Term life insurance in Italy for British residents
Term life insurance pays a lump sum to the people you choose if you die during the policy term. If you live in Italy and pay Italian income tax, premiums for death cover qualify for a 19% tax credit within an annual limit, and an Italian policy keeps paperwork, beneficiaries and claims in the country where your family lives.
Consultation in English is included
Italian policies are written in Italian. We explain the cover, the exclusions and the paperwork to you in English, before you buy and when you claim, at no extra cost. Call +39 0141 441493 or email info@assicurazionecastellodiannone.it or see our offices and opening hours.
In short
- Valore Vita Reale Light by Reale Mutua: fixed 10-year term, for people aged 20 to 59 at the start, cover up to €300,000.
- You choose the annual premium (from €25) and the sum insured follows from your age: at 35-39, €100 a year buys €55,200 of cover.
- Italian taxpayers can claim 19% of premiums for death cover, on up to €530 of premiums a year (all policies together).
- Life premiums in Italy carry no insurance premium tax when the risk is located in Italy.
- Consultation in English is included, including help with naming beneficiaries.
Term life insurance
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Valore Vita Reale Light, underwritten by Reale Mutua. Consultation in English is included: we go through the Italian policy wording with you before you sign.
Why British residents look at an Italian policy
- A mortgage in Italy: a lump sum that lets your family keep the house.
- A partner or children who depend on your income, in a country where they may not yet have their own network.
- A UK policy that may no longer fit: some UK life policies have conditions about moving abroad, so check yours with the insurer before you rely on it.
How Valore Vita Reale Light works
It is a pure protection policy: if the insured person dies during the 10-year term, Reale Mutua pays the sum insured to the beneficiaries; if they are alive at the end, nothing is paid and the premiums are not returned. Death is covered whatever the cause, with the exclusions listed in the Conditions, such as suicide in the first 2 years.
There is a waiting period of 6 months from the start, which does not apply to death from accident and the other cases listed in the Conditions. You answer a health questionnaire when you apply.
Term life insurance
See how much cover your premium buys
Valore Vita Reale Light, underwritten by Reale Mutua. Consultation in English is included: we go through the Italian policy wording with you before you sign.
The 19% tax credit on premiums
Article 15(1)(f) of the Italian Income Tax Code (TUIR) gives a tax credit (detrazione) of 19% on premiums for policies covering death or permanent disability of at least 5%, on a maximum of €530 of premiums a year across all policies: up to €100.70 off your tax. The insured person must be you or a family member who is your tax dependant, and the premium must be paid by traceable means.
The Agenzia delle Entrate explains that the credit is reduced for total income above €120,000 and disappears at €240,000. For contracts signed from 1 January 2025, taxpayers with income above €75,000 are also subject to an overall cap on several deductions. It only helps if you pay Italian income tax: if your income is taxed elsewhere, ask your tax adviser.
Who can buy it
People aged 20 to 59 at the start. You will need an Italian tax code (codice fiscale) and an identity document. If you later move your residence to another EU country you must tell the insurer within 30 days, as the tax treatment can change. Online purchase is not available in every Italian region: the quote tool checks your residence at the first step.
Frequently asked questions
Can a UK citizen buy life insurance in Italy?
Yes. Nationality is not the issue: Valore Vita Reale Light is for people aged 20 to 59 at the start, with an Italian tax code, subject to the health questionnaire.
Are life insurance premiums tax deductible in Italy?
Premiums for death or permanent disability cover give a 19% tax credit on up to €530 of premiums a year, under art. 15(1)(f) TUIR, reduced for higher incomes. You need to pay Italian income tax to use it.
Does my UK life insurance still cover me if I move to Italy?
It depends on the policy. Some UK policies continue abroad, others have conditions about residence: check with your insurer in writing before you cancel or rely on it.
How much cover can I get?
Up to €300,000. You choose one of ten annual premiums and the sum insured depends on your age at the start.
Does the bank require life insurance with an Italian mortgage?
Some banks offer or ask for it. You are free to present a policy you have chosen yourself, as long as it meets the bank's minimum requirements.
Term life insurance
Ready to compare? Get your quote online
Valore Vita Reale Light, underwritten by Reale Mutua. Consultation in English is included: we go through the Italian policy wording with you before you sign.
Sources
Official sources checked on 24 October 2026. Rules change: always check the latest version before you act.
Important information
This guide is general information, not personal advice. Cover, limits, excesses and exclusions are set by the policy documents (DIP, additional DIP and Conditions of Insurance), which are in Italian and are what counts legally: we give them to you, and talk you through them in English, before you sign.
Assicurazione Castello di Annone di Rabacchin Matteo, VAT no. 01627330051, is an insurance intermediary registered in the Italian Single Register of Insurance Intermediaries (RUI), Section E no. E000517439, supervised by IVASS. Online quotes and purchase are not available in every Italian region: the quote tool tells you at the first step if the service is not available in your region.