For WEALINS, the life insurance contract is a tool that enables policyholders to pass on their estate according to their own wishes. In order to ensure adaptability to a client’s changing situation, the choice of beneficiaries can, for example, be changed throughout the lifetime of the contract, provided that certain conditions are met.
WEALINS’ contracts benefit from the principle of tax neutrality. It means that non-resident policyholders and beneficiaries are exempt from taxation in Luxembourg. Policyholders and beneficiaries are thus bound by the applicable tax regime in their country of tax residence.
WEALINS operates from Luxembourg under the freedom to provide services (EU‘s third life insurance directive). This regulatory framework allows the company to market its life insurance products in the EU and, by extension, in the European Economic Area, with no obligation to open a daughter company in those countries. This means a Luxembourgish insurer can sell a life insurance contract to a policyholder residing in another EU country.