Saving for a home of your own

KBC Life Home Plan

Saving for a home of your own

KBC Life Home Plan

From 29 May 2017, you can no longer sign up for KBC Life Home Plan. As a new client you can choose between KBC Home & Pension Plan and KBC Home & Long-Term Plan.

If you already have a KBC Life Home Plan, nothing will change. The contractual terms won’t change.

What is the KBC Life Home Plan?

The KBC Life Home Plan is a universal (class 21) life savings plan allowing you to securely save up a capital reserve. Each month, you pay in the amount that you decide, enabling you to build up a tidy capital sum for later and benefit from tax relief in the meantime.

During the term, you can also use the capital to finance your KBC credit-linked death cover when you take out your future home loan with KBC.The premiums for this cover are paid out of the accumulated reserve. That way, saving now already relieves you of some of the financial burden of buying or building a home later. To add this credit-related death cover, you must pass a medical examination. Premiums are due for the additional cover.

Get tax benefits

The premiums for this savings insurance plan qualify for tax relief under the pension savings or long-term savings tax scheme. You can get back up to 30% of the amounts saved in the form of tax relief, depending on your personal situation. The payout under this tax-advantageous savings insurance plan attracts a one-off tax charge in the form of a favourable final tax levy.

If you don't yet have a home of your own, that's no problem. You can benefit and get tax relief on the amounts you save now for when you do want to buy your first home.

The KBC Life Home Plan is a safe choice. At present, we guarantee 0.75% interest on saved amounts up until payout under the contract. In addition, KBC Insurance may award annual profit shares if results allow. 

Naming a beneficiary

Once credit-related death cover is incorporated, the financial institution that you've contracted your bear home loan with will be the primary beneficiary. Under tax-advantaged schemes, you have to in mind the conditions to qualify for tax relief when naming your beneficiary. You name the beneficiary who will receive the accrued capital in the event of your death and, where applicable, the additional death benefit.

Accessing your money

You save in a Life Home Plan for as long as you want, though the contract must run for at least ten years and cannot be terminated before your 65th birthday. You should therefore put into it money that you can do without for a longer period. If you have property plans, you can then use your savings to finance your credit-related death cover, which lets you claim tax relief while saving to later put down your first roots.

Rates and charges

Management fee none
Entry charges on new deposits 5% on each deposit
Exit charges upon early withdrawal maximum 5%

Insurance tax on new deposits

2% under the long-term savings tax scheme
0% under the pension savings tax scheme

During the last five years of the contract, the percentage of exit charges reduces by 1%. You pay no exit charges if you use the accumulated capital to finance your credit-related death cover or on legal retirement, early retirement or bridging retirement.

The minimum savings amount per year is 288 euros (including taxes and charges).
The minimum savings amount per month is 24 euros (including taxes and charges).
The maximum savings amount per year is dependent on the tax rules.

More things you need to know

  • The KBC Life Home Plan is subject to Belgian law.
  • Future tax treatment can change and depends on your individual circumstances. Your intermediary will be glad to give you bespoke advice in this respect.
  • Once you benefit from tax relief on a saved amount, subsequent pay-out of the accumulated savings pot attracts a tax charge.
  • The accumulated savings are liable to tax on long-term savings, which is charged on your 60th birthday or ten years after the start of the contract if it is signed on or after your 55th birthday. The tax is a final levy. If the contract still has a credit-linked form of cover at the time long-term savings tax is levied or if you die before you turn 60, personal income tax applies at the time of the payout.
  • Term: minimum ten years, final maturity no earlier than age 65. The savings insurance ends on the death of the insured person.
  • KBC Insurance guarantees the interest rate on every net deposit until the contract end date. The interest rate for all net deposits is 0.75%. This rate is guaranteed until the contract is paid out.
  • The guaranteed rate may change for future payments. KBC Insurance determines the interest rate applicable to your deposits during the term of the contract, based on the situation on the financial markets and/or changes to the legal requirements. If this interest rate changes, KBC Insurance will notify you of that fact.
  • Your intermediary is your first point of contact in the case of questions and complaints you may have.  You may also e-mail complaints to or telephone tel. 0800 62 084 (free phone) or send them to the Insurance Ombudsman, de Meeûssquare 35, 1000 Brussels, e-mail:
    However, you always retain the right to initiate legal proceedings.
  • Contact your KBC insurance intermediary to request a quotation for KBC Life Home Plan.
  • The KBC Life Home Plan is a product of KBC Insurance NV – Professor Roger Van Overstraetenplein 2 – 3000 Leuven – Belgium – VAT No. BE 0403.552.563 – RLP Leuven – IBAN BE43 7300 0420 0601 – BIC KREDBEBB – insurance company belonging to the KBC Group and licensed by the National Bank of Belgium, de Berlaimontlaan 14, 1000 Brussels, Belgium, for all classes of insurance under code 0014 (Royal Decree of 4 July 1979, Belgian Official Gazette of 14 July 1979).
  • There is a special solidarity scheme for loan-balance insurance that serves as cover for a mortgage loan on the one and only own home. If an increased health risk means that an additional medical premium is charged on the loan balance insurance and that surcharge exceeds a set minimum threshold, the compensation mechanism ensures that the surplus does not need to be paid by the policyholder but will be borne by the Compensation Fund. The policyholder needn't ask expressly for the fund to intervene. Instead, if the insurance company levies a medical premium surcharge that exceeds the threshold, it recovers the surplus from the fund. You can get additional information on this subject from any KBC Bank branch or KBC Insurance agent.

Detailed information on this product can be found in the product fact sheet and the financial fact sheet, which we recommend you read carefully before taking out this product

Was this page useful to you? Yes No

Saving for children

Saving for children

Give your child or grandchild a financial boost.
Get a savings account for free

Get a savings account for free

A free savings from KBC lets you save for a rainy day at your own tempo.
How are my pension savings taxed?

How are my pension savings taxed?

When you turn 60 or ten years after starting to save for your pension, you pay a one-off favourable-rate final tax.
KBC Life Future 8

KBC Life Future 8

Combine both security and return with this guaranteed-interest (class 21) savings insurance plan.