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Moonstone Information Refinery (Pty) Ltd
Investment Rates

Updated: 02-July-2018Valid until: 06-July-2018

This information is supplied as part of our commitment to support and strengthen independent financial advisors. The information contained below is part of our growing product research offering.

In order to understand the difference between guaranteed (G) and linked (L) rates, kindly click here for a detailed explanation.


Secured Investment Rates

(Commission at 3% plus VAT - 3.42)
Comparison of secured investment rates (Investment for five year period)
InstitutionNature of Security CAR RatioNotesSecured Return**% Return on investment**Secured Return***% Return on investment***
Clientele life*L  8R 141 769.087.230%R 1 423 650.297.320%
1 LifeL  8R 141 769.007.230%R 1 417 691.007.230%
AbsaL  8R 141 081.057.126%R 1 410 810.457.126%
Discovery*G 3.58R 140 178.496.988%R 1 438 323.727.540%
AssupolG 2.358 ; 11R 139 079.426.820%R 1 419 675.097.260%
Old Mutual Wealth L  8 ; 13R 136 641.156.330%R 1 412 901.727.030%
Clientele life*G 2.438 R 135 790.886.310%R 1 403 207.257.010%
MomentumG 2.78R 135 676.006.290%R 1 405 897.007.050%
NEDgroup LIFE*L  8R 132 661.475.815%R 1 368 888.086.481%
Liberty Life

G

3.1

8- - R 1 373 514.00 6.550%



(Commission at 1.5% plus VAT - 1.71)
Comparison of secured investment rates (Investment for five year period)
InstitutionNature of Security CAR RatioNotesSecured Return**% Return on investment**Secured Return***% Return on investment***
1 LifeL  8R 144 366.007.620%R 1 443 660.007.620%
Clientele life*L  8 R 143 897.117.550%R 1 445 001.997.640%
Discovery*G 3.58R 142 828.247.390%R 1 464 821.217.934%
AssupolG 2.358 ; 11R 141 043.427.120%R 1 439 640.217.560%
Old Mutual* WealthL  8 ; 13R 139 118.936.710%R 1 438 229.237.410%
MomentumG 2.78R 138 720.006.760%R 1 436 335.007.510%
Clientele life*G 2.438R 137 846.916.630%R 1 424 313.687.330%
Liberty Life

G

3.1

8- - R 1 397 482.00 6.920%


  1. A linked policy is defined in the long term Insurance Act of 1998 as: "...a long-term policy of which the amount of the policy benefit is not guaranteed by the long-term insurer and is to be determined solely by reference to the value of particular assets or categories of assets which are specified in the policy and are actually held by or on behalf of the insurer specifically for the purposes of the policy."
  2. A company's Capital Adequacy Ratio (CAR) is the actuarially determined excess of assets over liabilities. The CAR provides a buffer against experience worse than that assumed in the financial soundness valuation.
  3. * Capital Gains Tax has been taken in account on the quoted rates of return at the current tax rates for individuals. However if the tax rate for CGT changes the additional tax will be recovered from the returns of the investment (contact institution for details)
  4. ** Initial investment is R 100,000.
  5. *** Initial investment is R 1 million.
  6. Funds received before or on the 15th of a month will have an entry date of the first of that month. Funds received after this will have an entry date of the first of the following month. The impact on the values quoted on these pages should be born in mind when comparing data.
  7. VAT on commission has been taken in account for Old Mutual Wealth ,Discovery,,ABSA,Sanlam,Clientèle Life,Liberty Life,and Momentum.
  8. Capital Gains Tax has been taken in account on the quoted rates of return at the current tax rates for individuals. Any change in the tax rate for CGT will not affect the returns of the investment (contact institution for details)
  9. " Clientèle Life 's Guaranteed Growth Plan Initial Capital and Interest rate is guaranteed back to the beneficiary when they elect to surrender the policy at death at any given time during the five years.
  10. The full maturity value is payable on death (excluding pre-existing conditions - please see the Discovery Invest Fact File for details)
  11. The returns for the Guaranteed-return Single-premium Policy may change during the week. Please refer to Assupol Life for their latest rates.
  12. Liberty advises that, as of Monday, 9 May 2016, its minimum premium on the "Guaranteed Investment Plan" and "Guaranteed investment plan - income option" increased to R150 000. Investments above the new value will be subject to the same standard rates and enhancements applicable in the past.
  13. Old Mutual Wealth - Underwritten by Clientele Life.

Compulsory Annuity

Not underwritten

Comparison of monthly annuity income (R500000 compulsory, monthly paid in arrears)
Institution Escalating 10yrs Certain &
Thereafter* (C&T)
Single Life* 10 C&T Joint & Survivor**
10 C&T
MetropolitanR 3 004.16R 4 393.73R 3 931.52
Old MutualR 2 982.32R 4 359.15R 3 928.47
DiscoveryR 2 766.57R 4 164.99R 3 799.96
MomentumR 2 740.95R 4 250.39R 3 878.08


  1. * Male 60 alb (DOB 01/01/1958)
  2. ** Male and female 60 alb
  3. 0% Tax deducted
  4. Escalation at 5% per Annum
  5. Funds received before or on the 15th of a month will have an entry date of the first of that month. Funds received after this will have an entry date of the first of the following month. This will impact on the values quoted on these pages, and should be born in mind when comparing data.

