Guaranteed Life Annuities

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Savings insurance

Single Premium Savings Product for customers aged between 55 and 80 which, throughout their whole life, pays a guaranteed minimum monthly income and, on the death of the holder, pays any premiums to the beneficiaries plus an additional lump sum. Product provided by CAJAMAR Vida S.A., de Seguros y Reaseguros, offering excellent tax relief.

High returns fixed when the policy is taken out, depending on the age and gender of the insured party.


Minimum €30,000 and Maximum €600,000.

Redemption is permitted as of the first year, although not advisable, particularly from a fiscal point of view: Redemption can be either total (with fiscal costs and possible loss of capital) or partial (minimum of €6,000 and maximum 70% of the single premium).

At Cajamar Caja Rural we also have temporary income products with outstanding returns and tax treatment.

Tax treatment

  • 1. Life annuities enjoy preferential tax treatment, with tax reductions according to the age of the holder when the policy is taken out. The proportion of the income that is taxed is included in the Savings section of the Taxable Base.
  • 2. Lump sum received by the beneficiaries in the event of death: the amounts received by beneficiaries by means of an inheritance or legacy are subject to Inheritance and Gift Tax, taxed at difference percentages depending on the degree of kinship with the insured party and the beneficiary’s pre-existing assets.
  • 3. In the event of redemption, the insured party must declare to the Spanish Tax Authorities any amounts not declared previously owing to the tax relief offered on this product.


Guaranteed returns, aimed at conservative customers not looking to take on any risk; with the possibility of early redemption and outstanding tax advantages.

Insurances issued by CAJAMAR VIDA S.A. de Seguros y Reaseguros, through CAJAMAR INTERMEDIADORA Operador de Banca-Seguros Vinculado, S.L.(Tax Identification Number: B04428223), registered in the General Directorate of Insurance and Pension Funds with administrative code no OV0014, with Civil Liability insurance arranged, according to art. 21, paragraph 3, section h) of Law 26/2006, of July 17.

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