What is the
Savings benefit?
Savings benefit?
The optional Savings benefit works much like a
unit trust fund. You can select your own monthly savings amount,
and decide how long you would like to save for after a minimum period
of 5 years.
The premiums paid, less any applicable premium charges and management fees, are used to purchase units in the savings account.
Please note: The purchase of Fenomenal Woman life cover is a prerequisite for this benefit
Why you should consider this optional benefit
It can be really difficult to put money aside each month, as there are always a range of demands on our resources. But it’s absolutely vital for every Fenomenal Woman to have a savings fund, whether you plan to use this money for your children’s studies, for your own studies, for seeing yourself and your family through difficult times, for taking care of ageing parents, or even for a well-deserved overseas holiday.
Quick facts
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this is an optional benefit
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the minimum monthly savings amount is R50
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if you set your monthly savings at R200 or more, you can choose to invest in one of three Portfolios: Stable Fund, Managed Fund or Equity Fund – each with varying degrees of risk and return
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if your monthly savings amount is less than R200, your investment will be placed in the low-risk Stable Fund
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you can make one withdrawal during the first five years of your term of saving, and you have the option to withdraw your full savings at any point after five years
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no loans can be provided against the value of the savings fund
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the maximum term you can select is twenty years
-
the final payout will be paid to you at the end of the term or in the event of your death, whichever occurs first
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payouts will be subject to fluctuations in the value of the investment, and unfortunately no guarantees can be offered with regard to the the actual payout amount
How to claim
Contact us on 0800 252 467 and one of our consultants will advise you on the documentation that is required.
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