Remake Live, an SCPI with no entry fees launched a few months ago, today becomes the first in this category to be referenced in life insurance. The other two SCPIs available on the market with 0% entry fees, Novaxia Neo and Iroko Zen, are in fact only accessible directly and not via a life insurance contract. It is the distributor Linxea which has just referenced Remake Live within its life insurance contracts and its PER insured by Suravenir, a subsidiary of Crédit Mutuel Arkéa.
” Investing in real estate in an accessible way and without entry fees is now possible within the envelope of life insurance or a PER. An interesting possibility to diversify your savings in a context of inflation. We are happy to be the first to offer this innovative support in our contracts insured by Suravenir », says Antoine Delon, President of Linxea.
Life insurance or direct subscription?
Investing in SCPIs via the life insurance envelope naturally allows you to benefit from the advantageous tax framework of life insurance, in terms of taxation of dividends and inheritance. However, the choice of SCPIs is limited compared to direct subscription because not all SCPIs are available in life insurance and not all insurers reference the same SCPIs in their contracts.
In life insurance, the investor generally benefits from a rebate on SCPI entry fees and from a shorter vesting period. In the case of Remake Live, the question of costs does not arise since they are nil and the period of enjoyment is only 1 month with Linxea’s Suravenir contract against 3 months for a direct subscription. In return, the insurer is generally remunerated by taking part of the dividends paid by the SCPI. Suravenir, for example, takes a 15% fee on the coupons paid by Remake Live. In other words, the saver will receive 85% of the return knowing that Remake Live aims for a distribution rate of 5.5% per year.
The saver does not own the life insurance securities
” When he invests in SCPI via a UC (unit of account in life insurance), the saver does not own the securities of the company or the fund, which can have negative or positive consequences for him. “, recalls Nicolas Kert, co-founder and president of Remake AM, the manager of the SCPI Remake Live.
Nicolas Kert also explains that at the time of the resale of the shares, life insurance will have the advantage ” in offering more mechanical liquidity than the primary market, where exit times can lengthen in periods of market stress “. Insurers can however apply penalties on the resale value of SCPI shares, which is not the case here with Remake Live housed in Suravenir contracts.
Options reserved for direct subscription
In addition, it should be noted that scheduled payments, scheduled arbitrage options and scheduled partial redemptions are not authorized on an SCPI account unit. Finally, in life insurance, it is of course not possible to buy SCPI shares on credit or to acquire only bare ownership, alternatives reserved for direct subscription.