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Group Risk Benefits

To assist employers in protecting their employees, Sanlam offers group risk products – designed to insure employees and protect their families in the event of long-term illness or death while working. Along with retirement savings, group risk benefits such as life insurance, group accident insurance, disability income protection, and group critical illness form the backbone of staff benefit packages.

Sanlam has become known for providing cutting-edge risk solutions, as well as flexibility in customising cover to suit the unique needs of your employees. True to our commitment to providing cutting-edge risk solutions, we are pleased to announce the transaction with Alexander Forbes Life whereby Sanlam Life Insurance Limited (Sanlam Life) acquires the group risk and individual life policies previously underwritten by Alexander Forbes Life Limited (AF Life).

The conclusion of the transaction requires various approvals, including those from the Competition Commission and Prudential Authority. We expect it to be effective during 2022.

See below, about the transfer of the group risk and individual life policies underwritten by Alexander Forbes Life to Sanlam.

Acquisition of Alexander Forbes Life

Alexander Forbes has successfully entered into an agreement with Sanlam for the sale and transfer of the group risk and retail life business operations of AF Life.

As part of the transaction to acquire Alexander Forbes Life, Sanlam Corporate will also be welcoming members of the Alexander Forbes Life team, thereby ensuring the transfer is seamless for our clients and our people. Both the Sanlam and AF Life teams are committed to a high quality of service to their clients and will ensure that the transition between the respective businesses is well managed and communicated.

Please take some time to read through the below FAQs and download the document as they include all the necessary information should you need it.

Frequently asked questions

On 3 April 2019, Alexander Forbes Group Holdings announced its intention to sell AF Life as part of its strategy to focus on its core retirement, savings and investments business. The strategy of the Alexander Forbes Group is to, in future, concentrate on a core advice-led business. Sanlam Life acquired the policies in line with its strategy to focus on its core mandate which includes group insurance products.

No changes will be implemented, and it is ‘business as usual’. Clients’ policies will be transferred with all current benefits and obligations. From the date of the transfer, Sanlam Life will be responsible for the fulfilment of all the obligations AF Life had in terms of the insurance policies. Until the insurance policies are transferred to Sanlam Life, all client benefits will be paid by AF Life.

No additional premium will be payable to Sanlam Life due to the transfer. The existing policy wording is still applicable, all the terms and conditions remain the same. Premiums may be adjusted during the regular review process at the renewal of the insurance policy. Either AF Life or Sanlam Life will advise you if your premium will be increased due to the review. Any underwriting decisions previously made by AF Life will still hold firm.

Sanlam Life will become the new insurer once this transaction is approved by the Prudential Authority. Sanlam Life will contact you to confirm once approval has been granted.

For more information about the transfer process you are welcome to contact Sanlam Life on SGRclientcare@sanlam.co.za, or via our call centre.

Alternatively, feel free to access the details of the transfer which are also included on Sanlam’s website.

New and Improved Benefits

Disability Tax-modified Scale

An Income Disability insurance: Tax-modified scale ensures claimants’ tax-free disability income benefit do not exceed their after tax income immediately before disability.

Download brochure

Severe Illness

Severe Illness insurance, covering a wide range of claim events through tiered benefit payments, allows employees to put measures in place to deal with the financial setbacks that results from suffering a severe illness.

More

Accident Booster

Accident Booster cover allows employees to have access to their full potential life and disability insurance in the case of a claim as a result of an accident.

Download brochure

 

 

