longevity
If you’re fit and healthy, you may want to remain in the family home for longer. You may also not feel ready to enter into a retirement home or village while you are still enjoying good health, which is understandable.
Legislation permits that the owner of a living annuity can draw down between 2.5% and 17.5% of the value of his living annuity every year, with the option to review the draw down rate at the living annuity’s anniversary. Investors
A significant advantage of a life annuity is that the policyholder is guaranteed an income for the rest of her life and will therefore never run out of money, regardless of what happens to investment markets or how long she
A typical life annuity policy terminates on the death of the policyholder which means that it is not necessary for any beneficiaries to be appointed. Conversely, all capital housed in a living annuity when the policyholder dies can be distributed
Many forward-thinking companies are experimenting with what is referred to as a phased or transitioned retirement. As opposed to a sudden departure at formal retirement age, companies are allowing older employees to slowly reduce their working hours and to transition
Legislation permits you to switch your living annuity to a life annuity, but not vice versa. This is because a life annuity is an insurance policy which is purchased with the capital in your investments, and therefore cannot be moved
When choosing a medical aid for your parents, give careful thought to their specific medical condition and their healthcare history, their financial position, the facilities that are close to them, and what cover would be most appropriate for their needs.
Many people shy away from investing because they believe it is akin to gambling and the risks are too high. There is a common misconception that, because investment markets are volatile by nature, investing in equities represents a higher risk
