Which pension and life insurance policies can I declare?

Contributions to pension insurance with and without the option of a lump-sum payment and to endowment life insurance with a minimum term of twelve years can be declared as "other pension expenses". However, this only applies if the insurance term and the first premium payment began before 1 January 2005.

They will only be considered if the deductible maximum amount of 1.900 Euro (employees, pensioners) or 2.800 Euro (self-employed) has not already been exhausted with contributions to basic health and nursing care insurance.

What does the option of a lump-sum payment mean?

With a private pension insurance policy that includes the option of a lump-sum payment, the policyholder can decide at the end of the term whether to receive the accumulated earnings as a monthly pension or as a one-off payment. An endowment life insurance policy offers the same protection in the event of death as term life insurance. In addition, it is also a savings contract. This distinguishes endowment life insurance from term life insurance, which only pays out if the insured person dies during the contract term. If they live longer than the agreed term, the premiums paid for the term life insurance are forfeited.

(2023): Which pension and life insurance policies can I declare?