Wednesday, September 30, 2009

Life insurance taxable: Afer the protests from Sarkozy

The largest association of life insurance Afer released on Tuesday an open letter to Nicolas Sarkozy signed by its president, Gerard Bekerman. It reacts to the project, including this morning revealed by the Tribune, the taxation of insurance-life multi-media for death and inheritance.

He writes: "it is intended to strike the death benefit social security contributions (12.1% to date). This is disregarding the law and the nature of contracts
life insurance. The death benefit is payable. His base is not susceptible to a levy. The subject would be to distort the contract. The real treasure of France, is confidence. We can not attack this treasure. You are personally committed to keeping your promises. Do not change the rules of the game en route. Do not revert to the permanent tax and social insurance life. "
The owner of Afer concludes: "Life insurance is popular! 12 million French are sure to be a retirement capital, and they contribute to the financing of the economy. They will have confidence. They trust you. They will trust you. Just, President of the Republic, to maintain this treasure that trust by respecting the commitments you have made. " A previous attempt several months ago, to trim some tax advantages of life insurance, had already provoked an outcry associations and professional and had ultimately failed.

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