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Sanlam Comprehensive Gap Cover Plan

2020 Benefits

Individuals 59 years and younger
Families 59 years and younger
Individuals 60 years and older
Families 60 years and older


Tariff Shortfalls
The difference between the specialist’s fee and the medical scheme tariff.

Additional 5-times medical aid tariff

A sub-limit is a limit when a medical scheme imposes a Rand limit, known as a sub-limit, on certain in-hospital medical procedures or prosthetic devices and a shortfall occurs.

R52 100 per event/condition

The excess payable upfront to the hospital before treatment or a procedure.

Unlimited cover for specified procedures

A deductible is a co-payment payable by a member on admission to hospital.

Unlimited cover for specified procedures

Penalty Co-Payment

1 per family per annum (maximum R15 000)


The excess payable upfront to the hospital before treatment or a procedure.

  • MRI Scans: A CT scan is best suited for viewing bone injuries, diagnosing lung and chest problems, and detecting cancers. An MRI is suited for examining soft tissue in ligament and tendon injuries, spinal cord injuries, and tumours. CT scans are widely used in emergency rooms because the scan takes less than 5 minutes. An MRI, on the other hand, can take up to 30 minutes.
  • Oncology: Oncology is a branch of medicine that deals with cancers and tumours.

MRI/CT Scans: Unlimited
Oncology sub-limits: Limited to statutory maximum of R165 000 per insured per annum

Emergency Casualty Benefit
The Casualty Benefit will pay for the facility fee and consultation associated with admissions into the emergency room or casualty ward of a private hospital.

Up to R15 000 per event


Hospital Cash Benefit
A cash payment you receive for every day you spend in hospital due to an accident or premature birth (6 weeks or earlier).

If you’re a Sanlam Reality member, please refer to the Sanlam Reality section for more information on your Hospital Cash Benefit.

R 380 per day: Day 1 to 13
R 750 per day: Day 14 to 20
R1 500 per day: Day 21 to 30
Maximum of R25 190 per beneficiary per annum

Premature Birth
More than 6 weeks before due date.

R14 000 per event

Death/Permanent Disability
A single per Insured payment if the Insured dies or is disabled and unable to work in the given profession.

Accidental: R28 000 per member

Medical Scheme and the Sanlam Gap Policy Premium Waiver
Your medical aid payments will be covered for your family for up to six months up to a maximum of R5 500 per month in the event of death or permanent disability of the principal member.

6 months – Max R5 500 per month

Dental Reconstruction
Dental work in the event of trauma or cancers and tumours. Cosmetic work is excluded.

Up to R48 000 per event/condition

Road Accident Fund Claims (RAF)

An end-to-end legal service is provided by the nominated service provider of Kaelo Risk to assist Insured members with legitimate claims against the Road Accident Fund.

Retirement Annuity - Buy Online

Tax-free Savings - Invest Online

Unit Trusts - Invest Online

Sanlam Smart Invest is a platform designed to help you set your goals, and reach them more easily than ever before. Our simple and easy to use online unit trust investment process helps you plan your savings journey and ensure you achieve it.

Start Now

It's the smartest thing you'll do today.

Funeral Cover - Buy Online

I, the Primary Covered Person of the Family Funeral Plan or Accidental Death Plan indicated herein as the "Plan", am subject to the following:

  1. Sanlam icover is a division of Sanlam Developing Markets Limited, a registered long-term insurer and licensed financial services provider. All references to Sanlam or Sanlam icover refers to Sanlam Developing Markets Ltd.
  2. The Plan will be administered by Sanlam icover in South Africa. All amounts relating to the Plan, particularly payments and benefits, will be expressed, calculated and paid in South African currency. All claims payments will be made in South Africa.
  3. I accept that no advice was provided to me through a Sanlam appointed broker or advisor, and the decision to purchase the Plan online was taken in my personal capacity and on my own volition.
  4. I accept full responsibility for informing Sanlam icover of any changes to the identification information provided (e.g. surname change, contact details etc.)
  5. I am aware that in terms of the Financial Advisory and Intermediary Services Act, 37 of 2002 (FAIS), I may request a copy of any document that I or someone on my behalf submitted to Sanlam icover that pertains to this Plan.
  6. In terms of the Prevention of Organised Crime Act (number 121 of 1998), I guarantee that the funds with which any payment is or will be made to Sanlam icover, in terms of this Plan, are derived from a lawful source. In addition, I declare myself willing to answer any questions with regard to the origin of such funds and to provide additional information when required by Sanlam icover.
  7. I understand that all information that I have captured will be recorded electronically in Sanlam icover’s computer system, and that a Membership Certificate for the Plan which I have purchased will be sent electronically to the email address I provided as part of the online purchase process. The electronic records of Sanlam icover’s computer system will form the record of this Plan and may be used as evidence at any proceedings.
  8. I guarantee that all information herein is complete and correct. This guarantee applies also to information which in Sanlam icover's reasonable opinion is relevant to the insurance risk and which is contained in other documents or provided telephonically. If any of the aforesaid information is not complete or correct, Sanlam icover may cancel this Plan. If this happens, all premiums paid in terms of this Plan will be forfeited.

Medical Gap Cover - Apply Online Now

Sanlam Comprehensive Gap Cover Plan Individual or family monthly premium:

  • Individual
    0-59 years R200pm
    60+ years R400pm
  • Families
    0-59 years R352pm
    60+ years R700pm

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Experience the freedom and peace of mind of Go Cover.

Online Will - Draft Your Will

Personal Loans




Ask Sanlam

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 R52.50 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 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 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

  • 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 R36 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. B