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Product taxation

In the event of redemption

If you redeem your Savings Plan, returns will be taxed as investment income on your personal income taxes. The tax rate to be applied to the savings tax base is 19% for the first €6,000, 21% for up to €50,000, 23% for up to €200,000 and 25% from €200,000.01 onwards. Interest is subject to a 19% withholding upon payment.  

In the event of death

The insurer guarantees payment to the beneficiary/s of the product’s accumulated capital balance plus an additional capital sum of 10%*. 

In the event of death due to accident and only in the case of insured individuals under 65 years of age, beneficiaries will receive the product’s accumulated capital balance plus an additional capital sum of 100% of the mathematical formula, up to €150,000. 

The capital sum paid to the beneficiary will be subject to inheritance and gift tax (ISD), with the application of a 100% reduction in the taxable base on the amount received up to €9,195. Some autonomous communities have higher maximum amounts, as shown below: 

  • €25,000 in Catalonia
  • €500,000 in Aragon
  • €23,150 in the Canary Islands 
  • €250,000 in Navarra
  • €12,000 in Balearic Islands 
  • €50,000 in Cantabria
  • €400,000 in the Basque Country 
  • €9,200 in Madrid

Risk level

This is indicative of the plan’s risk and is calculated on the basis of historical data, which may not be a reliable indication of the plan’s future risk profile. Furthermore, there is no guarantee that the category indicated will remain as it is, as it may change over time

Lower potential returns LOWER RISK
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
Higher potential returns HIGHER RISK

What else can we help you with?


Have any other questions?

How can I know what my Savings Plan’s and Sabadell Savings Insurance performance is for the next quarter or semester?

BanSabadell Life will inform you, in the month prior to maturity, of the new rates to be applied for the next covered period.

Can I change the death beneficiaries of my Savings Plan and Sabadell Savings Insurance?

Yes, it is possible to change beneficiaries at any time. All you have to do is make a request to that effect at your local Banco Sabadell branch.

Thinking of saving for your retirement with tax advantages?

We have a wide range of pension plans and insured pension plans, and we’ll help you choose the best one for you. Learn more

*The additional capital sum will be a maximum of €12,000 (€600 for insured individuals over 65 years of age or with aggravated risk). 

*Covers and services subject to the policy’s terms, conditions, limitations and exclusions as set out in the terms and conditions and schedule.

Savings Plan is a product that can only be taken out by residents of Spain. Savings Plan is a life insurance policy of BanSabadell Vida, S.A. de Seguros y Reaseguros, holder of Tax ID No. A08371908, and with registered office at Calle Isabel Colbrand, 22, 28050 Madrid. Registered in the Madrid Companies Register and in the Insurance Entities Register of the Directorate-General of Insurance and Pension Funds (DGSFP) under code C-0557.

Insurance brokered by BanSabadell Mediación, Operador de Banca-Seguros Vinculado del Grupo Banco Sabadell, S.A., holder of Tax ID No. A-03424223, with registered office at Av. Óscar Esplá, 37, 03007 Alicante. Registered in the Alicante Companies Register and in the Administrative Register of Insurance and Reinsurance Distributors of the Directorate-General of Insurance and Pension Funds (DGSFP) under code OV-0004, having taken out a liability insurance policy pursuant to prevailing regulations on private insurance and reinsurance distribution.