Jargon buster: financial phrases simplified

This week’s jargon buster looks at the letter ‘T’. Picture: Supplied.

This week’s jargon buster looks at the letter ‘T’. Picture: Supplied.

Published May 17, 2024


JUST SA’s weekly jargon buster aims to give simple, plain English explanations for typical words and phrases used in the financial industry, in particular, words relating to guaranteed life annuities and living annuities.

This week, we look at the letter: T

Term CertainA term certain annuity is an insurance product that guarantees a periodic payment of a predetermined amount for a fixed term. Once the term has elapsed, there will be no future payments, even if you're still alive.Should you die before the term ends, any leftover assets can be given to a named beneficiary.

Source: Just Retirement SA, [email protected].

The jargon buster is intended for information purposes only. It should not be regarded as advice as defined in the Financial Advisory and Intermediary Services Act 37 of 2002 or any form of advice in respect of the policy, retirement, tax, legal or other professional service whatsoever.

You are encouraged to seek advice from an authorised financial adviser or to independently decide what financial product is appropriate for you, based upon your own judgment and understanding of your financial needs.

Just Retirement Life (South Africa) Limited is a licensed life insurance company, regulated by the Prudential Authority of the South African Reserve Bank and the Financial Sector Conduct Authority as an authorised financial services provider (FSP number 46423).