By Linda Blom, 29 April 2022
Invest in the Sanlam Income with Capital Preservation Plan (SICP) and you’ll be meeting a bunch of your investment requirements, says Linda Blom, Business Development Manager at Glacier by Sanlam. She examines how this versatile solution adds value to your diversified investment portfolio.
The SICP guarantees a regular income for the rest of your life and a capital amount – chosen by you at death – to take care of your loved ones or create liquidity in your estate.
Your capital, a minimum of R20,000 (provided that this amount delivers a minimum initial pension of R100 per month), will purchase two life annuities. One of them will provide you with a regular, guaranteed gross income for the rest of your life and the second life annuity will pay for the premiums of your life cover policy, which will provide an amount selected by you for your loved ones or deceased estate when you pass away.
If you added your partner or spouse as a second life insured, the income will continue to be paid for their lifetime after your death. You will also have the option to reduce the income payment by a selected percentage upon the death of the first life insured.
To provide for your dependants after you pass away, or to create liquidity in your estate, you can choose any amount of life cover, from a minimum of R20,000 to a maximum of the value of your initial investment amount.
You can choose to let your income increase by a chosen percentage every year.
A life cover policy in the SICP will pay out the specified amount at your death and no executor’s fees are payable if this amount is paid to your chosen beneficiaries. Other benefits of this product are that there are no medical underwriting requirements and no review of the life policy premium.
Read our product information to learn more about the Sanlam Income with Capital Preservation Plan (Optional).