Since the designated beneficiary becomes the holder of a right of his own to the insurance benefit, his right is transferable mortis causa; Life insurance contracts with the designation of a beneficiary other than the contracting party in fact carry out a transmission of the mortis causa wealth which can be accompanied by the will or by the use of other tools in planning the generational handover life insurance estate planning.

Furthermore, the insurance stipulated on the life of the third party is also valid, but its consent is required for its validity if it is insurance for the event of death, consent that can be contained directly in the contract or in a separate document that expressly refers to the policy to which refers.

Alongside the traditional models of life policies there are also the so-called unit linked or index linked policies which have investment purposes and are aimed at managing wealth and seeking returns. These policies also have tax advantages that improve the financial return of the assets thus invested.

The choice of the type of policy to be subscribed from among the existing ones requires an analysis of the various types and objectives set by those who wish to subscribe as they perform different functions from each other.

Often the desire of the subscriber, in the context of asset protection, is to steal the assets to the potential attacks of creditors, to remove it from the availability of unwelcome subjects and to protect it from dispersion.

In this case, the life policy proves to be a very useful and suitable tool to meet these purposes as:

the sums owed by the insurer to the policyholder or beneficiary cannot be subject to enforcement or precautionary action;

 it is possible to designate a beneficiary and possibly modify or revoke it during the relationship;

 in many cases the policyholder can redeem the policy before the event occurs.

As regards the use of life policies as a wealth planning tool, it is interesting to underline that the services provided by the insurance companies to the heirs and beneficiaries designated by the life policy, in the event of the death of the insured, are not subject to inheritance tax. , as these are sums that are due to the beneficiary of the policy not by inheritance, but by virtue of the insurance contract and, therefore, by the right of the beneficiaries / heirs.

When signing a policy, however, it is important to be aware of the characteristics of the instrument being signed as in some cases they are not granted the tax regime of advantage in succession outlined above and the benefit of attachment and non-sequestration.