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Advantages of Future Savings

100% guaranteed returns at maturity for each contribution

Should you no longer be around, we’ll take care of the outstanding premiums until the expiry of the insurance**

Your savings, available if you need them, will recover the market value of the investments.

You’ll only have to pay tax when you make a redemption or at maturity

One month before maturity, you can redeem your guaranteed accumulated capital balance

BanSabadell Vida will donate 0.7% of profits from this product to Manos Unidas

Product taxation

In the event of redemption

If you redeem your Future Savings Plan, returns will be taxed as investment income on your personal income taxes. The tax rate to be applied to the savings tax base is 19% for the first €6,000, 21% for up to €50,000, 23% for up to €200,000 and 25% from €200,000.01 onwards. Interest is subject to a 19% withholding upon payment. 

In the event of death

The capital sum paid to the beneficiary will be subject to inheritance and gift tax (ISD), with the application of a 100% reduction in the taxable base on the amount received up to €9,195. Some autonomous communities have higher maximum amounts, as shown below: 

  • €25,000 in Catalonia 
  • €500,000 in Aragon
  • €23,150 in the Canary Islands 
  • €250,000 in Navarra
  • €12,000 in Balearic Islands 
  • €50,000 in Cantabria
  • €400,000 in the Basque Country
  • €9,200 in Madrid

In the event of expiry of the contract

Upon expiry of the contract, the capital sum will be paid to the beneficiaries, subject to taxation for gift tax. You can redeem this sum prior to maturity, should you choose to, or in the event that personal income taxation proves to be more favourable than inheritance taxation in your autonomous community.  

Risk level

This is indicative of the plan’s risk and is calculated on the basis of historical data, which may not be a reliable indication of the plan’s future risk profile. Furthermore, there is no guarantee that the category indicated will remain as it is, as it may change over time

RISK INDICATOR AND LIQUIDITY ALERTS
Lower potential returns LOWER RISK
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Higher potential returns HIGHER RISK
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FAQ

Have any other questions?

What happens on the maturity date of my Future Savings contract?

BanSabadell will pay the accumulated sum to the selected beneficiary after payment of the appropriate gift tax is made.

If I don’t want my beneficiary to eventually receive the capital sum from my Future Savings plan, can I get it back?

Yes, it’s possible to redeem the accumulated capital. If it’s in the month prior to maturity, you can recover the accumulated capital guaranteed up to that date. If this happens earlier, you can recover the market value of the accumulated capital.

Can I make extraordinary contributions to my Future Savings plan whenever I want?

Yes, you can make extraordinary contributions at any time. Each contribution will be invested until the contract’s specified maturity date and at the guaranteed interest rate prevailing at the time of the contribution for the remaining investment term.

Thinking of saving for your retirement with tax advantages?

We have a wide range of pension plans and insured pension plans, and we’ll help you choose the best one for you. Learn more
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*The additional capital sum will be a maximum of €12,000 (€600 for insured individuals over 65 years of age or with aggravated risk). 

**Future periodic contributions shall be covered in the event of death except in the case of contracts in which the insured’s age plus the term of the contract is equal to or greater than 65 years, or except in the event of non-compliance with the initially established contribution plan. In such cases, the beneficiary would receive at maturity the capital accumulated as it was on the date of death plus an additional capital sum of 10%, with a limit of €12,000 (€600 for insured individuals over 65 years of age or who present aggravated risk).  

 

*Covers and services subject to the policy’s terms, conditions, limitations and exclusions as set out in the terms and conditions and schedule.

Future Savings is a product that can only be taken out by residents of Spain. Future Savings is a life insurance policy of BanSabadell Vida, S.A. de Seguros y Reaseguros, holder of Tax ID No. A08371908, and with registered office at Calle Isabel Colbrand, 22, 28050 Madrid. Registered in the Madrid Companies Register and in the Insurance Entities Register of the Directorate-General of Insurance and Pension Funds (DGSFP) under code C-0557.

Insurance brokered by BanSabadell Mediación, Operador de Banca-Seguros Vinculado del Grupo Banco Sabadell, S.A., holder of Tax ID No. A-03424223, with registered office at Av. Óscar Esplá, 37, 03007 Alicante. Registered in the Alicante Companies Register and in the Administrative Register of Insurance and Reinsurance Distributors of the Directorate-General of Insurance and Pension Funds (DGSFP) under code OV-0004, having taken out a liability insurance policy pursuant to prevailing regulations on private insurance and reinsurance distribution.