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.
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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, severe 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.
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).
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:
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.
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
2. Post-retirement Impairment Income Benefit
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.
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.
Life happens, and it pays to be prepared. Sanlam’s wide range of comprehensive insurance products are aimed at helping you ensure your financial responsibilities are taken care of, even when you’re no longer able to do so yourself.