BACK
Alpha Life Plan pension and children’s savings plan
Secure savings for the future
Alpha Bank SA, in addition to its status as a credit institution, also acts as an insurance intermediary. Find out more about Alpha Bank's intermediation (only in Greek).
Discover the features
What it offers
2 options for a guaranteed future
- For your golden years – Make regular savings and create an additional source of income for your pension years. Depending on your needs and wants, you choose when and how often you receive this income.
- For your children’s future – Build guaranteed capital to meet the future needs of your children, such as capital for their studies, the start of their career, etc. Alternatively, you secure supplementary income during their years of study.
Guaranteed capital at maturity
At the end of the plan, you receive the guaranteed amount:
- In one go.
- Every month for 5 or 10 years.
- As a lifelong monthly pension, if you opt for the pension plan.
Before issuing the policy, we give you a printout of our offer with the guaranteed capital at maturity and the guaranteed cash-out value for every insurance year.
Protection against inflation
You can choose 3% annual automatic indexation of the premium at the start of the savings plan. This way you:
- Protect your savings from inflation.
- Continuously and gradually increase your savings amount, to build a larger guaranteed capital in the future.
Protection for the beneficiaries
The beneficiaries receive the net amounts that have been paid, in the event of loss of life of the policyholder.
Full or partial early redemption
You can cash out early, in part or in full, as long as you:
- Are past the 1st insurance year.
- Have made all required payments over the 1st insurance year.
The cash-out value for every full insurance year is guaranteed and stated on your insurance policy.
You can cash out from €1,000 up to 50% of the current full cash-out value.
Continuous updates
You receive updates on your investment plan:
- Online, from your computer through myAlpha Web or your mobile through myAlpha Mobile.
- By post, at the end of each year from AlphaLife.
- At our branches, whenever you want.
What’s the premium and the term
Regular payments starting at €50 or €60
Adjust your savings according to your finances and personal planning. You can save:
- From €50 (if you choose 3% automatic annual indexation) or €60 to €250 a month
- Every month, 3 months, 6 months or year
You cannot:
- Make extra payments.
- Increase the premium amount.
No fee for annual premium
You don't pay any fees if you choose to pay your premium yearly.
There is a fee of:
- 0.50% for monthly payments
- 0.25% for payments every 3 or 6 months
For 12 to 30 years
The Alpha Life Plan savings plan has a long-term investment horizon.
You set a savings term between 12 and 30 years at the start of the plan. You cannot change the plan term afterwards.
Why it suits you
The Alpha Life Plan suits you if you:
- Have sufficient income, aside from the savings amount, to meet your day-to-day needs.
- Want to make regular savings on a long-term basis.
- Seek to build guaranteed capital for your golden years or your children’s future needs.
- Need flexibility in receiving the guaranteed capital at plan maturity.
Can I get the Alpha Life Plan?
Apply provided you...
- Are 18-80 years old, if you are the policyholder.
- Are 18-70 years old and up to 85 years old at maturity, if you are the insured.
- Hold an account with Alpha Bank, if you are the policyholder.
- Have booked an appointment at an Alpha Bank branch.
Have at hand...
The necessary supporting documents depending on whether you:
- Already bank with Alpha Bank and have updated your details.
- Want to start banking with us or haven’t updated your details.
Don’t hold an account with Alpha Bank?
Explore other options
Any questions?
Find the answers you need about the Alpha Life Plan savings plan.
What happens if I miss a payment for the Alpha Life Plan?
From the 2nd insurance year onwards, and provided you have paid the entire premium for the 1st insurance year, the plan is converted to a free payment plan. It continues to be active, but the guaranteed capital at maturity is reduced.
To resume the plan, you have to pay in full the premium you owe with interest.
What should I do at the end of the plan as the beneficiary?
Update online the details related to your:
- Identification – ID card or passport
- Tax residence – tax clearance certificate
If you are not the beneficiary, AlphaLife issues a certificate for the policy details and payment amount. You must submit at the branch:
- Inheritance, donation or parental gift tax return (as applicable) issued through the myPROPERTY app (Government Gazette A 1066/2023).
- Solemn declaration according to Article 8 of Law 1599/1986 through gov.gr or from a Citizen Service Centre (KEP) stating that the information arising from the inheritance, donation or parental gift tax return has not changed.
If the beneficiary is under-age, some additional forms may be required.
Book an appointment at one of our branches to apply and get the insurance policy amount.
What documents do I need to submit as a beneficiary in case of loss of life of the policyholder?
You must submit, as soon as possible, at the branch:
- Death certificate for the policyholder
- Proof of identity – ID card or passport
- Proof of tax residence – tax clearance certificate
- Birth certificate, only in the case of an under-age beneficiary
If you are the legal heir of the policyholder, you must also bring the certificates of:
- Family status
- Next of kin
- Non-publication of will