In order to withdraw money from this investment, you need to sell your units and the money must be paid into the same bank account that we have on record for your Tax Free Investment.

Can I withdraw money from my Old Mutual life cover?

Old Mutual will pay the withdrawal amount into your bank account. The first two withdrawals per calendar year are free of charge, after which a transaction charge will apply. The Short Term Pocket will be reduced by the withdrawal amount and any transaction charges.

How do I redeem Old Mutual rewards?

You will be able to spend your Old Mutual Rewards points in the following ways:

  1. To contribute/reinvest towards qualifying Old Mutual products that you own.
  2. To pay for purchases in a rewards partner store.
  3. To buy a voucher to use at a rewards partner.
  4. To enter into certain competitions.

Can I borrow money from my Old Mutual retirement Annuity?

By law, you are not allowed to borrow from your retirement annuity. You can only access this money at age 55.

Can you cash out an RA?

The only time you are permitted to withdraw from your RA is when you retire from the fund, at which point you will be permitted to withdraw a maximum of one-third of the investment, subject to retirement tax tables.

Can I surrender my life cover?

Whole life Yes, you can. When you cancel whole life insurance, you gain the full amount of your investment, minus fees. During the life of your plan, roughly one-third of your premiums go into this investment fund. Upon surrendering, the insurance company will take anywhere from 10% to 30% in fees.

How do I redeem my reward points for cash?

Online:

  1. Step 1- Login to SBI Card portal using your customer ID and Password.
  2. Step 2- Go to the ‘Rewards’ section and click on ‘Redeem Rewards’.
  3. Step 3- Filter the Reward Points, City and Category.
  4. Step 4- Check the items on ‘Rewards Catalogue’and select one as per your choice.
  5. Step 5- Click on ‘Redeem Now’ to confirm.

How do I check my Old Mutual rewards?

Qualifying members can call 0860 33 77 72, you will be directed to a consultant who will verify your Old Mutual Rewards member details (membership number or number) and then assist you. The call centre is available 24 hours a day, 365 days a year.