With control over the underlying investments and the income you draw, you can manage your retirement savings to get a sustainable income that will suit your needs.
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This policy is underwritten by Sanlam Life Insurance Ltd, a Licensed Financial Services Provider.
R100 000 lump sum
R15 000 per additional contribution from an approved retirement fund
For life, or until you transfer your investment to another company’s conventional or living annuity.
You can move your investment at any time to Glacier's or another company’s conventional or living annuity without any penalties.
You have total freedom to change your underlying investments. There is no charge to make a change, but depending on where you move your money to, initial investment charges may apply.
Access to the widest choice of investments:
You should consider the following factors that impact the income you receive from an ILLA:
Your dependants may benefit from the money from your living annuity after you are gone. They have the option to either continue with the annuity or to take the full amount in cash (subject to tax).
Your income is still payable into a South African bank account. However, if the value of your living annuity drops below R50 000, you may withdraw your money as a taxable lump sum.
What is taxable?
There is tax on the income you receive (taxed at individual tax rates).
Fees vary per product and your underlying investment. Please speak to your financial planner to make sure you understand which fees you pay and why.
It is important to bear in mind that any investment has some risk. We therefore recommend that you consult a financial planner who can help you find the most appropriate products for your needs and circumstances.