Insurance companies are increasing returns following the ECB rate hike. BBVA stands out with 4.1% on its life annuity, offering a lifetime monthly payment of 310 euros for those contributing 100,000 euros.
Insurance companies have adjusted their savings product offerings following the recent ECB rate hike to 2.5% on September 10, allowing them to increase the returns on their insurance products. According to expansion.com, BBVA's offer stands out, providing an annual return of 4.1% on its guaranteed life annuity for 60-year-olds. This product guarantees a monthly payment of 310 euros for those contributing 100,000 euros in premium.
Additionally, BBVA offers other products with different returns, such as its Guaranteed Savings Plan, which offers 2.45% annual over three years, and the Guaranteed Pension Plans (PPA), which yield 3.79% annual over fifteen years.
On its part, Santander offers its RAV 101 Patrimonios Insurance, with a net interest of 3.36% for clients aged 70. CaixaBank presents its Flexible Reserved Capital, which guarantees a monthly income of 266 euros for clients aged 60 with a premium of 100,000 euros.
Other insurers such as Mapfre and Mutua Madrileña have also updated their offers, providing competitive returns on their life annuity insurance. While Mapfre promises a return of 3.6%, Mutua Madrileña has launched the Plan Ahorro Plus Fidelidad IX with a guaranteed return of 2.90% in the first year.
The diversification in offers and competition among financial entities allow savers to choose products that fit their needs and return expectations.
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