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Fees and charges

Early termination charges may apply if you cancel or transfer certain investment policies, or stop or reduce your premiums. Some investment policies may also incur a service charge to a maximum of R300.

The details of these charges were set out in the quotation that you signed when you took out the policy, and are fully set out in your policy terms and conditions. They will also be set out in the servicing quotation that you will be given if you decide to do any of these things.

The table below gives a summary of the policy changes that may incur these charges:

Policy type Action that may incur charges

Investment policies

  • Stop or reduce premiums

  • Withdraw funds

  • Surrender your policy (cancel before maturity date)

Retirement funds

  • Stop or reduce premiums

  • Withdraw funds (e.g. from a Preservation fund)

  • Retire early (before Selected Retirement Date)

  • Transfer to another retirement fund

  • Take a legislative withdrawal (e.g. divorce, maintenance, emigration)

Living annuity

  • Transfer to another annuity provider


Commission and advisory fees

Commission payments are regulated by law and are paid by the insurer to the adviser for intermediary services.

The Advisory Fees shown are paid to the financial adviser in terms of the Advice Fee Mandate(s) that you signed. The Initial Advisory Fee is a once-off fee. The Ongoing Advisory Fee is a monthly payment for service and support provided by your financial adviser. You may stop the payment of Ongoing Advisory Fees at any time.

As a Liberty representative, your financial adviser may receive other benefits not directly related to the policy or policies.


Liberty Group Limited (Reg. no 1957/002788/06) is a licensed Insurer and an Authorised Financial Services Provider (no 2409).