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Compare life insurance
in Luxembourg

LALUX, Foyer, Baloise and AXA compared — security triangle, uncapped super-privilege, 1.75% guaranteed rate, ESG funds, taxation by country and Lombard loan · Updated 21 July 2026

✦ Featured
LALUX Assurances-Vie
LALUX easyLIFE
LALUX Assurances-Vie
easyLIFE MixteInvest for FutureProtection
#1 life insurer in the Grand Duchy
easyLIFE Mixte: 1.75% guaranteed rate
Invest for Future: ESG funds (SFDR Art. 8/9)
Uncapped super-privilege · Spuerkeess shareholding
✓The Grand Duchy's leading life insurer, Compagnie Financière LA LUXEMBOURGEOISE + Spuerkeess shareholding, 226% solvency ratio
✓easyLIFE Mixte: guaranteed capital with a 1.75% guaranteed rate over the whole term + profit-sharing (risk indicator 1/7, the lowest)
✓easyLIFE Invest for Future: 3 formulas (Safe, Balanced, Dynamic) and sustainable ESG-labelled funds (SFDR Article 8 and 9)
✓Accessible from €50/month (Invest for Future), initial single premium from €1,000
✓Capital available at any time, freely designated beneficiaries, direct-line inheritance exemption (Luxembourg law)
✓easyLIFE Prévoyance for pure protection of loved ones (death capital up to x4 in case of accident)
✓Uncapped super-privilege — assets segregated via the security triangle, supervised by the Insurance Commission (CAA)
✓Contained entry fees (Mixte 0.4% impact, Invest for Future 3%), online tax simulator and support from a dedicated agent
Official source (IPID): LALUX Assurances-Vie ↗
Foyer Vie
Foyer smartlife & invest4change
Foyer Vie
smartlifeinvest4change
1st LGX ESG-labelled contract in Luxembourg
CapitalatWork Foyer Group management
€0 exit fees
Guaranteed capital + UL, managed or free
✓Two ranges: smartlife (multi-vehicle, up to 4 risk profiles) and invest4change (responsible ESG investment, from €200/month)
✓1st LGX (Luxembourg Green Exchange) labelled contract and 1st insurance product awarded the LuxFLAG Sustainable Insurance label in Luxembourg
✓Management entrusted to CapitalatWork Foyer Group, the group's wealth manager (over 30 years of experience)
✓ESG funds selected on environmental, social and governance criteria (equities and bonds)
✓Combination of guaranteed capital + unit-linked, discretionary (delegated) or free management
✓€0 exit fees — full flexibility on surrenders
✓Death capital = accumulated savings, paid to designated beneficiaries (security triangle)
✓myfoyer.lu client area and the Foyer nationwide agency network
Official source (IPID): Foyer Vie ↗
Baloise Vie Luxembourg
Baloise Life Plan
Baloise Vie Luxembourg
SavingsProtectionOld-age provision
S&P A+ rating (Baloise group)
Baloise group expertise since 1863
100% digital FAS with Swissquote
Multi-profile funds + protection options
✓Life Plan range: savings, protection and old-age provision in a single contract
✓S&P A+ rating — backed by the Baloise group (founded 1863), now Helvetia Baloise group since end 2025
✓Over €14 billion of assets managed in Luxembourg
✓100% digital FAS (Specialised Insurance Fund) launched with Swissquote Bank Europe
✓Multi-profile investment funds, from defensive to dynamic (risk borne by the policyholder)
✓Built-in protection options: death, disability, critical-illness cover
✓Combination of euro fund / unit-linked depending on the risk profile
✓Capital passed to designated beneficiaries, within the Luxembourg security triangle
Official source (IPID): Baloise Vie Luxembourg ↗
AXA Assurances Vie Luxembourg
AXA Borea Invest
AXA Assurances Vie Luxembourg
Borea 30 Neo (guaranteed)Unit-linked
Net guaranteed rate min. 1.75% for 8 years
Net return 2.60% in 2025 (2.35% in 2024)
Capital 100% guaranteed at all times
First payment from €2,500
✓Borea Invest: free-payment contract, guaranteed-rate fund (Borea Invest 30 Neo) and/or unit-linked
✓Net guaranteed rate of minimum 1.75% for 8 years — the net rate applies after entry fees are deducted
✓Total net contract return of 2.60% in 2025 and 2.35% in 2024 (profit-sharing included)
✓Capital built up guaranteed 100% at all times on the Borea Invest 30 Neo fund
✓Unit-linked funds managed by AXA Investment Managers to target a higher return
✓Minimum first payment €2,500, free additional payments from €1,250
✓Max 3% entry fees, one free switch per year, guaranteed fund with no management fees
✓Online savings simulator on axa.lu, flexible capital payout
Official source (IPID): AXA Assurances Vie Luxembourg ↗
Switchr methodology. The features (guaranteed rate, fees, returns, funds) are taken from the insurers' official KIDs and financial information sheets (FIF). Solvency ratios: 2024 SFCR reports (Milliman analysis). Past performance is no guarantee of future performance. Sources: lalux.lu · foyer.lu · baloise.lu · axa.lu · caa.lu

