How to get more for your client without making more work for yourself

29 September 2016
The Just Retirement Enhanced With-Profit Annuity is available to all applicants, not only those who have health and lifestyle factors that would typically qualify them for an enhanced annuity. On request, Just Retirement issues a fully guaranteed quote without collating any health and lifestyle information. Should your client then elect to provide their health and lifestyle information during our 20-minute tele-underwriting call, the final outcome can only be to the client’s advantage, because the quote will not reduce – it will either stay the same or it will be higher.

We do all the work necessary to offer your client an enhanced income. The tele-underwriting call is undertaken by a fully trained underwriter, and the information your client supplies is carefully assessed with the view to offering them the highest starting annuity amount based on their specific circumstances. If your client qualifies for a higher amount, we will e-mail you the updated starting annuity amount. You won’t need to have any new documentation signed.
Meet Malcolm, age 63.
Six months ago Malcolm had a heart attack and needed a single stent inserted. Malcolm had purchased a living annuity when he retired at age 60, but because of his health scare, his adviser suggested he consider a guaranteed and enhanced income from a Just Retirement Enhanced With-Profit Annuity to give him the income security he needs to cover further medical expenses.

Malcolm had a fund credit of R625 000 to convert to a guaranteed annuity. He selected the following options:
  • Single Life
  • PRI of 2%
  • No guarantee period.
We issued a fully guaranteed quote of R3 935.09. Malcolm then opted to provide us with his health and lifestyle information. This resulted in a higher amount of R4 295.01 – an enhancement of 9,2%.

Should any of your clients currently in a living annuity wish to annuitise because of a health scare, concerns about running out of capital, or for any other reason, we will ensure that the process is as seamless as possible. Besides collating clients’ health and lifestyle information, we have master transfer agreements with all the major LISP providers and can provide the necessary annexure and policyholder’s consent form shortly after receiving notification of the transfer.

It’s International Day for Older Persons on 1 October. As we celebrate the role that senior citizens play in our society, wouldn’t it be nice to help your older clients get a little bit more in retirement and worry a little less?

Till next time.
Carlene
If you have any queries please email
Rethink Retirement