Moonstone Information Refinery (Pty) Ltd
Investment Rates

Assupol banner

Updated: 25-November-2019Valid until: 29-November-2019

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*L 8136,687.356.450%1,373,305.856.550%
1LifeL 8135,535.616.270%1,358,547.546.320%
Clientele life*G2.438 135,408.126.250%1,360,465.316.350%
Absa*L 8134,912.066.172%1,349,120.626.172%
Discovery*G3.58133,832.156.002%1,373,206.096.548%
Assupol (secured)G1.948 ; 11133,148.495.893%1,358,803.126.324%
MomentumL2.68130,431.005.460%1,351,412.006.210%
NEDgroup LIFE*L 8125,515.154.650%1,284,812.835.140%



(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***
Clientele life*L 8138,754.226.770%1,394,052.236.870%
1LifeL 8137,911.566.640%1,381,704.066.680%
Clientele life*G2.438137,459.526.570%1,381,056.596.670%
Discovery*G3.58136,361.936.399%1,398,503.956.938%
Assupol (secured)G1.948 ; 11135,045.296.193%1,378,081.356.624%
MomentumL2.78133,331.005.920%1,380,536.006.660%


  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 3,140.84-       -      
Old MutualR 3,010.55R 4,337.78R 3,945.76
MetropolitanR 2,985.74R 4,367.58R 3,940.98
MomentumR 2,905.70R 4,347.31R 4,081.33
DiscoveryR 2,899.48R 4,255.94R 3,910.99
Assupol (secured)R 2,669.06R 4,085.67R 3,695.37


  1. * Male 60 alb (DOB 01/01/1959)
  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 1,930.06R 263.39R 1,666.6713.647%
MomentumR 1,880.50R 213.83R 1,666.6711.371%
Old MutualR 1,855.35R 188.68R 1,666.6710.170%
MetropolitanR 1,830.13R 163.46R 1,666.678.932%


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)
DiscoveryG3.505R 469.94R 23.49R 5,177.91R 547.12
Clientele life*G2.435 R 502.54R 69.62R 5,104.20R 717.12
Assupol (annuity)L1.945-       -       R 4,997.67R 407.91
Absa*G3.505 R 499.45R 68.16R 4,994.54R 681.60
MomentumL2.605R 398.44R 24.54R 4,909.67R 592.60
NEDgroup LIFE*L 5R 375.62R 22.00R 4,139.76R 282.93



(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)
Discovery*G3.505 R 495.16R 27.04R 5,426.69R 582.14
Clientele life*G2.435 R 523.81R 75.33R 5,316.70R 515.94
MomentumL2.605R 433.44R 32.51R 5,253.14R 676.08
Assupol (annuity)L1.945-       -       R 5,203.14R 424.68

    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, ABSA, Momentum, and Assupol.
  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 : 6FC01 39AE2 C23E9 20110
    MetropolitanMetquote Codes : 0114E FB7F8 6E8B9 002FD
    MetropolitanMetquote Codes : 2D23F 24829 967BA 8032E
    MomentumAnn : A-MXDAQER-D4E7LER-PWCBRUZ
    MomentumGuar : G-YHDAQ9L-J4HOQ7B-PKFBBU9
    MomentumDb : DB-DCEKD-EDHDH-CLBCL-DHDBC-IGKDB-CDBCD
    Old MutualMax Income : WXJREKHY6ZZZZZZZYZJL66JJHV3KRHHJS2M



    For further information or comments please contact us at info@MoonstoneInfo.com or visit our website http://www.MoonstoneInfo.com.