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Living Annuity Policy Terms and ConditionsApril 30th, 2021
27four Shall mean the Insurer, 27four Life Limited. Administrator: means Prescient Fund Services (Pty) Ltd, an authorised FSP responsible for administration of the Policy, including receipt of Contributions, investment and other instructions, calculation of the Policy Benefit, and settlement of claims. The Insurer has outsourced the administration to Prescient Fund Services (Pty) Ltd. Annuity Income: The income, before income tax is deducted, that is payable to the Policyholder on a regular basis under the Policy. The Annuity Income is generated by selling units from the Policyholder’s selected Investment Portfolios, either proportionately from all the selected Investment Options or only from a specific Investment Option. Anniversary Date This is the anniversary of the date on which the Policy originally began. If the Policy resulted from a transfer, the anniversary date will be the same as before the transfer. Beneficiary: means a natural person nominated at any time by the Policyhold
