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BOV INSURANCE

Save for your child's future

A plan which helps you save for your child in a flexible manner.

Invest with flexibility

You will be investing in the MAPFRE MSV Life With-Profit fund which invests in a diversified portfolio. This fund provides you with peace of mind as explained in the Key Features Document and will help your savings grow in a secure and tax efficient manner.

The policy owner receives a tax-free sum at maturity

The MAPFRE MSV Life Child Savings Plan is a flexible regular contribution plan which aims to help you save for your child, benefitting from capital growth and providing a lump sum at maturity.

Enjoy a range of benefits for extra protection.

The plan offers death benefit, funeral expenses benefit, and terminal illness benefit.

Plan details

What does this plan include?

Discover the features and benefits of the MAPFRE MSV Life Child Savings Plan.

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Minimum contribution of €40 per month or proportionate multiples thereof if contribution is paid quarterly, half-yearly or annually.
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Plan covers the child only.
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The possibility to make additional top-ups of a minimum of €250 (no top-ups allowed in the final year of the plan).
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Minimum plan term of 8 years and has to end by the time the child is 25 years old.
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At the end of the selected period, you can opt to receive the full value of the Plan as a lump sum.

What benefits do I get with this plan?

Learn about the benefits you get with the MAPFRE MSV Life Child Savings Plan.

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Death benefit: Payment of 101% of the value of your policy payable in the event of the person covered.
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Funeral expenses benefit: Receive up to €2,500 as a partial pre-payment of the death benefit.
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Terminal illness benefit: Payment of up to 75% of your policy as a pre-payment of the death benefit if the covered is diagnosed with a terminal illness.
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Cash surrender benefit: Option to cash in the Plan partially or in full before its maturity. The surrender amount is calculated by applying the surrender charge (and market value reduction if applicable) to the policy account.
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Maturity benefit: Payment of the policy account upon maturity of the plan.
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Child life cover option: The child covered will have the option to purchase life cover when they are between 18 and 25 years old, for an insured sum not exceeding €25,000. This is subject to terms and conditions as explained in the Key Features Document.

You may wish to refer to the product documentation available in the Important Documents section hereunder or obtain a copy from any BOV Branch upon request.
DOWNLOADABLE RESOURCES

Important documents

Key features document - MAPFRE MSV Life Child Savings Plan
Key information document - MAPFRE MSV Child Savings Plan
MAPFRE MSV Life - Simple guide to with profits funds

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Bank of Valletta p.l.c. is an enrolled Tied Insurance Intermediary under the Insurance Distribution Act, Cap. 487 of the Laws of Malta for MAPFRE MSV Life p.l.c. (MMSV). MMSV is authorised under the Insurance Business Act, Cap. 403 of the Laws of Malta. Both entities are regulated by the Malta Financial Services Authority.

The product is manufactured by MAPFRE MSV Life and is distributed by Bank of Valletta p.l.c

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