Structured products are experiencing rapid growth among individual savers. CORUM L’Épargne is entering this market with two products accessible within its CORUM Life life insurance contract: CORUM Pallas and CORUM Vesta. Subscriptions open on October 1, 2026, within a limited fundraising window.
These two products are based on different mechanisms. CORUM Pallas targets a return of 5.6% per year with full capital protection at maturity, excluding issuer default, while CORUM Vesta targets a return of 9% per year with capital protection up to a 60% drop in its reference value at maturity.
So, what are these two structured products really worth? We review their functioning, level of protection, potential return, fees and risks to help you understand what you are subscribing to.
Review of CORUM Pallas and Vesta Structured Products: Key Takeaways
CORUM Pallas and CORUM Vesta are the first two structured products offered by CORUM L’Épargne within its CORUM Life life insurance contract.
- Pallas targets a return of 5.6% per year and provides full capital protection at maturity, excluding issuer default.
- Vesta targets 9% per year, with capital protection up to a drop of 60% of its reference value at maturity.
Both products therefore present different levels of protection and different return objectives. In both cases, it is essential to understand the repayment conditions, the potential investment horizon and the risks before investing.
Structured products: a booming market
Structured products are no longer a confidential asset class. Their marketing to individuals has grown significantly in recent years, notably through life insurance. In 2025, French savers invested more than 60 billion euros in these products, a record high.
Gross inflows have thus multiplied by 2.6 in four years, rising from 23.2 billion euros in 2021 to 41.8 billion in 2023, before exceeding 60 billion euros in 2025. The outstanding amount of structured products now stands at 57 billion euros, compared with the 507 billion euros of unit-linked units distributed in France.
Over the 2021-2023 period, the median yield observed by AMF and ACPR was 6.5% gross. At the same time, life insurance continued to grow: its total assets reached 2,107 billion euros at the end of 2025, up 6.1% year on year.
Structured products thus constitute the third engine of life insurance in unit-linked contracts. Despite this growth, they remain largely unknown to savers. It is within this developing market that CORUM L’Épargne launches its first two structured products, CORUM Pallas and CORUM Vesta, within its CORUM Life life insurance contract.
What is a structured product?
A structured product is an investment whose operating rules are defined before the investment. It is based on a reference value, for example a stock index such as the CAC 40, and predefines various redemption scenarios and the conditions allowing for a potential gain.
An investment whose rules are defined in advance
With a structured product, the main characteristics are known before you invest: the maximum duration of the product, the target yield, the conditions that could trigger early repayment, and the level of capital protection at maturity.
In other words, the rules are written before you invest. It is therefore possible to know in advance the different scenarios provided by the product and the conditions associated with each. The product is designed to be held until its term: an early exit can lead to capital loss.
Capital protection that depends on the product
Capital protection is not the same for all structured products. It can be total at maturity or only partial, depending on the product’s characteristics.
CORUM Pallas thus offers a return of 5.6% per year and a risk indicator of 1 out of 7, with capital guaranteed at maturity, excluding issuer default. CORUM Vesta, on the other hand, provides capital protection up to a drop of 60% of its reference value at maturity.
These differences show why it is essential to read the specific features and redemption conditions of each product before investing.
Why is CORUM entering structured products?
A new building block within CORUM Life
With structured products, CORUM L’Épargne adds a new asset class within its CORUM Life life insurance contract. This new offering complements the range of solutions already offered by the group, such as bond funds and SCPI, and provides a new diversification opportunity for savers.
The expertise and positioning claimed by CORUM
CORUM emphasizes nearly 20 years of investment selection experience and its approach based on transparency and education. The group also claims independence in selecting banks and structured products, with the aim of retaining market terms it deems most suitable.
With CORUM Pallas and CORUM Vesta, CORUM thus applies its approach to the selection and explanation of investments to the financial markets, in a new range accessible from €1,000.
Review of CORUM Pallas Structured Product: what is this new product worth?
CORUM Pallas is one of the two structured products launched by CORUM L’Épargne within its CORUM Life life insurance contract. It provides a target yield of 5.6% per year and a 100% capital protection at maturity, excluding issuer default.
Key takeaways of the CORUM Pallas structured product
| Characteristic | CORUM Pallas |
| Reference value | A rate |
| Yield objective | 5.6% per year, with memory effect |
| Capital protection | 100% of capital guaranteed at maturity, excluding issuer default |
| Early redemption | Possible from year 2, depending on conditions |
| Duration | Minimum 2 years, maximum 12 years |
| Risk indicator | 1/7 |
| Initial observation | December 28, 2026 |
| Minimum payment | €1,000 |
A 5.6% per year yield target
CORUM Pallas shows a target yield of 5.6% per year, with a memory effect. Coupons are paid in the event of early redemption or at maturity, according to the conditions provided.
The product can be redeemed from the second year if the conditions are met. Otherwise, it may remain invested until its maturity, set for December 28, 2038, i.e., a maximum duration of 12 years.
