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For life insurance, the amount of the tax varies according to the date of subscription of the contract, the date of payment of the premiums (before or after 70 years), the number of beneficiaries, the amount of capital transferred. For dismemberment (donation of bare ownership with usufruct reserve), the amount of transfer taxes varies according to the family relationship between usufructuary and bare owner, donations made less than or more than 15 years ago, the life expectancy of the usufructuary. For assets of a certain size, the cost of the donation is lower than the life insurance tax. The best is to combine donation and life insurance. Example. Parents 66 years and 60 years, 2 children. Transfer €1,200K. Costs: Life insurance: €440K Donation of bare ownership: €44 (or €100K if discounted)