Individual Growth Services
The annuitant may draw an annual income between 2.5% and 17.5% of the anual capital value of the fund. The amount can be reviewed annually.
Can only be taken out after age 55 and ceases once the funds are depleted.
The frequency of the payment and the percentage can be changed annually only on anniversary date.
A beneficiary can be nominated and the balance of the funds paid out. The tax is claimed back from the beneficiary.
Can be transferred from one insurer to another at the request of the client.
The living annuity may be converted to a conventional life annuity. This is a once off option.