Is Mediolanum Vita really worth it?
If you are looking for a life insurance policy or a retirement fund, perhaps you have already come across Mediolanum Vita, the insurance company of the Mediolanum Banking Group.
Let’s find out together what the offer proposed by Mediolanum consists of.
Mediolanum Vita: who is
Mediolanum Vita S.p.A. operates exclusively in the life and supplementary pension sector, offering innovative solutions for every need.
Wanting to speak in numerical terms, the net premiums recorded in 2018 amounted to over €2,854 million.
As far as the sales network is concerned, Mediolanum Vita makes use of the distribution network of Banca Mediolanum, composed of financial advisors authorized to offer off-site, able to cover the entire Italian territory in a widespread way.
The products offered by Mediolanum Vita
Mediolanum Vita S.p.A. offers different product lines depending on the different needs of the customer. In particular, there are:
- Solutions for the investment
- Solutions for the pension
- Solutions for the protection
Let’s see them with one by one.
Solutions for the investment
The policies include this category:
- the Mediolanum My Life
- Mediolanum Personal PIR
- Mediolanum Capital New
- Life Funds
- Mediolanum New Generation
the Mediolanum My Life
It is a type life insurance contract unit linked whose duration corresponds to the entire life of the insured who allows To combine financial planning with insurance coverage. .
Being fully customizable, the contractor may decide whether to make:
- Single Prize with a minimum of € 50,000;
- Pic Programmato Double Chance with a minimum of €50,000;
- The combination of both, for a total of € 50,000 (of which at least € 25,000 of Pic Programmato Double Chance);
- Scheduled Premium Plan with a minimum of € 60,000 (Eitial prize between 10% and 30% of the total amount of the Plan and in any case not less than € 18,000, minimum duration 10 years and a maximum of 25 years).
As part of the My Life Mediolanum offer, the Mediolanum My Life Special, Mediolanum My Life Wealth andMediolanum My Life Wealth Extra, policies are also available.
Mediolanum Personal PIR
It is a unit-linked life insurance contract whose duration corresponds to the entire life of the insured person who is characterized as an insurance investment product that is part of the qualifying investments for the establishment of an Individual Long-Term Savings Plan (PIR).
In particular, the plan provides the following subscription and minimum methods:
- Single Prize with a minimum of € 2,500 and a maximum of € 30,000;
- Schedule of scheduled prizes with nominal value of the Minimum Plan € 6,000 and a maximum € 150,000 (Initial prize equal to at least one Unit Award and in any case not less than € 1,000).
Mediolanum Capital New
It is a unit-linked life insurance contract in mixed form that is characterized as an insurance investment product that allows the accumulation of a capital in the long term, combining the advantages of a professional investment diversified in international financial markets with the benefits of an insurance product (presation case death, rewarding bonus system).
The subscription methods include:
- Single payment, with a minimum investment of € 25,000 for initial payment, € 5,000 for additional payments
- Rembankable cancellations, with a minimum investment of € 500 for the initial payment, € 100 for subsequent payments.
Life Funds
It is a unit-linked life insurance contract whose duration corresponds to the entire life of the insured person who is characterized as an insurance investment product that allows you to build a capital in the medium to long term through the personalized investment in a diversified portfolio whose composition is maintained over time.
The subscription methods include:
- Single payment with minimum investment of € 2,500 for the first deposit and €500 for additional payments
- Scheduled payment plan with a minimum investment of €1,200 for the first payment and €100 for subsequent payments.
Mediolanum New Generation
It is a unit-linked life insurance contract whose duration corresponds to the entire life of the insured who is characterized as an insurance investment product dedicated to those parents/grandparents who wish to ensure their children/grandchildren the availability of capital for their future.
The only possible way to subscribe is that of the CAP (Plan of Schedule of Scheduled payments) with a minimum investment of € 1,200 as an initial premium and € 100 as a unit monthly premium.
The payment plan can be 132 (10 years), 156 (12 years), 192 (15 years) and 228 Unitary Awards (18 years).
As for the Investment profile, only the Balanced one is expected, characterized by the presence of the Life Cycle, the automatic relocation of the investment that provides for the gradual transition from a predominantly share investment to a predominantly bond, using a mix of the following 3 funds:
- Stock Step
- Obligatory Step
- Obligatory short term bis
Finally, the total and partial redemption with a minimum amount of € 500 and residual capital of at least € 2,500 is also possible.
Solutions for the pension
This category includes the Tax Benefit New Mediolanum pension fund which replaced the Previgest Mediolanum fund.
