CHARACTERISTICS

FAQs

Comfortable and flexible contribution plan for your children

The Protected Child Savings Plan is a flexible, comfortable and fully liquid savings plan, right from the first day. It also has a guaranteed minimum interest rate. To ensure the future of your children you can make your own personalised plan with flexible contributions, where you decide how and how much you want to contribute.

In addition, the Protected Child Savings Plan has an insurance so that, in the event of death, your beneficiaries receive the accumulated balance of your plan plus additional capital.


Create a tailor-made plan

With the Protected Child Savings Plan, you decide how you want to save: through a regular contribution plan or by making extraordinary contributions:

  • Regular contribution plan: You decide the frequency with which you want to make contributions (monthly, quarterly, half-yearly or annually). With a minimum of € 30 and a maximum of € 100 per month.
  • Extraordinary contributions: You can also save by making extraordinary contributions with a minimum of € 600 and a maximum of € 5,000. Remember that the sum of the regular contributions plus the extraordinary contributions cannot exceed the maximum of € 5,000 per year.

Get a return

Another characteristic of the Protected Child Savings Plan is that you get a return on your savings. You will receive 50% of the return on the 3-year Spanish Bond with a guaranteed minimum annual interest rate of 0.25% net1.

With the Banco Santander Protected Child Savings Plan you have double coverage, as part of the contribution is destined to savings and the other to the coverage of a possible death.

  • In case of survival on the maturity date you will receive the part destined to the savings of the contributions made, plus the return, less the expenses and costs of the life insurance.
  • In the event of death before the maturity date, if your contribution plan is active, the beneficiaries will receive capital equal to the sum of all the contributions made so far, plus all the regular contributions that were planned until expiration. Whereas, if your contribution plan is inactive, the beneficiaries will receive a capital of 103% of the accumulated savings (less the life insurance costs).

Child Savings Plan Requirements

  • To arrange a Child Savings Plan, the Policyholder must be between 18 and 60 years old.
  • The maximum annual amount that can be contributed to a Protected Child Savings Plan policy is € 5,000 per year.
  • In the event that a customer has more than one contracted policy for this product, they must take into account that the maximum annual amount than can be contributed through regular contributions to the total of the policies taken out is € 5,000 per year.

For further information about this insurance policy or to arrange one, please visit your 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

Can the same policyholder take out more than one policy? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

Yes, where accepted by the Insurance Company. As long as the sum of the contributions made to all the policies does not exceed € 5,000 per year.

What if I want to redeem my money? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

The Protected Child Savings Plan allows you to redeem the savings as of the first day and without penalty. Redemption will always be for the total accumulated savings, partial redemptions are not allowed. Due to the cost of the death benefit, the amount redeemed may be less than the sum of the contributions made.

Can transfers be made from a Protected Savings Plan to another product? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

No. The Protected Child Savings Plan does not allow transfers to any other product.

Will I have to fill out a health questionnaire? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

Yes. The company may ask you to complete a health questionnaire and, where appropriate, medical tests, both at the time of taking out the policy and if there is any subsequent amendment to the terms and conditions of the initial policy.

What are the costs of the coverage in the case of death? Icon / PlusCreated with Sketch.Icon / minusCreated with Sketch.

Of the contributions made to the contribution plan, one part is intended for savings and the other to cover the costs of death coverage. These costs vary depending on the capital insured and the age of the insured person.

Shall we discuss it?

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

Preguntas frecuentes

    Can the same policyholder take out more than one policy? What if I want to redeem my money?

Protected Child Savings Plan

Icon / check Created with Sketch. Decide how often you want to contribute money to the plan.

Icon / check Created with Sketch. Get a return on your savings.

Icon / check Created with Sketch. It has the security of double coverage.

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