Avail of €3000 Annual Gift Tax Exemption
Zurich Life has developed the Zurich Life Child’s Savings Plus Plan, a savings plan which allows you to invest in the Prisma range of investment funds. By saving through this plan, you can build up a fund for the child and by assigning the plan to the child you can make full use of the annual Gift Tax exemption of €3,000 from any one individual (€6,000 from a married couple).
For example, if the current children’s allowance of €135 per month was invested in a Child’s Savings Plus policy from when the child is born, it could build up to a fund of €36,393.32* by the time the child reaches adulthood at the age of 18.
Your child could then access this fund and use it to give themselves a good financial start. The Child’s Savings Plus Plan is designed to enable you to save for the child in this way and this innovative product is available to parents, grandparents, godparents or any adult relation or friend of a child.
* This assumes level premiums and a return of 6% per annum.
Warning: These figures are estimates only. They are not a reliable guide to the future performance of your investment.