BOE Insurance

BOE offers and investment solution matrix that allows clients to use investment as a way of financial insurance, thus offering a holistic approach insurance needs as part of a managed lifelong investment strategy. It also offers dedicated life insurance as part of the Nedgroup Life company. This entity is owned equally between Nedbank and Old Mutual SA.

It operates in the debt protection and coupon assurance markets specifically. It offers Nedbank`s clients with affordable debt protection coverage. Debt and credit protection is offered in the form of a number of different product packages. There is home loan assurance, credit card assurance, vehicle finance assurance, overdraft assurance, personal and micro loan assurance and a guaranteed investment plan. There is also a funeral plan offered.

As an example of how their products work, let`s take a look at their Guaranteed Income Plan. This allows people to invest a single sum for a period of 5 years, which then guarantees a monthly income for 60 months or a lump sum payout on maturity. The lump sum is tax-free and the monthly payouts are partially tax-free. The initial investment is always guaranteed as a return, and if the investor dies before all the monthly payouts have been made, the remainder of the initial investment amount is paid out as a lump sum. All of the insurance protection products work along similar principles to this.