Your contract, with a Luxembourg life insurer

LALUX easyLIFE: protected capital or ESG funds, uncapped super-privilege and personalised tax optimisation. Free quote, no commitment.

The 4 local life insurers in Luxembourg
Four local companies supervised by the Insurance Commission (CAA).

In Luxembourg, the life insurance market splits into two categories: local insurers, accessible to the general public from small monthly amounts, and international insurers (Vitis Life, La Mondiale Europartner, Baloise Vie International) aimed at wealth clients from €100,000 to €250,000. Protected by the security triangle and the super-privilege (first-rank creditor, no ceiling), Luxembourg contracts offer security unrivalled in Europe. Here are the 4 local insurers: LALUX, Foyer, Baloise and AXA.

4
Local life insurers (CAA)
∞
Uncapped super-privilege
1.75%
Guaranteed rate (LALUX Mixte, AXA Borea)
~€50
Entry monthly premium

Periodic premiums start from ~€50/month at LALUX and Baloise, while international wealth contracts require an entry ticket from €100,000. As Luxembourg is tax-neutral, it is your country of residence's taxation that applies.

The security triangle
Why Luxembourg protects your savings better.

The security triangle is the saver-protection mechanism unique to Luxembourg. It rests on three players that together guarantee the total separation between your assets and the insurer's balance sheet. Reinforced by the law of 10 August 2018, this scheme offers a level of protection unrivalled in Europe.

1
The insurer

It manages the contract but does not physically hold the assets. Your funds are never part of its own balance sheet.

2
The approved custodian bank

It holds your assets in a segregated account, separate from the insurer's holdings. It must be approved by the CAA (mandatory tripartite agreement).

3
The Insurance Commission

The CAA supervises everything, performs quarterly checks and can intervene directly to protect policyholders.

The super-privilege: first-rank creditor, no ceiling

If the insurer fails, the Luxembourg super-privilege makes you a first-rank creditor: you are repaid as a priority before the State, employees, social-security bodies and shareholders. Since the law of 10 August 2018, claims are distinguished by nature — euro funds (guaranteed rate) and unit-linked —, each backed by a separate, separately managed pool of assets. And unlike the French FGAP capped at €70,000, the super-privilege has no ceiling. Luxembourg contracts are also not subject to the Sapin 2 law (withdrawals can be frozen in France). See our full security triangle guide.

Contract types and funds
An investment universe classified under CAA circular 26/1 (since 1 February 2026).

Luxembourg life insurance offers a far broader investment universe than French contracts. The funds are classified under CAA circular 26/1 (in force since 1 February 2026, replacing LC 15/3), which defines the investor profiles based on net financial wealth. It adds an intermediate €2.5–10M segment, authorises direct investment in structured products under conditions (with consent), harmonises FIC/FID rules and requires "Value-for-Money" transparency with product and target-market governance. Local contracts (LALUX, Foyer, Baloise, AXA) fall under profile A; beyond that, you access dedicated funds (FID) and specialised insurance funds (FAS).

