Savings insurance

Santander Vencimiento Europa

An insurance policy with a single premium, in which the Policyholder assumes the risk of the investment.

It can be taken out for a sum of between €10,000 and €50,000.
The goal is to receive regular annual payments and the return of the investment at maturity.
It can be fully surrendered at market value before it matures.

Single-premium unit-linked policy

During the life of the product, the objective is for the customer to receive annual payments through Pre-arranged Partial Surrenders, which will consist of a percentage applied to the amount of the initial premium contributed. These payments will be subject to tax withholding in accordance with the regulations in force at the time of payment.

To this end, the Insurance Company, Santander Seguros y Reaseguros Compañía Aseguradora S.A., invests the single premium in Spanish, French and Italian public debt.

You may fully surrender the policy before it expires in monthly windows at market value, which may be higher or lower than the investment initially made.

The policy includes cover for death at the market value of the investment, plus additional capital of €505. This amount may be more than or less than the initial premium paid.

The Mi Ahorro insurance policy is designed for individuals between 18 and 75 years of age, with tax residence in Spain.

Main Risks

Risk that the assets in which the customer's premium is invested decrease in value due to changes in market conditions.
Risk that the Insurer may be unable to meet its payment obligations to Policyholders.
Liquidity risk, i.e. the risk of suspension of the valuation of the account's units.
Risk of the potential negative materialisation of sustainability factors (known as ESG factors: environmental, social and good governance), which may have a negative impact on the financial performance of the portfolios associated with the insurance product.

As this is an Insurance Policy whereby the Policyholder undertakes the investment risk, the Insurance Company does not under any circumstances guarantee, using its own assets, the recovery of the amount invested by the Policyholder or the achievement of any returns.

The amount you will receive will depend on the fluctuations in financial markets, which are beyond the Insurance Company's control. Likewise, past results do not indicate future performance.

If you require more information about the Santander Vencimiento Europa and how to take it out, go to any Banco Santander branch or contact your Personal Santander Manager.

FAQs

This is a single-premium life insurance savings-investment policy in which the Policyholder assumes the investment risk and there is no guaranteed return (these are also known as "Unit Linked" policies). Additionally, there is a benefit in case of death before the end of the contract.

For each pre-arranged partial surrender, the earnings generated will be taxed as part of the Personal Income Tax (IRPF).

In the event of the death of the Insured, the death benefit agreed in the policy, which is received by the designated beneficiaries, is subject to Inheritance and Gift Tax (ISD).

In addition, this insurance policy will also be subject to wealth tax, at its surrender value as at 31 December each year.

Even so, current tax regulations will always be observed.

The maturity date is indicated in the pre-contractual information of the insurance policy, except in the event of the Insured's death prior to such date. However, the Policyholder may request a full surrender from the effective date and within the Liquidity Windows, in accordance with the terms and conditions of the policy.

Yes, the insurance policy provides full liquidity (partial surrenders are not permitted except for pre-arranged partial surrenders) from the start of your policy and within the monthly Liquidity Windows enabled in accordance with the following conditions:

Liquidity Window: As of the Effective Date of the Policy, the 15th of each month or the next market business day of each month if the 15th is not a business day shall be considered a Liquidity Window and the effective date for surrender.
Request: It must be requested by the Policyholder at least five calendar days prior to the effective surrender date.

The surrender value will be calculated based on the market value of the linked investment as detailed in the policy, so you may receive less than the initial premium invested.

No, this insurance does not allow for extraordinary contributions; it is a single-premium insurance.

You will receive quarterly information regarding the transactions made during the period, as well as updates on the accumulation value of your policy.

You will receive an annual statement of costs and expenses incurred during the calendar year of your policy.

Additionally, Policyholders can find out the value of their policy at any time by visiting their Banco Santander branch. You can also find out this value in your personal banking area, on the Banco Santander website or app.

Insurance mediated by Santander Mediación Operador de Banca-Seguros Vinculado, S.A. ("Santander Mediación"), through its distribution network Banco Santander S.A., by virtue of the agency agreement it has signed with the insurance company Santander Seguros y Reaseguros, Compañía Aseguradora S.A. Santander Mediación is a company registered with the Directorate General of Insurance and Pension Funds under number OV-0042 and has taken out civil liability insurance and Financial capacity according to current legislation.

Consult the rest of the insurance companies with which Santander Mediación has an Agency Agreement for the distribution of insurance products in www.santandermediacionobsv.com.