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Retirement Annuity

From R300 per month.

Extra 5% bonus.

Tax-free Investments

From R350 - R2750 pm or

R10 000 - R33 000 one-off.

Unit Trusts

Invest from R250 per month or

R5 000 lump sum.

Funeral Cover

From R25 per month.

Individual and family cover.

Medical Gap Cover

From only R252 per month.

Individual and family cover.

Go Cover

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Online Will

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Personal Loans

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The earlier you start saving, the better. If you cannot save the recommended amount, save whatever you can afford. You can also add some of your bonus payments to your retirement annuity.

The Sanlam Retirement Annuity is designed to inspire you to start saving for a comfortable retirement and to help you stay motivated to keep going and stay on track. It is one of the most cost effective savings options available, combined with investment peace of mind.

Your retirement savings are managed on your behalf
The Sanlam Retirement Annuity offers an investment facility where your savings are gradually switched as you get closer to retirement, at an extremely low cost. Therefore you do not have to study the markets yourself to make investment decisions - instead you have complete peace of mind for the duration of your investment.

Added value of the Echo Bonus
Sanlam will boost your retirement savings by adding an additional amount, called the Echo Bonus, at retirement or termination. The longer you save, the bigger the bonus.

Cost-effective savings option
The Echo Bonus makes the Sanlam Retirement Annuity one of the most cost-effective savings options in the market.

The Echo Bonus is an amount that will be added to your fund value when you retire, or end the plan. The more payments you make, the higher your Echo Bonus.

Your Echo Bonus is always a percentage of your fund value. The Echo Bonus percentage depends on the term for which payments have been made. The longer the term, the higher the Echo Bonus percentage.

The Echo Bonus percentages for the online Sanlam Retirement Annuity are indicated in the following table if you are paying recurring monthly payments.

Term in years Echo Bonus % (Recurring)
0 0
5 7
10 15
15 25
20 35
25 55
30 75
35 95
40 115

The Echo Bonus percentages for the online Sanlam Retirement Annuity are indicated in the following table if you are investing with a one-off payment.

Term in years Echo Bonus %
0 0
5 3
10 10
15 20
20 30
25 40
30 50
35 60
40 70

To receive retirement annuity benefits, you must be a member of a Retirement Annuity Fund. For the Sanlam Retirement Annuity, this is the Central Retirement Annuity Fund. You automatically become a member of the Central Retirement Annuity Fund when you take out a Sanlam Retirement Annuity.

The Central Retirement Annuity Fund takes out a plan with Sanlam Life Insurance Limited on the member’s life, in order to provide the retirement benefits. The Fund, and not the member, is the plan holder.

The current charges for the Sanlam Retirement Annuity:

Marketing and administration charge

The charge is calculated on a monthly basis, which means the percentage is divided by 12 to calculate the monthly amount. This charge is subject to a minimum rand amount that will be increased gradually over 24 months from R0 per month on the start date of the plan to R48.00 per month. This current minimum rand amount will be increased from time to time to allow for inflation.

The marketing and administration charge changes as the fund value increases to higher fund value bands. The following marketing and administration charge is applicable:

Recurring Fund value band Yearly marketing and administration charge % of the fund value of the plan
First R500 000 4.00
Excess above R500 000 3.50

 

If you prefer to select your own funds and will be investing recurring monthly payments, the following marketing and administration charge is applicable:

Fund value band Yearly marketing and administration charge % of the fund value of the plan
First R500 000 4.20
R500 001 - R1 000 000 3.75
Excess above R1 000 000 3.50

 

Investment Management Charges
An asset manager charges fees for investment research and selecting the underlying assets for a specific investment fund. These fees are taken into account in the calculation of the daily unit price of the investment fund. The published performance figures of the investment fund are therefor net of these fees.

Investment fund Yearly % of market value
SATRIX Dynamic Balanced Fund 0.2
Wealth Protector 0.4

If you select your own funds, the Investment Management Charge is the weighted average of the selected investment funds. The value of the Investment Management Charge for each of the available investment funds is shown on the fund selection table and in the fund fact sheet for that fund.

A transaction charge is applicable for each of the changes below. The charge is currently the smaller of R300 and 1% of the fund value.

  • Reducing or stopping of the recurring payment;
  • Taking an early retirement benefit;
  • Terminating the plan.

