Questions and Answers.

Here are some of the Frequently Asked Questions
  • Who may be covered by the policy?

    The policy can cover any individual subject to age limits. The person who is covered by the policy is known as the Insured Person. You may buy the policy and also be the Insured Person. Subject to certain conditions, and provided that they have
    given consent, you may also make someone else the Insured Person. The Policyholder (the person who contracts with Old Mutual and is responsible for paying the Premiums) and any Insured Person must be at least 18 years old. The maximum entry age of the Insured Person for the Plan is 67 years old and will end when the Insured Person reaches the age of 70.

  • Is this Plan for me?

    This Plan is designed for customers who are able to commit to save between 5 000 and 100 000 per month for at least 5 years, but also require access to some money during this time.

    The Plan is not suitable for customers who want to save for:
    • periods shorter than 5 years; or
    • the long term (longer than 10 years) without wanting access to savings in the short term.

  • How are my monthly premiums split?

    You can choose your total monthly premium between 5 000 and 100 000. Your total monthly premium is automatically split between the two pockets.

  • What are the benefits of this Plan?

    Long Term Pocket
    The main benefit is the accumulated value of your savings, upon death of the policyholder or at the end of the Term of the Plan.
    The accumulated value in your Long Term Pocket is:
    • the premiums paid into the Long Term Pocket,
    • plus investment returns
    • less part withdrawals and
    • less charges, where applicable.

    Short Term Pocket
    The main benefit is the accumulated value of your savings upon death of the policyholder or at the end of the Term of the Plan or at any time it is needed.

    The accumulated value in your Short Term Pocket is:
    • the premiums paid into the Short Term Pocket,
    • plus investment returns
    • less part withdrawals and
    • less charges, where applicable.

  • When are my premiums due?

    The monthly premium is due on the first day of each month. The first premium due is as indicated in the Policy Commencement Certificate, and will coincide with the Policy Start Date if this is on the first of the month; if not, the first premium due will be the 1st of the month following the Policy Start Date. You will pay your monthly premiums in the way indicated on the Application Form or any other payment method we may allow including direct debit or electronic funds transfer.
    Premiums received before the due date are held in a suspense account until the premium charges (where applicable) are deducted and the net premium is invested on the due date or first business day thereafter.

  • What is the Policy Start Date?

    The date on which we receive your first premium and accepted your application.

FAQS