For all your Wealth Bonus benefits, if you keep the product for long enough, the full amount will eventually unlock and become yours. But if you cancel or lapse, any locked Wealth Bonus will be lost.
Sanlam Personal Loans
Unlocked money is automatically paid directly into your personal bank account.
Sanlam Indie and Matrix Premier
Unlocked money stays invested along with the rest of your Sanlam Indie and Matrix Premier Wealth Bonus and can be withdrawn as cash at any time.
Sanlam Money Saver credit card
Money unlocks quarterly or annually. When money unlocks, it transfers automatically to your Easy Equities account.
Sanlam Cumulus Echo Retirement Plan and Sanlam Cumulus Echo Preservation Fund
All Wealth Bonus that your Cumulus Echo Retirement Plan or Sanlam Cumulus Echo Preservation Fund unlocks when the product matures. At that point, the full benefit pays out automatically along with the product.
Sanlam Retirement Plan
50% of your Wealth Bonus unlocks at age 55. Unlocked money can only be paid directly into your personal bank account or transferred to your Easy Equities account.
Sanlam Wealth Edge Endowment Plan
Money unlocks and pays out when your endowment matures.
Whenever money unlocks and becomes available for withdrawal, you’ll be notified by email and/or SMS. You can check your communications preferences to change where we send these notifications.
No. A product’s Wealth Bonus is a loyalty benefit that you get as a reward for staying a client. To get a product’s full Wealth Bonus payout, you have to keep that product active until the full amount unlocks.
The Wealth Bonus Portal allows you to withdraw unlocked money directly into your personal bank account. If you choose to withdraw the money to your bank account, it will take up to 4 business days to reflect.
Sanlam Indie and Matrix Premier allow you to keep unlocked money invested and withdraw it any time. When you withdraw unlocked money from your Wealth Bonus, you need to select a bank account linked to one of your products to transfer the money into. We then transfer the money to you as cash. It will take up to 4 business days to reflect in your bank account.
If you don’t have a bank account listed on your Dashboard, please contact us to have one added.
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To check whether you have unlocked money available for withdrawal, log in to your Dashboard and go to the Unlocked tab. The Unlocked tab shows how much money you have available to withdraw, and when more money will unlock in future.
Note that some products will transfer money out of your Wealth Bonus as soon as it unlocks. These rules are subject to change, so check with your product provider.
When money unlocks, you can:
Sanlam Cumulus Echo Retirement Plan and Sanlam Cumulus Echo Preservation Fund
Your Cumulus Echo Retirement Plan or Sanlam Cumulus Echo Preservation Fund Wealth Bonus stays locked until the product matures.
When money that you earn from your Sanlam Money Saver credit card unlocks, it immediately transfers to your Easy Equities account. You can’t choose to leave this money invested in your Wealth Bonus.
The Wealth Bonus is tied to your endowment and can’t be withdrawn separately.
Wealth Bonus is for the plan holder. This is the person who took out the policy or product. It does not belong to:
The plan holder can be a natural or juristic person. A “natural person” means a real, human person. A “juristic person” means an organisation that has the same legal rights as a natural person. For example, a juristic person could be a trust or corporation.
When the plan holder is a juristic person, usually a natural person would act as the plan holder’s authorised representative. This person would have access to the plan holder’s Wealth Bonus Dashboard and be able to manage the plan holder’s Wealth Bonus. You can contact Sanlam Secure Services if you need to register as or nominate an authorised representative.
When the plan holder dies:
All unlocked money is yours and always will be.
Sanlam Indie and Matrix Premier allow you to keep unlocked money invested. You can withdraw some or all of this unlocked money whenever you like.
When you cancel or lapse your Sanlam Indie or Matrix Premier product, we’ll pay out any unlocked money from its Wealth Bonus benefit.
Unlocked money that you leave in your Wealth Bonus will continue to track the market.
Over time, this money should grow* with the market. These unlocked amounts can add significantly to your product’s final Wealth Bonus payout.
Products that have reached the end of their lifetime will automatically pay out all their unlocked Wealth Bonus in full.
*Past performance is not indicative of future performance. Projected future value is based on average assumptions and not guaranteed.