If life insurance is opened, entry fees are charged, also called installment fees, as they are applied to each payment. It is possible to trade them, according to Moneyvox.
When paying money on “bank” life insurance, fees are applied, called installment fees or entry fees, because they are applied when life insurance is opened. They can amount up to 5% of the amount deposited. For example, if you pay 1,000 euros on a 5% contract, that is equivalent to investing only 950 euros. And assuming an annual compensation of 2%, according to Moneyvox, it will take more than three full years to catch up with this initial planer.
First of all, you should know that targeting 0% is impossible in a large bank, because ” the payment costs are shared between the insurer and the distributor “Explains Cyrille Chartier-Kastler, founder of Goodvalueformoney.eu, and that they are strategic for the distributor, in other words, the bank or the wealth management advisor. Another professional specifies to the specialized media “ that this is his main remuneration on life insurance flows ” ” Indeed, the sums invested are then managed by the insurer, a subsidiary of the banking group, or by a partner insurer “Explains Aurélien Soustre, banking executive and member of the Financial Sector Advisory Committee (CCSF) as a union representative (FSPBA-CGT).
New contracts apply payment fees around 3%
Then, the current contracts, called “star” contracts, apply entry fees at rates below 5%. Among them, Millevie Essentielle, at Caisse d’Épargne, with 3.5%, or Plan Assurance Vie, at Crédit Mutuel, with 3.15%. Banks are now showing more “moderate” levels for contracts launched in recent years. ” Rather around 3% Confirms Cyrille Chartier-Kastler. “But the maximum fees remain at 4.50% or 5% on contracts opened previously. So you have to compare your “old” contract with the new “star” contracts of your bank, in order to have an argument in the negotiation, especially since it is possible to transform the contract into a more recent one within the framework of the “Pact law transfer”.
Accept to bet on units of account
You also have to agree to bet on units of account: this is the best argument according to Moneyvox to obtain a discount on payment fees. In fact, we invest part of our savings in units of account, without capital guarantee, unlike funds in euros. “If you only invest 15% of your deposit in units of account, and the amount remains limited to a few hundred euros, it will be very difficult to negotiate the entry fees down. Insurers now claim at least 30% units of account “, Notes the founder of Goodvalueformoney.eu. In addition, the professional points out that the maximum fees are applied “ in banking networks, for “general public” savers “. Bank customers rarely try to negotiate, except for the payment of a large sum. ” If the fees are lowered, it’s through flash deals. But they are still subject to the condition of a minimum investment in units of account “Underlines Aurélien Soustre.
If it is a large payment, it should be noted. ” When there is an issue for the banker, that the client has a certain heritage, he will always manage to obtain a discount or cancel the payment fees.t “, analyzes Stellane Cohen, CEO of Altaprofits. The most “profitable” customers for the bank or the insurer will be privileged in a negotiation. Finally, if negotiation begins, it is possible to negotiate a 1% drop, at best. ” If your deposit fees are not 0%, which is the norm in the online savings market, they should not reasonably be higher than 1% “Explains Eric Girault, founder of Mes-placements.fr.