Savings at Acorn Life
We all have things for which we want to save. Most of us put away a few euro every month into our bank or building society account to save for our next holiday or to build up some savings for the unexpected. Deposit accounts are generally good for short-term saving needs, but these accounts offer unattractive growth potential.
There are also very good reasons for saving long term, including saving for a long held dream, a child's education or a down-payment on a house. These could put a high dent in your family finances. The solution to these increasing costs is to plan ahead. This will ensure that in future you do not have to borrow at high interest rates or re-mortgage your home.
Acorn Life's Savings Plan
Acorn Life's Savings Plan offers you the opportunity to put money away for your child's education or a long held dream. When it comes to saving, feeling comfortable about what you invest your money in is important. Many regular savers like the security that a deposit account can give but feel the interest they receive is insignificant after inflation. Others turn to the stock market for a better return but this does not appeal to everyone because of the volatility associated with equities.
Acorn Life offers you a wise choice - the best of both worlds. You can choose from a variety of funds offering exposure to a range of asset classes and thus varying degrees of risk and return. The minimum recommended term of investment is at least ten years.
How Does the Bonus Work
How about a helping hand to get your savings started? The Acorn Life Savings Plan adds a bonus of up to €5,000 to your policy in the 6th month.
|€65 to €124.99||€250|
|€125 to €249.99||€1,000|
|€250 to €500||Monthly Premium x 10|
Premium Payment and Encashment
The Savings Plan is designed for level premiums to be paid for at least 10 years. If you stop paying premiums or encash any of your policy value within the first ten years you will lose the entire value of the bonus allocation. Any encashments within the first six years will also incur an additional surrender penalty (ranging from 100% in year one to 10% in year six) that is applied to the encashment amount after the bonus cancellation.
Why Save With Acorn Life
Acorn Life is a 100% Irish owned Life Assurance Company providing protection, pensions, savings and investments to the Irish public. Established in 1989, Acorn Life is the first financial services provider in Ireland to be accredited with the Guaranteed Irish symbol – Ireland’s most trusted and recognised symbol for quality Irish goods and services. The Acorn Life Savings Plan offers you affordable, competitive savings with the minimum of fuss:
- Your Savings Plan will benefit from an innovative bonus.
- Your funds will be expertly managed by HSBC Global Asset Management (UK) Limited (regulated by the Financial Conduct Authority).
- Acorn Life aims to build long-term relationships with you that enable you to benefit from our expertise and local presence.
- We communicate regularly with you and provide you with information on all aspects of your business with us through our national network of branch offices and personal financial advisors.
Acorn Life Savings Plan Illustration
You would be surprised at how much savings you can build up over time by saving a regular amount. Looking at the illustration below for the Acorn Life Savings Plan, you can see that it is possible to build up a substantial fund over time with a monthly premium of €125.
Source: Acorn Life. Projected investment values assume a 5.8% gross investment return reflecting investment in equity based funds, a premium of €125 per month and a bonus of €1,000 allocated after a 5% Bid/Offer charge along with a 1.75% annual fund management charge. Values shown allow for the deduction of Exit tax (currently 41% as at Jan 2014) and the deduction of the Government Insurance Levy (currently 1% as at Jan 2014) from the premiums payable.
Warning: These figures are estimates only. they are not a reliable guide to the future performance of your investment.
Warning: The value of your investment may go down as well as up.
If you would like to know more about Acorn Life's Savings Plan click here. Definitive terms are provided in the relevant policy provisions. Please contact your local Acorn Life branch for further information.
5 Good Reasons for taking out an Acorn Life Savings Plan
Unlimited Growth Potential
Your fund will be expertly managed by HSBC Global Asset Management (UK), the global fund management division of HSBC Holdings plc, one of the largest financial organisations in the world.
Spread of Investments. Acorn Life Managed and Managed Growth Funds give a wide spread across world markets.
Regular Valuations. Unlike other forms of investments, values on your investment are immediately available on request.
An interesting alternative. Low interest rates means that even larger amounts earn little interest. This plan offers you an alternative for your money over the next 10 to 20 years.