This transaction charge will not be taken for changes made after the planned retirement date.

If you are invested in the default fund and want to add the ability to select your own funds, you will be charged R300.

As soon as your application has been processed, you will have 30 days in which to examine the contract documents, and decide whether you wish to continue with the plan.

If the plan does not meet your requirements, and if you have not made any changes to it, you can cancel it by notifying us in writing during this period. We will then refund any payments you have already made. If the assets in which the payments were invested have decreased in value, or if you have already received benefits from the plan, we will reduce the amount to be refunded to you accordingly.

If you require further information on your Sanlam Retirement Annuity please phone our Client Care Centre on (021) 916-5000 or 0860 SANLAM (0860 726 526), or send us an e-mail at life@sanlam.co.za. Our compliance department can be contacted at the same number

If a recurring payment is applicable, the plan starts on the date that the first payment is collected. If we cannot collect the first payment on your preferred start date, we will collect the first payment one month later and move the start date accordingly.

If a one-off payment is applicable, the plan starts on the date that the payment is collected from your bank account. If we cannot collect the payment on your preferred collection date, we will collect the payment on the first possible date thereafter and move the start date in line with this.

Yes, the recurring payment will increase with the Sanlam inflation rate one year after the plan's start date, and on every plan anniversary thereafter.

The Sanlam inflation rate is determined taking into account the change in the consumer price index, or any other commonly accepted method of measuring inflation that may apply at the time. The Sanlam inflation rate may differ from published inflation rates, due to differences in calculation methods. A minimum rate applies, which may change from time to time.

Yes, you can add one-off contributions at any time after your plan has been issued. Please call the Sanlam Client Care Centre at 021 916 5000 or 0860 726 526 (SANLAM), or send an email to life@sanlam.co.za to arrange.

In your application, you need to indicate the date that you want the first payment to be deducted. If it is not possible to deduct the first payment on this date, we will deduct it one month later.

All payments are due on the same day of the month as the date selected for the first payment, or the first working day thereafter if the due date is not a working day.

Select the date for the first deduction to fall on or just after your salary payment date, to ensure that you have sufficient funds available.

The recurring payment can be increased, reduced or stopped. Contact the Sanlam Client Care Centre on (021)916-5000 or 0860 726 526(SANLAM) or send an e-mail to life@sanlam.co.za.

  • The minimum increase amount is currently R150 per month.
  • If you reduce the payment, it cannot be less than the minimum payment for a new plan. Currently this is R300 for investments of 20 years or longer, R400 for 15 to 20 years and R500 for 10 to 15 years if you are investing in the default investment option. If you select your own funds, the minimum payment is R500 for investments of 20 years or longer and R750 for 10 to 20 years.
  • The recurring payment may only be stopped if the remaining fund value of the plan will be at least R100 after deducting the transaction charge. If not, the plan will lapse.

If you select the default option, your money is invested in the Satrix Life Time Investment Option.

This option initially invests in a passively managed fund, tracking a basket of indices at a very low investment fee. This fund is moderately aggressive and can have a fair amount of fluctuations in short-term returns, in anticipation of higher real return over the long-term. Six years before your retirement date, your investments are phased into the Wealth Protector fund to protect your savings against the possibility of capital loss at your planned retirement date. It is important that you adjust the planned retirement date on your Sanlam Retirement Annuity should your retirement plans change.

If you prefer to select your own funds, we offer a range of quality investment funds. You can choose up to five funds at first, and can switch between the available funds at any time. The first four switches in any plan year are free.

We invest your full payment in the respective investment funds by buying units in each of these funds. The unit prices of the investment funds are not guaranteed, and may increase or decrease over time.

The total fund value of the plan is equal to the sum of the values of the underlying investment funds. The fund value for each investment fund is equal to the number of units you have in the fund multiplied by the unit price at the calculation date.

In the event of a claim, please inform us as soon as possible. To obtain the necessary claim forms and to ensure 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, documentary proof (e.g. a death certificate or medical report) will be required.

You can retire from your Sanlam Retirement Annuity at any time from age 55, or earlier in the event of ill-health.

The retirement benefit of the Sanlam Retirement Annuity is equal to the fund value of the plan less the transaction charge, if applicable. If you retire early, the Echo Bonus that is added to the fund value will be lower than it would have been if you had invested until your planned retirement date.

