Insurance broker / Company pension schemes in Germany (bAV) / Policy wording archive
ALTE LEIPZIGER Direktversicherung: the policy wording in full
Zusatzbedingungen der Direktversicherung nach Paragraf 3 Nr. 63 EStG mit Kapitalwahl, Teilkapital bis 30 Prozent, Hinterbliebenenleistungen in fester Rangfolge und Verfügungsverbot; die Grundbedingungen der Rentenversicherung liegen nicht vor.
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Everything about this policy
What the policy covers: 62 points, each with its clause
Quotes are shortened. The full German wording of each point is on the German page for ALTE LEIPZIGER Direktversicherung.
Basics and funding vehicle
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Direct insurance (employer is policyholder, employee is the insured person) | yes | „Zusatzbedingungen für die Direktversicherung nach § 3 Nr. 63 Einkommensteuergesetz (EStG)“ | Titel, page 1 |
| Pension fund or occupational group insurance as funding vehicle | not addressed | ||
| Reinsurance policy backing a direct pension promise or support fund | not addressed | ||
| Funding by employee salary sacrifice possible | not addressed | ||
| Purely employer funded pension possible | not addressed | ||
| Tax favoured contributions under local law | yes | „Er ist gesetzlich in § 3 Nr. 63 Einkommensteuergesetz (EStG) geregelt und beträgt 8 % …“ | Anhang, Steuerlicher Höchstbetrag, page 5 |
| Employer top up on salary sacrifice (Germany 15 percent) regulated in the wording | not addressed | ||
| Group framework contract with own terms (simplified acceptance, special costs) | not addressed |
Retirement benefit and guarantees
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Guaranteed technical interest rate during accumulation | not addressed | ||
| Contribution guarantee at retirement (share of paid contributions) | not addressed | ||
| Defined contribution with minimum benefit or contribution oriented benefit promise expressly covered | not addressed | ||
| Guaranteed annuity factor or minimum pension at retirement | not addressed | ||
| Lifelong annuity as standard benefit | yes | „Zum Rentenbeginn können Sie statt einer lebenslangen Rente auch eine einmalige …“ | § 3 Absatz 1, page 2 |
| Option to take a lump sum instead of a pension | yes | „Sie müssen uns dies innerhalb der letzten sechs Monate vor Rentenbeginn mitteilen.“ | § 3 Absatz 1, page 1 |
| Partial lump sum alongside the pension | yes | „In diesem Fall zahlen wir einen Betrag in Höhe von maximal 30 % des zum Rentenbeginn …“ | § 3 Absatz 1, page 2 |
| Flexible retirement start (earlier or deferred) | yes | „Einen früheren Rentenbeginn können Sie nur wählen, wenn der Versicherte das 62 …“ | § 3 Absatz 2, page 2 |
| Guaranteed annuity period or return of remaining capital in payout | yes | „Wenn der Versicherte während der Rentengarantiezeit stirbt, zahlen wir die Rente an die …“ | § 3 Absatz 9, page 2 |
| Pension increases in payment (profit use, indexation) | not addressed | ||
| Fund investment with fund choice during accumulation | yes | „Nach Ablauf jedes Versicherungsjahrs legen wir die jährlichen Überschussanteile in …“ | § 3 Absatz 15, page 3 |
| Profit participation and share of valuation reserves | yes | „Wir ermitteln die Rente aus der Beteiligung an den Bewertungsreserven, mindestens …“ | § 3 Absatz 18, page 3 |
Survivors and additional cover
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Death benefit before retirement (return of contributions or fund value) | yes | „Diese Rente ermitteln wir aus dem Deckungskapital, mindestens aber aus der Summe der …“ | § 3 Absatz 8, page 2 |
| Survivor pension to spouse or registered partner | yes | „Leistungsberechtigte Hinterbliebene des Versicherten sind der Ehepartner, der …“ | Anhang, page 5 |
| Orphan pension to dependent children | yes | „Leistungsberechtigte Kinder sind die Kinder des Versicherten im Sinne des § 32 Absatz 3“ | Anhang, page 5 |
| Beneficiaries limited to survivors allowed under tax rules | yes | „Nur die ranghöchste Person erhält Leistungen, wenn der Versicherte stirbt.“ | Anhang, Rangfolge, page 5 |
| Funeral grant to other persons (amount) | yes, up to EUR 8,000 | „Das Sterbegeld richtet sich nach den gewöhnlichen Beerdigungskosten, die derzeit 8.000 …“ | Anhang, Sterbegeld, page 5 |
| Disability cover as rider in the same contract | not addressed | ||
| Premium waiver if the employee becomes disabled | not addressed | ||
