SAVINGS AND INVESTMENT

Have you planned your finances to achieve a specific medium or long-term goal? Are you up to date with current schemes and tax incentives that you could benefit from when you decide to save? Have you ever considered what your retirement will look like?

These are probably questions that you haven’t considered discussing with your insurance broker. However, the insurance sector offers different solutions that can help you achieve your savings and investment goals..

At different points in life our needs and priorities change. At Mercury Insurance Brokers we can help you to organise and plan your finances according to your specific needs, both professionally as well as personally.

Some of the tools available to help you pursue these goals are:

Savings Insurance

Through monthly contributions you can start to accumulate a small amount of capital that you can use as a contingency fund. Among the different types of savings plans available in Spain are PIAS (individual savings plans) and SIALP (individual long-term savings plans). Most of these savings plans are configured through the Unit Linked Insurance Plan (ULIP) format, which means that they invest in various portfolios of funds depending on the profile of the saver. You can also choose, if you already have an amount saved, to invest it in Unit Linked insurance as a single premium.

Pension Plans

It is common practice in Spain to save for retirement. The big advantage of this type of savings plan used to be taxation, but with the latest legal changes they are not so attractive. A variety of pension plans do exist, however, with different investment policies (fixed income, variable income etc) for each type of investor. If you already have a pension plan, we can find a way for you to obtain a higher return and we will advise on whether or not it is a worthwhile investment plan for you.

Company Insurance and Savings Plans

These are life insurance – shared savings plans for companies. They are very similar to pension plans and, like a pension plan, are linked to retirement. With this type of product, the policyholder is the company, which holds the agreement with its employees, who are the insured. Contingencies that can be covered include: retirement, death, permanent disability, severe dependency and high dependency. The extent of coverage will depend on what is agreed in the policy that regulates pension commitments. A plan like this holds attractive tax incentives for both company and employee contributions.

Workplace Pension Plans

Los planes de pensiones de empleo son instrumentos de ahorro-previsión a largo plazo que promueven las empresas o instituciones para sus trabajadores, con el objetivo de complementar la pensión pública de jubilación a percibir por la Seguridad Social. Los planes de pensiones de empleo están adscritos a un fondo de pensiones, al igual que los PPI, a través del cual se canalizan las inversiones para cumplir con el objetivo del plan. El fondo de pensiones lo gestiona una entidad gestora, que está supervisada por la Dirección General de Seguros y Fondos de Pensiones, dependiente del Ministerio de Economía.