Capital is a new generation savings product that includes deposit functions, life insurance and tax incentives.
“The change in tax legislation is an important event of 2021 for the life insurance industry. Users of endowment life insurance programs, among other benefits, are now eligible for a reduction in the taxable base for calculating individual income tax. The endowment insurance contract will allow our client to receive a higher salary than in 2020 thanks to tax benefits. This is a new incentive to develop and promote endowment insurance programs, because it has become even more lucrative now to form our future capitals in life insurance companies,” notes Kairat Chegebayev, the Board Chairman of JSC LIC Nomad Life.
The program guarantees a return of up to 2% in foreign currency, as well as up to 10% - from the tax benefits. The rate does not change during the insurance period. One of currently important advantages of the Capital product is the absence of restrictions associated with COVID-19. The program has a number of legal privileges, including an understandable inheritance procedure, when the client chooses an heir, who will receive an insurance payment in the event of the client's death. The insurance period is from 7 to 15 years, the minimum premium is $100.
You can review the program and conclude an agreement on the website www.nomadcapital.kz