Would you be able to do without something yourself now and do you want to give your child, grandchild or loved one a helping hand? Then make them a donation. It would be a lovely gesture, but there is also a downside: if you die within maximum 5 years of making an unregistered donation, the recipients will have to pay inheritance tax. Donation Care death insurance enables you to avoid any unpleasant financial surprises.
Temporary policy, taken out by your next of kin with you as the insured
Saves your next of kin possible inheritance tax because of an unregistered gift
Donation Care is a Branch 21 death insurance with a minimum duration of 1 year and a maximum duration of 5 years.
Donation Care is only possible within a non-tax contract.
Donation Care aimsto protect the next of kin - the policyholder in this contract - of the insured person against the impact of high inheritance tax as a consequence of a gift.
If the insured person dies within 5 years of the unregistered gift, they receive the insured amount of the estimated inheritance tax. The higher the amount of the gift, the more attractive this insurance is.
For more details, see the Financial Facts Sheet
Donation care is aimed at natural persons who want to cover the financial consequences - in particular with regard to the inheritance tax as a consequence of an unregistered gift - for their next of kin on the occasion of their death, if this gift is not registered. The age of the insured on taking out the cover must be between 18 and 80 years.
If it concerns a natural person, the minimum age on taking out the cover is 18 years
This product is not suitable for natural persons who wish to cover themselves to protect their next of kin when the insured person is older or younger than the permitted criteria: it is not suitable to cover a mortgage loan, loan or pure family protection
You make a gift and do not cover yourself in any way. That can go well, but it can also go wrong. Suppose you die within 5 years of the unregistered gift? Then your next of kin will have to pay inheritance tax on the unregistered gift. The amount depends on the relationship and the region in which you live. For partners, children and grandchildren this is 3% for small amounts, increasing to 30% for larger amounts. For more distant relatives, the percentage can increase up to as much as 80%.
You can also have your gift registered immediately with a notary. If you die within 5 years, no inheritance tax is levied on the recipients. However, upon registration, the recipient immediately has to pay gift tax. This is 3% (3.3% in the Walloon Region) for partners, children, grandchildren, parents and grandparents and 7% (5.5% in the Walloon Region) for other relatives.
With NN Donation Care, your next of kin take out a temporary policy for the estimated amount of inheritance tax linked with your gift. You are the insured person. If you die within maximum 5 years of the unregistered gift, your next of kin as the beneficiaries will receive the insured amount to pay the inheritance tax. The higher the amount of the gift, the more attractive a term life insurance is.
These rules apply on the grounds of the current tax legislation and are subject to change in the future.
If the tax rules change, NN Insurance Belgium nv cannot be held liable for the consequences.
The tax treatment depends on the individual situation of the customer and can change in the future.
When reference is made to a tax system, this should be understood to refer to the tax system applicable to an average retail customer with the capacity of a natural person who is resident in a Belgium.
If your application is delayed, you will be covered for accidental death. You are covered for the initially insured capital (with a maximum of EUR 500,000).
This agreement ends after 1 month, or upon acceptance or refusal by the company. (For further information, refer to the general conditions "provisional coverage")
You are covered worldwide for all causes of death: from illness, an accident or sudden death such as a stroke or heart attack.
Is your insured capital higher? Then contact your broker.
Certain risks are not covered.
For the main insurance, these include suicide during the first year after the conclusion of the contract, intentional act and act of war.
This list is not exhaustive. Refer to the General Terms & Conditions for an overview of all excluded risks.
A number of exclusions also apply to the Supplementary Accidents cover (AVRO). A detailed list can be found in the Supplementary General Terms & Conditions.
Your broker will be happy to help you with all your questions about this product. He or she can also provide you with a quotation and a premium calculation.
Find a broker near you.
Option death as a result of an accident
Do you choose this option? If you die as the result of an accident, your next of kin will receive an additional amount in addition to the Donation Care capital. Thus you give them more certainty.
Possible payment types for the premium:
For the frequency, you can opt for monthly or annual payments only by bank transfer.
Simplified medical acceptance up until the age of 51 and up to an amount of EUR 300,000
It is necessary to read the Information Financial Fact Sheet & General Terms and Conditions before purchasing, registering, entering into, accepting, signing or opening a NN Donation care.
If you have a complaint about your NN policy, please contact NN, Quality Care Center, 38 Fonsnylaan, 1060 Brussels. Send an e-mail in the first instance to klachten@nn.be. Or contact the Consumer Ombudsman Service at the Insurance Ombudsman, 35 de Meeûssquare, 1000 Brussels. Tel: +32(0)2 547 58 71, fax: +32(0)2 547 59 75, info@ombudsman.be, www.ombudsman.be. It is also possible at all times to take legal action.
