The contract’s total savings consist of the capital paid into the contract and any accumulated returns. Capital is the amount of premiums paid into the contract, less any partial withdrawals made during the contract period. The contract’s returns can be calculated by subtracting the amount of capital from the withdrawal value.

When a private customer makes a withdrawal, 30% capital gains tax is withheld from the share of the returns. The tax rate rises to 34% for the share of capital gains that exceeds EUR 30,000 (in 2024). The insurance company withholds 30% in withholding tax. The tax administration adjusts the amount of tax in connection with the final taxation.

When a company makes a withdrawal, the share of the returns is subject to business income taxation.


You can withdraw assets from your contract’s total savings or if your contract includes more than one investment, you can select one or more investments from which to make the withdrawal.

When selecting the withdrawal from the total savings, the sum of your choice will be withdrawn equally from all of the contract’s investments. If you wish to select from which investment object the withdrawal will be made, select “from the investments I have selected”. After this, you can add what proportion of the selected investments you wish to withdraw. 

Please note that if your contract includes a fixed-term investment, for instance a structural investment or bonds, a withdrawal cannot be made using this form partway through the investment period. In this case, it is also not possible to make a withdrawal from the total savings. You can withdraw a sum of your choice from any other investments or contact our customer service. 

You can withdraw all of the contract’s savings and at the same time terminate the contract by making the withdrawal amount a sum corresponding to your total savings or by withdrawing 100% from all of your investments. Following this, you must confirm that we should pay you all of your savings and that your contract will end by ticking the box next to “I accept that my contract will end”.

Maintaining the validity of the contract requires that at least 100 euros in savings remain after the withdrawal. If the contract’s savings are less than this, we will pay you the total savings and end the contract.

If you live abroad and you are regarded as a non-resident taxpayer, request a tax-at-source card for the return on the taxable amount of the withdrawal from the Tax Authority. You can print the application for the tax-at-source card on the website and send it by mail to the address on the form. Withdrawal requests can proceed after the tax card has arrived at Mandatum Life. You can ask the Tax Administration to send the tax card directly to Mandatum Life by entering Mandatum Life as the recipient in the field of delivery address of the application for the tax-at-source card:

Mandatum Life Insurance Company Limited
Kalevantie 3
20520 Turku