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Income Protection

Have the certainty of a regular income even if you cannot work.

Being unable to work, either temporarily or permanently, because of serious illness or injury can place you and your family under serious financial strain. Sanlam salary protection policies provide certainty of income in the event that you are unable to work. Contact us for an Income Protection quote.

Income Protection Cover

Ensure steady income no matter what.

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Income Protection Cover

Excellent cover at attractive rates, with the flexibility to add to your benefits.

Sanlam's life insurance cover offers maximum choice and flexibility as well as higher cover amounts at attractive rates. You can combine life insurance, disability cover, critical illness cover and income protection with additional offerings, such as accident cover. The type and level of cover you need depends on your personal needs and circumstances. We recommend that you speak to a financial planner to help you select the most appropriate cover.

An Income Protector benefit ensures a steady, tax-free monthly income to meet your financial obligations if you lose part or all of your income due to being temporarily or permanently unable to work.

  • If you own a business, an Income Protector benefit can enable you to employ someone to run the business in your absence
  • If you work for a company, the benefit can plug the expense gap if the cover put in place by your employer isn't enough
  • It can also top up your salary during times when you're able to work, but have additional expenses due to certain life events
  • We will waive the payments made on the plan while we make an income payment

Our Income Protector benefits are categorised into short-term and long-term benefits and can be combined depending on your needs. The Temporary Disability Income benefit and Overhead Expenses Protector benefit will insure your income for the short term (up to 24 months).

Temporary Disability Income Benefit


This benefit pays a monthly income should you lose all or part of your income when illness or injury leaves you unable to work. For certain claims, such as various fractures and ligament injuries, you will receive an income irrespective of whether you actually lose your income. This benefit is typically combined with the Extended Disability Income benefit to provide continuous cover.

Two optional benefits are available under this benefit, which will pay the cover amount for a period of six months:

1. Spouse Protector

This benefit greatly alleviates the financial strain you would suffer if something happens to your spouse. Consider, for instance, the impact of having to pay for a nurse, should your spouse become seriously ill. It pays out when your spouse gets a serious illness or passes away and covers events such as cancer, heart attack, liver failure and a stroke.

2. Child Protector

This benefit significantly alleviates the financial strain you would suffer if something happens to your child, such as a serious injury, which forces you to take some time off work. It will pay out when your child is seriously ill, injured, or passes away. Some of the events that are covered include:

  • Various diseases, such as cancer, organ failure, Crohn's Disease, epilepsy and anorexia
  • Injuries or accidents such as head injuries, rib fractures, gunshot wounds, dog bites and near-drowning
  • Impairments, such as loss of sight, hearing, speech and loss of the use of limbs
  • Infections, such as rabies, tetanus, meningitis and the Ebola virus

Overhead Expenses Protector Benefit


When you are temporarily unable to work due to illness or injury, this benefit will allow your business to continue operating. It pays a monthly amount for up to 24 months, which can help cover your business's overhead expenses. You could decide to use the payout to employ a locum to run the business in your absence.

Our Income Protector Benefits are categorised into short-term and long-term benefits and can be combined depending on your needs. The Extended Disability benefit, Total and Permanent Disability Income benefit and Death Income benefit will insure your income for the long term.

Extended Disability Income Benefit


This benefit pays a monthly income that enables you to meet your obligations, such as school fees, groceries and mortgage payments, if you lose all or part of your income when illness or injury leaves you unable to work. You can opt to add the Pre-retirement Impairment Income benefit to provide financially if you suffer a permanent functional impairment before retirement. If you select whole life cover, you will be covered by the Post-retirement impairment income benefit, which will provide financially if you were to live with an impairment in retirement.

1. Pre-retirement Impairment Income Benefit

  • This benefit pays if you suffer a functional impairment before retirement
  • You'll receive up to 100% of the cover amount as an income when you suffer a permanent functional impairment, such as the loss of eyesight or hearing, or loss of proper organ function
  • The benefit will assist with the additional costs associated with suffering and living with an impairment, even if you're still able to work
  • The benefit will pay until you reach the age selected for your cover to end or 70 years, whichever comes first

2. Post-retirement Impairment Income Benefit

  • This benefit will pay if you live with a functional impairment during retirement
  • You'll receive up to 50% of the cover amount as an income when you suffer a permanent functional impairment, such as the loss of eyesight or hearing, or loss of proper organ function
  • It will assist with the additional costs associated with living with an impairment during retirement, which can put significant strain on your pension income
  • The benefit will pay for the remainder of your life

Total and Permanent Disability Income Benefit


  • This benefit will pay if you become totally and permanently unable to perform your occupation due to illness or injury
  • It pays a monthly income until the age you selected when you took out the cover
  • In most cases you'll receive 100% of the cover amount as an income
  • It will not pay out on temporary disability

Death Income Benefit


  • This benefit will pay if you die
  • It pays a monthly income to your dependents until the cover cease date
  • Sanlam will pay your dependents for at least five years, even if you die shortly before the cover cease date
  • By receiving a monthly payment rather than a lump sum, your dependents don't need to be burdened with the financial responsibility of investing and managing a lump sum. You will also have the peace of mind that the cover will not run out.

When you take out life insurance, various types of underwriting like medical tests and questions about your lifestyle and occupation take time and therefore affect how long it takes to issue your plan. At Sanlam we know that your time is precious and we know that some people really don't like the idea of going for medical tests.

That's why we now offer you a choice between two options:

Express cover offers a simplified underwriting process at competitive rates.

  • Cover of up to R1 million requires no medical tests and you would need to answer only seven health questions
  • For cover above R1 million, we will ask only 12 health questions and you may be selected for a random Nicotine (smoker) test and a random verification of your height and weight
  • Random Nicotine tests are only applicable to non-smokers and do not necessarily need to involve a blood test - we also accept urine tests
Matrix cover involves traditional underwriting which involves a longer list of health questions and could include medical underwriting requirements like blood tests, medical examinations and past reports. In exchange, it provides a larger selection of benefits and higher amounts of cover at our most competitive rates.

Sanlam Reality members on the Reality Plus and Reality Health membership options can get discounts of up to 30% on qualifying risk products.
Speak to a financial planner and find out more.

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