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.