Hollard Guaranteed Income Plan
Hollard's Guaranteed Income Plan offers tax advantages and a five-year fixed monthly income.
Our Guaranteed Income Plan offers tax advantages and a five-year fixed monthly income investment.
Guaranteed Income is made up of two policies. An endowment policy provides a return of the premium after a five-year period and a temporary life annuity policy provides a five-year fixed monthly income.
This diagram illustrates how this is achieved:
These figures are for illustration purposes only
Minimum investment R100,000
*Please note that this annuity payment will cease after 60 months or on death of the life assured, whichever occurs first.
You might also be interested in:
Unit Trust Offering
Unit trusts allow you to grow your money but gives you the flexibility to access it at anytime.More Info
The Hollard Private Wealth Portfolio, helps you save towards your long term goals.More Info
Features and Benefits of our Guaranteed Income Plan
|Features and Benefits||Product Details|
|Tax Implications||This policy is governed by the Section 10A exemption of the Income Tax Act, which allows an exemption of the capital portion of a voluntary purchase annuity. Only the interest portion of the income payment is taxable.|
|Access to Capital||You can surrender your policy in full or in part from the endowment policy portion only. (Only one surrender is permitted.) A new policy value and related new maturity value will be calculated using market rates at the time. Please note: Surrender charges will apply on a time-based scale.|
|Other Product Features||
The Guaranteed Investment Rate applied to the investment is net of all fees. To view our rates click here.
|Policy Year||Surrender Charge|
Hollard Wealth Guaranteed Income Plan FAQs
Find out everything you need to know about the Guaranteed Income Plan.
If a surrender has been taken from the endowment policy, the death benefit will be the fair value of the policy.
On the death of the life assured, a death benefit will be paid out to the beneficiaries.
The fair value of the policy is of the value of the endowment plus the commuted value of the monthly annuity payments on the temporary life annuity.
This is calculated from the date of maturity to the date of claim, as signed for in the policy application form and policy quote.
Outright cession - Hollard Investments will record a cession of the policy on receiving a written request to do so, and will note the cession without expressing any opinion on its validity. Due to the nature of the temporary life annuity, Hollard Investments doesn’t permit cessions on the annuity portion of this investment.
Hollard Investments will pay the tax to the Receiver of Revenue and issue the policyholder with an IRP5 at the end of the tax year. If no tax has been deducted, Hollard Investments will issue an IT3A. You can also give us a tax directive.
Select and complete the form of your choice
- Select the relevant form from the list below.
- If you are completing an Investment Application form, please appoint a Financial Advisor. Applications for this investment will not be processed without a Financial Advisor being appointed. Your Financial Advisor will be required to request a valid quote from Hollard Investments for all new applications.
- Print and complete the form.
- Attached all required documentation, including FICA documentation (for new investment applications).
- E-mail or fax the completed form to email@example.com or +27 11 351 3816.
- Tel: 0860 202 202
- Email: firstname.lastname@example.org
- Fax: +27 11 351 3816
- For compliments and complaints, please fill in the form below.
Please fill out our simple form and we will contact you shortly.