Moonstone Investment Rates Report

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Updated: 24-January-2022 Valid until: 28-January-2022

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***
Absa*L0R 134 247.736.067%R1 342 477.296.067%
Clientele life*G2.43R 133 192.515.900%R1 338 225.586.000%
MomentumL2.6R 128 820.005.200%R1 334 594.005.940%
Assupol (secured)G1.94R 130 702.195.501%R1 333 875.705.931%
Old Mutual Wealth Fixed BondG0R 126 646.244.838%R1 309 654.075.543%
Discovery*G3.5R 124 286.294.444%R1 275 259.284.983%
NEDgroup LIFE*L0R 123 430.234.300%R1 252 155.954.600%



(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 131 684.005.660%R1 363 362.006.400%
Clientele life*0R 135 217.066.220%R1 358 547.546.320%
Assupol (secured)G1.94R 132 571.105.801%R1 355 037.256.265%
Old Mutual Wealth Fixed BondG0R 128 942.865.215%R1 333 130.955.919%
Discovery*G3.5R 126 635.634.836%R1 298 752.745.367%

  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 3 634.85 -         -        
MomentumR 3 172.70R 4 563.50R 4 229.48
Assupol LifeR 3 112.86R 4 525.74R 4 172.01
Metropolitan*R 3 053.13R 4 492.50R 4 081.79
Old MutualR 2 997.03R 4 427.89R 4 045.58
DiscoveryR 2 963.77R 4 350.79R 4 003.46

  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 1 902.25R 235.58R 1 666.6712.384%
MomentumR 1 850.06R 183.39R 1 666.679.913%
MetropolitanR 1 806.24R 139.57R 1 666.677.727%
Old MutualR 1 781.81R 115.14R 1 666.676.462%


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 485.28R 60.10R 4 852.79R 600.98
Assupol (annuity)L1.94 -         -         R 4 691.27R 354.37
MomentumL2.6 -         -         R 4 657.63R 495.11
Clientele life* G2.43R 448.76R 56.11 R 4 566.86R 580.15
Discovery*G3.5R 352.10R 0.00R 3 984.51R 268.67
NEDgroup LIFE*L0R 348.31R 17.95R 3 713.73R 213.42


(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 4 997.81R 572.25
Assupol (annuity)L1.94 -         -         R 4 899.67R 370.12
Clientele life* G2.43R 470.15R 61.32 R 4 780.61R 633.07
Discovery*G3.5R 378.36R 0.11R 4 243.83R 297.98
  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 : F5AF0 9D17B 1955C A010D
MetropolitanMetquote Codes : C269D ED543 CD8CE 402BC
MetropolitanMetquote Codes : 3FEA1 79557 EBC38 B03BF
MomentumAnn : A-UXCKQEP-T4FBK6G-YVDBRMX
MomentumGuar : G-AXDKAP2-W4EEQIB-YXGB7LR
MomentumDb : DB-DCFDC-EDGDH-CLBCK-JKDBC-IEEDB-CDBCD
Old MutualMax Income : MZM3PP95TT96ZZZZYYJJHHHHL4TLNHNJJZ9
Old MutualAnn : 5T8WM VSLDF P2GMX 426ZP
Old MutualBond: 8K8UUUUUUUUUUUUUUUUUUU62UUUUUUUUR3Z


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