According to current legislation, up to one-third of the retirement benefit may be taken as a lump sum. The balance must be used to provide regular pension payments.

The fund value plus the Echo Bonus calculated to the date of death will be paid either as a lump sum or used to provide regular pension payments.

As required by the Pension Funds Act, the death benefit must be paid to the dependants and the nominees (if appointed) of the life insured. The trustees of the Sanlam Retirement Fund are responsible for allocating the benefit to the dependants and nominees.

How Tax-free Savings Accounts Work

  • Your money can grow faster in a tax-free savings account compared to a regular savings account because you don't pay tax on the investment return.
  • A tax-free savings account is therefore an effective way to save for your goals, because any interest, dividends or capital gains from your tax-free savings account will be free of tax.

Saving in a tax-free savings account gives you flexibility as you don’t have to commit to any future contributions. You can withdraw from your investment at any time. Withdrawing funds, however, may prevent you from reaching your savings goals, and will use up part of your lifetime limit for tax-free savings.

Contributions to a tax-free savings account are made from post-tax income.

A Tax-free Investment Account is therefore an effective way to save for your goals, because any interest, dividends or capital gains from your tax-free savings account will be free of tax.

No tax is payable on withdrawals.

National Treasury has put limits on the amount you can save in a tax-free savings account. The total annual contribution in a tax year may not exceed the annual contribution limit, which is currently R30 000 per tax year. The total lifetime contribution may not exceed R500 000. Make sure you keep track of how much you've paid so that you don't exceed your limit across all approved tax-free savings accounts (at Sanlam or other providers).

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.

If you invest more than the annual contribution limit stipulated by National Treasury, SARS will impose a tax penalty of 40% on excess contributions. To avoid penalties, make sure that your annual payments across all approved tax-free savings account (at Sanlam or other providers) stay below the limits.

It is compulsory to disclose the investment information when submitting your annual tax return. You will need to submit the IT3(s) statements provided by Sanlam or other providers to SARS when requested. Sanlam will also submit the information to SARS electronically.

The South African tax year runs from 1 March to 28 February of the next year.

Yes, you can apply for a Tax-free Investment on behalf of your child or other family member, but keep in mind that you will be using part of their tax-free allowance, which may limit their ability to save for themselves via this type of product later. Money withdrawn can only be paid out into a bank account which is in the family member’s name. Be careful of donations tax, if applicable.

A tax-free savings account can only be opened for an individual. You can open one for each individual in a family, but cannot open one in the name of a trust or a company.

Sanlam’s Tax-free Investment Offering

The Sanlam Tax-free Investment offers low fees and discounted investment management fees making it a competitive and cost-effective savings choice. As Wealthsmiths, we are dedicated to improving the savings culture in the country.

You can make monthly or one-off payments into a Sanlam Tax-free Investment. The payments in any tax year are limited to the annual contribution limit in that year. As of 1 March 2017, this is currently R33 000 per year. The total lifetime contribution limit is R500 000. If you go above these limits you will incur tax penalties.

  • If you choose to make monthly payments, you can pay between R350 and R2 750 per month. If you choose to select your own funds, the minimum contribution is R500 per month.
  • If you start with a one-off payment, you can pay between R10 000 and R33 000. If you choose to select your own funds, the minimum one-off payment is R15 000.

You can add additional one-off payments of between R2 750 and R33 000 in future, as long as your total payment in the tax year does not exceed the annual contribution limit.

The maximums above will be adjusted if the annual contribution limit is changed.

No, but you should decide upfront how long you plan to invest, as your fund allocation needs to be appropriate for your expected investment term.

If you used the default Satrix Life Time Investment Option, we use the expected investment term to manage the investment. Therefore, to ensure that we invest your funds appropriately, you need to inform us of any changes in the expected investment term.

If you select your own funds, you should review the underlying funds if your expected investment term changes.

The effect of compound interest, or earning investment return on investment return, is increased in a Tax Free Investment Account due to the tax relief on the investment return. The longer you invest, the more benefit you will get. The Sanlam Tax-free investment has a minimum investment term of 5 years, so that you benefit from the tax relief and get value for money.

FICA is only applicable of you make recurring payments of R25 000 or more per year, which is R2 083 or more per month.

