When Sanlam Indie launched, we did something impossible by industry standards — we gave clients a once-off investment, with every Sanlam Indie policy, called the Wealth Bonus (except back then we called it Bounty). Depending on your age and premium, that investment could have been anything from R10, 000 to R150, 000+.
Sound too good to be true? That’s what everyone else thought too.
In the months since launching, both research and our own experience taught us that while the Wealth Bonus made sense to “early adopters” and “financially-savvy” types, we were missing the mark with our most important market — ordinary South Africans. Today we’re making Wealth Bonus easier to understand and better for everyone.
With Wealth Bonus 2.0, instead of a once-off investment with your policy, Sanlam Indie matches up to 100% of your premium and invests it for you every month.
The younger you start, the more we invest in you and the more time you have for that investment to grow and generate meaningful wealth. We’ve included a table of how much Sanlam Indie invests in you every month, over time, right here, but a few examples will help illustrate the idea:
- If you’re under 30 years old, paying R300 a month for your policy, Sanlam Indie will invest 100% of your premium into your Wealth Bonus (R300 invested per month)
- If you’re 35 years old, paying R500 a month for your policy, Sanlam Indie will invest 80% of your premium into your Wealth Bonus (R400 invested per month)
- If you’re 60 years old, paying R750 a month for your policy, Sanlam Indie will invest 40% of your premium into your Wealth Bonus, (R300 invested per month)
Regardless of your age, Sanlam Indie always invests in you because we believe the least any financial service can do is help people create wealth for their futures. Here are a few other ways we’re making Wealth Bonus 2.0 better.
New. More Cash in your CashDrops
Wealth Bonus is an investment, and like all investments it performs best when it’s left to grow, but every few years we give you access to some of it.
- Previously that was 5% (with growth) accessible every 5 years.
- With Wealth Bonus 2.0, it’s 10% (with growth) accessible every 5 years.
New. Miss a Payment, Keep Your Wealth Bonus.
Whatever Wealth Bonus you get from your premiums over the years stays yours.
- Previously if you missed several payments we’d reduce your total Wealth Bonus.
- With Wealth Bonus 2.0 when if you need to miss one or more payments, we won’t take Wealth Bonus away, we just won’t add to your Wealth Bonus in those months.
- Previously if you reduced your cover, we’d remove some of the lump-sum investment we made on day one, which admittedly was a little weird.
- With Wealth Bonus 2.0, if you reduce your cover in, say, year 5, you keep all the Wealth Bonus that we invested while you were paying a higher premium.
Already a Sanlam Indie client? We’ve Got You.
To our existing clients, we’ve written a post explaining how Wealth Bonus 2.0 affects you, and we’ve got some great news (spoiler: more Wealth Bonus) for you, as a thank you for continuing to invest your premiums into a life insurance company that wants to make insurance more rewarding for everyone.