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 and is a very disciplined and convenient way to start saving modest but regular amounts.

The MSV Child Savings Plan is a regular premium with-profits endowment policy that offers the flexibility of making an unlimited number of top-ups during the term of the plan.

According to Chief Officer - Sales Management Stuart Fairbairn: “Raising a child these days can indeed be very costly but expenses can actually be more manageable with careful forward planning”. Commenting on the new Child Savings Plan, he said “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.”

MSV Life CEO David G. Curmi said: “The trend of diminishing savings in Malta is not unique to the Island but is, indeed, a European-wide phenomenon. MSV is committed to playing 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.”