When the insurance policy matures, any losses incurred are tax-deductible for you, taking into account any partial surrenders made during the investment period. If the funds paid out of the insurance policy, from which the gains have been subtracted, amount to less than the funds invested in the policy, the loss thereby incurred is tax-deductible on your capital income in the year in which the policy matured, if the policy did not end in your death or mature in favour of any beneficiary other than yourself. Payouts from death cover are included in the sum of funds paid out of the insurance policy. Losses on partial withdrawals are not tax-deductible. The EUR 1,000 tax-free allowance per year for sales of securities does not apply to endowment insurance.