Your financial planner will help you determine the maximum amount you can get, which will generally be in line with your current income after tax, given that an income payment from a disability benefit will be tax free. Any existing disability cover you already have will be deducted from the available amount, to avoid over insurance.

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

To ensure that your cover keeps up with inflation, you can opt to have it automatically increase with the consumer price index (CPI) on a yearly basis. You can also increase your cover at any other time subject to the maximum limit based on your income. When you request an increase, you will need to answer questions about your health and lifestyle, like you did when you originally applied for the policy.

You can also decrease your cover at any time, if affordability becomes a problem.

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

This depends on the benefit you have selected, as well as the options you have selected within the benefit, like the payment period and benefit end date. For income benefits providing short-term protection, there is a limit on how long you can claim for the same condition.

On the other hand, income benefits providing long-term protection can provide an income up to retirement or even death, depending on the options you have selected and the duration of your disability. Lump sum benefits can pay multiple times but will typically stop once the full cover amount has been paid. Under the Sanlam Disability Benefit, you can get a payout of more than 100% in certain instances.

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

If you have a pre-existing medical condition or have a high-risk hobby, you might be excluded for that condition or activity. If this is the case, it will be clearly communicated with you before you accept the cover. Certain other exclusions may apply, depending on the benefit you have selected. These will be clearly pointed out in your quote and contract documents.

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

Yes, you can; you can also take out a benefit to cover your business’ overhead expenses if you were to become unable to work.

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

An income protection benefit pays you a monthly income if you are unable to work for longer than the waiting period, due to being ill or injured, and suffer a loss of income as a result. A sickness benefit pays out if you are booked off by a doctor for longer than the waiting period.

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

A waiting period is how long you need to be unable to work, due to being ill or injured, before the benefit starts paying out. It can be as short as seven days or as long as 24 months. A shorter waiting period is more expensive, but pays out sooner. If you’re self-employed, you typically need a shorter waiting period as you do not have paid sick leave.

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

Your financial planner can help you determine the amount of cover you need, based on a range of factors like your income and age.

Ideally, you should cover your income to the extent that an insurance payout will enable you to retain your financial position if you were to become disabled, but if affordability is a problem, then some cover is better than no cover. Also bear in mind any existing income protection you may have (which would reduce the amount of Sanlam Income Protection you need). Selecting your cover amount to grow with inflation each year is generally advisable, so that the value of your cover does not reduce over time.

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

Salaried employees can be eligible for between 20-30 days’ sick leave in a 2-3 year cycle. If your sick leave runs out, your annual leave days are taken into consideration. When these have expired and you have still not recovered, unpaid leave is the only option left and this is when income protection is necessary, so that you can retain a form of income even when you cannot work. If you were to become permanently disabled, income protection is even more critical as most savings accounts will run out in a relatively short period, if you have no further future source of income.

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

Some benefits pay for a maximum period, for example, 2 years. Others pay until your selected retirement age, and others pay until you pass away. It depends on the benefit and option you have selected. In all instances, the benefit payout will stop once you have recovered.

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

You can also protect your income with a disability lump sum benefit. This benefit pays a lump sum rather than a monthly income, enabling you to, for example, pay off a loan if you were to become disabled. Most disability lump sum benefits only pay if you were to become permanently disabled, but Sanlam’s disability benefits offer Temporary Incapacity Cover, where you can also qualify for a payment for certain temporary conditions. Many clients protect their income with a combination of income and lump sum benefits.

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