Module 120 min2510 wordsFree — no account
Benefit minus premiums, and when only half of it counts
The module’s worked examples, then cases to attempt before revealing their solution · 1 section · 150 words · 2 min
Practical case
In full or half?
On 1 March 2011 Mr Yilmaz took out an endowment policy with adequate death cover. He celebrated his 60th birthday in January 2026, and the benefit of 38,000 euros is paid out in June 2026. He paid 30,000 euros in total. What amount is to be taken into account as investment income?
Hint: First check which age limit applies to a contract signed in that year, then the term.
Show the solution
The gap is 38,000 euros minus 30,000 euros, i.e. 8,000 euros. The contract was concluded before 1 January 2012, so the age limit of 60 from the statute applies, not the 62 of the transitional provision. Mr Yilmaz completed his 60th year of life before the payout. More than twelve years lie between March 2011 and June 2026. The death cover is adequate. Both conditions are met, and half of 8,000 euros is taken into account.
Answer: 4,000 euros
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