Garance has unveiled a new boost rate offer on its Euro life insurance fund. For any payment made between April 15 and July 15, the saver benefits from a rate of 6% net of management fees. Please note, to benefit from this, you will have to keep the amounts invested until the end of the year. Explanations.
The Garance mutual insurance company has announced a new offer for holders of its life insurance contracts and new members. For any payment made (on membership, regular or free) to the Garance Epargne euro fund between April 15 and July 15savers will benefit from a rate 6%… on condition of keeping these amounts on the contract until the award date, i.e. December 31, 2024.
This attractive rate of return will be applied pro rata temporis, that is to say in proportion to the time actually elapsed. For example, for a payment made on April 15, the rate that will be applied will start from that date until December 31.
Life insurance rates: the real top 5 best returns 2023
A major subtlety for calculating your interests
We must first of all remember that this rate of 6% is net of management fees and gross of social security contributions. In addition, the mutual charges fees on payment, also calls entry fees, amount of 1% maximum of the amount towards.
For several days, on the MoneyVox forum, questions have been piling up about this offer. So how much will this boost rate operation really bring back to the saver? We will try to answer it with this example:
You make a single payment of 1000 euros on your life insurance contract held with Garance on April 30. The rate of 6% will therefore be applied from April 30 to December 31 on these 1000 euros. Once the installment fees are deducted, only 990 euros will generate interest for 8 months. You will therefore receive 44.55 euros in interest from which you will have to deduct social security contributions of 17.2%. Your net capital gain will amount to 32.80 euros.
Same example but this time for a payment made on June 30th. Your interests net of payment fees and social security contributions will rise 24.60 euros for 6 months of placement.
In addition, payment fees can be negotiated. The saver therefore has every interest in contacting his or her advisor to discuss it, before making any payment.
Please note, the rate of 6% applies only on amounts paid during this period. If you made payments before April 15 or plan to make them after July 15, the normal rate will be applied. What will this rate be? Impossible to know at the moment. And for good reason, the yield for the year 2024 will be announced at the start of 2025. As a reminder, Garance is one of the players in the insurance market having provided the best rates in 2023, i.e. 3.5%.
Compare the best life insurance offers