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Category:
Insurance
News /
Life Insurance /
Sanlam
/ August 2006
Sanlam
launches innovative savings plan
Sanlam has just launched an innovative savings plan that allows you
to invest in the stock market at affordable rates and ensures that
your money is safe.
 According
to Anton Gildenhuys, Chief
Executive : SPF Strategic Business
Development at Sanlam, the Sanlam Topaz Personal Investment Plan is
unique in that it offers the benefits of a linked investment plan
for as little as R150 a month, no obligatory lump sums, and a term
of investment that suits you.
“The plan invests in funds that are managed by unit trust companies.
The good news is, therefore, that you can get your financial adviser
to choose up to ten investment funds for you – based on your risk
profile and your needs. Your monthly payment is then used to buy
units in the selected funds.
“More good news is that you are able to switch between investment
funds, and that you will not be charged any administration fees for
the first two switches in a plan year,” says Anton.
The
Topaz Personal Investment Plan offers two investment plans, namely
the Committed Plan and the Flexible Plan. With the Committed Plan
you choose the initial investment term. The minimum term is five
years and the maximum 10 years. However, after expiry of the initial
term, you can still select to carry on with your investment. With
the Flexible Plan you don’t have to choose an initial term – you
invest for as long as you want.
What
about tax?
According to Anton, the way the Topaz Personal Investment Plan is
taxed is one of its biggest advantages. Proceeds are taxable in your
hands, as opposed to similar plans where the investment fund itself
is taxed.
This means you will be taxed each year on the proceeds, according to
your own personal tax rates.
“Depending on your own tax situation, this may provide you with a
better return after tax. You therefore benefit from a plan that is
tailored to your individual situation.”
Call Sanlam on 0860 SANLAM (0860 726 526) to participate in the
plan, or speak to your Sanlam adviser or broker.
For
more information visit
www.sanlam-topaz.co.za.
Source: ITInews – Insurance
Times and Investments Online
www.itinews.co.za
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