Sanlam Life Insurance

Provides financial support for your family when you are no longer there.

From as little as R100 pm
About Life Insurance

Financial protection for your loved ones

Securing your family’s financial future is one of the most significant ways you can take care of them. Sanlam Life Insurance eases the burden on your family should you die unexpectedly by paying out a once-off tax-free amount that can be used to cover their expenses now and in years to come – expenses like funeral and estate administration costs, outstanding debts and daily needs. Sanlam has been protecting financial futures for over 100 years and our range of life insurance products is designed to meet your individual circumstances and needs. We’re also committed to paying on our promise and follow a consistent, fair and objective assessment approach that saw us paying out R3.969 million in life insurance claims in 2020.

We pay out fast

Because we understand that the loss of a loved one creates immediate expenses, we give you the option of separating your life insurance payment into two portions. The first, a quick payout portion, is settled within two days of the claim submission, allowing your family to cover funeral costs and on-the-spot expenses. The second payment is made after the required processes have been completed and can be used to cover estate costs, outstanding debt and future expenses.

Calculator

Calculate your cover costs

Peace of mind starts from as little as R100/m. To find out how much you can expect to pay for our comprehensive Life Cover, take five minutes to answer these six questions.

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Benefits

Why Sanlam Life Insurance?

Can be personalised to meet your needs
From as little as R100 pm
Tax-free payout
Option of a quick payout to cover immediate expenses
Wealth Bonus rewards

Quick and easy application process

Should you be diagnosed with a terminal illness and your life expectancy is less than one year, we pay out an immediate once-off lump sum

We reward your commitment

Because we believe in recognising your commitment to your financial future, we’ve created two valuable benefits that reward you for keeping your cover in place. Cashback pays up to 100% of your contributions back to you after 15 years and can be added to a qualifying new or existing risk policy. Wealth Bonus is a Sanlam Indie initiative that invests a portion of your contribution in a Money Market fund until you turn 70.

Cover Options

What about additional cover?

all
lump sum
monthly payout
Monthly Payout
Income Protection

Sanlam Income Protection protects you and your family against temporary and permanent illness or disability with a monthly payout that helps to support your current lifestyle.

Lump Sum
Funeral Cover

Is your family in a position to cover the costs of a funeral? Sanlam Funeral Cover offers up to R100 000 cover for you and up to 21 beneficiaries, with most claims paid out within hours.

Lump Sum
Disability Cover

Sanlam Disability Cover helps you manage the financial implications of a permanent disability with a lump-sum payout that can be used for day-to-day and disability-related expenses.

Lump Sum
Severe Illness Cover

Would you be financially stable if you were suddenly diagnosed with a serious illness or suffered a heart attack? Sanlam Severe Illness Cover helps you cover everyday expenses as well the costs associated with a dread disease.

Lump Sum
Cancer Benefit

The Sanlam Cancer Benefit provides comprehensive cover for cancers, tumours, leukaemia and lymphomas with a cash payout that can be used for out-of-pocket medical costs and the many hidden expenses associated with this disease.

Lump Sum
Credit Life Cover

Are you planning to take out a home loan or similar large loan? Sanlam Credit Life Cover ensures that your loan is paid if you are unable to do so as a result of retrenchment or disability, or because you pass away.

Speak to an expert

If you need help deciding what your next steps should be, speak to a Sanlam adviser who can help you make the best choices for you and your loved ones.

Product Information

Take a closer look at our cover

Cashback and Wealth Bonus benefits
We’ve created two valuable benefits that reward you for keeping your cover in place. As a Sanlam Matrix client, you have the option of adding our Cashback benefit to any qualifying new or existing risk plan. If you do so, your monthly payment will increase by 35% until you reach the 15-year mark, when 100% of your contributions will be made available to you to spend as you like – put the payout towards your children’s education, home renovations, unexpected expenses or even your retirement. Alternatively, you can choose to leave your lump sum to grow until you need it. You can also look forward to benefiting from Wealth Bonus – a portion of your contribution that’s invested in a Money Market fund until you turn 70, ensuring that your money keeps making money. With every 60 premiums you pay, a portion of your Wealth Bonus is made available to you to withdraw or leave invested.
Claims process
Because we understand that claims are submitted under very difficult and distressing circumstances, we’ve kept the process as simple and straightforward as possible. All claims can be submitted online in a few easy steps, and we’re here to help you every step of the way.
Premium increases
Your cover can be automatically adjusted every year for inflation. Doing so ensures that should you need to submit a claim against your policy several years from now, your cover will still carry the same relative value as it does the day you took it out.
Skipped premiums and payment holidays
We understand that life can throw you curveballs from time to time, which is why we have several options in place to help you maintain your cover while you get things back on track. As a Sanlam Matrix client, you may request a three-month payment holiday, during which time you’ll still benefit from limited cover. If you’re an Indie client, we allow you to skip a specified number of premiums while ensuring that your cover continues uninterrupted. What’s more, once you’ve been with Indie for three years, you qualify for additional premium skips for every year your policy remains in place. However, given that your cover amount depends on the number of premiums you’ve paid in the last six months, if you do miss one or more premiums, your cover will decrease accordingly.
Sanlam Reality discounts
Sanlam Reality is a lifestyle and rewards programme available to all Sanlam and Santam clients as well as members of Bonitas Medical Fund, Fedhealth Medical Aid, Barloworld Medical Scheme and Nedgroup Medical Aid Scheme. As a member, you qualify for special offers on selected Sanlam products, including Sanlam Life Insurance, where you could save as much as 30% on the cost of your monthly premium. You’ll also save money on wellness, travel and entertainment, and earn tier points for financially responsible behaviour. The more points you earn, the better your status and the bigger your discounts on certain benefits. Plus, if you apply for a Sanlam Money Saver credit card and use it at any of our national partners, which include Adidas, Incredible Connection, Jet and Edgars, up to 5% of your spend goes towards your Cashback bonus.
Underwriting
It may sound complicated, but underwriting is essentially the process your insurance provider uses to determine your risk status. This in turn affects your cover amount and monthly premiums, and establishes whether any terms and conditions apply to your policy. To help our underwriters calculate your status, you’ll be asked to supply information relating to your health, medical history, occupation and financial situation as well as details about where you’ve travelled or plan to travel and any potentially dangerous activities you participate in. You may also be required to complete a medical test. Our underwriting process is designed to ensure that you pay a fair premium for the full term of your cover and that your beneficiaries are able to claim confidently when the time comes. As carrying more risk for our clients forms part of our underwriting philosophy, your policy will remain unaffected should you change your occupation or smoking habits or take up risky activities after it has been issued.

Got questions about your cover?

We are here to assist with any financial advice, claims or policy related queries or concerns.

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