A capital guarantee at maturity
CORUM Pallas provides a 100% capital guarantee at maturity, excluding issuer default. This guarantee concerns the risk related to the evolution of the reference value and requires holding the product until its maturity or until its early redemption under the planned conditions.
However, this guarantee does not eliminate the risk related to the issuer and the guarantor. The Key Information Document states that in the event of a failure of either, the investor may lose all or part of their investment.
A risk indicator of 1 out of 7
CORUM Pallas shows a risk indicator of 1/7. This level should be considered in light of the product’s holding period: the indicator is calculated assuming the investor holds the product until December 28, 2038.
In the event of an early exit, the risk can be different and the investor may recover less than the amount invested. Selling can also be difficult in certain market conditions.
What to remember about CORUM Pallas
CORUM Pallas therefore rests on three main characteristics: a 5.6% annual yield objective, a 100% capital protection at maturity excluding issuer default, and a duration of up to 12 years. The product requires accepting a potentially long investment horizon and thoroughly understanding the exit conditions.
Review of CORUM Vesta Structured Product: what is this new structured product worth?
CORUM Vesta is the second structured product launched by CORUM L’Épargne within its CORUM Life life insurance contract. It differs from Pallas by a 9% annual yield objective and a capital protection that applies up to a decline of 60% of the reference value at maturity.
Key takeaways of the CORUM Vesta structured product
| Characteristic | CORUM Vesta |
| Reference value | MSCI EMU Top 30 Select 50 Points Decrement |
| Yield objective | 9% per year |
| Capital protection | Up to a 60% drop in the reference value at maturity |
| Early redemption | Daily observation from year one |
| Payout threshold | Initial level, then a decline of 3 points per year |
| Duration | Minimum 1 year, maximum 12 years |
| Risk indicator | 5/7 |
| Initial observation | December 28, 2026 |
| Minimum payment | €1,000 |
A 9% per year yield objective
CORUM Vesta shows a yield objective of 9% per year. Repayment can occur from the first year, depending on the product’s provisions.
Reference level observation is daily from year one. The payout threshold starts at the initial level and then decreases by 3 percentage points per year. If the repayment conditions are not met, the product continues until its maturity, set as per its documentation, i.e., a maximum duration of 12 years.
Capital protection up to a 60% decline
The capital protection here is different from that of CORUM Pallas. At maturity, capital is protected as long as the reference value has not declined by more than 60% from its initial level.
Beyond this decline, the protection does not apply in the same way: the amount recovered then depends on the evolution of the reference value. It is therefore essential to understand this condition before investing.
A risk indicator of 5 out of 7
CORUM Vesta shows a risk indicator of 5/7, higher than that of CORUM Pallas. This indicator should be considered alongside the level of capital protection and the potential duration of the investment.
As with any structured product, an exit before maturity can lead to receiving less than the amount invested. The price at which the product can be sold depends in particular on market conditions at the time of exit.
Exposure to major European companies
The reference value of CORUM Vesta is the MSCI EMU Top 30 Select 50 Points Decrement. It is based on the 30 largest companies in the euro area, with a composition updated each year.
Among them are major European companies such as ASML, Siemens, LVMH, Air Liquide, Airbus, L’Oréal, BNP Paribas, Schneider Electric and Allianz.
What to remember about CORUM Vesta
CORUM Vesta is thus characterized by a yield objective of 9% per year, a duration of up to 12 years, and capital protection up to a 60% decline in the reference value at maturity. With a risk indicator of 5 out of 7, its characteristics differ considerably from those of CORUM Pallas.
CORUM Pallas or CORUM Vesta: which structured product to choose?
CORUM Pallas and CORUM Vesta respond to different profiles. Pallas places more emphasis on capital protection at maturity, while Vesta offers a higher yield objective in exchange for a different risk level and capital protection.
The choice therefore depends notably on your investment horizon, the level of risk you are willing to take and the level of protection you seek.
CORUM Pallas or CORUM Vesta: which structured product to choose?
| Characteristic | CORUM Pallas | CORUM Vesta |
| Yield objective | 5.6% per year | 9% per year |
| Reference value | A rate | A 30-company euro zone index |
| Capital protection at maturity | 100%, excluding issuer default | Up to a 60% decline in the reference value |
| Early redemption | From year 2, depending on the conditions | From year 1, depending on the conditions |
| Duration | 2 to 12 years | 1 to 12 years |
| Risk indicator | 1/7 | 5/7 |
| Minimum payment | €1,000 | €1,000 |
Pallas and Vesta do not offer the same level of protection or the same risk level. Pallas shows a risk indicator of 1 out of 7 and 100% capital protection at maturity, excluding issuer default. Vesta shows a risk indicator of 5 out of 7 and protects capital at maturity up to a 60% decline in the reference value.
What are CORUM’s structured product fees in 2026?
The fees related to the design and marketing of a structured product are built into the price of the product and into the return offered to the investor. They are therefore not necessarily charged as a separate fee on top of the stated yield. For the saver, the key is to understand the return that can actually be obtained after costs.
