Financial investment enabling the policyholder to save money with a view to passing it on to a beneficiary when an event directly involving the insured person occurs: either s/he dies or s/he survives. This savings product enables the policyholder to earn interest on his/her policy depending on the capital invested.
If the policyholder survives, s/he remains the beneficiary and holder of the funds and is free to recover the capital and interests.
If the policyholder dies, the policy is wound up and the capital and interest transferred to the beneficiary(ies) of his/her choice (children, spouse, live-in partner, siblings, other non-family members, legal persons such as associations, etc.).