Child Savings Plan
A flexible savings plan specially designed to help you put something aside to make your child’s dreams come to life as they grow.
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Manufacturer of the product is: MAPFRE MSV Life
MAPFRE MSV Life p.l.c. (C-15722) is authorised by the Malta Financial Services Authority (MFSA) to carry on long-term business under the Insurance Business Act, Cap. 403 of the Laws of Malta. MAPFRE MSV Life p.l.c. is regulated by the MFSA.
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It is a precious gift for a child, grandchild or young loved one, and a great way to teach your child about the value of saving. The Plan offers valuable capital guarantees at maturity, and access to part of the savings over the years.
- A With Profits regular premium savings plan.
- It aims to help you save for your child in a flexible manner, adapting to changing circumstances.
- From each regular premium that is paid in, we will deduct the policy charges and the balance will be credited to your Policy Account.
- The Plan participates in our distribution of profits. With Profits investment smoothes the return on your money by spreading the profits over good and bad years.
- The Plan is designed to help your savings grow in a secure and tax efficient manner.
- To provide you with a medium to long term tax-efficient investment and a tax-free cash sum by the time the child is 25 years old.
- To pay a nominal Death Benefit of 101% of the Plan value to you, your estate, or a designated beneficiary upon the death of the Person Covered before the Plan term expires.
- To give you access to some of your savings during the policy’s term which you may use to help you with ongoing expenses related to the child.
- To give you the flexibility of changing the amounts you pay in to reflect your changing circumstances over time.
- You determine the duration of the Plan when it starts, subject to a minimum of 8 years.
- To pay premiums regularly for the selected term of the Plan.
- If you cash in your Plan before the maturity date, you may not get back as much as you invested.
- What you might get back will depend on the investment performance and the bonuses which may be added to your Plan. The rate of future bonuses is not guaranteed and may change over the years.