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Thelife insurance is a form of insurance the purpose of which is to guarantee the payment of a certain sum of money (capital or annuity) when an event related to the insured person occurs: his death or his survival.
France(edit | modify the code)
What is commonly called “life insurance” in France is a death insurance contract (capital paid in the event of death before the end of the contract) with “counterinsurance”, that is to say the reimbursement of premiums. paid during the term of the contract in the event of the life of the insured at the end of the contract, and possibly increased by the technical interest provided for in the contract. This makes it possible to present a quasi-savings product, endowed with the tax advantages of insurance. It is also possible to buy back your contract before maturity.
Quebec (Canada)(edit | modify the code)
In Quebec law, the rules in matters of life insurance are contained in chapter fifteen of the fifth book “of obligations” in the Civil Code of Quebec (2389-2628 C.c.Q.)(1). In this chapter, there are two sections relevant to life insurance, including a general section applicable to all insurance contracts (2389-2414 CcQ) and a specific section on insurance of persons (2415-2462 CcQ). ).
Swiss(edit | modify the code)
In Switzerland, the three pillar system encompasses life insurance as understood in France, assigning it the role of third pillar of this system. It is also under this name that this form of life insurance, voluntary and tax-exempt to a certain point (CHF 6,826 maximum tax-exempt per adult in 2019), is known.