If FICA is required, you will need to provide proof of identify and your residential address. One of our call centre agents will call you to make the necessary arrangements.

Fees and Charges

The current charges for the Sanlam Tax-free Investment consist of the administration charge plus the Investment Management Charges. The current charges are:

Administration charge
This fee is a percentage of the fund value. The charge is calculated on a monthly basis, which means the percentage is divided by 12 to calculate the monthly amount. This charge is subject to a minimum rand amount that will be increased gradually over 24 months from R0 per month on the start date of the plan to R40.00 per month if you invest in the default fund or R45.00 if you add the ability to select your own funds. This current minimum rand amount will be increased from time to time to allow for inflation.

Fund size range Yearly marketing and administration charge % of the fund value of the plan
0 1.45
R1 200 000 and thereafter 0.20

Investment Management Charge

An asset manager charges fees for investment research and selecting the underlying assets for a specific investment fund. These fees are taken into account in the calculation of the daily unit price of the investment fund. The published performance figures of the investment fund are therefor net of these fees.

The Investment Management Charge for the default Satrix Life Time Investment Option is 0.6% per year for the underlying funds.

If you select your own funds, the Investment Management Charge of your plan is the weighted average of the Total Investment Cost of the selected investment funds.

The Total Investment Cost for each of the available investment funds is shown on the fund selection table and in the fund fact sheet for that fund - View Fund Fact Sheets

There will be no transaction charge for any of the following:

  • Reducing or stopping of a recurring payment;
  • Withdrawals from the plan
  • Terminating the plan

You will be charged R 300 to add the ability to select your own funds to a plan that currently invests in the default Satrix Life Time Investment Option.

Making Payments into a Tax-free Investment

Recurring payments into the Sanlam Tax-free Investment are payable by debit order.

One-off payments at the start of the plan are also payable by debit order.

You can add additional one-off payments during the lifetime of the plan on Sanlam Secure Services or by contacting the Sanlam Client Care Centre at 021 916 5000 or 0860 726 526 (SANLAM), or send an email to life@sanlam.co.za.

You can access Sanlam Secure Services via the Login button on www.sanlam.co.za.

You need to select the date you want the first payment to be taken off your bank account. If it is not possible to take off the first payment on this date, we will take it off one month later.

All payments are due on the same day of the month as the date selected for the first payment, or the first working day thereafter if the due date is not a working day.

Select the date for the first payment to fall on or just after your salary payment date, to make sure that you have enough funds available.

You can choose your monthly payments to remain the same or increase yearly on the plan's anniversary. Payments can increase at a fixed rate or at the Sanlam inflation rate. Sanlam will limit the annual payment increase to make sure that your payments in a tax year do not exceed the annual contribution limit.

Yes, you can add one-off payments at any time after your plan has been issued. The minimum additional one-off payment is R2 500. You can add one-off payments by registering on Sanlam Secure Services on www.sanlam.co.za and then select the ‘Invest more’ link in respect of the applicable Tax-free Investment plan displayed in your portfolio. You can access Sanlam Secure Services via the Login button on www.sanlam.co.za.

You can also add additional one-off payments by contacting the Sanlam Client Care Centre at 021 916 5000 or 0860 726 526 (SANLAM), or send an email to life@sanlam.co.za.

The recurring payment can be increased, reduced or stopped. Contact the Sanlam Client Care Centre on (021)916-5000 or 0860 726 526(SANLAM) or send an e-mail to life@sanlam.co.za.

  • The minimum increase amount is R350 per month.
  • If you reduce the payment, it cannot be less than the minimum payment for a new plan at that time. This is currently R350 per month if you invested in the default option and R500 per month if you selected your own funds.

If a recurring payment is applicable, the plan starts on the date that the first payment is made. If we cannot collect the first payment on your preferred start date, we will collect the first payment one month later and move the start date in line with this.

If a one-off payment is applicable, the plan starts on the date that the payment is collected from your bank account. If we cannot collect the payment on your preferred collection date, we will collect the payment on the first possible date thereafter and move the start date in line with this.

The Sanlam inflation rate is worked out considering the change in the consumer price index, or any other commonly accepted method of measuring inflation that may apply at the time. The Sanlam inflation rate may differ from published inflation rates, due to differences in calculation methods. A minimum rate applies, which may change from time to time.

