Easy and efficient saving

Savings Contract is an efficient solution for proactive saving and investing. You can influence the investment return target and invest your assets in unit-linked investment objects in the manner of your choosing. Savings Contract is executed within an insurance contract.

The return on your investments is determined on the basis of the value development of the investment objects you have chosen. You can make your selections from Mandatum Life's extensive range of investment baskets and the investment funds of our partners. If you so wish, you can have your wealth managed by our Portfolio Management Service.

Save regularly or make a lump-sum investment

  • You can start saving regularly with as little as 50 euros a month or with a lump-sum investment of EUR 2,000.
  • You can save a larger amount all at once or a smaller amount monthly and put your savings plan on hold at any time. You are not bound by a prescribed period of time.
  • Regular saving is easiest with direct debit or an eInvoice.
  • You can select the investment objects that suit you or you can rely on our Portfolio Management Service.
  • Manage your savings and investments conveniently using Mandatum Life's Web Service, where you can also make changes to your investment objects at no extra charge.
  • You do not need to report your savings in your tax return. You can withdraw your savings capital with no tax consequences, and you are only required to pay the tax when you withdraw the returns.

Taxation of the Savings Contract

With a Savings Contract, capital gains tax is paid only on the accrued returns. The return is calculated so that the contributions that have been paid according to the contract are deducted from the accrued savings. Your savings will generate higher returns since you only pay capital gains tax when you withdraw the returns. From Jan 1st 2015 onwards, the capital gains tax rate is 30% and, for the part of capital gains exceeding EUR 30,000, the tax rate is 33%.

Changing investment objects

You can conveniently change investment objects through our Web Service. No tax is levied on changing investment objects within the Savings Contract. This extends the period during which the tax portion increases the possible return on the investment. Contributions paid according to the contract are not tax deductible.

Tax on withdrawals made before the contract ends

The return on the contract is considered taxable capital gains. The insurance company withholds the tax from the returns to be withdrawn and forwards it to the tax authority. Possible exchange rate losses on investment objects linked to the contract are not tax deductible. If the savings are withdrawn in several instalments, the amount corresponding to the capital under the contract is withdrawn first. Tax is only levied when returns are withdrawn under the contract.

If the contract owner terminates the contract, the sum paid to the contract owner equals the savings under the contract minus expenses according to the price list and any possible withheld taxes.

Investments that take your life situation into account

Investing within an insurance contract can be used for saving and investments, enhancing and managing your wealth and improving the financial security of your loved ones.

In addition to increasing your wealth, Investment Insurance includes life insurance cover. Investment Insurance is suited to investors who value efficient inheritance planning as well as the profitability of investments.

Savings Contract is an insurance contract without life insurance. It is suited to active investors who value cost-efficiency and effortlessness. The Savings Contract allows you to invest even small amounts diversely.

Saving for yourself or your loved ones?

Investment insurance

Savings contract

Changing investment objects without tax consequences



Withdrawing the invested capital before the returns without tax consequences



Life insurance cover

Yes. The accrued savings are paid as life insurance compensation to the beneficiary even before the settlement of the estate.


In the event of death

Life insurance compensation paid to next of kin on the basis of a death is subject to inheritance tax.

A transition period up until 31st December 2017 is applied to the taxation of life insurance compensation. This means that life insurance compensation paid to next of kin due to a death that occurs in 2017 is tax-free income in inheritance taxation up to EUR 35 000, and the tax-free amount for the spouse is half, however at least EUR 35 000.

Life insurance compensation paid to a beneficiary other than next of kin is subject to capital gains tax.

You can freely appoint and change the beneficiary whenever you need.


The contract does not end; it continues under the ownership of the estate of the deceased/heir. In inheritance taxation, the calculated capital gains tax on the return is deducted from the contract’s surrender value, which means the inheritance tax applies to the assets invested in the contract and the net return they have accrued.

*) The taxation information corresponds to the tax legislation in effect on 1 January 2017. Mandatum Life is not responsible for possible future changes in taxation.

Learn more about our Savings Contract

Mandatum Life's Savings Contract is a capital redemption contract for proactive savings and investing for private individuals.

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