Child - Tax Exempt Savings Plans
(Without Life Cover)


Many of your clients will want to start saving for the future of the children that they care for - whether it’s to pay towards university or even to go towards their first home. Our Tax Exempt Savings Plan is unique to friendly societies like ours and allows your clients to take advantage of an extra government tax break by saving on a regular basis. This version of the plan doesn’t include life cover.

Help with saving


With our Healthy Investment Tax Exempt Savings Plan your clients are committed to paying in the same amount every month - meaning that they can build the child’s savings gradually over time. They can invest anything from £10 up to a maximum of £25 a month - if they want to invest more, then our Standard Savings Plan might better suit them.

A guaranteed return


We’ll agree, when the policy starts, the absolute minimum the child will get when the plan matures (as long as they’ve kept up all of their contributions of course). We also give regular bonuses every year and add them to the value of the policy. These can never be taken away - and the child may also get a final bonus at the end of the plans term. The level of bonus added each year is not guaranteed and can change.

A tax exempt pay out


Only friendly societies are able to offer these kinds of plans thanks to a unique government tax break. When the policy matures none of the money the child receives will be taxed, and the fund that the money is invested in is also free of UK income and capital gains tax. Investing in a Healthy Investment Tax Exempt Savings Plan helps to minimise the amount of tax your client might have to pay - this extra tax free allowance is in addition to their ISA allowances and is available to every member of their family.

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Your clients can grow their funds gradually, safe in the knowledge that they won’t be paying a penny in tax on the money the plan has made.
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These kinds of Tax Exempt Savings Plans are hugely popular - they may remind your clients of the savings schemes they themselves had as a child.
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Your money will be invested in the Healthy Investment Ethical With-profits Fund which includes a mix of different assets - all actively managed to maximise the potential for growth while carefully managing any risk.

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Your clients can choose how long they want to save for - anything from 10 years to 25 years. Unlike Child Trust Funds and Junior ISAs that automatically pay out to the child at age 18, the contributor decides when the child receives the money - it can be at any age after their 16th birthday.


Important Points


Any UK resident up to the age of 65 can invest in a Healthy Investment Tax Exempt Savings Plan (without life cover).

You might consider this plan if the child already has savings in a bank or building society and are now looking to put some money in to an investment which has some risk but potentially higher returns and the proceeds of which are paid tax free.

Save from as little as £10 per month or a maximum of £25 per month (or £270 per year).

You can have the Tax Exempt Savings Plan (without life cover) mature on a specific date, or simply select a term between 10-25 years, providing it matures on or after the child’s 16th birthday.

Depending on the term you choose you should see this as a medium or long term investment.

Important Documents


 

Standard Savings Plan

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Tax Exempt Savings Plan - With Life Cover

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Recommending and submitting business to Healthy Investment is easy. There are a number of options and all of our products can facilitate the payment of your fees.

All of the financial advisers we work with have their own dedicated Healthy Investment Business Development Executive.