Child Savings Plan
This product forms part of the MAPFRE MSV product range.
- A with profits regular premium plan, with a minimum premium of €40 monthly
- Provides you with a simple and secure way to help you save for your child in a flexible manner, adapting to changing circumstances
- Pays a lump sum at the end of the term of the plan
- The child covered under the plan will have the option to purchase life cover when they are between the ages of 18 and 25 without medical evidence, for a life cover not exceeding €25,000
- If death occurs before the end of the policy, you receive a death benefit of 101% of your policy account
- The policy pays up to €2,500 for funeral expenses costs in the form of a pre-payment of the death benefit
- You can pay the premiums monthly, quarterly, half yearly or yearly
- The duration of the plan must be of a minimum of 8 years and must end when the child is 25 years old
- Anyone domiciled in Malta can have this plan.
- The policy is on a single life basis covering the life of the child