Age 46 EUR 13.680 EUR 16.416 EUR 19.152 EUR 21.888 + EUR 2.736
Age 47 EUR 14.160 EUR 16.992 EUR 19.824 EUR 22.656 + EUR 2.832
Age 48 EUR 14.640 EUR 17.568 EUR 20.496 EUR 23.424 + EUR 2.928
Age 49 EUR 15.120 EUR 18.144 EUR 21.168 EUR 24.192 + EUR 3.024
Over 50 EUR 15.600 EUR 18.720 EUR 21.840 EUR 24.960 + EUR 3.120

Key-takeaways!

Remember to protect your family against financial worries in the event of death

There are many life-insurance schemes; the decision will depend on your personal situation

The younger you are, the less this insurance costs

Remember, it is tax deductible

For a residual debt insurance appropriate to your personal circumstances, contact your advisor!

Do you need more detailed Information? Contact us

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