Investment Options

If you select the default option, your money is invested in the Satrix Life Time Investment Option for Tax-free Investments.This option invests in the Satrix Balanced Index Fund and the Satrix Low Equity Balanced Index Fund. We manage the allocation to these funds on your behalf. If the investment term is longer than 10 years, all funds are initially invested in the Satrix Balanced Index Fund. This fund is moderately aggressive and can have a fair amount of fluctuations in short-term returns, in anticipation of higher real return over the long-term. If the remaining expected investment term is less than 10 years, the funds are gradually switched to the Satrix Low Equity Balanced Index Fund, a fund with more stable investment returns. Both of these funds are passively managed funds, tracking a basket of indices.

If you prefer to select your own funds, we offer a range of quality investment funds. You can choose up to five funds at first, and can switch between these funds at any time. The first four switches in any plan year are free. You can get more information on the available funds in their fund fact sheets.

In the Satrix Life Time Investment Option for Tax-free Investments we manage your investment on your behalf. This option invests in the Satrix Balanced Index Fund and the Satrix Low Equity Balanced Index Fund. Both of these funds are passively managed funds, tracking a basket of indices. The allocation to these funds is based on the expected investment term.

If the expected investment term is longer than 10 years, all funds are invested in the Satrix Balanced Index Fund. This fund is moderately aggressive and can have a fair amount of fluctuations in short-term returns, in anticipation of higher real return over the long-term.

From ten years before the end of your expected investment term, 2.5% of your investment is switched to the Satrix Low Equity Balanced Index Fund every quarter, a fund with more stable investment returns.

If your expected investment term at the start of the plan is shorter than 10 years, your investment is allocated to both the funds. For example, if your expected investment term is 5 years, 50% of your investment will be allocated to each of the funds.

It is important that you adjust your plan if your expected investment term changes to ensure that your investment is allocated appropriately. Contact the Sanlam Client Care Centre on (021)916-5000 or 0860 726 526(SANLAM) or send an e-mail to life@sanlam.co.za.

Satrix

Vertical axis = Fund allocation
Horizontal axis = Remaining term

On a Comprehensive plan If you selected your own funds, you can switch your investment funds at any time. You have four free switches a plan year. Thereafter a switching fee of R 750 will be charged per switch.

On a Core plan If you selected the default investment option, your funds are invested in the Satrix Lifetime Investment Option for Tax-free Investments. We manage your investment on your behalf. We will gradually switch your funds to a more stable investment. All of these switches are free.

We invest your full payment in the underlying investment funds by buying units in each of these funds. The unit prices of the investment funds are not guaranteed, and may increase or decrease over time.

The total fund value of the plan is equal to the sum of the values of the underlying investment funds. The fund value for each investment fund is equal to the number of units you have in the fund multiplied by the unit price at the calculation date.

Investment funds can invest in multiple asset classes or a single asset class. For funds with a single asset class, the fund mandate describes the asset class (e.g. equity, cash or property). For funds with multiple asset classes, the fund mandate describes the investment risk profile (e.g. cautious, moderate or aggressive):

CONSERVATIVE: Conservative investments provide modest returns with a high degree of capital security. A typical portfolio will consist primarily of income orientated asset classes such as cash, bonds and property, with very little exposure to equities. The expected return may be close to inflation. There is therefore a risk that the real value of an investment may reduce over time, after taking fees and taxes into consideration.

CAUTIOUS: Cautious investments provide stable returns with limited risk of capital loss. A typical portfolio will consist primarily of income orientated asset classes such as cash, bonds and property, with limited exposure to equities.

MODERATE: Moderate investments should generate real returns by outperforming inflation over the longer term, but will at times experience short-term negative returns. A typical portfolio is diversified over all major asset classes to provide a balance between risk and return. There is a moderate risk of capital losses in the short term.

MODERATELY AGGRESSIVE: Moderately aggressive investments can have a fair amount of fluctuations in the short-term returns, in anticipation of higher real returns over the long -term. A typical portfolio is diversified over all major asset classes, with a bias towards equities to create real capital growth over the long term. There is a substantial risk of capital losses in the short -term.

AGGRESSIVE: Aggressive investments aims to maximise real return over the long term, but may experience severe short-term negative returns. A typical portfolio is diversified over all major asset classes, with a strong bias towards equities in order to significantly outperform inflation over the long term. There is a significant risk of capital losses in the short term.

