Český finanční a účetní časopis 2025(3)
Is Tax Support for Life Insurance in the Czech Republic Still Justified
The life insurance market in the Czech Republic has undergone dynamic changes in recent years. Written premiums in life insurance have been declining, accompanied by a decreasing share of reserve-forming life insurance. For the purpose of long-term savings and wealth accumulation, other types of financial products are increasingly being used. At the same time, the market for life insurance is shifting toward risk life insurance, partly due to differences in the regulatory framework governing reserve-forming and risk insurance. Nevertheless, tax support for reserve-forming insurance remains in place, despite the fact that it is being used less frequently as a tool for pension savings. This paper seeks to answer the question of whether the tax support of life insurance continues to be justified, or whether the system of tax incentives for life insurance products should be reconsidered.
Keywords: Life Insurance, Reserve-forming Life Insurance, Risk Life Insurance, Regulation and Supervision
Received: September 19, 2025; Revised: September 19, 2025; Accepted: October 1, 2025; Published: December 28, 2025 Show citation
This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.