The Junior Savings plan is perfect for building a sum of money for your children or grandchildren to give them the best possible start in life. Money, for example, that can fund their education, pay for a wedding, a deposit on a house or anything they wish for when they grow up.
The Junior Savings is a regular savings plan which gives you the flexibility to choose how much you want to save and for how long. Premiums start from as little as €40 per month and you can add one off capital injections to boost the value of your savings.
In addition to savings, the policy also includes:
- Free life cover of €3,500 on the life insured
- Free Critical Illness benefit of €15,000 on the life of the child
What type of saver are you? Are you prepared to take more risk for a potentially higher return or are you after a less risk but a more steady return?
We categorise our funds into three types: Cautious, Balanced and Growth.
The Cautious fund options offer lower risk and potentially lower reward whereas the Growth fund options offer higher risk and potentially higher reward. The Balanced fund sits between the Cautious and Growth funds in terms of risk and potential reward.
You may choose between the With Profits Fund or the Unit Linked Funds:
With Profits Fund
The objective of the With Profits Fund is to earn you a return in excess of the return you would expect from regular savings into a bank account. Consequently your capital grows through the distribution of a declared annual bonus. Once a bonus is distributed, it is guaranteed. Upon maturity and regardless of the performance of the fund which is not guaranteed, as a minimum, you will receive the amount of regular premium invested less any policy charges and withdrawals.
The With Profits Fund is the life fund of Citadel Insurance plc and aims to deliver a smoothed return over the longer term, which would be considered lower risk.
For more information refer to the Junior Savings With Profits Key Information Document.
Unit Linked Funds
The Unit Linked Funds invest in risk graded funds managed by professional investment managers.
Each risk grading has its own risk and reward profile offering a wide range of choices. You can switch between the Unit Linked Funds anytime throughout the policy period.
Each fund holds a different range and type of assets and the value of the fund can fluctuate on a daily basis. A fund with a higher risk profile is more likely to have frequent and larger fluctuations.
Fund performance is not guaranteed and fund values can rise as well as fall. Based on the performance of the fund you may not get back the sum you have invested. Past performance of the funds is not necessarily a guide to future performance.
For more information refer to the Junior Savings Unit Linked Key Information Document.
Additional Life Insurance
Offers payment of an additional death benefit to the beneficiary where death of the life insured occurs.
Accidental Death and Dismemberment Benefit
Offers payment of an additional benefit to the beneficiary if death or dismemberment of the life insured occurs and results from bodily injury caused solely and directly by accidental, violent, external and visible means.
Permanent Total Disability Benefit
Offers payment of an additional benefit if as a result of an injury or disease which renders the life insured totally disabled for a continuous period of six months from performing his/her usual occupation or any occupation corresponding to his/her knowledge, education and social standing.