The Aviva bancassurance division announces the launch of its systematic individual savings plans, a new savings product that, upon maturity, generates a guaranteed, high-liquidity return. The first Aviva bancassurance companies to launch this product are Aseval and Caja España Vida, with the other members of the division (Bia Galicia, Unicorp Vida and General Vida) due to follow suit.
The Aviva bancassurance division announces the launch of its systematic individual savings plans, a new savings product that, upon maturity, generates a guaranteed, high-liquidity return. The first Aviva bancassurance companies to launch this product are Aseval and Caja España Vida, with the other members of the division (Bia Galicia, Unicorp Vida and General Vida) due to follow suit.
Aviva bancassurance customers will enjoy a guaranteed interest rate, revised quarterly, and total flexibility with regard to contributions. They may make periodic or extraordinary contributions up to an annual maximum of €8,000 and a cumulative maximum per policy of €240,000. Moreover, the plans offer total liquidity, allowing customers to partially or fully cash them in at any time.
Another of the benefits is that, in the event of death, the beneficiary will receive the funds accumulated until that time, plus 5% additional capital.
Systematic individual savings plans are a new investment option and are especially geared towards to people who, because of their age, need to supplement their pension plans. They are also an alternative form of retirement income, for future liquidity needs.
With the latest Spanish income tax reform, systematic individual savings plans are set to become increasingly important in the market because of their favourable tax treatment, given that, if the customer sets up a life annuity with the capital accumulated after 10 years since the first contribution, the income generated during those years is exempt from tax.
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For more information contact:
Laura Villuendas
Media Relations Manager
Telephone: +91 297 18 17
Mobile: +91 637 734 045
E-mail: laura.villuendas@aviva.es
Notes to editors:
Aviva
Aviva is one of the leading European insurance groups in the life and pensions market.
In Spain, Aviva is a key player in the life insurance and pensions industry. It markets its products through professional brokers (Aviva Vida y Pensiones) and strategic alliances (50% holdings and managed by Aviva) with some of the main Spanish savings banks (Bancaja, Caixa Galicia, Unicaja, Caja España and Caja Granada).