With the private insurance business, Ersel offers its customers a customised service for planning their financial future and succession, through agreements with leading Italian and EC insurance institutes: top-of-the-range policies (Class I, Class III and Multi-class), which allow for opportunities to be grasped as they arise through legal provisions, to optimise all tax and equity aspects.

Thanks to the partnerships with leading insurance institutes, Ersel offers:

  • Class I Policies: Italian, revaluable, guaranteed capital policies.
  • Multi-class Policies: complete and integrated solutions that make it possible to invest the capital in a Class I component, with capital guarantee and stability of returns over time, and in a Class III component to invest, through a wide range of investment options, in the markets to seek return opportunities by adapting the allocation over time, changing its risk appetite and market conditions. They offer a partial guarantee of the capital and insurance coverage in case of death of the insured.
  • Class III policies: policies subject to freedom to provide services under foreign law that offer the possibility of combining diversification of investments with tax advantages. It is an extremely flexible structure that allows an effective financial planning as well as fiscal and inheritance. offer a high level of customization that also extends to the choice of underlying investment strategies. They are reserved for investors who intend to invest over the medium to long term, maximizing the benefits of financial investment with the benefits of a life insurance policy. Without capital guarantee with insurance coverage in case of death of the insured.

The Multi-class Policy

Ersel, in partnership with CNP Partners, a company in the leading European group in the life insurance sector, CNP Assurances S.A., offers two new and exclusive financial-insurance products to its private customers: CiiS Gold and CiiS Platinum.

CNP investment insurance Solution (CiiS) is a flexible and versatile multi-class policy that covers customers over time, offering them a different method of insurance by combining the security of traditional insurance products (Class I) with the return opportunities of Unit-Linked products (Class III). CiiS makes it possible to structure a personalised and flexible offer which is perfectly suited to the customer’s requirements over time, also thanks to a series of options that can be triggered in response to the evolution of the customer’s needs.

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Investment solutions

CiiS allows customers to invest, based on their objectives and risk profile which varies over time, in a mix of the following solutions (1):

  • Class 1 Investment Option
    The solution that guarantees full security for the customer’s investments. A prudent style that targets the retention of capital through a separate management of Italian law: CNP PARTNERS GUARANTEE.
  • Class III Investment Option Internal Insurance Funds
    The solution tailored to customers who wish to entrust dedicated professionals with the task of managing the portfolios established. The portfolio management service is assigned to Ersel SIM.
  • External Funds (UCI- Undertakings for Collective Investment)
    The solution allows customers to independently put together their own portfolio by choosing from the UCI Funds provided by the product, taking an advantage of an additional element of diversification.


The benefits

Insurance benefits

  • Exemption from inheritance tax: in the event of death, the capital paid to policy beneficiaries is exempt from inheritance tax.
  • Exclusion from the estate: the customer can indicate persons outside the estate as beneficiaries.
  • Right of the beneficiary: the sums insured are paid to the beneficiary in the event of death of the policyholder. (2).

Tax benefits

  • Deferment of capital gains tax: taxes on capital gains are only paid at the moment of partial or full settlement of the policy or payment for a claim.
  • Offsetting of capital gains/losses: losses and gains accrued by underlying assets are offset in the policy.
  • Deferment of payment of stamp duty: is only withdrawn at the time of partial or full redemption or for payment in the event of death. Sums invested in Class I are exempt from stamp duty.
  • Immediate reinvestment of gross dividends: dividends accrued on funds are reinvested in funds for distribution without being taxed.
  • Sums paid in the event of death to beneficiaries are subject to favourable taxation (3).

Why choose CiiS

All investment solutions the customer needs in just one subscription, with the advantages of a life policy.

Customers gain access to a financial-insurance solution that combines the features of a financial investment with the benefits of insurance policies.

Customers receive the investment solution most suited to their risk profile and saving style.

The investment may evolve over time based on changing customer needs; in fact, additional payments can be made, and it is possible to change your investment at any time through switching.

The insurance-financial solutions available allow diversification by risk, market, asset class and managers.

CiiS is the multi-class policy that offers a high level of financial diversification and a broad multi-manager choice.



(1) CNP investment insurance Solution does not offer any guarantee of reimbursement of the premium paid or minimum return on the financial investment, excluding Class I options for which the company guarantees the sums invested. The investment mainly presents financial risks attributable to possible fluctuations in the value of units of mutual investment funds or the shares of SICAVs subject to investment. The fluctuations depend, for example, on the trend in the markets and the nature of the underlying financial instruments. The investor may, both during the contract or at the time of disinvestment, receive a lower amount of capital than that originally invested; this possibility is even more likely the higher the level of risk of the pre-selected allocation.

(2) The beneficiary of the death benefit can be freely nominated, also outside of the estate, ensuring the right of privacy of the designated beneficiaries (based on art. 1920 of the Italian Civil Code).

(3) In the event of death of the policyholder, income taxes do not apply on the part relating to coverage of demographic risk (as set out in art. 34, last paragraph, of Italian Presidential Decree no. 601/73). In addition, the benefit is excluded from inheritance tax (based on art. 12, paragraph 1 letter c) of Legislative Decree no. 346/1990). The tax treatment may be subject to changes in the future.


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Before accepting, please read the Information Booklet and the Contractual Terms available at the offices of Ersel and the Company. The Information Booklet is also available on the site