Life insurance: levy raised to 25% on the share of death benefits above €902,838 per beneficiary

Article 11 of the amending finance act of 29 July 2011 amends the Article 990 I levy on life insurance benefits paid on death (premiums paid before age 70). After the €152,500 allowance per beneficiary, the levy is 20% up to the lower limit of the seventh bracket of the direct-line inheritance tax scale (€902,838 in 2011) and 25% above it. The same article redefines the territorial scope of the levy and splits the base between bare owner and usufructuary where the beneficiary clause is divided. It applies to deaths occurring from the act's entry into force. For deaths from 1 July 2014, Article 9 of the amending finance law for 2013 replaced this scale (20% up to €700,000 and 31.25% above).