Reassurance and peace of mind for those nearing, or already in retirement

We all have the same basic wants and concerns when it comes to retirement:

• Certainty around the amount we’ll receive each month;
• Peace of mind that we’ll maintain our buying power or that our income will increase in line with inflation, and
• Knowing that our loved ones will be taken care of when we’re no longer around.

In the current environment, the first two – income certainty and maintaining buying power – should be the primary focus of most retirees, but we understand that for many, leaving a legacy is just as important.

The Sanlam Income with Capital Preservation Plan is the ideal consideration for those approaching retirement, and who are seeking a guaranteed income for life, along with the ability to still leave a lump sum for their beneficiaries. The income is provided from a life annuity underwritten by Sanlam Life and the death benefit is provided by an added life cover policy. You can decide on the value of the death benefit at inception of the solution – and this can be any amount ranging from the minimum of R20 000 to the maximum of the value of your initial investment amount. No medical underwriting is required when you take out the solution.

Income payable
You can select to increase your income each year by up to a maximum of 7%, or you can select that your annual income adjusts in line with inflation. You’ll be taxed on this income at your marginal tax rate.

Your starting income amount will depend on a few factors, including:

• The prevailing interest rate when we receive your capital amount;
• Your age and gender (and also the age and gender of the second life insured);
• The percentage annual income increase you select; and
• The amount of life cover you select.

This income is paid monthly until the death of the last life insured. The Sanlam Income with Capital Preservation Plan allows for two lives to be insured, and a guaranteed income will be paid for the lifetimes of these two people, as well as the life cover proceeds that will be paid to the nominated beneficiaries on the death of the last life insured. If no beneficiaries have been selected, the life cover proceeds will be paid into your estate.

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Glacier Financial Solutions (Pty) Ltd and Sanlam Life Insurance Ltd are licensed financial services providers