1 LIFE INSURANCE F THE LIVING! An Authorised Financial Services Provider Item No: Feb06
2 Life insurance for the living! With the FNB Living Facility, you don't have to die to benefit - we will reward you for living! You can choose to get back - 10% of the premiums you have paid every three years; all the premiums you have paid over the term; the whole insured amount, if you are alive at the end of the term. In the past you could never reap the benefit of the premiums that you paid, because you had to die before the money could be paid out! How are you currently insuring your life? A life insurance policy that only pays out at your death Expensive credit life cover A universal life policy with no guarantees and no value in the short term You have no life insurance That's not good enough!
3 What makes the FNB Living Facility better? With the FNB Living Facility, you have an innovative life insurance policy that: guarantees your benefits and your premium for life, and rewards you for living You choose to get back: 1. 10% of the premiums you paid, tax-free every three years the Living Bonus Facility. 2. all the premiums you have paid at the end of the term it is free life cover with the Living Premium Facility 3. the whole insured amount taxfree (e.g. R1,5 million), if you are alive at the end of the term the Living Future Benefit will not expect you to undergo lengthy and time consuming medical examinations. We will phone you to get the medical information we need from you.
4 A practical guide to your insurance needs F Life a c il it Cover Retrenchment Benefit y P Cash back ro t ec Inability Benefit t io Cover n e B n Top-up fi e t The Living Facility will pay a lump sum on your death. But you also benefit by getting money back if you stay alive you can choose to get either 10% of your premiums back every three years or the whole insured amount if you are alive at the end of the term! The Inability Benefit protects you against incapacity. Many people don't realise that becoming incapacitated will seriously jeopardise their financial situation - not only will their income cease because they are unable to work, but they will also have additional expenses, such as medical bills. It is therefore wise to cover yourself against this unforeseen eventuality. The Cover Top-up Benefit is automatically included in your Living Facility and allows you to increase your cover and cash back benefits without evidence of health. The Facility Protection Benefit can be included if you would like us to pay your future contributions in case you become incapacitated. We will also pay your premiums for three months if you are retrenched.
5 How does the FNB Living Facility work? How do I get cash back? You have three options: 1. The Living Bonus Facility You can get 10% of your premiums back every three years, for as long as the Facility remains in force. For example, if your monthly premium at the start of a three-year cycle is R350, you will receive R1 324 back in three years' time - tax-free! 2. The Living Premium Facility You get back all the premiums you have paid during the term of the policy, which effectively means that you get life cover for free! This amount will be paid to you tax-free! 3. The Living Future Facility You can insure your life for an amount of, for example R1.5 million, and you get the whole insured amount back at the end of your chosen term - taxfree. For example, if you are now 30 years old, need R1.5 million life cover for 20 years and you choose this option, we will pay you the R1,5million if you die or if you live to your 50th birthday - guaranteed!
6 The Living Bonus Facility You can choose to insure your life for a specific term or for your whole life. Term cover works especially well by providing security for a home loan or other forms of fixed-term debt. You choose the insured amount, e.g. R1,5 million, and the term e.g. 20 years. If you die during the term, we pay out the insured amount and it can be used to settle the outstanding bond - leaving your family free of debt. In addition you will get 10% of your premiums back (Living Bonus) every three years while you are alive during the term of the facility, or until you die! This money is tax-free in your hands! Illustration of future Living Bonuses: The table below shows the future Living Bonuses that will be paid to you if you have not claimed or missed a premium during the preceding 3 years. The Living Bonus is based on a starting premium of R350 per month. Living Bonus after 3 years R1 324 Living Bonus after 6 years R1 533 Living Bonus after 9 years R1 774 Living Bonus after 12 years R2 054
7 The Living Premium Facility With the Living Premium Facility you choose the term of your Facility. The Living Premium Facility will repay all the premiums you have paid during this term. This means that you have been covered for free! Example You insure your life for R and pay R * in premiums during the 20 year term. If you are alive at the end of this 20 year term, you will receive the amount of R tax free. But if something should happen to you and you die or become disabled, your dependants will still receive the insured amount of R you can t lose! It is free life cover! * Each person s premium will differ according to his or her risk profile.