Indicative thresholds (CAA circular 26/1), varying by insurer. Updated 21 July 2026.
ProfileAccessible fundsWealth requiredIdeal for
Profile AExternal Funds (FE) + Internal Collective Funds (FIC)< €125,000Cautious savers, local contracts (LALUX, Foyer, Baloise, AXA)
Profile BFE + FIC + structured funds€125,000 – €250,000Intermediate investors
Profile CFID + FAS (Dedicated Internal Fund + Specialised Insurance Fund)€250,000 – €2.5MBespoke management, private equity, private debt
Profile DFID + FAS + broader unlisted assets> €2.5MFully free management, alternative assets

On local contracts, the choice is essentially between guaranteed capital (1.75% guaranteed rate at LALUX Mixte and AXA Borea) and unit-linked (equity, bond, ETF and ESG funds). Most contracts let you combine the two and adjust the split by your horizon. Above €250,000, FID and FAS open bespoke management and access to unlisted assets.

Our analysis of the 4 insurers

A comparative reading of the contracts — strengths and differentiation.

LALUXLALUX easyLIFE

A Luxembourg-rooted insurer (LA LUXEMBOURGEOISE + Spuerkeess shareholding, 226% solvency ratio). The easyLIFE range covers every need: easyLIFE Mixte (guaranteed capital, 1.75% guaranteed rate + profit-sharing, risk indicator 1/7), easyLIFE Invest for Future (3 formulas Safe / Balanced / Dynamic and sustainable ESG funds classified SFDR Article 8 and 9) and easyLIFE Prévoyance for pure protection (death capital up to x4 in case of accident). Accessible from €50/month (single premium from €1,000), capital available at any time, freely designated beneficiaries and direct-line inheritance exemption. Online tax simulator and dedicated agent.

FoyerFoyer smartlife & invest4change

Foyer offers two ranges: smartlife (multi-vehicle contract, up to 4 risk profiles) and invest4change (responsible investment, from €200/month) — both the 1st LGX-labelled contract (Luxembourg Green Exchange) and the 1st insurance product awarded the LuxFLAG Sustainable Insurance label in Luxembourg. Management is entrusted to CapitalatWork Foyer Group, the group's wealth manager (over 30 years of experience), which selects funds on ESG criteria (equities and bonds). The contract combines guaranteed capital and unit-linked, in discretionary or free management, with €0 exit fees. Nationwide agency network and myfoyer.lu client area.

BaloiseBaloise Life Plan

The Life Plan range covers savings, protection and old-age provision in a single contract. Baloise holds an S&P A+ rating, is backed by the Swiss group founded in 1863 (now Helvetia Baloise after the merger completed on 5 December 2025) and manages over €14 billion of assets in Luxembourg. Its distinctiveness: a 100% digital FAS (Specialised Insurance Fund) launched with Swissquote Bank Europe, plus multi-profile funds (from defensive to dynamic, the financial risk borne by the policyholder) and built-in protection options (death, disability, critical illness). All within the Luxembourg security triangle.

AXAAXA Borea Invest

The Borea Invest contract bets on security with performance: a net guaranteed rate of minimum 1.75% for 8 years on the Borea Invest 30 Neo fund, with capital built up guaranteed 100% at all times. The total net contract return was 2.60% in 2025 (2.35% in 2024), profit-sharing included. To aim higher, unit-linked funds managed by AXA Investment Managers round out the offer. Free payments (first payment €2,500), one free switch per year, online savings simulator on axa.lu.

Which contract for which profile? (August 2026)

Security & transmission
LALUX easyLIFE Mixte
1.75% rate guaranteed for the whole term, risk 1/7, 226% solvency, direct-line exemption.
Best realised net return
AXA Borea Invest
2.60% net in 2025 (> 2.35% in 2024), capital 100% guaranteed.
Responsible investor (ESG)
Foyer invest4change
Only LGX + LuxFLAG dual label, CapitalatWork management, €0 exit fees.
Rating & digital
Baloise Life Plan
S&P A+ rating, 100% digital FAS with Swissquote, built-in protection options.
Modest monthly payment
LALUX / Baloise
Periodic premiums from ~€50/month (Foyer invest4change from €200/month).
Single premium / large assets
AXA Borea Invest
First payment €2,500; above €250k, FID/FAS (profile C) with all of them.
Fees and pricing 2026
The silent criterion that weighs on your final capital.
📥
Entry fees
0% to 3%

Charged on each premium. Most online brokers charge no entry fee. LALUX Invest for Future: 3%; AXA Borea: max 3%.

