At BAC Life you have several types of policies at your disposal, each characterised by:
- Protection of financial assets: insurance policies cannot be seized, are not subject to foreclosure and do not form part of the estate (in accordance with the legislation in force in the Republic of San Marino).
- Tax optimisation: tax deductibility up to euro 5.5 thousand per year for persons residing in the Republic of San Marino.
- Guaranteed capital and annual consolidation of interest (for BAC First policies)
- Inheritance tax exemption.
- Death bonus linked to the insured’s age.
In addition:
- The policyholder may request the full or partial repayment of the Insured Capital
- The policyholder may guarantee the designated beneficiaries a capital sum, in strict confidence and protected from possible creditors.
- The policyholder has the option of taking out life insurance policies through trust companies, as well as the option of pledging the policy, for credit lines.
1. Separate Management Policies
The separately managed BAC FIRST policies are
guaranteed capital life insurance products.
In addition, you have annual capital appreciation with the rate of return produced by the management, annual consolidation of the capital with accrued interest and the possibility of partial and/or total redemption after one year.
BAC First
Single premium policies for individuals with the possibility of additional premiums.
Single premium: €10.000
Additional premium: € 2.000
Possibility of partial and/or total redemption with €10.00 fixed costs after one year.
BAC First Impresa
Single-premium policies for legal persons and entities with the possibility of additional premiums.
Single premium: €10.000
Additional premium: € 2.000
Possibility of partial and/or total redemption with €10.00 fixed costs after one year.
BAC First Ricorrente
Policies for individuals with recurring premiums and the possibility of additional premiums.
Annual premium: from €1.500 payable in monthly or annual instalments.
Additional premium: € 1.000
Possibility of partial and/or total redemption after one year with €20.00 fixed costs and 2% penalty for the second year, 1% penalty for the third year.
BAC First Previdenza
Pension policies, for private individuals, with recurring premiums and the possibility of additional premiums.
Annual premium: from €2,500 payable in monthly or annual instalments.
Additional premium: € 1.000
Possibility of partial and/or total redemption after one year with €20.00 fixed costs and 2% penalty for the second year, 1% penalty for the third year.
2. UNIT Linked Policies
UNIT LINKED policies are life insurance policies in which the benefits are directly linked to the value of the assets contained in internal funds held by the insurance company.
Among the UNIT LINKED policies, there are also PERSONALISED policies (called BAC Best Player), developed to meet the most evolved needs. BANCA AGRICOLA COMMERCIALE SpA exclusively distributes San Marino Life unit-linked products, with single and recurring premiums, called BAC Evolution.
BAC Evolution
Single premium policy with
possibility of additional payments:
€10,000 on subscription
€2,000 per additional payment
Possibility of partial and/or total redemption after 30 days with €10.00 fixed costs and 0.5% penalty up to the second year
BAC Evolution Ricorrente
Recurring premium policies with the possibility of additional premiums:
€1,200 on subscription with the possibility of annual or 12 monthly instalments
€1,200 per additional payment
Possibility of partial and/or total redemption after 30 days with €10.00 fixed costs and 1% penalty until the second year.
Recurrent Life
Recurrent premium policies with the option of additional premiums:
€ 1,200 on taking out the policy, with the option of a single annual premium or 12 monthly payments of € 100 per additional payment
Partial and/or total cash-out option after 30 days with € 50 fixed fee
Death bonus: principal increase calculated as a variable percentage according to the insured person’s age
Recurrent Life Pension
Recurrent premium pension policies with the option of additional premiums:
€ 1,200 on taking out the policy, with the option of a single annual premium or 12 monthly payments of € 100 per additional payment
Partial and/or total cash-out option after 30 days with € 50 fixed fee
Death bonus: principal increase calculated as a variable percentage according to the insured person’s age
3. Customised UNIT Linked policies
BAC BEST Player
This is a PERSONALISED, single-premium UNIT LINKED policy with the possibility of additional payments:
€500,000 on subscription
€50,000 per additional payment
Possibility of partial and/or total redemption without additional costs or redemption penalties.
BAC BEST Protection
This is a CUSTOMISED UNIT LINKED policy with a single premium and the option of additional payments:
€ 200,000 on taking out the policy
€ 20,000 per additional payment
Death bonus calculated on the negative difference with respect to the net premium paid
4. Multi-line policies (Separate Management and Unit Linked)
Life multi-line protected
Multi-line life insurance with a portion of the sums due by the Carrier directly linked to the performance of the Internal Funds chosen by the Policyholder (80% of the premium paid) and a portion linked to the Life Protection Separate Account (20% of the premium paid).
Single premium (minimum € 5,000 – maximum € 300,000) with the option of making additional payments (minimum € 2,000)
Death bonus calculated on the negative difference with respect to the net premium paid
Life Multi-line Guaranteed 70
Multi-line life insurance with a portion of the sums due by the Carrier directly linked to the performance of the Internal Funds chosen by the Policyholder (30% of the premium paid) and a portion linked to the Life Protection Separate Account (70% of the premium paid).
Single premium (minimum € 5,000 – maximum € 350,000) with the option of making additional payments (minimum € 2,000) Death bonus calculated on the negative difference with respect to the net premium paid