CHARACTERISTICS

FAQs

Unit linked life insurance

My Savings Insurance is a unit linked life insurance in which you, as a policyholder, assume the risk of the investment. The aim of the insurance is to build up medium and long-term savings from a regular monthly contribution plan.

Advantages of the My Savings Insurance

  • It is a flexible Plan1. The insurance is opened with an extraordinary initial contribution and a periodic contribution plan (from €50/month) in which you decide what you want to contribute each month. Contributions can be modified, suspended or rehabilitated and the plan allows extraordinary contributions.
  • Choose between different investment baskets. The client will decide from among the available investment baskets, what percentage of the contributions goes to one or another investment basket.
  • Additional bonus. If the client follows their contribution plan throughout the calendar year, Santander Seguros will give them a policy bonus equivalent to 0.10% of the average savings accumulated during that calendar year
  • You can retrieve the insurance at any time, with no penalty.
  • Coverage in case of death: The designated beneficiary/ies will receive the accumulated balance plus additional capital.

There are 2 investment baskets in which the contributions can be distributed.


Investment options

  • Santander Global Basket
    This basket aims to maintain a maximum 30% exposure to variable income and the rest of the exposure to fixed income through investment in selected funds.
  • Santander Sustainable Basket
    This basket aims to maintain a maximum 30% exposure to variable income and the rest of the exposure in fixed income through investment in the following selected funds of which at least 50% in investment funds which include Environmental, Social and Governance (ASG) criteria, in addition to following financial criteria, in their investment policies

How to arrange it

If you want more information about the My Savings Insurance and how to contract it, go to any Banco Santander branch.

Shall we discuss it?

If you would like more information, visit any of our branch offices.

Most common questions about this insurance savings plan

Who is My Savings for? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

Mi Ahorro insurance is aimed at individuals with tax residence in Spain and aged between 18 and 75 years and with low knowledge and experience according to the Bank's suitability test.

What happens if I fail to make a month's contribution? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

If the Policyholder does not make the contribution for one month, the right to the bonus for that annuity is lost.

Are the savings available at any time? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

You can redeem the insurance at any time, without penalty

Is it life insurance? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

Yes, it is a saving life insurance policy. The insurance has a death benefit so that if this were to occur while the policy is still in force, the beneficiaries would receive the accumulated savings plus additional capital. The policy will be cancelled from the moment of confirmation of death.

Is it a guaranteed insurance? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

This insurance is not a guaranteed product: in no case does the Insurance Company or Banco Santander guarantee any capital or profitability.

Shall we discuss it?

If you would like more information, visit any of our branch offices.

Preguntas frecuentes

    Who is My Savings for? What happens if I fail to make a month's contribution?

My Savings Insurance

Icon / check Created with Sketch. Flexible savings, you decide how much to contribute each month.

Icon / check Created with Sketch. You have different investment baskets to choose from.

Icon / check Created with Sketch. Bonus if you contribute every month.

Icon / check Created with Sketch. You can redeem the insurance at any time.

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