Multi-asset class funds offer exposure to various asset classes including cash, equity, bonds and property. In a passively managed multi-asset class fund each underlying asset class tracks the return of its respective index. For example, in the SATRIX Balanced Index Fund the property exposure is managed to deliver the performance of the FTSE/JSE SA Listed Property Index (J253). The composite index simply combines the underlying indices, each with a specified weight.

A passive or index-tracking fund is used to follow the performance of a specified underlying index as closely as possible. An index is a grouping of shares or other securities. Indices can be constructed to represent the overall market or a specific sector or theme. This makes it possible for individual investors to obtain the performance of an index.

Satrix funds are managed by full replication, which means the fund will hold exactly the same underlying securities as the index, in exactly the same weights. Any changes that are applied to the index will also be applied to the index-tracking fund.

Passive management is an investment strategy based on tracking an underlying index, with the aim of delivering performance as close to that of the index as possible. An index-tracking fund is therefore constructed to match the specified index.

Actively managed funds are constructed to differ from the index that is used as their benchmark. Following rigorous company analysis, active managers make specific investment decisions with the aim of constructing a fund that outperforms the relevant benchmark. The outcome of these investment decisions will determine whether the active fund performs better or worse than the index.

The fees associated with active management are higher than those associated with passive management.

Account Information

After the start date of your plan, you can get information on Sanlam Secure Services. You can register using your plan number by going to the Secure Services link under Login on www.sanlam.co.za. Alternatively, you can contact the Sanlam Client Care Centre at 021 916 5000 or 0860 SANLAM (0860 726 526), or send an email to life@sanlam.co.za.

You can register for Sanlam Secure Services and then get information online about your Sanlam products.

Go to www.sanlam.co.za and click on Login. Select the Secure Services link on the Login menu. You can use your plan number to register for Secure Services.

Once your application has been processed, you will have 30 days in which to examine the contract documents and decide whether you wish to continue with the plan.

If the plan does not meet your needs, and if you have not made any changes to it, you can cancel it by letting us know in writing during this period. We will refund any payments you have already made. If the assets in which the payments were invested have decreased in value, or if you have already received benefits from the plan, we will reduce the amount to be refunded to you in line with this.

If you need further information on your Sanlam Tax-free Investment please phone our Sanlam Client Care Centre on 021 916 5000 or 0860 SANLAM (0860 726 526), or send us an email at life@sanlam.co.za. Our Compliance department can be contacted at the same number.

When you get advice from a registered financial planner, and buy a product through that broker or advisor, you are protected under the Financial Advisory and Intermediary Services (FAIS) Act of 2002. This means that if you are not satisfied with the advice you received and the manner in which we responded to a complaint you may have had, you can submit a formal complaint to the FAIS Ombud.

If you purchase a financial product directly from a product provider without the help of a broker or advisor, you take full responsibility for your decisions.

You can at any time contact a Sanlam financial planner to get advice on your fund choice. If you selected your own funds, you can add a fee for advice to your existing plan. Contact the Sanlam Client Care Centre on (021)916-5000 or 0860 726 526(SANLAM) or send an e-mail to life@sanlam.co.za. Alternatively, you can submit an enquiry/request online at: www.sanlam.co.za/contact/getadvice/Pages/default.aspx

If you provide Sanlam with your tax number, Sanlam will submit your information electronically to SARS. This will make it easier to complete your annual tax return.

Contact the Sanlam Client Care Centre on (021)916-5000 or 0860 726 526(SANLAM) or send an e-mail to life@sanlam.co.za.

You will need your plan number, the beneficiary’s full names, ID number, and the percentage of the benefit that you wish to allocate.

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.

A unit trust is an investment vehicle which gives you affordable access to the financial markets without having to buy the assets yourself. When you invest in a unit trust the money is pooled with that of other investors. This pool of money is used to invest in a portfolio of assets such as equities, bonds, cash and property, depending on the objective of the unit trust. The unit trust is divided into units of equal value, which will be allocated to you according to the amount of money you invest and the price of the units on that day.

  • A unit trust enables you to access and benefit from investments at a much lower cost than if you buy them directly on the security market.
  • From R500 a month you enjoy access to professional investment managers and index tracking funds, offering you local and international investments.
  • Unit trusts have no lock-in period, meaning that you decide when and how many units to buy, which you will own until you decide to sell them.
  • Unit trusts are also well protected in South Africa and regulated by government legislation and industry standards.

