Moonstone Investment Rates Report

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Updated: 22-November-2021 Valid until: 26-November-2021

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 - 3.45)
Comparison of secured investment rates (Investment for five year period)
InstitutionNature of SecurityCAR RatioNotesSecured Return**% Return on investment**Secured Return***% Return on investment***
Clientele life*G2.43R 132 564.845.800%R1 331 925.095.900%
Absa*L0R 133 018.905.872%R1 330 188.975.872%
Old Mutual Wealth Fixed BondG0R 128 546.365.151%R1 329 197.455.857%
Assupol (secured)G1.94R 129 991.395.386%R1 326 588.365.815%
MomentumL2.6R 127 906.005.050%R1 325 118.005.790%
Discovery*G3.5R 126 789.064.862%R1 300 939.365.403%
NEDgroup LIFE*L0R 122 427.604.130%R1 241 419.164.420%



(Commission at 1.5% plus VAT - 1.725)
Comparison of secured investment rates (Investment for five year period)
InstitutionNature of SecurityCAR RatioNotesSecured Return**% Return on investment**Secured Return***% Return on investment***
MomentumL2.6R 130 749.005.510%R1 353 681.006.240%
Old Mutual Wealth Fixed BondG0R 130 877.365.529%R1 353 024.486.233%
Clientele life*0R 134 581.766.120%R1 352 170.596.220%
Assupol (secured)G1.94R 131 852.185.686%R1 347 594.036.148%
Discovery*G3.5R 129 185.715.255%R1 324 905.895.788%

  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, Discovery, ABSA, Clientèle Life, Momentum, and Assupol.
  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.


Compulsory Annuity

Not underwritten

Comparison of monthly annuity income (R500000 compulsory, monthly paid in arrears)
InstitutionEscalating 10yrs Certain &
Thereafter* (C&T)
Single Life* 10 C&TJoint & Survivor**
10 C&T
Assupol Life (rewired)R 3 703.03 -         -        
Assupol LifeR 3 172.33R 4 596.49R 4 242.82
MomentumR 3 166.03R 4 575.70R 4 269.28
Metropolitan*R 3 134.78R 4 544.72R 4 148.24
DiscoveryR 3 089.50R 4 450.10R 4 117.37
Old MutualR 3 087.25R 4 505.27R 4 139.96

  1. * Male 60 alb (DOB 01/01/1960)
  2. ** Male and female 60 alb
  3. 0% Tax deducted
  4. Escalation at 5% per Annum
  5. Metropolitan Life Annuities: contact your financial adviser or your nearest Metropolitan branch. Alternatively, contact our call centre on 0860 724 724.
  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. This will impact on the values quoted on these pages, and should be born in mind when comparing data.


Voluntary Annuity

Comparison of monthly annuity income (R100000 Voluntary, 5 year term certain)
InstitutionGross IncomeTaxable PortionTax Free PortionTaxable Percentage
Absa*R 1 893.97R 227.30R 1 666.6712.001%
MomentumR 1 849.93R 183.26R 1 666.679.906%
MetropolitanR 1 808.73R 142.06R 1 666.677.854%
Old MutualR 1 775.83R 109.16R 1 666.676.147%


Annuity with Capital Secured

(Commission at 3% plus VAT - 3.45)
Comparison of monthly annuity income on income plans with capital secured.
(Investment amounts R100 000 and R1 000 000)
InstitutionNatureSecurityCAR RatioNotesGross annuity income
(R100 000)
Taxable portion
(R100 000)
Gross annuity income
(R1 000 000)
Taxable portion
(R1 000 000)
Absa*G3.5R 470.13R 56.42R 4 701.34R 564.22
Assupol (annuity)L1.94 -         -         R 4 597.30R 322.05
MomentumL2.6 -         -         R 4 556.64R 483.46
Clientele life*G2.43R 439.23R 53.85R 4 471.70R 557.27
Discovery*G3.5R 386.74R 6.46R 4 338.32R 369.27
NEDgroup LIFE*L0R 334.67R 16.05R 3 577.40R 193.15


(Commission at 1.5% plus VAT - 1.725)
Comparison of monthly annuity income on income plans with capital secured.
(Investment amounts R100 000 and R1 000 000)
InstitutionNatureSecurityCAR RatioNotesGross annuity income
(R100 000)
Taxable portion
(R100 000)
Gross annuity income
(R1 000 000)
Taxable portion
(R1 000 000)
MomentumL2.6 -         -         R 4 898.05R 559.85
Assupol (annuity)L1.94 -         -         R 4 805.50R 336.63
Clientele life*G2.43R 460.65R 58.98R 4 685.67R 609.31
Discovery*G3.5R 412.91R 9.78R 4 596.64R 402.08
  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. Income is guaranteed/secured for a five-year term after which the capital is guaranteed back to the investor.
  3. * Investor should not have to pay capital gains tax (contact institution for details)
  4. Nedgroup Life pay monthly in advance as opposed to other institutions that pay monthly in arrears.
  5. VAT on commission has been taken in account for Nedgroup Life, ABSA, Momentum, and Assupol.
  6. 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)
  7. 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 : B2F18 59517 482B3 101D4
MetropolitanMetquote Codes : FF710 97958 8E9E5 B020F
MetropolitanMetquote Codes : 1FB2E 9420F EB220 E034A
MomentumDb : DB-DCFCD-EDEDH-CLBCK-HKDBC-ICJDB-CDBCD
MomentumGuar : G-AHDAAPA-W4GEQ7R-XXEB7HR
MomentumAnn : A-MXDAQEK-L4EBJ4G-XDDBR4Q
Old MutualAnn : B3GNM UZH26 HS8QZ NSUXY
Old MutualMax Income : 8XNPPFZVVS5ZZ66YZJYJJHJHQVTZNNHHDWD
Old MutualBond: CAGUUUUUUUUUUUUUUUUUUUN9UUUUUUUM6F8

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