As the MAPFRE experts warn, if savings are left immobilized, we will not obtain any return. Our savings will decrease and our purchasing power will deteriorate at the rate of inflation. That is, about 7%.
The loss of value of the billion euros saved by Spanish families during the pandemic is occurring gradually, as inflation eats away at these savings. We can see how the immobilization of all this balance can mean a loss of 20% in 3 years and 50% in 9 years, if inflation remains at its current level. That is why it is important for citizens to know their options and that is why MAPFRE’s experts propose:
1. Having a professional financial advisor who can determine which products are best suited to the client’s needs. In this sense, the long experience that MAPFRE insurance company has in advising families on their current and future financial assets can help to make saving an attitude towards life.
2. Saving regularly: to implement savings habits in families, offering them flexibility and reducing the risk of variation.
3. Start saving as soon as possible. The longer we wait to start saving, the more money we will have to make up for the time we have lost.
4. Diversify savings and observe which product/s are the best. Again it is good to have that financial advisor.
Multiple savings solutions.
There are a multitude of tools on the market, beyond bank accounts or deposits, that allow us to make our money profitable. Precisely, MAPFRE has a wide range of savings and investment products that adapt to the different needs of customers. From the Horizonte Inversión Program, a savings insurance with active management at no cost to the client, to individual systematic savings plans (PIAS) that adapt to the risk profile of each person and can enjoy tax advantages and allow for continuous savings. In addition, the insurer has recently launched SIALP Garantía 5.
What is a SIALP? Get to know its advantages
It is an individual long-term savings insurance. A formula perhaps unknown to some, but of special interest to those who seek to ensure a return on their savings, without running risks. MAPFRE has recently launched SIALP Guarantee 5, a 5-year savings insurance policy, with annual periodic payments with a fundamental advantage: tax exemption at maturity on all returns generated.. It is a product with a 100% guarantee, which is above the 85% minimum required for SIALP products, and a guaranteed return of more than 1% for contributions made over 5 years.
Thus, SIALP Guarantee 5 offers a fixed return with the added bonus of being exempt from taxation at maturity on the returns generated provided that the savings are held for a minimum of 5 years or a maximum annual contribution of 5,000 euros is made. In addition, there is the possibility of redeeming it in its entirety only one year after it is contracted, although in this case the tax exemption would be lost. This product joins the wide variety of solutions offered by the insurer, adapted to the objectives and needs of each individual.
MAPFRE has developed an online savings simulator that allows users to create a personalized savings plan that fits their priorities and financial situation. The tool, which is now available on its website and in its branches, teaches customers how to make the most of their money from €1 a day. The simulator offers different savings and investment solutions based on users’ savings goals, their financial situation, their age and the amount they are willing to invest.
This simulator is available on the MAPFRE website.