Las rentas vitalicias ganan atractivo con más rentabilidad

Vitality annuities are gaining popularity due to higher profitability. Financial entities have renewed the profitability of their products following the increase in interest rates. They offer returns of up to 4%, which remain constant throughout the insured's lifetime. Santander, BBVA, Ibercaja, Mutua Madrileña, and Santalucía have updated the profitability of their policies, with other firms preparing to do the same.

The rise in interest rates by the European Central Bank (BCE) has translated into these products offering returns close to 4% for the entire lifetime. BBVA provides up to 4.1% annually on its life annuity for a person aged 60. A 60-year-old client who contributes 100,000 euros in premium can expect to receive over 310 euros gross per month for the rest of their life.

Santander offers a RAV 101 Patrimonios life annuity with a net profitability of 3.37% for a 60-year-old client. Mutua Madrileña offers a gross annual profitability of 4.05% for clients up to 68 years old. For those aged up to 82, the guaranteed gross rate is up to 3.80%, while for those aged up to 85, it is 3.64%. Ibercaja's life annuity offers a 4% return for a client aged 55 to 64.

There are three additional age brackets with decreasing rates down to 3% for clients aged 85 to 90. A 65-year-old client who invests 100,000 euros in an Ibercaja life annuity at 4% will receive a gross life annuity of 316.79 euros monthly. Mapfre sets a performance of 3.6% for life annuities, meaning a 70-year-old saver would receive annually 5,843 euros, which divided by 12 months equals 487 euros.

Santalucía has just renewed its MaxiPlan Inversión Renta Constante with a 4% return. CaixaBank, through VidaCaixa, with a single premium payment of 150,000 euros, provides a flexible capital reserve guaranteeing 432 euros gross monthly to a 60-year-old client and 396 euros for a 79-year-old. Those who take Inversión Flexible Plus, also with a 150,000 euros initial payment, would have a monthly income of 423 euros at 60 years old and 480 euros at 79 years old.

In case of the policyholder's death, the life annuities offer beneficiaries a capital equal to the premium, increased by 1%. The life annuities can be contracted with a single premium payment, also known as a single premium in the sector, unlike pension plans, which are meant for periodic savings throughout a saver's life until retirement.

These policies come in various forms, depending on whether the entire or a part of the initial premium is reserved for heirs, and are targeted at older individuals who can benefit the most from the tax advantages of these products (see accompanying chart). The tax aid is added to the tax-exempt portion of the income received from life annuities for those over 70 years old, while the portion between 66 and 69 is taxed, and the percentage is 24% for those aged 60 to 65, and 35% for those aged 40 to 49. Life annuities for individuals under 40 are taxed at 40%.