Savings At Acorn Life

We all have things for which we want to save. Most of us put away a few euro every month into our bank or building society account to save for our next holiday or to build up some savings for the unexpected. Deposit accounts are generally good for short-term saving needs, but these accounts offer unattractive growth potential.

There are also very good reasons for saving long term, including saving for a long held dream, a child's education or a down-payment on a house. These could put a high dent in your family finances. The solution to these increasing costs is to plan ahead. This will ensure that in future you do not have to borrow at high interest rates or re-mortgage your home.

Acorn Life's Savings Plan

Acorn Life's Savings Plan offers you the opportunity to put money away for your child's education or a long held dream. Acorn Life's Savings Plan is a unit-linked plan and is primarily designed to enable you to build up a substantial sum of money in the future. Not only that, but we have designed the plan to change as your needs change so that you can alter your savings arrangements at every stage of your life


Warning: Past performance is not a reliable guide to future performance.
Warning: The value of your investment may go down as well as up.
Warning: If you invest in this product you may lose some or all of the money you invest.
Warning: This product may be affected by changes in currency exchange rates.
Warning: These figures are estimates only. They are not a reliable guide to the future performance of this investment.

If you would like to know more about Acorn Life's Savings Plan click here.

Your Questions Answered

Here you will find the information you need so that you can make your savings decisions with confidence.

What is a Unit Linked Fund?

Unit linked funds are investment vehicles that are available from life assurance companies and investment companies. Returns from unit linked funds will vary depending on the type of fund you choose, where the fund is investing and what type of things the fund invests in.


Acorn Life's Savings Plan offers a range of different funds to meet your investment needs and appetite for risk. Our funds are expertly managed on our behalf by international, well-established and professional fund managers. The factsheets for each of our investment funds provide details such as suitability, fund objective, asset allocations and risk levels. To view the factsheets please click here.

Why should I invest in a Unit Linked Fund?

You need money on deposit in a bank for emergencies; however, you are unlikely to earn significant interest on a regular deposit account. For longer term savings, you may want to consider investing in assets that offer real growth potential such as stocks and shares. Investing your money sensibly for the long term can enable you to realise some of your dreams.

How does Acorn Life's Savings Plan Work?

Each month, or less regularly if you choose, you pay us the premium due under the policy. We invest the premium on your behalf in the fund of your choice.

The funds are typically invested in equities, unit trusts and Government bonds and are divided into a number of units of equal value, which are allocated to each policy. Each month some of the units are deducted from the fund to cover the cost of the company continuing to look after your policy. The remaining fund is there to provide cash benefits if you choose to surrender your policy in full or in part.

You can make lump sum extra payments into your policy if you wish. This will enhance your fund and provide a higher ultimate return in due course.

Are there any tax advantages to investing Acorn Life Savings Plan?

For policies taken out since 2001, Acorn Life's unit linked funds grow free of tax. Every eight years or upon surrender for cash, there may be a liability to tax. The tax payable is based on the amount by which the surrender value exceeds the premiums paid, allowing for any tax already paid on the policy.

The current tax rate applicable to such payments is 41% (as at July 2020).  However, this can be altered by the Government and thus it is the tax rate applying at the date of surrender which determines the tax which will be payable. If you are an Irish resident, we will deduct the tax and pay it to the Revenue. If you are not resident in Ireland, or are exempt from paying tax on life assurance policies, we will pay the full amount without deduction of tax if we have received the required Revenue declaration.

10 Good Reasons for taking out an Acorn Life Savings Plan
  1. Unlimited Growth Potential
  2. At Acorn Life we offer many different funds to meet your investment needs and appetite for risk. Our funds are expertly managed on our behalf by international, well-established and professional fund managers.
  3. Spread of Investments. Many of our funds provide access to a wide spread of different investments across world markets.
  4. You can make additional contributions to your fund
  5. You can transfer between funds.
  6. Inflation Protection. To keep ahead of inflation and to maintain their real value, premiums will increase each year by the rise in annual inflation or 5%, whichever is greater.
  7. Transparency and Flexibility. Charges are transparent, there is no time limit for your investment and gains can be taken out.
  8. Regular Valuations. Unlike other forms of investments, values on your investment are immediately available on request.
  9. You have flexibility in deciding when you want to encash your investment. We recommend that you take a minimum 10 year view of your investment. However, your investment is open-ended and can be encashed at any time.
  10. An interesting alternative. Low interest rates means that even larger amounts earn little interest. This plan offers you an alternative for your money over the next 10 to 20 years.

Important: Please note that the above are only brief summaries of the features of the Life Plan. The full terms and conditions are set out in the Life Plan Policy Provisions. If you withdraw from the policy in the early years the surrender value is likely to remain below the level of premiums paid into the policy.

For a summary of our Fees and Charges please click here.