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Premiums for a life insurance are not deductible as Uitgaven lijfrenteverzekeringen


I am working since 2000 as a contractor via a management company, so paying all required taxes / social security etc.

I have a mortgage with an associated life insurance policy attached to it. Are the payments for this life insurance policy deductible under ‘uitgaven lijfrenteverzekeringen‘? I have no pension in place, so my "niet-gebruikte jaarruimte" is at the maximum.

The premium for the life insurance is not deductible. A life insurance may lead to a lump sum payment in the future. This lump sum payment would then be paid to you tax free. 
A "lijfrente" is an annuity insurance which pays out income to you in installments for as long as you live from a certain date. There can be many payments, unlike the life insurance which only pays out a lump sum. The premium for the lijfrente insurance can be deductible in which case the related future income is taxable. 
There is a difference between a capital insurance which insures a capital and a lijfrente insurance which insures an income. A life insurance is a non-guaranteed capital insurance. 
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Comments (2)
Comment by Tomoko Yamashita on Wed, Mar 16th, 2016 at 1:15 PM
So how about lijfrentesparen? Is it also possible for expats to save income tax and secure their life for later in this way ?
Comment by Arjan Enneman on Tue, Apr 5th, 2016 at 6:02 PM
Lijfrentesparen is also available for expats. But whether lijfrentesparen is the right solution for you needs to be checked (with a financial planner). Lijfrentesparen has some benefits but also several disadvantages. It is a product for the long term and your money is blocked on the bank account. What happens if you die early? What are the costs involved? Take this in consideration.
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