Q. Can I switch out of any particular investment portfolio to another?
Yes, your Portfolio is flexible. You can choose to switch between investment portfolios at any point during the investment term.
Q. What are their notice periods for transactions?
There are different notice periods for transactions in each investment portfolio, ranging from 2 working days to a maximum of 60 working days.
Q. Is there a surrender charge?
There are currently no surrender charges levied by Hollard against the Private Wealth Portfolio.However we do reserve the right to apply a surrender charge to cover basic administration procedures in the future.
Q. What is the minimum investment for the Private Wealth Portfolio?
Q. Do the underlying investment portfolios have their own sub-minimum investment amounts?
Yes, they start from R100,000 and go up to R2 million.
Q. Will Hollard deal on any transaction?
Hollard deals on any transaction e.g. new investments, additional contributions, switches, surrenders and encashments, on the 1st working day of each month.
Q. Is it tax-efficient?
The Private Wealth Portfolio has been specifically designed as a tax-efficient investment vehicle for South African residents.
Q. Can I make additional contributions?
Yes, you can. The minimum additional contribution amount will be specified by your investment manager in the investment portfolio guidelines, but may not be less than R100,000. All additional contributions are subject to current legislation.
Q. What happens to the policy in the event of my death?
Your policy will pay a benefit equal to the policy value, in the case that you are both the applicant and the nominated life assured.
Should you have nominated someone other than yourself as the life assured, on your death the policy will continue to run until the death of the last life assured or until such time as the executor of your deceased estate elects to either surrender or encash the investment.
Q. Are loans permitted against the policy?
Loans are not available from Hollard Life on this policy.
Q. Are cessions permitted?
Yes, security and outright cessions are permitted.
Q. What are the tax implications for me within this investment?
The Private Wealth Portfolio has been specifically designed as a tax-efficient investment vehicle for South African residents. Whilst we are unable to give individual tax advice, and this should not be construed as such, based on the current legislation in South Africa, it is our interpretation that the following tax treatment is applicable:
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The value of the investment account is subject to taxation according to the ‘Four Funds’ tax approach applicable to South African Long-Term Insurers;
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The policy proceeds are paid out tax-free to the original policyholder.
Q. When are policy valuations issued?
We issue valuations monthly, 30-days in arrears. You can receive historic valuations on request.
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