JISA gives you the ability to save tax-free, with plans starting from £10 a month or a single lump sum of £100. You can save up to £9,000 in the current tax year and once opened, top ups can be made by anyone at any time within the annual limit.
 

JISAs were first introduced by the government in November 2011, as a way for parents or guardians to set up a long-term tax-free savings account for their child / children.

There are two types of JISA available, a stocks and shares JISA and a cash JISA. We offer a stocks and shares JISA in the form of a with-profits insurance policy, which is designed for the medium to long-term and matures on the child's 18th birthday. We refer to a JISA as an Investment JISA because of the way funds are invested (in a with-profits fund) - which includes property, bonds and fixed interest as well as the stock market. The fund is managed to provide a low-medium risk investment.
 

Any child under the age of 18 who is a UK resident can have a JISA opened for them by a parent or guardian. Children born between 1st September 2002 and 2nd January 2011 may have a Child Trust Fund (a long-term tax-free savings account for children set up by the government). A child cannot have both a Child Trust Fund (CTF) and a JISA, however a CTF can be transferred to a JISA.
 

Unsure if your child has a CTF? Visit the gov.uk website for further information.