You can invest up to £15,240 in the 2016/17 tax year into an ISA if you have not already done so.
In an ISA fund, your money has the potential to grow in a tax-efficient environment. Although an ISA cannot be put into trust, you can still use the proceeds however you choose, and can therefore put them aside for the benefit of a child.
Under new rules you can split the ISA allowance as you wish between a Cash ISA and a Stocks & Shares ISA. The new flexibility also means that you can transfer from a Stocks & Shares ISA to a Cash ISA, and vice versa. Under previous rules you could only transfer from a Cash ISA to Stocks & Shares ISA.
You can contribute from £25 a month into an NFU Mutual ISA and can choose from a number of funds in the NFU Mutual Select ISA, or you can invest in the Shrewd Savings Plan ISA which is a with-profits ISA investment. NFU Mutual's ISAs are Stocks & Shares ISAs and are medium to long-term investments designed to be held for five years or more.
NFU Mutual does not currently provide a Junior ISA or Cash ISA investment product.