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MAPFRE MSV Life Single Premium
If you have a lump sum of money to invest and you are looking for a relatively steady but conservative growth in return, the MAPFRE MSV Life Single Premium Plan is the ideal solution for you.
Terms & Conditions
Apply Now

If you have a lump sum of money, which you have saved over the years or perhaps inherited and are looking for a potentially better alternative to banks’ saving and term deposit accounts, look no further. Under current legislation and tax practice, the MAPFRE MSV Life Single Premium Plan is an ideal tax-efficient, medium to long-term savings plan for those wishing to invest a lump sum of money with relatively steady but conservative growth.

Why should you opt for an MAPFRE MSV Life Single Premium Plan?

·        You have the opportunity to reap the potential for medium to long-term tax efficient capital growth;

·         This policy allows you to access your money by making one-off withdrawals or regular annual withdrawals.

What is the MAPFRE MSV Life Single Premium Plan?

·         It is a with-profits single premium plan.

·         The Plan participates in our distribution of profits. With-profits investments aim to smooth the return on your money by spreading the profits over good and bad investment years. 

These are the main features of an MAPFRE MSV Life Single Premium Plan

Type of Plan

With-Profits Single Premium plan

Minimum Premiums

€5,000 – Applicants taking out a plan before age 75
€10,000 – Applicants aged 75 or older

Minimum Term

8 years

Age at Entry

3 months to 17 years (Child Policy versions)
18 to 82 years (Terms and Conditions apply)

Additional Top-Ups

Minimum €500

Number of Top-Ups unlimited

No top-ups allowed in the final year of the plan

Free Partial Withdrawals of Capital

Minimum €500 after the 3rd year subject to minimum of €5,000 retained in the Plan


You can appoint one or more beneficiaries to receive the benefit under the Plan, when this is due. There is no charge for this arrangement to be implemented and it requires only the completion of a simple form. 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.

Interested in knowing more about the MAPFRE MSV Life Single Premium Plan? Learn more about the benefits it will offer you by clicking on the next tab. You may also request a quote by clicking on Apply Now.

With an MSV Single Premium Plan, you get all this:


Death Benefit

Payment of 101% of the single premium paid (or 101% of the Policy Account whichever is higher) if the Person Covered is 70 years old or younger at the time of death OR Payment of 100% of the single premium paid  (or 100% of the Policy Account whichever is higher) if the Person Covered is 71 years old or older at the time of death.

Funeral Expenses Benefit

Payment of the cost of the funeral expenses (subject to a maximum of €2,500) in the form of partial pre-payment of the Death Benefit. 

Cash Surrender Benefit

Option to surrender the Plan in part or in full before maturity. The surrender amount is based on the Policy Account and subject to the application of surrender charges and MVR (if applicable).

 Partial cash surrender may be made:

  •          after 3 years from date of investment;
  •          subject to retention of at least €5,000 in the Policy Account;
  •          subject to a minimum withdrawal of €500.


Maturity Benefit

Payment of the Policy Account upon maturity of the Plan.

Policy Fee

€100 charged once when the First Policy is issued. This is reduced to €25 in the case of the second or any subsequent Single Premium Plan. 

Top-Up Fee

€25 charged when and if Top Up Premiums are paid.

 Allocation Charge

A percentage deduction from the premium paid (both first and Top-up) will be made in accordance with the allocation bands below:

 Allocation band Allocation charge Premium paid
 1 3% Up to €69,999
 2 2% Between €70,000 and €114,999
 3 1.5% Between €115,000 and €229,999
 4 1% Over €230,000

Surrender Charge

3.0% within 1 year from the Date of Investment

2.0% after 1 year but before the end of 2 years from the Date of Investment

1.0% after 2 years but before the end of 3 years from the Date of Investment

0.0% after 3 years

Market Value Reduction

If you take out money from your Plan, we retain the right to effect an MVR and increase the surrender charge. This adjustment is designed to protect investors who are not taking their money out and its application means that you get a fair share of the with-profit fund in which your payments are invested.

MVR cannot be applied

·                     upon maturity of the Plan

·                     in the event of the payment of the Death Benefit.

This reduction is designed to protect investors who remain invested and its application means that you get a fair share of the with-profits fund in which your savings are invested.

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If you require more details about the range of life policies from MAPFRE MSV Life, you may:
• check out the other MAPFRE MSV Life policies on this site
• call our Customer Service Centre on 356 2131 2020
• 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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KFD-MSV Single Premium 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).