ING Life Star Plan

A pension savings insurance developped by NN Insurance Belgium NV

ING Life Star Plan is a Branch 21 insurance for pension savings under Belgian law. You build up a pension capital, at a guaranteed interest rate. You choose how much you save up to the tax ceiling and you can optimize your tax relief.

  • Tax relief

    You will be saving within the fiscal pension savings system. 

    That means that you can enter the premiums from the past year in your income tax return and obtain tax relief of up to 30% (+ municipal tax). 

  • Secure savings

    The capital is guaranteed and an individual fixed interest rate is assigned to each payment which will apply until the end date.

  • At your own pace

    You yourself choose how much to save up to the fiscal ceiling and how you will distribute the payments over a year. In making your decision, think about your personal situation so that you can optimize your tax return as far as possible.

  • Term

    The policy has a minimum term of ten years and the end date is your 65th birthday or later.

  • Risks

    If the insurance company is no longer able to meet its obligations towards policyholders or is declared bankrupt, the financial services guarantee fund intervenes. This also applies to branch 21 saving-based insurance policies. The limit is a maximum of 100,000 euros per policyholder per insurance company. 

    The policyholder bears the risk of any amount above this maximum.

A Belgian resident between 18 and 64 years of age who is subject to personal tax in Belgium can subscribe to an ING Life Star Plan pension-related savings-based insurance policy.

The aim of a pension savings insurance policy is to build pension capital safely within the fiscal pension savings system.

The contract has a minimum term of ten years from the date it becomes effective and runs at least until the policyholder’s 65th birthday. 

 The end date is set in the insurance contract. 

The contract will automatically end prematurely if it is surrendered in full or in the event of death.

The yield consists of a guaranteed interest rate plus a potential profit share.

  • A guaranteed interest rate

An individual fixed interest rate is assigned to every payment, after deduction of 3% in subscription fees. This rate applies until the end date of the contract.

At present, it is 0.65%. This may vary for future premiums. 

The financial information sheet gives the latest interest rate. 

Policyholders with an ING Life Star Plan receive an overview every year from NN Insurance Belgium nv showing the payments and the interest rates assigned.

  • A potential profit share 

The profit share varies from year to year, and it may be that no profit share will be allocated.

The profit share relates to the past year and depends on the development of the economy and the results of NN Insurance Belgium nv.

  • In the first year, there are no conditions for the potential profit share. 
  • After that, a potential profit share is only allocated to contracts to which at least 300 euros has been paid in the past year and which have a reserve of at least 5,000 euros at the end of that year. 

The greatest risk for this product is for the insurance company to go bankrupt. However: 

  • Life insurance contracts are special assets which are managed separately within the insurer’s assets. If the insurer goes bankrupt, those funds are reserved as a priority to meet commitments to the policyholders and/or beneficiaries. 
  • The product is also protected by the financial services guarantee fund (Royal Decree of 14/11/2008). The protection is limited to the surrender value of the contracts and also to an amount of 100,000.00 euros for all protected contracts concluded by the same policyholder with NN Insurance Belgium nv.
  • Subscription fees: 3% of every paid premium.
  • Surrender fee: 5%, decreasing daily over the last five years of the contract.
  • The premium is a minimum of 25 euros per month or 300 euros per year.
  • The maximum amount depends on your own choice for tax optimization. 

Since 2018, there have been two tax ceilings with different levels of tax deductibility:

  • The basic ceiling is 980 euros (income year 2019, tax year 2020). Payments up to this ceiling lead to tax relief of 30% (+ municipal tax).
  • The increased ceiling is 1,260 euros (income year 2019, tax year 2020). Payments up to this ceiling lead to tax relief of 25% (+ municipal tax).

You should also read the section “What tax rules apply?”

ING Life Star Plan confers the right to potential tax relief on pension savings according to the conditions of the 1992 Income Tax Code and subsequent supplements.

The tax treatment depends on the individual situation of every customer, including the need to have sufficient taxable income in order to receive tax relief.

The following general rules apply on the basis of the current tax legislation:

1. With regard to the payments:

The payments are exempt from premium tax 

The policyholder may enjoy tax relief on the premiums paid in the context of pension savings. The tax relief is calculated at a tax rate of 30% or 25% respectively (to which the municipal tax must be added).

  • 30% for a payment up to the basic ceiling of 980 euros (income year 2019, tax year 2020). The maximum tax relief in that case amounts to 294 euros (+ municipal taxes).
  • 25% for a payment up to the increased ceiling of 1,260 euros (income year 2019, tax year 2020). The maximum tax relief in that case amounts to 315 euros (+ municipal taxes.

Conditions for the increased tax ceiling of 1,260 euros in 2019:

  • If you wish to contribute more than 980 euros/year, then you have to inform ING of your explicit choice.
  • The choice is irrevocable and valid exclusively for the tax period specified. As a result, you will have to make the choice again each year.
  • If a sum higher than 980 euros is paid in a year when no prior choice has been explicitly made, the amounts paid above 980 euros will be returned free of charge.

This potential tax relief applies to payments up to 31 December of the year in which you reach the age of 64. 

NN Insurance Belgium nv provides an annual tax certificate stating the premiums paid. 

2. With regard to outpayments from the policy:

On the policyholder’s 60th birthday or, in case the policy has been signed as from the age of 55 year, on the 10th anniversary of the policy, an anticipative levy of 8% is deducted in principle from the savings reserve (excluding the profit share). 