Each fund has an investment minimum which is disclosed on the minimum disclosure document (also known as fund fact sheet). You can invest a once-off amount (lump-sum), regular monthly amounts or if you are an existing investor, you can make additional investments when it suits you.

The cost associated with each fund is available in the Minimum Disclosure Document (fund fact sheet) so that you can make an informed choice.

  • Advisory Fees
    • No advisory fees are payable on unit trusts purchased on this website. You may negotiate on-going advisory fees with a financial planner in future if you require advisory services.
  • Management Fees
    • Fees payable to the fund manager for the investment management. This is shown in the Minimum Disclosure Document of each fund.
  • Total Expense Ratio (TER)
    • The total expense ratio is a measure of the total costs, fees and expenses that were incurred and levied in the fund over a 12-month period.
    • The TER will include all costs and expenses necessary for the normal operation of the unit trust fund including management fees, but will exclude advisory fees.
    • Each fund will have a different TER which can be seen on the Minimum Disclosure Document.

The Effective Annual Cost (EAC) is a measurement that aims to standardise cost disclosures across different investment products. It is expressed as an annualised percentage and is made up of four components (investment management charges, advice charges, administration charges and other charges), which are added together. The EAC shows the extent to which the investment return will be reduced by charges over a specified period. The lower the EAC, the more cost-effective an investment is.

A number of Sanlam Unit Trust funds are available. They are categorised based on risk profile to suit investors different investment objectives and timeframes, as well as different levels of tolerance for investment risk. The investment mandate of a specific fund is linked to its risk profile and will determine which assets the fund can invest in.

Available funds can have one of the following investment risk profiles:

CONSERVATIVE: Conservative investments provide modest returns with a high degree of capital security. A typical portfolio will consist primarily of income orientated asset classes such as cash, bonds and property, with very little exposure to equities. The expected return may be close to inflation. There is therefore a risk that the real value of an investment may reduce over time, after taking fees and taxes into consideration.

CAUTIOUS: Cautious investments provide stable returns with limited risk of capital loss. A typical portfolio will consist primarily of income orientated asset classes such as cash, bonds and property, with limited exposure to equities.

MODERATE: Moderate investments should generate real returns by outperforming inflation over the longer term, but will at times experience short-term negative returns. A typical portfolio is diversified over all major asset classes to provide a balance between risk and return. There is a moderate risk of capital losses in the short-term.

MODERATELY AGGRESSIVE: Moderately aggressive investments can have a fair amount of fluctuations in the short-term returns, in anticipation of higher real returns over the long-term. A typical portfolio is diversified over all major asset classes, with a bias towards equities to create real capital growth over the long term. There is a substantial risk of capital losses in the short-term.

AGGRESSIVE: Aggressive investments aims to maximise real return over the long-term, but may experience severe short-term negative returns. A typical portfolio is diversified over all major asset classes, with a strong bias towards equities in order to significantly outperform inflation over the long-term. There is a significant risk of capital losses in the short-term.

Once you have opened your unit trust fund, register on Sanlam’s Secure Service site to access and manage your portfolio online. Simply go click on Secure Service and follow the easy steps to complete your registration. You will have access to your portfolio information 24/7 at your convenience.

Alternatively, you can contact the Sanlam Collective Investment Client Contact Centre at 0860 100 266 or service@sanlaminvestments.com.

Should you have any enquiries or require additional assistance, please contact the Sanlam Collective Investments Client Contact Centre on 0860 100 266 or service@sanlaminvestments.com.

The income and capital gains from your unit trust investments are taxable and you need to report it on your income tax return. Sanlam Collective Investments send investors tax certificates annually at the end of May. If a capital gain or loss is incurred, this is reflected on the IT3(c) tax certificate and the investor may be liable for Capital Gains Tax (CGT).

Interest income and dividends are reflected on the IT3(b) tax certificate. Tax on dividends is withheld, while interest income for RSA taxpayers is paid excluding tax. Dividends Tax are withheld at 20% in line with tax legislation. If you qualify for a reduction in the Dividends Tax rate or an exemption, your withholding tax rate will be adjusted upon receipt of the relevant Dividends Tax Form. You can find the form on the Sanlam Collective Investments website at www.sanlaminvestments.com.

