Funeral preparations may amount to excessive unforeseen costs should a family member pass away. This benefit will pay out a specific amount of cover that will ensure funeral costs are paid for and alleviate the burden of the costs on loved ones during an already traumatic time.

Should an event arise where you become partially or permanently injured and/or disabled and are otherwise unable to work or earn an income, this type of cover pays  out a lumpsum that will assist you with costs associated with medical payments or debts, medical equipment specific to the support of your physical condition, basic living and day-to-day expenses you may struggle with.

Your single most important asset is your ability to earn a steady monthly income, especially if you are the breadwinner of your family. Income Protection is one of the most overlooked yet crucial insurance benefits today.

This benefit provides a steady monthly income (Tax-free) in the event where you become temporarily or permanently disabled and are unable to perform your occupation due to injuries or illness; to ensure that you and your family maintains a certain standard of living.

Studies show that people (even the healthiest of us) are more prone to being diagnosed with serious conditions, such as Cancer, now than ever before.

The severe illness insurance benefit will cover costs that Medical Aid or Gap Cover wont and pays out in circumstances where the policy holder falls victim to a serious illness or otherwise suffers a traumatic event and needs financial aid in order to cover ongoing related medical costs.

Every business will have highly skilled and valued members in which the success of the business is heavily dependent on. The loss of a key person will have a significant financial impact on the growth and sustainability of the business assets or capital value going forward, if insurance is not taken out on the life of the individual(s).

This type of cover will pay out the specified amount for the loss of life thereby compensating the business for the means to provide the required funds for the recruitment and training of a new key individual whilst, at the same time, protecting credit facilities.

This insurance policy will pay out an amount of cover equal to the loan amount on the life of the Director or employee who stands surety for the debts of the business.

A Contingent Liability policy can be taken out for various reasons:

• To secure an Overdraft
• To cover a personal guarantee
• To cover a shareholder’s loan account
• To cover a mortgage bond

If you are employed by a company, you may contribute to their Pension or Provident Funds (subject to company rules).

All employee contributions to the Pension and Provident Funds are tax deductible up to an amount equal to 27,5% of your gross remuneration or net income (whichever is greater), subject to an annual limit of R350,000.

Not every employer offers you a Pension or Provident Fund, or alternatively, you may be contributing to the company fund but feel that you are not maximising your tax-deductible contributions, if the above is the case – then speak to us about the suitability of a Retirement Annuity option for you.

The objective of an RA is to maximise your tax-deductible contributions, whilst minimising your potential tax liability, in the process.

Why an RA?

• One of the most comprehensive tax efficient investment vehicles
• Investors have the choice to either contribute monthly contributions or Lump sum investments
• The proceeds can only be accessed after the investor reaches the age of 55, which makes saving for retirement very effective
• RA’s are safeguarded for investors and/or beneficiaries of the fund via The Pension Funds Act
• On retirement you can only withdraw up to one-third of your RA as cash and the two-third portion must be transferred to a Retirement Income product – as advised by us

Pension Preservation & Provident Preservation Funds are created to preserve your Pension or Provident Fund benefits (from your employ) for retirement, by keeping the funds invested and protected in an appropriate tax-efficient investment.

Funds can be transferred to a Preservation fund in the event of dismissal, retrenchment or resignation.

This solution offers the benefit of beneficiary options and protection from estate creditors.

On Retirement, you, as the Investor has the choice to commute these retirement savings (subject to The Retirement Benefit Tax Tables) or transfer the savings to a Living Annuity and/or Life Annuities.

• Allows individuals to draw income, whilst at the same time allowing the capital value in the Unit Trust exposure to gain market-related growth
• Should your financial situation change, you are able to transfer the Living Annuity into a Guaranteed Annuity to receive a fixed Income annually
• Income drawdown flexibility within the prescribed drawdown limits of the annual capital value
• Limited to annual income review changes

Benefits:

• Flexibility
• Option to nominate beneficiaries to receive the full benefit on death
• Tax effective

• This solution will pay the annuitant a set amount of income until date of death. Once the annuitant passes away, the annuity and capital value will cease
• Provides the Annuitant with the option to increase the annuity by a fixed rate annually or have the annuity remain the same throughout his/her lifetime