8 The Living Future Facility The FNB Living Future Benefit is truly Life Cover for the Living. You choose the term of your Facility. The Living Future Facility will pay the whole insured amount if you die during this term. If you survive your selected term, you will receive the whole insured amount that you selected at the beginning of the term. This is called the Living Future Benefit. The Living Future Benefit is tax-free in your hands and you can use the money for anything. You can buy a car, travel or even buy a house! You can even use this money to supplement your retirement funds. Example: You have just been granted a single credit facility, registered for R1,5 million over a 20 year term. You protect your family in case of your death or inability by taking out a Living Future Facility. This means that they will be able to pay off the outstanding debt if you die or become incapacitated. If you live for the next 20 years and there is still an amount owing on the single credit facility, you can use your Living Future Benefit to settle the debt. You now have a facility that: will pay out the whole insured amount if you die, which means that your family is looked after - tax-free! will pay out the whole insured amount if you don't die but live to the end of the term - tax-free!
9 Inability Benefit The Inability Benefit pays you a lump sum if you become incapacitated during the term of the Facility. You choose the size of your inability cover at the start of your facility. The benefit will be paid on any of the following events: Loss of hearing Loss of vision Loss of speech Cancer Loss of limbs Paraplegia Muscular dystrophy Heart bypasses Surgery to the aorta Heart failure Kidney failure Respiratory failure Organ transplants Stroke Permanent confinement to a wheel chair, or becoming bedridden Terminal illness
10 Retrenchment Benefit If you are retrenched, we will pay your premiums for three months. After the three months you will have to resume premium payments in order to keep your benefits intact. You will not lose any Living Bonuses and your Living Future Benefit will remain unaffected under the Living Future Facility Benefit Cover Top-up Benefit Your FNB Living Facility has a built-in Cover Top-up Benefit. This allows you to increase your level of cover every year without having to undergo any medical examinations or answer any medical questions. Both your life cover and your inability cover (if selected) will increase by your chosen percentage each year. Facility Protection Benefit The Facility Protection Benefit will pay your future premiums if: you become incapacitated, or you are retrenched If you become incapacitated during the term of your Facility, the Facility Protection Benefit will continue to pay your premiums for the remainder of your chosen term.
11 Do I have to go for medical tests? The FNB Living Facility does not require you to go for extensive medical examinations. In most cases we will ask you a few medical questions over the telephone and make the underwriting decision based on this information. If you currently have a fully underwritten, standard rates policy with another insurer that is less than two years old, and your health has not changed since then, you are guaranteed acceptance under the Living Facility, for up to double the life cover qualifying policy. When does my cover start? Your life cover will start when we receive the first premium. Are any benefits guaranteed? Yes, all our benefits are guaranteed for life. In order to keep the starting premium as low as possible, the premium will increase by 5% each year. If you aspire to provide yourself with peace of mind and money back, don't wait a minute longer to find out how you can benefit from the FNB Living Facility. Just send a blank SMS to and we will phone you back.
Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association of state insurance regulatory officials. This association helps the
Fact sheet Personal insurance Current as at 15 April 2012 What is insurance? Insurance is an agreement with an insurance company to pay you a sum of money if something is damaged or lost. It is form of
Produced by Life Insurance Association General Insurance Association of Singapore YOUR GUIDE TO Health Insurance An initiative of MoneySENSE A National Financial Education Programme for Singapore Introduction
How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved
In safe hands Business protection for sole traders How secure is your financial future? As a sole trader the success of your business depends on you your skills, your judgement, your drive. In turn you
Buyer s Guide to: Fixed Deferred Annuities National Association of Insurance Commissioners 2301 McGee St Suite 800 Kansas City, MO 64108-2604 (816) 842-3600 1999, 2007 National Association of Insurance
This brochure gives a brief explanation of Just Retirement Enhanced Annuities, all of which provide a guaranteed income for life. It explains who may qualify for a higher retirement income from this product
KEY GUIDE Financial protection for you and your family Protecting what matters most Life and health insurance protection underpins most good financial planning. These types of insurance can ensure that
Conventional Lifetime Annuity Options Your Questions Answered 0800 014 7470 0333 014 6267 am-5.30pm weekdays. Calls may be recorded for training and monitoring purposes. www.425fs.co.uk Contents 1. Introduction
Shedding light on Life insurance a practical guide to helping you achieve a lifetime of financial security Learn more about: Safeguarding your loved ones Protecting your future Ensuring your dreams live
Life insurance protects your financial future. It provides the resources your family or business may need to pay immediate and continuing expenses when you die. What You should Know About Buying Life Insurance
Insurance in your super Employer-sponsored and personal superannuation members. This document was prepared on 3 August 2015. The information in this document forms part of the Statewide product disclosure
Questions To Ask About Life Insurance What are your goals? Do you want to replace the income you bring in to your family? Pay off debts and taxes? Pay for a child s education? Donate to charity? Term or
The Instant Insurance Guide: Life A buyer s guide to life insurance and annuities in Delaware From Karen Weldin Stewart, CIR-ML Delaware s Insurance Commissioner 1-800-282-8611 www.delawareinsurance.gov
& Guidance A Guide to Life Insurance Cover Contents How can I protect my family financially if I die? 02 What is life insurance? 03 What is a Financial Broker? 06 Why would I need to use a Financial Broker?
It s flexible Key features of the Flexible Income Annuity Flexible Income Annuity This is an important document and you should read it before deciding whether to buy your pension annuity from us Purpose
Key Features of the NFU Mutual Pension Annuity Contents Who should buy this product? page 1 Its Aim page 1 Your Commitment page 1 Risks page 1 How do pensions work? page 2 What is a Pension Annuity? page
Issued ₁ July ₂₀₁₅ Insurance guide SignatureSuper AMP Life fact sheet AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379. The information in this document forms part of the
Insurance handbook Peace of mind for VicSuper FutureSaver members and their families 1 July 2015 Contents Contents Need help with the calculations? Take advantage of our online insurance calculators to
plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love. It can mean the difference between leaving your loved ones well positioned
Reviewed January 2010 Insurance and diabetes Buying the right insurance policy can give you financial protection and peace of mind if the unexpected happens. Unfortunately, having diabetes can affect both
PENSION ANNUITies BUYING A PENSION ANNUITY BUYING A PENSION ANNUITY. 1 This is an important, once and for all, decision. We want you to be confident that you have the information you need to make the right
Sunsuper for life Insurance guide Learn more about your insurance Identify your insurance needs Preparation date: 9 June 2015 Issue date: 1 July 2015 INSURANCE IN YOUR SUPER Contents 1 Why have insurance?
Our guide to buying an annuity 2 Our guide to buying an annuity Contents Introduction 3 Pension reforms Thinking about retirement 3 Money and budgeting How can we help? Your retirement timeline Key questions
BUYER S GUIDE TO FIXED DEFERRED ANNUITIES The face page of the Fixed Deferred Annuity Buyer s Guide shall read as follows: Prepared by the National Association of Insurance Commissioners The National Association
Life Insurance and Annuity Buyer s Guide Introduction The Kentucky Office of Insurance is pleased to offer this Life Insurance and Annuity Buyer s Guide as an aid to assist you in determining your insurance
Personal Personal insurance Protection for all life stages Financial solutions. For life. Contents Protecting your well-being and your family s 3 Why leave anything to chance? 4 Making it easier for you
The Beginner s Guide to Income Protection Are you thinking of protecting your income? Your Income Protection questions will be answered here! We have prepared a comprehensive guide for you with all the
ohio shopper s guide series Annuity Contracts This guide: Explains annuity contracts and their purpose Describesvarious contracts being sold today Details your choices for paying premiums and receiving