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R-Junior insurance and savings account

For your children from birth to 18 years, Raiffeisen Bank has created R-Junior, a product that helps them set aside valuable savings with higher returns than on other Green Code products and with proven tax benefits.
Your benefits
Guaranteed capital at term
Security in the event of death
Free choice of beneficiary
Tax incentives (art.111 L.I.R.)

Deductible amounts

R-Junior premiums are deductible up to the basic limit stipulated in article 111 L.I.R. (672 EUR/person). The minimum policy term is 10 years.

Capital paid out on maturity exempt from income tax.

Situation Maximum annual deductible amount
Singel without children 672 EUR
Singel with 1 child 1344 EUR
Couple without children 1344 EUR
Couple with 1 child 2016 EUR
Couple with 2 children 2688 EUR
Couple with 3 children 3360 EUR
Additional child 672 EUR per child

N.B.: the upper limits refer to the total of all deductible insurance premiums.

The table below gives an indication of the overall tax impact, depending on the term of the R-Junior policy and the marginal tax rate.

Years Marginal tax rate
22% 32% 39%
10 years +/- 1.600 EUR +/- 2.300 EUR +/- 2.800 EUR
20 years +/- 3.200 EUR +/- 4.600 EUR +/- 5.600 EUR
25 years +/- 4.000 EUR +/- 5.750 EUR +/- 7.000 EUR

N.B. Example calculation: Total tax impact of annual premiums of €672

Examples on the basis of the INCOME TAX BRACKETS applicable as from the 2017 tax year:

Marginal tax rate 22%

  • Single person with annual income of +/- 30,000 EUR
  • Married couple with annual income of +/- 60,000 EUR

Marginal tax rate 32%

  • Single person with annual income of +/- 39,000 EUR 
  • Married couple with annual income of +/- 78,000 EUR

Marginal tax rate 39%

  • Single person with annual income of +/- 48,000 EUR
  • Married couple with annual income of +/- 96,000 EUR

Terms of the savings plan

R-Junior covers the key aspects of security and savings. The capital is paid out to the beneficiary on the agreed date, regardless of whether the insured party is still alive or not.

R-Junior is also the right choice if you want to insure your children’s future. 
In the event of death of the insured party, Raiffeisen-Life:

  • Pays out the insured capital to the beneficiary
  • Pays the remaining premiums until the contract expires

Note: if the insured party dies, the capital is therefore paid out twice: once on the death of the insured party and again at the term of the policy.

R-Junior Insurance

To set up a savings scheme for your children and grandchildren while reducing your tax burden, get in touch with a Raiffeisen advisor.

Choose your beneficiary

The R-Junior policyholder is free to choose who will benefit at the policy term or in the event of death.

Technical characteristics

  • R-Junior may be a single-life or joint policy. In a joint policy, the death payment is made for the first death of the two insured parties.
  • The age at the start of the policy is set with reference to the closest birthday to the date on which the policy takes effect.
  • Minimum subscription period: 10 years
  • Maximum age at term:
  • Primary cover: 75
  • Additional cover: 65 (50 for disability due to illness)
  • Minimum periodical premiums: €50 per month or €600 per year,
  • Premiums payable on the dates set in the agreement
  • Possibility of depositing an amount of your choice/single premium payment: no
  • Minimum capital at term: €8,000
  • Reset option: yes

Transactions during the life of the policy

Conversions, reductions, policy loans and cash surrender are always possible, subject to the conditions and limits set out in the policy’s general terms and conditions. In the event of a reduction in the policy, the additional cover is cancelled.

Any questions?

We are here to answer your questions and can put you in contact with the right people depending on your requirements.