⚙️
Management fees
0.30% to 1.00%/yr

Decreasing with assets: ~1% below €250,000, down to 0.30% above €1M. The AXA Borea 30 Neo guaranteed fund has no management fees.

🏦
Custodian bank
0.03% to 0.10%/yr

Custody fees for the segregated assets (security triangle). Very low, decreasing with assets.

Fees are generally decreasing: the higher your assets, the lower the management fees. They become very competitive from €250,000 of assets (estimated total cost 0.65 – 0.90%) and drop below 0.55% above €1M. Over a 10-year-plus horizon, a gap of a few tenths of a point represents several thousand euros. Excluding fund fees (UCITS, varying by fund). Exact pricing is personalised: ask for a quote for your profile.

Taxation by country of residence
Luxembourg is neutral: your country of residence taxes.

Luxembourg is tax-neutral: it taxes neither the premiums, nor the gains, nor the capital passed on death. It is your country of residence's taxation that applies. Here is an overview for the main countries — to confirm with a tax adviser for your situation.

Sources: Legilux (LU), art. 125-0 A, 990 I and 757 B CGI (FR), CIR (BE), EStG/ErbStG (DE). Indicative, 21 July 2026.
CountrySurrendersAfter 8 yearsInheritance
🇱🇺 LuxembourgNo income tax (under conditions)Favourable regime maintainedFull direct-line exemption
🇫🇷 France30% flat tax (12.8% IT + 17.2% SC)24.7% + €4,600 / €9,200 allowance€152,500/beneficiary allowance (art. 990 I)
🇧🇪 BelgiumBr. 21: 30% if surrender < 8 yrs; Br. 23: exempt (2% entry tax)0% (br. 21)Duties vary by region
🇩🇪 GermanyAbgeltungssteuer ~26.4%Halved tax if > 12 yrs and age > 62Allowances spouse €500,000, children €400,000

Tax rules vary by personal situation; consult an approved tax adviser. For French residents, an annual declaration (form 3916-BIS) is mandatory for any account held abroad. In Belgium, a new 10% flat tax on gains from financial assets (law of 2 April 2026, retroactive to 1 January 2026) applies on exit/surrender of branch 21, 23 and 26 contracts (Belgian and Luxembourg alike). It provides an annual €10,000/person exemption (indexed), with the unused portion carried forward up to €15,000 over 5 years. Pension products (2nd and 3rd pillar) are excluded. An exit tax applies when leaving Belgium, with automatic deferral where the move is to an information-exchange country such as Luxembourg. See our guide to provision taxation.

The Lombard loan
A unique wealth lever, unavailable on a standard French contract.

The Lombard loan is a loan backed by your life insurance contract pledged as collateral. It lets you obtain liquidity without surrendering your contract — and therefore without triggering tax on your gains. It is one of the recognised tools of Luxembourg wealth management.

📊
LTV (Loan-to-Value)
50% to 70%

Percentage of the value of pledged assets the bank agrees to lend.

💶
Interest rate
€STR + margin

Variable rate indexed on Euribor / €STR, plus a margin by bank. Renewable annually.

⚠️
Main risk
Margin call

If asset value falls below the coverage threshold, the bank may require a partial repayment.

Common uses: property purchase (to combine with a Luxembourg mortgage), wealth leverage, cash optimisation. Key advantage: the loan is not taxable income, allowing you to finance a project without liquidating your savings or triggering tax on gains.

