R20 000 lump sum

For the rest of your life.

• Your income is guaranteed for life
• If you have dependents and want to make sure they are provided for should you pass away, you can choose a second life insured, to whom the income will continue to be paid for the rest of their life. Upon the death of the life insured, a lump sum will be paid to your beneficiaries from the life cover policy. The amount of life cover is chosen by you, before inception of the policy
• You can choose to increase your income by a certain percentage every year to protect your income against inflation.

A once-off payment is transferred from your pension, preservation, provident or living annuity fund.

Your retirement capital will purchase two life annuities. One of the life annuities (the income annuity) will provide you with a monthly income for the rest of your life. The second life annuity (the premium annuity) will fund the premiums of your life cover policy, which will provide an amount selected by you for your loved ones at your death.

The amount of income you receive depends on the following factors at the start date of the life annuity:

• prevailing interest rates when the capital amount is received;
• your age and gender, and that of the second life insured, where applicable;
• the percentage annual income growth you have chosen; and
• the amount of life cover you have chosen.

The income paid from both life annuities (both the income annuity and the premium annuity) is taxable as gross income in the hands of the annuitant. We will deduct income tax and pay it over to the South African Revenue Service on your behalf.

Fees vary per product and your underlying investment. Please speak to your financial intermediary to make sure that you pay the correct fees and that you understand which fees you pay and why.