MSV Life, Malta’s leading life insurance company has launched the MSV Child Savings Plan.
This product has been specifically designed for parents and grandparents to plan for the future financial needs of their children and grandchildren. The MSV Child Savings Plan is a very disciplined and convenient opportunity to start saving modest but regular amounts to provide the best for one’s children or grandchildren.
The MSV Child Savings Plan is a regular premium with-profits endowment policy that offers the flexibility to make an unlimited number of top-ups during the term of the Plan.
Chief Officer – Sales Management, Stuart Fairbairn, explained that “raising a child these days can be indeed very costly but expenses can actually be more manageable with careful forward planning”. Commenting on the new Child Savings Plan, Mr. Fairbairn stated that “it is a very easy, disciplined and tax-efficient way of starting to save for children from as little as €1.32 per day. The earlier you start saving, the better placed you and your child will be for the future”.
David G. Curmi, Chief Executive Officer of MSV Life stated “the trend of diminishing savings in Malta is not unique to the Island but is, indeed, a European-wide phenomenon. MSV is committed to play an important role in developing a stronger savings culture in Malta. Savings-related insurance products, such as the new MSV Child Savings Plan, are simple yet disciplined and valuable medium-to-long–term investment instruments that encourage families to start saving for their children from a very early age, especially since the current savings of most households are insufficient for their long-term financial security.”
MSV Life p.l.c. is authorised by the Malta Financial Services Authority to carry on long term business under the Insurance Business Act 1998. COM 301111