Flexi Savings PlanChild Savings PlanUnit Linked Savings PlanSingle Premium planInvestment BondPersonal Pension PlanWorksave Pension PlanFlexi Savings Plan
Plan Description
A With Profits regular savings plan that participates in the returns of the MAPFRE MSV Life With Profits Fund, smoothing returns over time.
Designed to help your savings grow securely and tax-efficiently.
Invested amounts, after charges, are guaranteed to be repaid at maturity or upon death, along with declared bonuses.
Its Aims
Provide a medium- to long-term, tax-efficient investment with a tax-free cash sum at plan maturity.
Pay a death benefit of 101% of the plan value if the Person Covered passes away during the term.
Allow flexible contribution amounts to adapt to changing circumstances.
Your Commitment
Make regular contributions for the selected plan term (minimum 6 years).
Option to make top-up contributions anytime during the term, except in the final year.
Determine the plan term when starting.
Risk Factors
Returns depend on With Profits Fund performance and declared bonuses, which are not guaranteed and may vary.
Early cash-ins may result in reduced payouts due to charges or market adjustments (Market Value Reduction).
No payout is given if canceled within the first 3 years. Early termination after this may still result in losses due to charges.
Returns are influenced by external factors like tax changes and inflation.
Inflation reduces the real value of future payouts.
Key Product Features
Minimum Contributions
€40 monthly or proportional multiples if paid quarterly (€120), half-yearly, or annually.
Top-Up Contributions
Optional lump sums of at least €250, not allowed in the final year. Each top-up aligns with the plan’s maturity date and determines eligibility for a final bonus.
Life Cover Basis
Covers Single Life or Joint Life First Death.
Plan Duration
Minimum of 6 years.
Age Limits
Person(s) Covered must be 18–69 years old at the start and no older than 75 at the end.
Policy Owner
Any individual aged 18+ or a corporate entity.
Beneficiaries
One or more beneficiaries can be appointed via a simple, free form. This designation overrides conflicting will provisions.
Plan Benefits
Death Benefit
101% of the Policy Account paid if a Person Covered dies during the plan term.
Terminal Illness Benefit
Up to 75% of the Policy Account paid early if terminally ill.
Funeral Expenses Benefit
Covers up to €2,500, deducted from the Death Benefit.
Cash Surrender Benefit
Full withdrawal before maturity is allowed, subject to charges and market value adjustments.
Policy Loan
Borrow up to 85% of the plan’s cash surrender value using the plan as security.
Maturity Benefit
Full Policy Account value and any final bonuses paid at maturity.
Additional Life Cover
Option to add level or reducing life cover.
Please refer to the Key Features Document and Product information document (if applicable) for a full description of cover and exclusions.
Plan Documentation Downloads
Key Features Document
The Key Features Document gives you a better understanding of the key features of this plan. It also answers some frequently asked questions and provides a clear description of benefits. This KFD relates to the Flexi Plan, which is a ‘With-Profits’ savings plan.
DownloadKey Information Document
Download the Key Information Document (“KID”), in line with PRIIPs Regulation. The Regulation is intended to make it easier for retail investors to understand and compare the key features, risk, rewards and costs of different products in scope of PRIIPs through the provision of the KID. Any provider offering you a similar savings plan should provide you with a similar KID. This KID relates to the Flexi Plan, which is a ‘With-Profits’ savings plan.
DownloadCommonly Asked Questions
Find the answers to frequently asked questions here. For any other inquiry please click button below.