Underwritten

Institution Escalating 10yrs Certain &
Thereafter* (C&T)
Single Life* 10 C&T Joint & Survivor**
10 C&T
Just Lifetime Income (Low)6 R 3 124.72 R 4 540.02 R 4 053.36
Just Lifetime Income (Med)6 R 3 326.58 R 4 679.61 R 4 140.65
Just Lifetime Income (High)6 R 3 611.01 R 4 869.19 R4 273.39


  1. * Male 60 alb (DOB 01/01/1958)
  2. ** Male and female 60 alb
  3. 0% Tax deducted
  4. Escalation at 5% per Annum
  5. Funds received before or on the 15th of a month will have an entry date of the first of that month. Funds received after this will have an entry date of the first of the following month. This will impact on the values quoted on these pages, and should be born in mind when comparing data.
  6. The annuity will vary depending on a number of socio-economic, lifestyle and medical factors. As examples:
    - “Low” would apply for a mild condition such as high blood pressure, cholesterol, overweight or diabetes.
    - “Medium” would apply for a moderate condition such as diabetes, liver diseases, epilepsy, moderate obesity, or a combination of mild conditions.
    - “High” would apply for a more severe condition such as a heart disease, cancer, severe stroke, severe obesity, uncontrolled diabetes or a combination of less severe conditions.
  7. Please see http://www.justsa.co.za/for more details.


Voluntary Annuity

Comparison of monthly annuity income (R100000 Voluntary, 5 year term certain)
InstitutionGross IncomeTaxable PortionTax Free PortionTaxable Percentage
AbsaR 1 960.44R 293.77R 1 666.6714.985%
MetropolitanR 1 928.34R 261.67R 1 666.6713.570%
MomentumR 1 902.94R 236.27R 1 666.6712.416%
Old MutualR 1 886.66R 219.99R 1 666.6711.660%


Annuity with Capital Secured

(Commission at 3% plus VAT - 3.42)
Comparison of monthly annuity income on income plans with capital secured.
(Investment amounts R100 000 and R1 000 000)
InstitutionNatureSecurityCARRatioNotesGross annuity income
(R100 000)
Taxable portion
(R100 000)
Gross annuity income
(R1 000 000)
Taxable portion
(R1 000 000)
AbsaL 5R 570.86R 85.55R 5 708.57R 855.44
Clientele life*G2.435 ; 9R 565.41R 87.06R 5 732.40R 893.50
Discovery*G3.55 ; 6R 539.53R 39.14R 5 879.92R 709.81
NEDgroup LIFE*L 5R 466.49R 38.03R 5 172.94R 486.53
MomentumG2.75R 458.23R 36.89R 5 518.53R 725.13



(Commission at 1.5% plus VAT - 1.71)
Comparison of monthly annuity income on income plans with capital secured.
(Investment amounts R100 000 and R1 000 000)
InstitutionNatureSecurityCARRatioNotesGross annuity income
(R100 000)
Taxable portion
(R100 000)
Gross annuity income
(R1 000 000)
Taxable portion
(R1 000 000)
Clientele life*G2.435 ; 9R 586.54R 93.30R 5 943.50R 956.60
Discovery*G3.55 ; 6R 563.95R 42.84R 6 120.60R 746.30
MomentumG2.75R 493.19R 45.62R 5 859.35R 816.21

    A linked policy is defined in the long term Insurance Act of 1998 as: "...a long-term policy of which the amount of the policy benefit is not guaranteed by the long-term insurer and is to be determined solely by reference to the value of particular assets or categories of assets which are specified in the policy and are actually held by or on behalf of the insurer specifically for the purposes of the policy."
  1. Income is guaranteed/secured for a five-year term after which the capital is guaranteed back to the investor.
  2. * Investor should not have to pay capital gains tax (contact institution for details)
  3. Nedgroup Life pay monthly in advance as opposed to other institutions that pay monthly in arrears.
  4. VAT on commission has been taken in account for Nedgroup Life ,Sanlam,Investment Frontiers Old Mutual, ABSA,and Momentum.
  5. The full maturity value of the endowment policy is payable on death (excluding pre-existing conditions – please see the Discovery Invest Fact File for details)
  6. Clientèle Life's Guaranteed Income - Annuity with Capital Guarantee: VAT is taken into account on the plan and the value will not change for Vat-payable brokers or non VAT-paying brokers. The initial capital amount is guaranteed back to the beneficiary when they elect to surrender the policy at death at any given time during the five years at a different quotation.


Annuity codes

InstituteAnnuity code
MetropolitanMetquote Codes : D4F89 6DED7 E25F4 50142
MetropolitanMetquote Codes : 879C7 E1178 B586E E020C
MetropolitanMetquote Codes : F6D80 441A5 D1C8D A03CA
MomentumAnn : A-4HCWQEW-H4FBIVF-J4CBRIU
MomentumGuar : G-YXDWQ9V-J4HOQLJ-JKFBBK9
MomentumGe : GE-DCEJC-KBEDH-CLBCL-JEGBC-JFEDB-CDBCD
Old MutualMax Income : YFWXVJZYYZYYJYYJJ3H3YZ6YKE3JYNNJRBM
Old MutualAnn : 6RPES T42TH UQ5SD RWBUC
Old MutualBond : WR8UUUUUUUUUUUUUUUUUUU8NUUUUUUUURKR

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