Life insurance Luxembourg vs France
Why choose Luxembourg? The key differences.
Switchr summary. Indicative, to confirm for your situation. Updated 21 July 2026.
Criterion🇱🇺 Luxembourg🇫🇷 France
Capital protectionUncapped super-privilege (2018 law)FGAP capped at €70,000
Sapin 2 lawNot subjectWithdrawals can be frozen (HCSF)
Fund architectureOpen — broad selection by profileVaries by contract
Multi-currencyEUR, USD, CHF, GBP…EUR only (as a rule)
Lombard loanAvailableUnavailable on standard contracts
International portabilityThe contract follows the expatComplex to maintain abroad
Private equity / FASFrom profile C (€250,000)Limited by contract
Entry ticket (wealth)From €100,000From a few hundred euros
Local contractsLALUX, Foyer, Baloise, AXA from ~€50/moNot applicable

Our analysis: Luxembourg life insurance is relevant from €100,000 of assets and becomes essential above €250,000. For smaller wealth, local contracts (LALUX, Foyer, Baloise, AXA) from ~€50/month already offer security-triangle protection. Below €50,000, a good French contract remains simpler and cheaper.

Comparison table
A synthetic read of the 4 local life insurers in Luxembourg.
Switchr summary based on official KIDs/sheets (LALUX, AXA) and public data (Foyer, Baloise). Indicative. Past performance not guaranteed. Updated 21 July 2026.
CriterionLALUXFoyerBaloiseAXA
ProducteasyLIFEsmartlife / invest4changeLife PlanBorea Invest
Guaranteed capitalMixte: 1.75% ratesmartlifeEuro fundBorea 30 Neo: 1.75% net
ESG fundsSFDR Art. 8/9LGX labelMulti-profileAXA IM
Net return 2025Profit-sharingProfit-sharing—2.60%
Exit feesDecreasing (0% at maturity)€0By contractDecreasing (0% after 3 yrs)
Minimum payment€50/mo (€1,000 single)€200/mo~€50/mo€2,500 (first payment)
Strength226% solvencyCapitalatWorkS&P A+ ratingAXA group
Online subscription✓ + agentAgencyDigital FAS SwissquoteAgency + simulator
Go further
Our life insurance, savings and wealth guides for Luxembourg.
🛡️ProtectionThe Luxembourg security triangleRead → 🎯RetirementPension savings comparator (art. 111bis)Read → 📉LoanMortgage protection insuranceRead → 🏠FinancingMortgage in LuxembourgRead →
Frequently asked questions
Everything you need to know about life insurance in Luxembourg.

What is the best life insurance in Luxembourg?

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In August 2026, the best contract depends on your goal, and each goal has a clear winner. Security and transmission: LALUX easyLIFE Mixte — a 1.75% rate guaranteed for the whole term, the lowest risk (1/7), a 226% solvency ratio and exemption from inheritance tax in the direct line; it is the strongest on guarantee and transmission. Best realised net return: AXA Borea Invest — 2.60% net in 2025 (versus 2.35% in 2024), capital 100% guaranteed, making it the highest net return in the comparison, ahead of LALUX's 1.75% guarantee. Responsible investor (ESG): Foyer invest4change — the only contract dual-labelled LGX and LuxFLAG Sustainable Insurance, with €0 exit fees. Financial rating and digital: Baloise Life Plan — an S&P A+ rating and a 100% digital FAS with Swissquote, the strongest on financial strength. For access: monthly payments from ~€50/month (LALUX, Baloise), €200/month (Foyer invest4change), or a €2,500 first payment (AXA).

What is the Luxembourg security triangle?

▼
It is a protection mechanism unique in Europe based on three players: the insurer, an approved custodian bank and the CAA. Your assets are physically separated from the insurer's balance sheet and deposited with the custodian bank in a segregated account. The super-privilege ranks you as a first-rank creditor, with no ceiling (unlike the French FGAP capped at €70,000). The scheme is reinforced by the law of 10 August 2018.

What are the 4 local life insurers in Luxembourg?

▼
Four local insurers supervised by the CAA offer life insurance to the general public: LALUX (easyLIFE, Luxembourg-based, 226% solvency), Foyer (smartlife and invest4change, 1st LGX- and LuxFLAG Sustainable Insurance-labelled contract, from €200/month), Baloise (Life Plan, S&P A+ rating, 100% digital FAS with Swissquote) and AXA (Borea Invest, net guaranteed rate 1.75%/year for 8 years, 2.60% net return in 2025). LALUX and Baloise offer periodic premiums from around €50/month, Foyer invest4change from €200/month and AXA Borea Invest from a €2,500 first payment.