It is an individual pension of an insurance type whose maturity coincides with the retirement age.
However, the adhering has the possibility to extend the duration of the accumulation phase beyond the achievement of the retirement age provided that, at the date of retirement, it can make at least one year of contribution in favor of supplementary forms of social security.
Returning to the forms of supplementary pension provision, Mediolanum Vita Tax Benefit New allows you to enjoy the reduced tax regime as the contributions paid can be brought into deducting from the total income for an amount of up to € 5,164.57.
At the time of redemption, then, the taxable part of the services (in the form of capital or annuity) is subject to a withholding tax with a rate of 15% reduced by a share of 0.30% percentage points for each year exceeding the 15th year of participation with a maximum reduction limit of 6 percentage points.
The planned investment profiles are 3: Prudent New, Balanced New and Dynamic New as a function of the personal propensity for volatility. There is also a personal profile for those who love to invest independently.
As regards costs, they are as follows:
- Accession costs of zero;
- Contribution costs for a constant amount equal to 3% of each individual contribution, with a fixed sum of a fixed amount on the payments of TFR a.e.
- Management fees from 1.05% to 2.95% on an annual basis of the assets of the UCITS;
- Expenses for transfer to other pension form 1% of the amount transferred with a minimum of €25 and a maximum of € 100.
Solutions for the protection
Finally, the policies include:
- Personal Life Serenity
- Mediolanum Life Protection
Personal Life Serenity
It is a temporary death policy that is aimed at people who want to guarantee their loved ones a capital to meet the economic needs in case of death of the Insured.
The guarantees provided for are therefore the following:
- Insured capital for the death case;
- Flash Benefit Service: recognition of an advance of compensation in advance;
- Additional accident guarantee: recognition of an additional capital that doubles if the death occurred due to a road accident.
Being a highly customizable and flexible insurance policy that rewards the health and correct lifestyle of the same with a discount on the rate, it is the same customer who chooses the amount of the insured capital and the duration of the policy by filling out a questionnaire aimed at verifying their health conditions and lifestyle.
Based on the answers to the questionnaire, the company can recognize the following discounts that will be applied to the basic prize:
- One discount: 15% on the base premium
- Plus discount: 25% on the basic premium
- Top Discount: 35% on the base premium
Both the premium and the sums insured out of the Insurance Proposal are indexed to the cost of living, in order to maintain the value of the initially defined coverage over time.
Mediolanum Life Protection
This is the new insurance solution for the coverage of the death case, offered in combination with the underwriters of the mortgages placed by Banca Mediolanum.
It provides for the liquidation of a capital for the repayment of the residual debt of the loan, in the event of the death of the insured during the term of contract.
As for the method of payment, Mediolanum Life Protection is a single premium so the amount of the premium is financed within the mortgage installment.
Alternatively, Mediolanum Life Protection Premio Annuo is also available in which the amount of the prize is charged directly on the c / c of the customer subscriber to the mortgage.
Technology and management
Mediolanum Vita allows its customers to access an Area Reserved on your site in order to proceed with the consultation of its insurance relationships in place.
To access the Reserved Area it is necessary to have a Personal Access Code that can be requested from the Company by sending the form available on the website or by contacting your Family Banker.
Mediolanum Vita: opinions of the web
Taking a tour on the web are found, especially about the pension fund Mediolanum, opinions Pretty flattering.
To give you further guarantee there is also the Mediolanum TaxBenefit New Protection formula, created to further protect the insured from all those events that could compromise the continuation of the contribution to its social security fund such as in case of injury, illness and total disability.
The adherent on the plan is in fact recognized a compensation in the form of capital in order to feed the pension plan of Tax Benefit New of Mediolanum Vita S.p.A. having three ceilings of provisions of: € 30,000, € 60,000 and € 100,000.
These coverages are triggered both as a result of accidents during working hours with a consequent disability of less than 66% or for physical incapacity following illness (always of the same percentage) to continue their profession. The protection premium is deductible annually with a maximum of €530.
By subscribing to this additional guarantee to the Mediolanum Tax Benefit fund, in case of loss of the workplace you can get a guaranteed daily refund, up to a maximum cirfra of € 400 per month, once it exceeds the 60th consecutive day of disuse, starting from the first day. The duration of compensation is 12 months.
But that’s not all. If you were to take surgery you also receive compensation of € 4,800.
Mediolanum Vita: opinion of jadnews
Undoubtedly the offer of Mediolanum Vita is quite wide.
Nevertheless, there are also numerous limits and related costs that must always be taken into account when you want to evaluate the subscription of a life insurance policy.
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