Is this calculator free?

Yes — completely free, no account needed. Nothing you enter is saved.

Are life insurance payouts taxable in Italy?

Death benefit payouts (capitali per caso morte) from individual life insurance policies are exempt from IRPEF income tax and from inheritance tax (imposta di successione) in Italy. This makes life insurance an efficient wealth-transfer tool. The beneficiary receives the sum insured gross, without tax deduction.

Do pre-existing health conditions affect Italian life insurance premiums?

Yes. Italian life insurers assess your health via a questionnaire (dichiarazione di salute) and, for higher sums insured, a medical examination. Conditions such as hypertension, diabetes or obesity can result in a surcharge of 25–100% above the standard rate. Serious conditions may lead to policy refusal or exclusion of specific causes of death. This calculator assumes a standard health profile — compare quotes from multiple insurers if you have relevant conditions.

What is a polizza caso vita vs. polizza caso morte?

A polizza caso morte pays if you die during the policy term — this is classic term life, the most cost-effective protection product for families. A polizza caso vita pays if you survive to the end of the policy term — this is an endowment product combining savings and life cover, typically with lower returns than direct investment alternatives. For family protection purposes, a standalone caso morte is almost always the better choice.

Italy Life Insurance Calculator 2025 – Estimate Your Coverage

Life insurance in Italy

Italy has one of Europe's largest life insurance markets by premium volume, but it is dominated by bancassurance — life policies sold through banks, particularly credit life insurance bundled with mortgages. Standalone term life (polizza caso morte a termine) represents a relatively small share of the market, despite being the most cost-effective product for family financial protection.

INPS pensione ai superstiti — the survivor's pension

Italy's INPS (Istituto Nazionale della Previdenza Sociale) pays a pensione ai superstiti to the spouse and children of a deceased worker. The pension is calculated as a percentage of the deceased's accrued pension entitlement:

Spouse alone: 60% of the deceased's pension
Spouse + 1 child: 80%
Spouse + 2+ children: 100%

For a working-age Italian with a typical contribution history, this typically translates to €600–1,400/month — a fraction of working income, especially for higher earners and those with mortgages. The pension is taxable and subject to INPS/INAIL deductions.

Health class — how medical history affects your premium

Italian life insurers assess the policyholder's health profile via a dichiarazione di salute (health questionnaire) and, for higher sums insured, a medical examination. Based on the outcome, a risk class is assigned:

Standard: no significant pre-existing conditions — the premium is the catalogue rate.
Substandard / with surcharge: conditions such as controlled hypertension, managed type-2 diabetes, or obesity. The surcharge is typically 25–100% above the standard rate.
Declined or with exclusions: serious conditions (recent cancer, heart failure, etc.) may result in refusal or exclusion of specific causes of death.

This calculator uses a standard health profile. If you have pre-existing conditions, your actual premium may be significantly higher — compare quotes across multiple insurers, as underwriting policies vary considerably between Generali, Zurich, Allianz and others.

Bancassurance — buying term life independently

When a bank offers you life insurance alongside a mortgage, the premium is typically 30–50% higher than an equivalent standalone term life policy purchased independently from an insurer or broker. Italian law (Decreto Mutui, 2010) permits banks to require credit life cover as a condition of a mortgage, but prohibits banks from forcing borrowers to buy only from the bank's affiliated insurer. Always get a standalone quote to compare.

Key life insurance providers in Italy

Generali Vita is the market leader for individual life. Other major players: Zurich Life Italia, Allianz Vita, AXA MPS Vita, Poste Vita (Poste Italiane group), CNP Vita, Cattolica Vita. For standalone term life, online platforms (facile.it, segugio.it) allow direct comparison across multiple insurers.

Frequently asked questions

Is this calculator free?: Yes — completely free, no account needed. Nothing you enter is saved.
Do pre-existing health conditions affect Italian life insurance premiums?: Yes. Italian life insurers assess your health via a questionnaire (dichiarazione di salute) and, for higher sums insured, a medical examination. Conditions like hypertension, diabetes or obesity can result in a surcharge of 25–100% above the standard rate. Serious conditions may lead to policy refusal or exclusion of specific causes of death. This calculator assumes a standard health profile — if you have relevant conditions, compare quotes across multiple insurers as underwriting policies vary significantly.
Are life insurance payouts taxable in Italy?: Death benefit payouts (capitali per caso morte) from individual life insurance policies are exempt from IRPEF income tax and from inheritance tax (imposta di successione) in Italy. This makes life insurance an efficient wealth-transfer tool. The beneficiary receives the sum insured gross, without tax deduction.
What is a polizza caso vita vs. polizza caso morte?: A polizza caso morte pays if you die during the policy term — this is classic term life, the most cost-effective protection product for families. A polizza caso vita pays if you survive to the end of the policy term — this is an endowment product combining savings and life cover, typically with lower returns than direct investment alternatives. For family protection purposes, a standalone caso morte is almost always the better choice.