This levy is by way of a discharge: the capital is exempt from tax at maturity.

Payments made after the anticipatory levy is applied will still be eligible for tax relief and will not be taxed when the policy matures.

  • If the policy is surrendered before the anticipatory levy takes place, it is taxed as personal tax. The tax is then 33% percent plus the additional municipal tax. In the case of a bridging pension, this tax may be 8% if specific conditions are satisfied.
  • In the event of death before the anticipatory levy takes place, the policy is taxed as personal tax. The tax is then 8% percent plus the additional municipal tax.

In the event of death, inheritance tax can be due.

A detailed overview of the fiscal rules is given in the financial infosheet on life insurances: ING Life Star Plan (pdf).

The tax treatment depends on the individual situation of each customer and may change later.

This can be done via ING Home’Bank or through the branches.

NN Insurance Belgium nv provides policyholders every year with an annual overview which also shows the value of the contract on 31 December of the past year.

Policyholders also receive an annual certificate (281.60) showing the payments they have made in the past year. This certificate must be kept for submission to the tax authorities if requested.

You can easily combine your pension-related savings-based insurance policy with additional death cover. In that case, you select the minimum amount that your chosen beneficiary will receive if you die before the contract ends.

Segmentation policy for additional death insurance

There are multiple criteria that play a role in determining whether we are prepared to insure a particular risk, what we are prepared to insure it against, and what the premium will be. These criteria serve as Acceptance Criteria (AC), Pricing Criteria (PC) and Extended Guarantee Criteria (GC). Based on these segmentation criteria, we try to find a balance between the premium you pay and the loss or damage we anticipate. The segmentation criteria are objective criteria that can influence the probability or extent of loss or damage.

Acceptance Criteria (AC) Pricing Criteria (PC) Extended Guarantee Criteria (GC)
Insured capital
Duration of the contract
Financial acceptance
Health condition
Smoking behavior
Profession and sport(s)
Travel risk factor

Please find below an explanation of the applicable segmentation criteria.

  • The insured capital (AC, PC): The insured capital has an impact on the amount of the premium, as it is directly linked to the risk to be insured.
  • The duration of the contract (AC, PC): The duration of the contract may have an impact on the amount insured, and may therefore influence the amount of the premium.
  • Financial acceptance (AC): If the total capital amount insured by NN Insurance Belgium SA/NV exceeds €1 million, we will assess your financial situation.
  • Your health condition (AC, PC, GC): We will make enquiries into your health status through a questionnaire or by performing a medical examination. If, at the time you take out the contract, you are aware of any health problems which affect your risk of premature death, we will take these into account.
  • If after carrying out the questionnaire or medical exam we are still unable to establish a sufficiently clear picture of your health, we may ask you to answer additional questions, or to provide us with further information.
  • Your Age (AC, PC): Your age is an important factor when you take out life insurance, because, statistically, the probability of death increases with age.
  • Your smoking behaviour (PC): Smoking seriously damages your health and increases the risk of mortality. Therefore, we need to know if you smoke.
  • Profession and sport(s) (AC, PC, GC): Your profession and any sport(s) you participate in can be considered to be more or less dangerous and consequently, have an influence on your risk of being killed and your life expectancy.
  • The fact that you take vacations for long periods abroad (AC, PC, GC): Depending on the duration and destination, a vacation in a foreign country can have an influence on the condition of your health, your risk of being killed and your life expectancy.

NN Insurance Belgium (formerly ING Life Belgium) is an insurance company within the NN Group, with a long history in Belgium. The NN Group is an insurance and investment management company that is listed on the stock exchange and has a strong European focus. Present in 18 countries, and with a total of around 12,000 employees, the group provides services relating to pensions, insurance, investments and also banking services (only in the Netherlands) to over 15 million customers.

  • For complaints contact us online:, call us: +32 2 464 60 04 or send us a letter: ING Complaint Management, Cours Saint-Michel/Sint-Michielswarande 60, 1040 Brussels.
  • Already been in touch with ING? Contact the Financial Disputes Ombudsman, rue Belliard 15-17, 1040 Brussels ( or the Insurance Ombudsman, Square de Meeûsplein 35, 1000 Brussels ( (FR)).

ING Life Star Plan is sold and offered to you (subject to acceptance by the insurer and mutual agreement) by:

  • Insurer:

NN Insurance Belgium SA/NV, mortgage lender licensed by the FSMA and insurance company licensed by the NBB under the number 2550 for the Branches 1a, 2, 21, 22, 23, 26, 27. Registered office : Avenue Fonsny 38, B-1060 Brussels - RLP Brussels - VAT BE 0890.270.057 - BIC: BBRUBEBB - IBAN: BE28 3100 7627 4220

  • Insurance intermediary:

ING Belgium SA/nv, insurance broker, registered with the FSMA under no. 12381 A. Head office: Avenue Marnix/Marnixlaan 24, B-1000 Brussels – Brussels Register of Companies – VAT: BE 0403.200.393 – – BIC: BBRUBEBB – IBAN: BE45 3109 1560 2789.

ING Belgium SA/nv (article 107 Section 3 of the Special Regulations for Trading Financial Instruments and Insurance-linked Savings and Investment of ING, abbreviated to RSOI) and NN Insurance Belgium SA/nv do not provide any insurance distribution services for Insurance-linked Savings and Investment to US Persons.

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