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Income Protection

Be certain of a regular income even if you cannot work.

If a serious illness or injury renders you unable to work, either temporarily or permanently, you and your family may experience significant financial strain. Sanlam’s income protection plan provides certainty of income in the event that you are unable to work. Contact us for a quote or speak to your financial planner.

Income Protection Cover

Ensure steady income no matter what.

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Whatever your needs, we’ve got you covered.

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Income Protection Cover

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

Sanlam's income protection cover offers maximum choice and flexibility at attractive rates. You can combine life insurance, disability severe illness 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.

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

  • If you own a business, an Income Protector benefit may 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 when you're able to work, but face 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.

You can select two optional benefits which will pay the cover amount for six months:

1. Spouse Protector

This benefit alleviates the financial strain you may suffer should your spouse gets a serious illness or pass away.

2. Child Protector

This benefit greatly alleviates the financial strain you may experience should your child suffer something like, a serious injury, which forces you to take some time off work. It will also pay out when your child is seriously ill, or passes away.

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. You could decide to use the payout to employ a stand-in 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 helps you meet your financial obligations, when you cannot earn an income as a result of illness or injury.

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 your dependents a monthly income when you die
  • A monthly payment means they 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.

Express cover offers a simplified underwriting process at competitive rates.

  • Get cover of up to R50 000 per month with no medical tests
  • You will answer only 13 health questions
  • You may be selected for a random Nicotine (smoker) test and a random verification of your height and weight
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.

  • You can add a Cashback benefit to your plan at an additional cost of 35% on premiums. With this benefit, if your cover is still intact for 15 years, you will receive a 100% of your premiums paid for this cover back in cash.
  • Contact your financial planner for more information on how to apply for the Cashback benefit and what it can mean for you

Sanlam Reality members on the Reality Plus and Reality Health membership options can get discounts of up to 30% on qualifying risk products. For more information on how to join, visit the Sanlam Reality website.

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Graduates and Professionals

Whether you’re a seasoned professional or you’ve just stepped out of university and into your first job, income protection is essential for maintaining your lifestyle and taking care of your family when life takes an unexpected turn.

Graduates

Being unable to work due to illness or injury can place you under serious financial strain. Ensure that you have the certainty of a regular income.

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Professionals

You never know when injury or illness can strike, impacting your earning ability. Ensure that your family is protected against sudden income loss.

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