Greenlife Regular Premium Savings

The Greenlife Regular Premium Savings Benefit provides a disciplined contractual savings investment to accumulate capital over time.

Features and Benefits

  • The benefit is invested in units of the Old Mutual Malawi Investors Fund (taxed) . The fund is market-linked with its investment performance, together with the number of units purchased each month, determining the growth in your savings benefit.
  • Market-linked to achieve rapid growth.
  • Protected against inflation - the annual premium increase is based on the year-on-year urban inflation rate in Malawi, ensuring that the value of your savings is protected.
  • Enhance your benefit by selecting an escalation rate for your annual premium increase that is above the inflation rate (between 1% and 20%).
  • Ad hoc cover increases are allowed over and above the annual automatic benefit escalation.
  • Premiums will automatically increase annually on the policy anniversary date.
  • The minimum investment term is 10 years and is open-ended.
  • Flexible - partial disinvestments are allowed. The partial disinvestment value of your benefit will depend on the value accumulated during the investment period as well as the unit price at the time of investment. A plan amendment charge is levied for each partial disinvestment during the premium payment period.
  • There are two optional protection riders available:
    • Premium protection on death rider – a premium waiver benefit where Old Mutual will take over paying the premium payments if the premium payer dies.
    • Premium protection on disability rider – a premium waiver benefit where Old Mutual will take over paying the premium payments if the premium payer becomes disabled. It can be added to your policy by itself or in conjunction with the Premium Protection on Death rider.

With the Regular Premium Savings Benefit you also have the option to add the Greenlife Risk component where you can choose the benefit cover that suits you.

The Regular Premium Savings Benefit forms part of the Greenlife bouquet of “modular” components or benefits where you can add retirement and life assurance benefits to your portfolio to meet your financial needs as your lifestyle evolves.

For more information on the Regular Premium Savings Benefit and other products available, please view our frequently asked questions , visit your nearest Old Mutual branch, call us on +265 (0) 1 820 677, send us an email or speak to your sales agent.