Roche & Cie

Implementation of the life insurance file

Central Register of life insurance contracts – the “Ficovie” became effective on 1 January 2016. However, it was missing a few elements to make it fully operational. An order of February 29, 2016 has filled this gap.

Set up by the tax administration, the purpose of this paperless file is to collect all the data relating to life insurance contracts underwritten in France to better fight against tax fraud and contracts dormant. Specifically, insurers must, from the start of the year, declare to the tax authorities any subscription and any settlement life insurance contract (or a similar investment) within 60 days following the event .

The text thus specifies all the data that will be gathered in this file. These identification data, such as the establishment of the contract holder, the name of the policyholders, insured and beneficiaries, as well as data relating to the contract. For example, the Ficovie experience nature, the subscription date, the policy number, date and cause of ending the contract.
Are involved in this file:

  • Non-redeemable life insurance policies taken since 20 November 1991 for the cumulative premiums paid between the seventieth anniversary of the subscriber and on 1 January of the year of the declaration, when this amount is greater than or equal to € 7,500;
  • Redeemable life insurance contracts, whatever their date of purchase, for cash value at 1 January of the reporting year, when this value is greater than or equal to € 7,500. The amounts of any capital guarantees at that date, including in the form of annuity, may, where appropriate, be reported if they are greater than or equal to that amount;
  • Other contracts (including capitalization), regardless of their date of purchase, for the cumulative premiums paid on 1 January of the year of the declaration and the redemption value at the same date when that value or this amount is greater than or equal to € 7,500. Again, the amounts of contingent capital guarantees at that date, including in the form of annuity, may, where appropriate, be reported if they are greater than or equal to this amount.

It being specified that these data will be processed by authorized officers of the Financial Directorate and stored, without exception, until the end of the thirtieth year following the filing of the contract settlement statement.