Life insurance deduction: can the policyholder be a different person from the insured?

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Precise rules must be respected for the tax deduction of 19% recognized against premiums paid for life and accident insurance. We refer in particular to:

  • to premiums for life and accident insurance (even if paid abroad or to foreign companies) for contracts entered into or renewed until December 31, 2000. For these types of contract, the deduction is allowed provided that the contract itself has a duration of not less than 5 years and does not allow the granting of loans in said minimum duration;
  • to premiums due for contracts entered into or renewed from January 1, 2001. For these contracts, only the premiums relating to the risk of death and / or permanent disability of not less than 5% are deductible.

In any case, with reference to the premiums paid in 2019 (Model 730/2020 or Revenue Model PF / 2020) L’maximum amount on which to calculate the 19% deduction must not exceed 530.00 euros in total. The benefit is obtained by filling in line E8 / E10 or RP8 / RP10 depending on whether the 730 model or the Income model are present respectively (in both cases code 36 must be indicated).

The essential condition to be respected

Given that the deduction takes place according to the cash principle (in the declarative models to be presented this year, the premiums paid in 2019 are deducted), as can be seen from the Circular no. 13 / E of 2019, for all types of insurance contracts, regardless of their nature, there is one indispensable condition which must be respected in order to exercise the right of deduction: it must be present coincidence between the policyholder and the insured regardless of the figure of the beneficiary who can be anyone. The figure of the beneficiary only detects if the insurance is for the protection of people with serious disabilities.

THE

n in particular, says the Revenue Agency in the aforementioned document of practice, the tax relief is due to the taxpayer in the following cases: a) he is a policyholder and insured; b) he is a policyholder and a dependent family member is the insured person; c) a dependent family member is both a policyholder and an insured person; d) he is the insured person and his dependent family member is the policyholder; f) the policyholder is a dependent family member and the insured person is another dependent family member. Therefore, for example, the right to deduct is lost when the husband is a contracting party and the wife is the insured but neither is fiscally dependent on the other.



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