You have the option of integrating your life cover policy with the Sanlam Reality Rewards programme, from which you can draw benefits. Sanlam Reality offers a host of rewards, discounts and benefits, and is South Africa’s second largest loyalty programme in the health and insurance sectors.

Please consult with a financial planner before you take any action regarding your policies.

There is no legal recommendation on this, but no one can force you to nominate a particular beneficiary on a policy. If your policy does not have a beneficiary nomination, then the proceeds will usually be payable to your estate when you pass away. This would require you (or your estate) to pay a small executor’s fee on the policy’s proceeds. You can also take out a policy for the purposes of creating liquidity in your estate (meaning cash can easily be unlocked for quick access when you pass away), in which case you wouldn’t nominate any beneficiaries.

Speak to your financial planner or Sanlam Trust regarding your options and estate planning in order to make the right decisions for your needs.

Please consult with a financial planner before you take any action regarding your policies.

It is always sensible to have a will and to update it regularly. However from a legal standpoint, you do not need a will to take out funeral cover as this benefit usually pays out on death to cover the funeral, and is not paid to the estate. The same applies for life cover which can be used to cover debt or given to beneficiary nominations. It all depends on your personal estate planning needs.

Please consult with a financial planner before you take any action regarding your policies.

While some funeral policies allow for younger ages, you have to be 15 or 18 years old for most benefits on policies. Speak to your financial planner to understand any specific restrictions relating to your policies.

Please consult with a financial planner before you take any action regarding your policies.

You can contact a financial planner or Sanlam Trust who will assist you directly. You can also draft a will online, print, sign and witness it and return to Sanlam Trust for safe custody in our Wills vault.

Please consult with a financial planner before you take any action regarding your policies.

A dependant is a person who is eligible to be covered by you under your policy because they rely on you financially. A beneficiary can be a person or a legal entity that is designated by you to receive a benefit, such as life insurance. For example, a parent is not an eligible dependant for medical coverage and can only be designated as a beneficiary.

Please consult with a financial planner before you take any action regarding your policies.

Beneficiaries or heirs do not have to be a natural person; you can leave your assets to a trust or a registered company.

Please consult with a financial planner before you take any action regarding your policies.

You cannot leave assets directly to your pet, meaning they cannot be added as a beneficiary. You can, however, leave your assets to someone to take care of your pet or you can leave the money in a trust.

Please consult with a financial planner before you take any action regarding your policies.

Although you need to be 18 years or older in order to take out a life cover policy of your own, children can be covered from as young as 15 years of age on their parent or legal guardian’s policy. There are also certain specialised children’s benefits available from an even younger age, for example, funeral cover or child illness cover on the life of a child.

Please consult with a financial planner before you take any action regarding your policies.

Yes, for death benefits you can appoint beneficiaries to benefit from your cover in the event that you pass away. These beneficiaries can be added or changed at any stage while you are alive.

Please consult with a financial planner before you take any action regarding your policies.

Yes, however, only if you are financially dependent on that person, for example, a spouse or business partner. It is also possible to take out funeral cover for someone you are financially responsible for, for example, your child, or a parent.

Please consult with a financial planner before you take any action regarding your policies.

Although both are payable at death, they aim to service very different needs. The purpose of life cover is to ensure your loved ones are looked after in the event of your death by providing them with some income when you are unable to do so, or settling outstanding debts and the costs associated with winding up your estate. Available life cover amounts can therefore be quite large in order to provide for all of these needs. On the other hand, the purpose of funeral cover is to provide for the cost of a funeral, and as such we aim to pay the claim out within 48 hours, after the necessary documentation is received.

Please consult with a financial planner before you take any action regarding your policies.

For life cover, on average it may take 10 working days because there are requirements that have to be met before a claim will be paid. For example, the verification of medical details. We aim to pay out as fast as possible, but we need to be notified as soon as possible and the claimant needs to ensure that all the requested information is completed and supplied correctly.

When it comes to funeral cover, we want to pay out within 48 hours in order to cover the costs of the funeral. You can also opt for the Immediate Expenses Benefit that will pay out within 48 hours so that your family can cover urgent costs and daily essentials, in addition to the funeral costs.

Please consult with a financial planner before you take any action regarding your policies.

Death as a result of an unforeseen pandemic such as COVID-19 is fully covered according to the standard terms in our contracts. In the case of funeral claims, we will take into account the waiting period for natural causes which applies to claims shortly after a policy is taken out.

Please consult with a financial planner before you take any action regarding your policies.