Life Insurancehttp://www.sanlam.co.za/corporate/groupriskbenefits/Pages/life-insurance.aspxLife InsuranceSanlam’s wide range of Group Life Insurance products is designed to provide your employees’ families with the financial support they need to keep going.When an employee dies, the spouse and dependents are often left without income. Life insurance provides a benefit on an employee’s death before retirement.http://www.sanlam.co.za/CoZaBannerImages/LifeInsurance_Banner.jpg?RenditionID=5, /CoZaBannerImages/LifeInsurance_Banner.jpg?RenditionID=5
Disability Insurancehttp://www.sanlam.co.za/corporate/groupriskbenefits/Pages/disability-cover.aspxDisability InsuranceSanlam’s Group Income Disability Insurance products assist employees in the event that an illness or injury prevents them from working by replacing lost income.Group disability insurance products assist employees if illness or injury prevents them from working, forces them to take a lower paid position (i.e. long-term disablement). http://www.sanlam.co.za/CoZaBannerImages/DisabilityCover_Banner.jpg?RenditionID=5, /CoZaBannerImages/DisabilityCover_Banner.jpg?RenditionID=5
Reality Access for SGRhttp://www.sanlam.co.za/corporate/groupriskbenefits/Pages/reality-access-for-sgr.aspxReality Access for SGRSanlam Group Risk has partnered with Sanlam Reality, Sanlam’s loyalty programme, to offer members of our group schemes value-adding services and discounts.All members of a Sanlam Group Risk (SGR) policy automatically qualify for Reality Access for SGR, a loyalty programme that rewards its members for living a financially responsible life.http://www.sanlam.co.za/CoZaBannerImages/banner_realityAccess.jpg?RenditionID=5, /CoZaBannerImages/banner_realityAccess.jpg?RenditionID=5

 Corporate Solutions

 

 

Group Risk Benefitshttp://www.sanlam.co.za/corporate/groupriskbenefitsGroup Risk BenefitsTo help employers protect their employees, Sanlam offers group risk products designed to insure employees in the event of illness or death while working.Group risk products are designed to insure employees and protect their families in the event of long-term illness or death while working.http://www.sanlam.co.za/corporate/PublishingImages/alexander-forbes-preview-banner.png, /corporate/PublishingImages/alexander-forbes-preview-banner.png
Financial Planninghttp://www.sanlam.co.za/corporate/Pages/financial-planning.aspxFinancial PlanningSanlam offers financial planning, management and consulting services for corporates. Contact us for advice or to help ease your administrative burden.Our consulting solutions are based on thorough research and world-class expertise, enabling you to make investment recommendations that remain relevant to your clients.http://www.sanlam.co.za/CoZaBannerImages/FinPlan.jpg?RenditionID=5 , /CoZaBannerImages/FinPlan.jpg?RenditionID=5
Retirementhttp://www.sanlam.co.za/corporate/retirementRetirementAt Sanlam, we help employers and advisers to work together with members to secure a bright financial future through cost-efficient retirement solutions.We strive to administer retirement funds in such a way that each member of a fund understands the reason for retirement savings and therefore the need for financial goal-setting.http://www.sanlam.co.za/CoZaBannerImages/Retirement.jpg?RenditionID=5, /CoZaBannerImages/Retirement.jpg?RenditionID=5
Investmentshttp://www.sanlam.co.za/corporate/Pages/investments.aspxInvestmentsPartner with us at Sanlam, one of South Africa’s largest and most experienced investment teams, to effectively plan your business venture investments.Running a professional business practice can be very challenging. At times you may feel like you're juggling more than you can comfortably manage.http://www.sanlam.co.za/CoZaBannerImages/Investments.jpg?RenditionID=5 , /CoZaBannerImages/Investments.jpg?RenditionID=5
Payments and Debit Order Collectionshttp://www.sanlam.co.za/corporate/Pages/debit-order-collections.aspxPayments and Debit Order CollectionsSanlam Multi Data is a secure payment and debit order service for SMEs, churches, schools and NPOs to safely manage their cash flow through a simple web system.Our electronic transaction service simplifies payments and debit order collections - the ideal solution for churches, NPO's, schools and any small to medium sized businesses.http://www.sanlam.co.za/CoZaBannerImages/multidata_preview_banner.png, /CoZaBannerImages/multidata_preview_banner.png
Achievementshttp://www.sanlam.co.za/corporate/Pages/achievements.aspxAchievementsSanlam makes employee benefits a top priority. This includes our umbrella fund solutions, group life and disability benefits, retirement funds, and more.At Sanlam, we strive to provide the best employee benefits by being a leader in our industry. Sanlam administrators are of South Africa’s most experienced employee benefits and investment teams and our multiple awards prove it.http://www.sanlam.co.za/CoZaBannerImages/ProfessionalsInsurance_LifeInsurance.jpg?RenditionID=5, /CoZaBannerImages/ProfessionalsInsurance_LifeInsurance.jpg?RenditionID=5

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