| Long term care option or higher pension in case of care need | not addressed |
Vesting and change of employer
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Immediate vesting of rights from salary sacrifice | not addressed | ||
| Vesting period for employer funded parts | not addressed | ||
| Irrevocable beneficiary right of the employee from the start | not addressed | ||
| Insurance contract solution on leaving (policy passes to the employee) | not addressed | ||
| Transfer to a new employer or provider | not addressed | ||
| Private continuation with own contributions after leaving | yes | „wenn der Arbeitnehmer den Vertrag nach seinem Ausscheiden aus dem …“ | § 2 Absatz 2, page 1 |
| Contribution pause during parental leave, sick pay or short time work | yes | „Sie können die Beiträge ganz oder teilweise stoppen.“ | § 3 Absatz 6, page 2 |
| Reinstatement after paid up status without new health check | not addressed | ||
| Insolvency protection of the entitlement | not addressed |
Costs, cancellation and disposal
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Zillmerised tariff (acquisition costs offset against first contributions) | not addressed | ||
| Acquisition costs spread over at least five years or the whole term | not addressed | ||
| Deduction on cancellation or paid up status | not addressed | ||
| Deduction on transfer to another provider | not addressed | ||
| Disposal restriction: assignment, loans and surrender by the employee excluded | yes | „Abtretungen, Beleihungen und Verpfändungen (kurz Übertragungen) von Rechten und …“ | § 2 Absatz 1, page 1 |
| Free fund switch | not addressed |
Underwriting and employer duties
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Simplified health check for riders in group business | not addressed | ||
| Minimum number of insured employees in the group | not addressed | ||
| Shareholder managing directors or family employees insurable | not addressed | ||
| Minimum contribution per insured person | yes, up to EUR 300 | „Wenn Sie die Beiträge nur teilweise stoppen wollen, muss der neue Beitrag mindestens …“ | § 3 Absatz 6, page 2 |
| Maximum contribution per insured person | yes | „Die jährlichen Beiträge dürfen zusammen mit der Zuzahlung in jedem einzelnen …“ | § 3 Absatz 3, page 2 |
| Employer notification duties (leaving, salary change, parental leave) | not addressed | ||
| Consequences of late contributions (reminder, deadline, employee information) | not addressed | ||
| Annual statement to the employee | not addressed | ||
| Pledge of the reinsurance policy to the beneficiary provided | not addressed |
Austria and Spain specifics
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Austria: occupational group insurance under section 93 VAG 2016 and Company Pensions Act | not addressed | ||
| Austria: pension fund contract with investment and risk group | not addressed | ||
| Austria: minimum return guarantee | not addressed | ||
| Spain: company pension insurance plan (PPSE) | not addressed | ||
| Spain: simplified occupational pension plan (PPES), also for self employed | not addressed | ||
| Spain: group insurance expressly funding pension commitments | not addressed | ||
| Spain: covered contingencies (retirement, disability, death, dependency) | not addressed | ||
| Spain: early access (ten year old contributions, serious illness, long term unemployment) | not addressed | ||
| Spain: control committee with employee representation | not addressed | ||
| Spain: tax imputation of employer contributions to employees | not addressed |
Evaluated by NAMMERT from published policy wordings.
Despite care, a value may be misread;
legally only the wording of your own contract in the edition stated there applies.
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Policy wordings and provider
- Legal entity
- Alte Leipziger Lebensversicherung auf Gegenseitigkeit, ALTE LEIPZIGER Pensionskasse AG, ALTE LEIPZIGER Pensionsfonds AG
- Distribution
- brokers and direct
- Zusatzbedingungen für die Direktversicherung nach Paragraf 3 Nr. 63 EStG (pm 2621) Edition: pm 2621 06.2026 Original from the insurer (PDF, German)
Full text of the wording
The full text exists only in German. It is printed on the German page for ALTE LEIPZIGER Direktversicherung and available as plain text.
Volltext ALTE LEIPZIGER Direktversicherung · As text (Markdown) ALTE LEIPZIGER Direktversicherung