GLU Mutual Life

With GLU Mutual Life You Share In Our Profits

If you’re younger than 60 and take out a Life Insurance product from glu, you automatically qualify for a Profit-Share Policy. As long as you are an active policyholder with us, you’ll receive a notional Profit-Share bonus every year regardless of whether you make any claims. 

The notional Profit-Share bonuses are calculated using glu's profits from operations and investments, after deducting expenses and regulatory capital requirements. Each member's share is then determined by comparing their premium payments to the total premiums received by glu during that financial year. Notional Profit-Share bonuses are allocated to your glu Profit-Share policy in April each year. You can earn a notional Profit-Share bonus

from this policy as well as from other glu products. The bonuses you accumulate in your glu Profit-Share policy become accessible to you once they have vested in terms of the Profit-Share program rules.

The Profit-Share will vest and become accessible in stages, with 20% being accessible after the 10-year policy anniversary and an additional 20% becoming available every five years thereafter. When your policy has been active for 25 years, or when you turn 65 (whichever happens first), all your unvested

Profit-Share balances will vest and become available for you to access. You can immediately access all future Profit-Share bonuses that you earn.

If your policy is cancelled, or lapses before the full vesting date, you will lose your right to the unvested Profit-Share balances.