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MAPFRE MSV Unit Linked Savings Plan

PUTTING YOU IN CONTROL – An MAPFRE MSV Unit Linked Savings Plan can help make your future more rewarding.  



Terms & Conditions
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– An MAPFRE MSV Unit Linked Savings Plan can help make your future more rewarding. 


 It provides you complete independence and control to tailor the plan to suit your personal circumstances.

  • Control - you decide how much to save, with the option to change the amount in the future.  You also decide where to invest.
  • Flexibilityyou can increase or decrease your contributions, stop for up to 5 years, then start saving again.
  • Freedom – no matter what your work or life circumstances might be, the MSV United Linked Savings Plan will continue to work for you because it is in your name and for your own benefit.
  • Choice - although the minimum term of the plan is 10 years, you are free to decide at what age you would like to access your plan’s benefits.
  • Independence - the Plan is designed to pay you a lump sum to spend or invest as you wish.  

Why should you start a regular savings habit?

It doesn’t matter what you want to save for - your home, a holiday, a new car or your retirement. Start saving either monthly, quarterly, half yearly or yearly. How much you save is up to you. You can even make one-off investments into the plan to give your savings that extra boost. 

What is the Unit Linked Savings Plan? 

  • The plan is a long-term savings plan designed to help you save on a regular basis. You choose how much you want to save and for how long so you can plan the maturity to coincide with a special event
  • The plan offers a wide and flexible choice of where you can invest your savings, from MAPFRE  MSV’s With Profits Fund, to other funds managed by external professionals. The level of risk varies from one fund to the other and the plan can be designed to reflect your personal investment objectives. 

 To keep you informed about the plan’s performance and value, MAPFRE  MSV Life will provide you with a free policy statement once a year or every six months if specifically requested.

  These are the main features of the MAPFRE  MSV Unit Linked Savings Plan: 

Plan A long term regular contribution savings plan, the value of which is linked to the value of the underlying investment funds that you choose.
Minimum Premiums €40 Monthly; or
€120 Quarterly; or
€240 Half-Yearly; or
€480 Annually
Age at Entry The Person Covered must be between the ages of 18 and 65 when the Plan starts, and cannot be older than 75 when the Plan finishes.
Additional Top-Ups Minimum €500.
Unlimited number of top-ups subject to an allocation charge.
No Top Ups can be made in the final year of the Plan.
Applicant Single Life or Joint Life First Death
Minimum Term A minimum of 10 years, and must end by the time the Person(s) Covered is 75 years old.
Beneficiary Beneficiary - You can appoint one or more beneficiaries to receive the benefit under the Plan, when this is due. The appointment of a beneficiary (and acceptance thereof) under a life insurance contract does not need to be confirmed in a will and it also supersedes the provisions of a will if there is any conflict between the two.
BenefitsDeath Benefit - Payment of 101% of the value of your Policy Account will become payable in the event of death of the Person Covered.

Terminal Illness Benefit - Payment of up to 50% of the Policy Account as a pre-payment of the Death Benefit if the Person Covered is diagnosed to be terminally ill before the Plan finishes.

Funeral Expenses Benefit - Payment of the cost of funeral expenses [subject to a maximum of €2,500] in the form of a partial pre-payment of the Death Benefit.

Cash Surrender Benefit - Option to cash in the Plan in part or in full before its maturity. The surrender amount is based on the Policy Account and may be subject to the application of surrender charges [and MVR, if applicable).

Maturity Benefit - At the end of the selected period, the full value of the Plan is paid as a lump sum.
Additional benefits (optional)1. Waiver of premium.
2. Add a level or reducing amount of Life Cover (the “term rider sum insured’).
Investment choice Apart from selecting one or more unit-linked investment funds, you may also choose to allocate a percentage (maximum 50%) of your contribution to the MAPFRE MSV With Profits Fund. 

The ‘Abridged Chartbook’, available on our website, provides full details of the funds available, including their objectives, risk profile and the investments they hold.
Switches The first two switches in any calendar year are free. Subsequent switches will be charged at 0.5% of the bid value, subject to a minimum of €25.

Interested in knowing more about the MAPFRE MSV Life Unit Linked Savings Plan? Learn more about the benefits it will offer you by clicking on the next tab. You may also request a quote by clicking here

The MAPFRE MSV Unit Linked Savings Plan is designed to help you save for your future. It offers you the independence and control to tailor the plan to suit your personal circumstances.

  • Benefits are normally payable on your selected maturity date or on death, whichever occurs first.
  • However benefits may be taken earlier subject to Policy terms and conditions applicable at that time. Charges may be applied if you take benefits in the early years.
You can choose to increase the amount payable on death before maturity and you can choose to protect your contribution payments in case of sickness or injury.

Additional Life Cover
The MAPFRE  MSV Unit Linked Savings Plan will pay 101% of the value of your Policy on death before retirement; however you can elect to increase this by selecting the Additional Life Cover option.
Under the option you choose how much additional money you would like to be paid. You can choose a level or a decreasing term insurance policy.
The cost of providing the additional cover will be provided in your illustration.

Waiver of Contribution 
You have the option to protect your future contributions in case you are unable to work due to accident or illness. This option is only available if the Policy Owner and the Person Covered is the same person.
If you select this option we will automatically credit your Policy with your contributions from the date of the claim until the maturity date of the Policy or the date the claim ceases, whichever is the earliest.
The cost of this benefit is 3.5% of your regular contributions.


The Policy Charges:

·      The charges we make cover the cost of setting up your Policy, any advice provided, as well as the costs of administration, marketing and investing your money.

  • We take an annual management charge of 0.2% p.a. by cancelling units in your Policy on a monthly basis.
  • A Policy Fee of €2.50 per month will be taken by cancelling units on a monthly basis to pay for the maintenance of the Policy. The fee will increase each year in line with the official inflation rate as published in the Government Gazette, or 3.5%, whichever is higher.
  • In the first year only of the Policy a deduction will be made from the regular contributions in order to cover establishment costs. The amount of deduction will depend on the size of the contribution:


 Annual Contribution Year 1 allocation Year 2+ allocation
 Up to €899 80% 100%
 €900 - €1,799 90% 100%
 €1,800 - €2,399 95% 100%
 €2,400 + 100% 100%

All charges are reviewable and may be changed after the Plan has started, but we will give you 90 days notice if they are changed. 

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Do you want to learn more about the MAPFRE MSV Unit Linked Savings Plan? Then why not start with a free quote or by clicking on the ‘Live Help’. One of our representatives will be able to help you immediately.

If you require more details about the range of life policies from MSV Life, you may:
• check out the other MAPFRE  MSV Life policies on this site
• send us an e-mail at [email protected]
• click on the ‘Get in Touch’ icon at the top (right hand corner) and submit your query and contact details. We’ll contact you as soon as possible.
• You may also contact any BOV Branch or our BOV Customer Service Centre on 2131 2020 for additional information. 
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MSV Unit Linked Savings Plan
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Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).