Income for Life

This solution can be purchased with the proceeds of retirement funds or from capital sourced from non-retirement funding investments/savings. It offers you a guaranteed income for life. Minimum investment amount is a lump sum of R10 000 if the source is from non-retirement funding investments/savings or R15 000 if purchased with proceeds from retirement funds.

You can choose to receive your income:

  • Annually.
  • Bi-annually.
  • Quarterly.
  • Monthly.

Income Options

  • Level Payments - You will receive the same amount at every payment date.
  • Fixed Escalating Income Payments - Your payments increase annually by a predetermined amount. This can vary from between 1% - 8%.
  • Inflation-linked Income Payments - Your income payments increase annually in line with inflation.
  • Bonus Escalating Payments - This is only available if the capital is sourced from a retirement fund. Your payments increase annually with a bonus declared by Old Mutual based on the smoothed performance of a balanced portfolio of assets. This option is only available if your proceeds are from retirement funds.
  • Other Guaranteed Options - You specify a term for guaranteed payments from 0 -25 years.
  • Joint Life - This option allows a second life covered (usually your spouse) to continue receiving income payments after your death for as long as they live.