Effects on Wealth Bonus | Sanlam
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Effects on Wealth Bonus

Your projected Wealth Bonus is not guaranteed* and can shift over time.

At any time, the projection we give you is based on:

  1. Which products you have
  2. How much you pay for each product
  3. Your age at the time
  4. The products’ premium patterns (where applicable)
  5. The products’ contribution rules
  6. The assumptions products apply to those rules

Clients that only have Sanlam Money Saver Card and no other participating products won’t see a Wealth Bonus projection on their Wealth Bonus Dashboard.

*Past performance is not indicative of future performance. Projected future value is based on average assumptions and is not guaranteed.

The more participating products you have, the more benefits you’ll have contributing to your Wealth Bonus.

Adding and removing products can have a big impact on both the current value of your Wealth Bonus and your future projections.

A core principle of wealth generation is that growing wealth takes time and patience. The longer you keep a participating product, the more time its Wealth Bonus benefit will have to grow. That means that the younger you are when you first get Wealth Bonus, the higher your projected total will be.

Some products change their contribution rates over time based on your age. That means those products will add less to your Wealth Bonus as you get older.

Different products contribute to your Wealth Bonus in different ways. They might differ on how much, or how often, they contribute to your Wealth Bonus. Over time, these differences add up and have a big effect on your projected total.

Where a benefit tracks an investment, its growth is affected by the performance of the various allocations.

We don’t know exactly how much your Wealth Bonus will be worth in future. To make a guess, we need to make some assumptions when we work it out.

When we work out the total projection that you see on your Wealth Bonus Dashboard, we add up the projections for your contributing products. Product providers make their own assumptions when they work out when and how much they could pay out to you.

For example, for a Wealth Bonus benefit that works like an investment, the product provider might apply a growth rate of an average 7% a year, even though the growth rate would actually fluctuate over time.

Any changes you make to your Wealth Bonus portfolio could affect your Wealth Bonus projection.

If your projected Wealth Bonus has increased or decreased, it could be because:

  1. You added or removed a product
  2. You changed your monthly payments to a product. For example, you might have added more cover to a life insurance policy, which increased your premium
  3. A product changed its contribution rules

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Because your Wealth Bonus is made up of separate benefits, any changes you make to your product portfolio could have a big impact on the current and future value of your Wealth Bonus.

Our projection assumes that you won’t cancel or lapse any of the products you have in your Wealth Bonus portfolio.

When you add a product, we update the Wealth Bonus projection to show all the money that product is projected to pay out to you in future. When you remove a product, you lose out on this potential value.

Depending on which product you add or remove, and your age, this can have a huge impact on your projected Wealth Bonus total. This is particularly true where a benefit tracks the market like an investment, because the money will grow with compounding returns.

Adding a product

When you get a new product, the product provider will start contributing to your Wealth Bonus. These contributions (plus growth, if applicable) will reflect in your current value. You can check the Statements tab in your Wealth Bonus Dashboard for a history of contributions.

Removing a product

The current value of your Wealth Bonus is what your Wealth Bonus is worth today. This money could be either locked or unlocked.

For most products, money only unlocks once you have been a client for a certain amount of time. If you cancel the product before then, its unlocked money will pay out to you automatically. Any locked money will be lost.

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The current value of your Wealth Bonus is not fixed and is not guaranteed. Over time, we expect the value of your Wealth Bonus to increase as it grows with monthly contributions and with compounding returns.

If the current value of your Wealth Bonus has lowered unexpectedly, it could be because:

  • You cancelled a product or allowed a product to lapse
  • You decreased your monthly payments to a product
  • The investments that your Wealth Bonus tracks have underperformed significantly since the last time you checked

If you remove a contributing product from your portfolio, you lose any locked Wealth Bonus associated with that product. If you recently removed a product, you would have lost the locked portion of your Wealth Bonus’ current value.

Some products may limit how much you can lower your monthly payments before it affects the current value of your Wealth Bonus.

Your Wealth Bonus tracks the market like a real investment. Over time, we expect your Wealth Bonus to grow in value, but over the short term your Wealth Bonus might lose value if the market underperforms.

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Your Wealth Bonus benefits create wealth for you in different ways.

Sanlam Indie and Sanlam Matrix

This portion of your Wealth Bonus grows at a market related interest rate of 3% per annum. When money in this allocation unlocks, it becomes available to withdraw any time.

Sanlam Money Saver credit card

Wealth Bonus you earn from your Sanlam Money Saver credit card is invested in the Money Market. When this money unlocks, it is paid out immediately into your personal Easy Equities account.

Sanlam Cumulus Echo Retirement Plan and Cumulus Echo Preservation Fund

Your Cumulus Echo Retirement Plan or Sanlam Cumulus Echo Preservation Fund Wealth Bonus unlocks and pays out to you when the product matures.

Sanlam Retirement Plan

If you include a once-off or monthly contribution when taking up the Sanlam Retirement Plan up to age 50, you receive a 10% Boost to your Wealth Bonus.

Wealth Edge Endowment Plan

Your Wealth Bonus from your Sanlam Wealth Edge Endowment Plan pays out to you when the product matures.

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Your Wealth Bonus stays locked and unavailable until you reach certain milestones. Whenever Wealth Bonus unlocks, it becomes yours.

You can lose locked money in these ways:

  1. If you cancel a product or allow it to lapse. Any locked money associated with that product will be lost forever.
  2. If you die. All your unlocked money will pay out along with the relevant product, and all locked money will be lost.
  3. If the market underperforms. Because Wealth Bonus behaves like a real investment portfolio, it’s possible that the current value of your Wealth Bonus will dip.

If you cancel a product or let it lapse through non-payment:

  • Locked money from that product will be lost.
  • Unlocked money from the product will be paid out to you automatically. (You can’t choose to leave unlocked money invested if you cancel the product.)

If the cancelled product was the only participating product you had, we’ll cancel your Wealth Bonus. You’ll no longer be able to log in to the Wealth Bonus Dashboard.

If you have other participating products, the other Wealth Bonus benefits in your portfolio will still be active. You can continue to track them in your Wealth Bonus Dashboard.

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You can get a history of all recent Wealth Bonus transactions.

To access available statements of your recent transaction history:

  1. Log in to your Dashboard
  2. Select Statements
  3. Specify the date range

You can also download your transaction history as a .CSV or .PDF file.

To access older statements that are not displayed, please contact customer support.

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