November 2016

O Advisory > 2016 > November

UNIT LINKED INSURANCE POLICIES AND SETUP OF SUCCESSION: RISK ANALYSIS

  Many individuals, predominantly of Anglo-Saxon origin, living in Italy, as well as a  growing number of Italians are placing their savings into life insurance policies for financial and tax planning. In this connection, we would like to highlight some of the risks that should be taken into account. Reclassification of the Insurance contract An insurance contract, in fact, may be reclassified as a financial brokerage contract (and insurance policies as financial products) with effects from both a statutory perspective (being subject to the Consolidated Finance Act (“TUF“), the non-applicability of the rules of the Civil Code and a fiscal perspective (related to...

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