Vers l’Avenir, a comprehensive and original new savings scheme for the under-18s

Crédit Agricole is pleased to announce Vers l’Avenir, a new savings contract for the under-18s. Launched on 6 November 2008, the new product from Crédit Agricole Assurances gives parents and grandparents a chance to build up a nest-egg for their children or grandchildren. Until 31 December 2009, the euro denominated fund carries a special interest rate of 4.5 per cent.

The scheme works as follows:

• Parents or grandparents pay into a life insurance contract taken out in the name of the child or grandchild.

They have a choice between two safe and simple investment vehicles, Avenir Sécurité (100 per cent euro denominated) for maximum security, or Avenir Guidé (75 per cent euro and 25 per cent socially responsible investments) for a more dynamic approach. When the child reaches 18, he or she can also opt for a third investment vehicle, Avenir Majeur.

For a minimum 20 euros per month, Vers l’Avenir offers a flexible management approach plus the combined tax advantages of a life insurance product with gift status (which does not have to be declared and is not liable to tax).

• A death and disability guarantee backed by the life insurance contract to which the parents or grandparents have subscribed, which, in the event of their death, guarantees a lump sum for the child when he or she reaches 18.

This new product for the under-18s rounds out the Crédit Agricole Assurances life insurance range. It is also key for Crédit Agricole, which aims to provide insurance covers to one young customer in three by 2014.

From 24 November 2008 to 10 January 2009, Vers l’Avenir will be promoted in Crédit Agricole’s national “Comptes de Noël” (Christmas Tales) campaign and from 3 January 2009, it will be included in another nationwide Crédit Agricole advertising drive on the theme of savings.