This is Allianz’s normal assurance vie product. Basically, it has all the same advantages regarding French inheritance law, death duties and income tax as any normal Assurance Vie. However, it is a Clean Share contract, so you gain more on shares as the fees are less and more transparent.

  1. Who can invest in it: Anybody who is a French resident (and Monaco) and under 85 years old.
  2. How much can you invest in it: The minimum is 30 000, no maximum.
  3. How is it invested: As you wish, all secured and all in shares, bonds or a bit of both at whatever percentage you prefer. 
  4. Options available:
  1. Securisation des performances: This is a very good option that means that when your shares/funds go up by 5% (you can choose between 5 and 15%), the 5% gain is automatically transferred to the secure part of your Assurance vie. The gain has to be at least 100 (5% gain on a share might represent less if your share is only worth 500!!). This is very good and some of my customers have appreciated this option when the market has crashed back in March 2020 (Covid). Indeed, the gain they made the previous year had been transferred to the secure part of the Assurance vie so the loss was less.

This option is free, so no fees.

  1. Dynamisation progressive du capital: Some of you might be not too keen to invest all your eggs at once in case you are investing it all just before a crash (so at its highest) so Allianz has come up with an option in which your capital is invested over a period of your choice :6, 12 or 24 Months. So that you are investing at different stages of the stock market value. This option is also available when you make another deposit, not just when you open the investment.
  2. Arbitrage: This is the French word for switching from one fund to another. With Allianz you are entitled to one free per year but can do as many as you want. So, if you are not happy with a fund, you can switch at any time you want.
  3. Gestion profile: If you are not willing to trust me or yourself to choose your funds, you can let Allianz manage it for you. You can choose between 7 types of investment between very low risk to high risk. 2 of those investments are fully ISR (investment socially responsible). Allianz readjust the investments 4 times per year following their own expert advisers, so you have nothing to do.
  4. Securisation du capital: You can choose to make sure that your beneficiaries will get at least the amount you have invested to start with so 100% or 120% of what you have invested. So, if the market crashes, you are sure that your heir will get at least what you wanted them to have or more! You invested 100K but lost 10K, you die, then your beneficiaries still get 100K and not 90K.
  5. Fidelity option: Allianz gives you the option to earn extra money (10% more on average) on the “fond euro” which is the secured part of the Investment. In return you have to restrain from making any withdrawals for 6 years. 


  1. Fees: 
  1. Entry fees: The entry fee is normally 4.5% of the amount invested but I am very nice, so I negotiate. There is also a 12 administration fee (whatever the amount invested).
  2. Management fees: The management fees can be changed once a year and depend on the TME of France which is the average rate of borrowing of the French state:

Amount of capital in Fond Euro

TME below 1%

TME between 1 & 1,5%

TME above 1,5%

Below 150k




Between 150 & 300K




Above 300K





In 2023, the TME was above 1,5% so the management fees for 2024 is 1,175% if you have less than 150K of capital invested.

Note that the management fees on the Euro Funds if you have chosen the Fidelity option are 1,403% no matter the amount.

The management fees on shares does not depends on the TME so it is the same every year:

Amount of capital invested in shares

Management fees

Below 150K


Between 150 & 300K


Above 300K


This contract is a “clean share” assurance vie contract which means that there are no commissions given on distributors of shares (sort of management fees for units). Those commissions are hidden in other assurance vie contracts (was also on Ex-Allianz contracts as well). So, you might think these are steep fees, but they were higher before (around 0.5% more)!! You just did not see it as they were taken on Funds units! 

To sum up, if you have 140 000 euro invested, 50% on shares and 50% secured (no fidelity option), then the management fee per year (based on TME above 1,5%) will be 997,5 + 822,5= 1850€

  1. Option fees: 

-0.25% per year for the Gestion profile option (0.25% of the amount invested on gestion profilé)

-0% fee for switching from Fond euro to shares or shares to another shares. 1.50% of the amount for switching from shares/funds to Fond euro (maximum 5000€). 

-Between 0.071% (age 41) and 3.406% (age 85) quarterly maximum for the option of the capital guaranteed in case of death. The percentage is taken on the amount of the loss and depends on the age of the subscriber. This fee is only taken if the capital is at loss.

-Disability option: 0.018% quarterly of the value of your investment.

  1. Adding money to it: You can add money to it at any time but a minimum of 450.
  2. Regular withdrawal: You can set up Monthly, quarterly, twice a year or once a year automatic withdrawal which goes directly to your bank account. This is free. 
  3. Regular deposit: You can choose to do regular deposits (Monthly, quarterly, twice a year or once a year) so the amount you choose to add to your assurance vie is taken automatically from your bank account.
  4. Availability: The present amount on your assurance vie is always available and you can even make the withdrawal yourself from your Allianz customer account. So, the money is never blocked. There are no penalties for taking your money out, but tax may apply if you have made a capital gain. Note that if you took out the fidelity option, then no gain on the secure part of your investment if you take it out before the 6th year.
  5. How much it makes: Well, that is what we all want to know right! Gross return for 2023 for the secured part with the fidelity option was 4,44%. For the Euro funds without the fidelity option, it was 4%. Shares go up or down! 2023 was a good year and all our funds gained apart from shares on China!! And when you look at the return over 5 years, all (apart from China) are positive. But performances of the past are no guarantee for the future!! I can send you the listing with past performances.

Conclusion: The advantages of the Assurance vie savings account are well known and it is no secret that it is the preferred investment for French people not only because of its advantages but also for its flexibility. But even if Assurance vie investments offer the same envelop with every company (same advantages in regard to French inheritance law and tax and income tax), it is important to notice the little differences and therefore shop around before making a decision. They can be different from one company to another and not just the entry or management fees!

Also, Allianz has a solvability ratio that is one of the best on the market at 174% for Allianz France and 200% for Allianz Group so do not hesitate to contact me for any further information regarding our very large range of investments. 


And remember to check out our web site for all my previous articles (“practical information”) and register to receive our monthly Newsletter.  

And don’t hesitate to contact me for any other information or quote on subject such as Funeral cover, inheritance law, investments, car, house, professional and top up health insurance, etc…

Contact us !

In order to discuss and meet your need as best as possible, feel free to contact us with a mail, phone call... We can also schedule a meeting in one of our four agencies... Or directly to your home !