A Typical Benefit Fund

Group Benefits - A Typical Benefit Fund

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A typical Benefit Fund

 

Section 1  Benefits 
  • Life cover
  • Capital disability
  • Dread disease
  • Income protection (monthly income)
  • Funeral benefits (including family members)
 
  • 3 x annual salary
  • 3 x annual salary
  • 1 x annual salary
  • 75% of current income
  • R10 000 – R20 000
 
Section 2  Investments Utilising the servicing of South Africa’s premier investment teams such as Investec, Allan Gray, Prudential, Coronation etc. Typically the employee’s contribution and the balance of the employer’s contribution of the payment benefits and costs. 
Section 3 Costs 

Costs relate to 3 areas of involvement:

  • Advice
  • Administration
  • Fund management
 
Cost differs across companies and fund managers. 
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