Just Level Income
You get a level amount of income each month.
This product is designed for the few people whose expenses are relatively fixed in retirement, or who have another way of protecting themselves against inflation (for example, other forms of substantial savings).
Just Level Income allows for a high rate of income at the start of the annuity, but without an annual increase in place, inflation will erode the buying power of the income over time. At 6% inflation per annum, this means that your purchasing power will be halved over 12 years.
Product conditions and details
|Minimum entry age||50|
|Maximum entry age||85|
|Minimum purchase amount||R50 000|
|Optional product features|
|Spouse's income||25% to 100% of lifetime income|
|Minimum payment period||5, 10, 15 or 20 years paid as a lump sum or as a continuing income to your nominated beneficiary(ies)|
Please also read the Just Level Income key information document for more information.