Section 1 of the Long-term Insurance Act defines a 'sinking fund policy' as a policy, excluding a life policy, which provides one or more Ownership will only pass to the appointed beneficiary for ownership if the policyholder dies before the last life assured. What’s the benefit of a Unit Trust vs Endowment? ... With more than 200 offices throughout South Africa and both a Namibian and Mauritian presence, quality advice is on your doorstep. Endowment policies. Her business partner Ian Beere, CA(SA) CFP® was the Financial Planner of the Year in 2007. South Africans abroad can simply and easily surrender their endowment policies as long as they have not been ceded to a bank (in which case the ceding will require cancellation before funds can be released). Endowment Plans. BL PREMIUM. Our range of endowments Get to know our different endowment options. A common misconception is that an endowment is a type of investment. — in South Africa Debbie Netto-Jonker, CFP®, is founder of Netto Financial Services and was Financial Planner of the Year in 2001. An endowment is a type of investment policy issued by a Life Insurance Company, in this case OUTsurance Life. Income Plan Minimum investment: R2.5 million. SA loses crown as gateway to Africa . He has two offshore investments not in an endowment wrapper: One is in the UK and one in Jersey. How can E8 help? An endowment can invest in almost anything from listed shares to debentures, bonds or cash. A sinking fund policy has also been labelled as an endowment policy in the industry but it is, strictly speaking, a different type of policy. What it is: endowment policies are similar to life insurance but pay out a lump sum after a specific term or on death of the insured. Our Endowment Plans are medium-term investments that give you access to a wide range of funds, managed by leading fund managers. ... Let us look at an example where John dies in South Africa. By Andre Tuck, 4 July 2014. An endowment policy is a type of vehicle that is often misunderstood. Endowments, Used Smartly, Can Create Immense Value . If you are a higher income earner looking for an investment that will result in you paying less tax, while still following a growth investment strategy, and where maximum liquidity is not essential, then an endowment may just be the right investment option. The beneficiary for ownership has no right to the policy until the death of the policyholder. All endowments have a minimum investment period, known as a restriction period that is in place for a period of 5 years. An endowment plan is a life insurance policy that provides life coverage along with an opportunity to save regularly over a specific period of time so that they can receive a lump-sum amount on the maturity of the policy. 3 | ENDOWMENT TERMS AND CONDITIONS If there are two policyholders, each policyholder must appoint the other as their beneficiary for ownership. “I have been investing on a monthly basis in an endowment policy with Liberty Life for the past five years. We can provide information on the process of cashing out an endowment policy. No easy way back for hotels . What you can do: FinGlobal can assist with cancellation of debit orders and surrender of these policies … These plans might suit you if you can keep your money invested for at least five years. Growth Endowment Minimum investments R2.5 - R5 million. 2 days ago. And we reward you the longer you stay invested, the more you invest and the healthier you become. Get the Endowment Key Information Document. Find an adviser or start trading by registering for our PSG Wealth trading and investment platform. We provide three growth options. A single premium growth policy providing a fixed, tax-efficient return for a period of five years.