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Sanlam Tax-free Investment: Withdrawals and Submitting a Claim

You can withdraw money at any time. No fees will be charged for withdrawals.

Any re-investment will count towards your total tax-free savings payments, which are limited to R500 000 over your lifetime. Withdrawing funds may prevent you from reaching your savings goals.

The effect of compound interest, or earning investment return on investment return, is increased in a tax-free savings account due to the tax relief on the investment return. The longer you invest the more benefit you will get.

No, but you can withdraw a part or all of your investment if you need access to the funds.

Yes, if you selected your own funds you can ask for monthly income payments once the fund value on your plan has reached a minimum (currently R 40 000). You cannot take income while making recurring payments.

You cannot take income from a plan invested in the default investment option.

The fund value on the date we are notified of your death will be paid to the beneficiaries on the plan or to your estate, if no beneficiaries were appointed.

Beneficiaries will receive the proceeds tax free, and can choose to take out a new tax-free investment if they want to continue investing in this product.

In the event of a claim, please tell us as soon as possible. To get the necessary claim forms and to make sure that all the required information is supplied, contact the Sanlam Life Claims Call Centre at 021 916 1710.

Depending on the nature of the claim, certain documents (e.g. a death certificate) may be required.

Marketing and advice charges are payable on Sanlam Tax-free Investments bought on a BlueStar website due to the commission and investment advice fees payable to the principal of the BlueStar business. The commission and investment advice fees can be renegotiated at any time by contacting the Sanlam Life Client Care Centre on 0860 SANLAM (0860 726 526) or life@sanlam.co.za.

A Sanlam Tax-free Investment bought on a BlueStar website will be included in the regular reviews of your comprehensive financial plan. For this the principal of the BlueStar business will receive a commission of 2.5% of any recurring payment and 1% of any one-off payment. An initial marketing charge will be deducted from each payment based on this commission, and is currently 2.85% for recurring payments and 1.14% for one-off payments.

For plans bought on BlueStar websites where you selected your own fund, you will also get ongoing investment advice and services, including performance feedback. For this the principal of the BlueStar business will receive 0.57%, including VAT if applicable, of the fund value per year. A fund-based fee will be deducted from the plan based on this investment advice fee for as long as there is an investment advice agreement with any adviser in the BlueStar business.