The Old Mutual Invest Tax Free Plan adapts to your needs
- Take advantage of the tax-free allowance provided by the Government and invest a maximum of R33 000 per tax year and R500 000 in your lifetime into your Tax Free Plan.
Even though there are limits as to how much you can invest, there are no limits on the growth of your investment.
What is the role of the parent/legal guardian in the investment?
- As the parent/legal guardian, you do not own the Plan, the minor does. It will therefore not reflect as part of your portfolio.
- You will be able to make changes to the Plan until the minor reaches the age of 18.
Only one Tax Free Plan is allowed per person.
- This application will not be processed if you already have an Old Mutual Invest Tax Free Plan or an Old Mutual Wealth Tax Free Investment.
The advantages of a long-term insurance policy
Your Old Mutual Invest Tax Free Plan is a long-term insurance policy that is governed by long-term insurance and tax legislation. This means:
- You can add beneficiaries to your plan, saving on executor fees.
- Your savings have some protection in case of your insolvency.