Can a French resident open a Luxembourg life insurance?

▼
Yes, any French resident can take out a Luxembourg life insurance. The taxation applied is French (30% flat tax, allowance after 8 years, art. 990 I CGI for inheritance). The advantages lie in the enhanced protection (uncapped super-privilege vs €70,000 FGAP), the absence of the Sapin 2 law and access to a broader investment universe. An annual declaration (form 3916-BIS) is mandatory for any account held abroad.

What is the taxation of Luxembourg life insurance?

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Luxembourg is tax-neutral: it taxes neither the premiums paid, nor the gains generated, nor the capital passed on death. It is your country of residence's taxation that applies. For Luxembourg residents, surrenders are not subject to income tax (under conditions) and direct-line transmission benefits from a full inheritance-tax exemption under Luxembourg law.

What is a FID and a FAS?

▼
The FID (Dedicated Internal Fund) is a bespoke investment portfolio managed by an approved manager, accessible from profile C (€250,000 net financial wealth per CAA circular 26/1, in force since 1 February 2026 and replacing LC 15/3). The FAS (Specialised Insurance Fund) allows free or advised management with a broader investment universe. Both are reserved for profiles C and D and give access to assets not available in standard contracts (private equity, private debt).

How does a Lombard loan on life insurance work?

▼
A Lombard loan is a loan secured by your life insurance contract pledged as collateral. The bank typically lends 50 to 70% of the value of your pledged assets. The major advantage: the loan is not taxable income, allowing you to obtain liquidity without triggering tax on your gains. The main risk is a margin call if assets fall below the coverage threshold.

Is Luxembourg life insurance subject to the Sapin 2 law?

▼
No. The Sapin 2 law gives the French HCSF the power to temporarily freeze withdrawals on French life insurance contracts. Luxembourg contracts are not subject to it because they fall under Luxembourg law and are supervised by the CAA. It is one of the key advantages of the security triangle.

How much does life insurance cost in Luxembourg?

▼
Annual management fees range from about 0.30% to 1.00% depending on the assets invested, plus custodian bank fees (0.03 to 0.10%). Fees become very competitive from €250,000 of assets. Pricing is always personalised: LALUX easyLIFE Invest for Future is accessible from €50/month with a single premium from €1,000, AXA Borea Invest requires a first payment of €2,500, and international wealth contracts start at €100,000.

Can you pass on wealth via Luxembourg life insurance?

▼
Yes, it is one of the major strengths. For Luxembourg residents, direct-line heirs benefit from a full inheritance-tax exemption. For French residents, the €152,500 allowance per beneficiary applies to payments made before age 70 (art. 990 I CGI). The beneficiary clause is free and amendable at any time.

What is the return on Luxembourg life insurance in 2025-2026?

▼
It depends on the underlying. On guaranteed-rate funds, LALUX easyLIFE Mixte shows 1.75% guaranteed for the whole term and AXA Borea a net guaranteed rate of at least 1.75% for 8 years (total net return 2.60% in 2025). On unit-linked funds (ESG, equities, bonds), the return is not guaranteed and depends on markets. Luxembourg lets you combine security and performance in one contract.

What is the minimum amount to open life insurance in Luxembourg?

▼
For a standard savings contract, payments start low: from €50/month or a €1,000 single premium at LALUX (Invest for Future), a €2,500 first payment at AXA (Borea), €200/month at Foyer (invest4change). High-end wealth contracts (with dedicated FID/FAS funds) become fully worthwhile from around €125,000 to €250,000 (CAA profiles). Luxembourg therefore suits both modest savers and large estates.

Can you access your money whenever you want on a Luxembourg life insurance policy?

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Yes. Unlike pension savings, life insurance stays accessible: you can make a partial or full surrender at any time. At the contract's maturity (recommended term of at least 8 to 10 years) there are generally no exit fees; for an early surrender, decreasing fees may apply depending on the contract. Taxation depends on your country of residence (neutral in Luxembourg).