Yes, you can. Sanlam’s Income Protection benefits accommodate the various ways in which people earn an income and contribute to their household.

Income protection is not only available to those who work for an employer or are in permanent employment. It can also be taken out by contract workers, gig workers and those who are self-employed, for example. Cover has even been extended to those who were previously unable to get income benefits, such as stay-at-home parents and students.

What’s more, if you change your occupation, you don’t have to inform Sanlam of any changes. So if, for example, you leave your job as a tour operator to start your own business delivering homemade meals, this change won’t affect the terms of your cover.

Sanlam offers various types of income protection insurance. Each is designed to suit different needs. Our Sickness Income benefit, for example, is ideal for professionals and graduates, while our Impairment Income benefit provides an income for those who do not qualify for occupational disability cover, such as stay-at-home parents.

Speak to your financial planner to ensure you get the right income protection plan to suit your needs.

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

Yes, if you select this option. Our enhanced income protection benefits can offer cover that extends beyond your working years. It will provide you with an income if you suffer certain injuries or illnesses in retirement, such as a loss of eyesight or hearing, or loss of proper organ function. It will also kick in when you need frail care.

This cover provides added peace of mind should the worst happen, because retirement, after all, doesn’t mean your bills and financial obligations cease if you become severely ill or your injuries are too severe for you to take care of yourself. Pensions can’t always be stretched to cover the unforeseen, but this is where income protection can help.

Speak to your financial planner to ensure you get income protection that also addresses your retirement needs.

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

Sanlam’s Income Protection benefits offer comprehensive protection in the event that you are unable to work as a result of illness or injury.

However, there are cases in which you may still be able to work even though you’ve been diagnosed with a serious illness or suffered a serious injury. In such cases, you still don’t have to worry because Sanlam offers enhanced cover to help you meet the costs of living with certain physical disabilities and illnesses that affect your lifestyle. So you can continue to work, while safe in the knowledge that Sanlam’s Insurance will pay a regular amount to cover costs like wheelchairs and making alterations to your home to accommodate your health challenges.

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

Most products require medical tests and for you to set aside time to answer some questions about your medical history. This is to ensure you get the best cover possible for your needs.

If you are unable to obtain cover based on your medical history, Sanlam has a wide range of accident benefits to choose from. These benefits require no medical tests (like blood tests) or completion of health questionnaires, and can cover you for various injuries or the inability to work as a result of an accident.

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

Yes, your family can be covered if you select our Spouse Protector and Child Protector add-on benefits. Your income protection policy can then provide six monthly payments if your loved ones become seriously ill with one of the conditions covered by these benefits. This is because your income can also be impacted or diminished if you have to tend to your spouse or child if they become ill.

The insurance policy will help cover unexpected expenses, like taking time off work to care for them or hiring extra help.

If the worst were to happen, you’d want to be there for your family and not have to worry about your financial obligations too.

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

There are many companies struggling in the wake of the pandemic, and there’s a greater chance that some businesses will have to retrench staff in order to survive. Income protection doesn’t kick in if you lose your job through retrenchment or if you resign; rather, it pays when you are unable to work as a result of illness or injury. If you were to be retrenched, our income benefits can, however, continue to cover you for sick leave or occupational disability for up to 12 months while you are not working. This means that if something were to happen to you in these 12 months, resulting in you being on sick leave or becoming permanently unable to work, you will be covered despite not having been working at the time. The extent of cover provided depends on the benefits you have selected.

Outside of income protection benefits, there are solutions that could ease the financial burden that comes with retrenchment. Credit life cover, for instance, pays your loan instalments on your behalf for a period of 12 months if you are retrenched or suffer from a temporary disability and can’t work. The 12-month cover could give you the relief you need to recover from the shock of losing your job and tide you over until you are able to find another source of income.

In the event of a permanent disability or death, credit life insurance will pay out in full. Credit life insurance is sometimes offered by loan providers, but by law you are free to choose your own policy.

Speak to your financial planner about the best type of cover to suit your needs in the event of retrenchment, death or disability.

If you are self-employed, find out from your financial planner how much you’d need to save in order to cover yourself sufficiently should the worst happen, because credit life insurance generally does not extend to entrepreneurs.

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

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.