Certain non-SA investors may qualify for an exemption from or a reduced rate for withholding tax on interest or may qualify for a reduced rate in dividends tax. In order to qualify for this, please complete the Withholding Tax on Interest Declaration Form (WTI) and/or the Dividends Tax Form (DTD) (RR), available on the Sanlam Collective Investments website at www.sanlaminvestments.com.

Remember to consult your financial planner on how to structure your investments optimally.

This Plan will pay when someone covered on the policy dies.

Yes. You can make changes to the Plan such as adding a family member or a spouse/partner to the Plan, increasing/decreasing the amount of cover and choosing a new beneficiary.

Premiums will increase as your loved ones get older and move through the age bands for example when a child becomes an adult. You will be told about premium increases at least 30 days before it happens.

This Plan will not pay out in the case of:

  • Suicide in the first 24 months from when the Plan starts
  • Intentional, self-inflicted injuries or deliberate exposure of the covered person to unnecessary danger
  • War, invasion, act of a foreign enemy, hostilities (whether war be declared or not), terrorism, civil war, rebellion, revolution or any occurrence incidental to or arising from any of the aforementioned or any attempt at any of the aforementioned
  • Radioactivity or nuclear explosion
  • Any act or omission by the covered person which is in violation of any law
  • Natural causes in the first 12 months from the start of the Family Funeral Plan. All covered persons are covered for accidental death only during the first 12 months from the commencement date of the Plan. All causes of death are covered thereafter.
  • Natural causes in the first 12 months of an additional covered person being added to the Plan by the primary covered person. This exclusion however, does not apply where a child turns 21 and is added as a member on the Plan immediately as an additional covered person by the primary covered person.

You and your loved ones covered under this Plan will be covered from the date your first premium is paid. Your membership certificate with all personal details of covered persons, will be sent to the email address you gave during the online purchase process.

Any person who is between the ages of 18 and 64 years at the start of the Plan; and who has a valid South African identity number can take out this Plan. All covered persons must be South African citizens with valid South African identity numbers. The person who buys the Family Funeral Plan is covered as the primary covered person, and their children are covered automatically.

Covered persons could be:

  • The spouse/partner of the primary covered person (older than 18 years)
  • Parent/s and parent/s-in-law of the primary covered person but only if the spouse/partner is a member of the plan
  • Adult brothers and sisters of the primary covered person
  • Adult children
  • Children born or adopted after the start date of the Plan

The Family Funeral Plan provides cover for covered persons from the start of the Plan for the whole of the covered person's life, or for as long as you pay the premiums, and/or until you die.

Yes, you may cancel the Plan within one month from the starting date. To cancel the Plan within the one-month cooling-off period, contact Sanlam iCover on Sharecall 0860 426 837 (0860 iCover) to tell us that you wish to cancel the Family Funeral Plan . Sanlam will refund all premiums already paid, less expenses and costs incurred in respect of the Plan up to cancellation.

Claims are paid within 48 hours, after all supporting documents for example death certificate have been received and verified by Sanlam.

In certain cases the cost for in-hospital procedures or outpatient treatment may exceed the base medical aid rate by 5-times. By taking out Sanlam Medical Gap Cover Insurance, you ensure that you and your family aren’t left with a large excess amount to settle.

  • You need to be an existing member of a registered medical aid scheme.
  • Gap cover extends to the principal member, their spouse and children up to age 26. Families covered on 2 medical aids will be covered by a single Sanlam Gap Cover policy.
  • Special dependents may be included.

Yes, the following waiting periods apply:

  • A general waiting period of 3 months on all benefits.
  • 12 months for pre-existing conditions for which you received advice or treatment during the 12 months prior to the cover commencing.
  • Treatment for obesity, including bariatric surgery (stomach stapling).
  • Treatment for cosmetic surgery unless necessitated by a trauma or as a result of oncology treatment (e.g. breast reconstruction following a mastectomy).
  • Any co-payment that is not a defined rand amount (i.e. it is applied as a percentage). Please note that this excludes the oncology co-payment cover.
  • Specialised Dentistry is only paid for on the Sanlam Gap Cover Comprehensive Plan in the event of trauma, cancers and tumours.
  • Claims older than 6 months.