In the case of CORUM Life, the fees applicable to the portion invested in structured products are as follows:
| Frais du contrat CORUM Life | Amount |
| Frais d’entrée | 0 % |
| Frais de gestion annuels | 0.6% |
| Frais sur l’unité de compte | 0 % |
| Frais de rachat | 0 % |
| Frais d’arbitrage | 0 % |
| Versement minimum | 1 000 € |
The 0.6% annual management fee is applied only to the portion invested in structured products. It is added to the costs embedded in the product’s construction.
The CORUM Pallas documentation allows measuring the impact of these different costs: for a €10,000 investment, it shows €614 of total costs in the scenarios presented. In the scenario where the product is held to maturity, the cost impact is estimated at 0.54% per year.
To compare structured products, you must therefore look at both the proposed yield and all costs that can reduce the yield actually obtained.
CORUM Structured Products: what risks should you know before investing?
Structured products allow you to define in advance the repayment conditions, but they involve several risks that you should understand before investing. Capital protection, investment duration and exit conditions vary depending on the chosen product.
Capital is not always guaranteed
Not all structured products provide the same level of capital protection. CORUM Pallas provides a 100% capital guarantee at maturity, excluding issuer default. CORUM Vesta provides capital protection up to a drop of 60% in the reference value at maturity.
This protection therefore depends on the product’s own features and on holding it until maturity or until an early redemption under the planned conditions.
A potentially long investment horizon
A structured product can be redeemed before its maturity if the planned conditions are met. But otherwise, the investment can stay immobilized for several years.
For CORUM Pallas and for CORUM Vesta, the maximum duration can reach 12 years. It is therefore important to invest only sums you do not need in the short term.
An early exit can lead to a loss
Structured products are designed to be kept until their redemption or maturity. An early exit can lead to a loss of capital, even when the product provides capital protection at maturity.
The amount recovered then depends in particular on market conditions at the time of sale. CORUM Pallas’s documentation also states that selling can be difficult in certain market conditions.
Issuer credit risk
The protection provided by a structured product does not cover the risk of issuer or guarantor default. If the issuer or guarantor cannot meet its obligations, the investor may lose all or part of their investment.
For CORUM Pallas, the product is issued by Citigroup Global Markets Funding Luxembourg S.C.A., with a guarantee by Citigroup Global Markets Limited. The Key Information Document states that the product is not covered by a deposit protection scheme.
The yield shown is conditional
The yield announced for a structured product corresponds to a target that is subject to the conditions provided by the product. It is therefore not a yield earned independently of the product’s evolution or the holding period.
The redemption scenarios, the conditions enabling early redemption, and those determining the amount paid are defined in the product’s documentation. It is therefore essential to understand these rules before investing and to verify that they match your investment horizon.
Who are CORUM’s structured products for? Café de la Bourse Review
CORUM’s structured products can be suitable for savers who already have a sufficient emergency fund and can invest part of their wealth for several years. They are thus more suited to savers who do not need to access this portion of their savings in the short term.
With a minimum investment of €1,000, CORUM Life makes this new range accessible to a wide range of savers. But the minimum amount should not be the sole criterion: you must mainly be able to keep your investment until repayment or maturity and accept that the level of capital protection and the level of risk vary depending on the chosen product.
In practical terms, this type of investment may suit your situation if:
- you have already built your emergency savings;
- you have an amount you can invest for several years without needing it for daily expenses or a short-term project;
- you want to add a new diversification pillar to your savings;
- you are willing to take time to understand the repayment rules and the risks specific to the chosen product.
Conversely, structured products are less suitable if you are seeking immediately available savings, if you might need to retrieve your money quickly, or if you do not wish to take on any risk related to exit conditions or issuer default.
First, before looking at the yield shown, ask yourself a simple question: can I leave this sum invested for several years without needing it? If the answer is no, this type of investment probably does not fit your needs. If the answer is yes, you should then carefully compare capital protection, duration, risk level and the exit conditions of the product you are considering.
How to subscribe to CORUM structured products?
Subscriptions to CORUM Pallas and CORUM Vesta structured products are made within the CORUM Life life insurance contract. To begin, you can complete your procedures online or be assisted by a CORUM L’Épargne advisor.
Subscription requires you to provide several pieces of information about your personal and financial situation, your objectives, your investment horizon and your knowledge of financial products. These elements help verify that the product you are considering matches your investor profile.
You will also need to provide the necessary documents for the subscription, notably an identity document, a bank account details (RIB) and a proof of address, then make your first payment. The minimum amount is €1,000.
For CORUM Pallas and CORUM Vesta, subscriptions open on October 1, 2026 and continue until December 28, 2026 inclusive, subject to the available envelope not being reached before that date.
Before subscribing, take the time to consult the product documentation and verify that its duration, its redemption conditions, its level of protection and its level of risk indeed match your situation and investment objectives.
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