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How many premiums can I skip over a lifetime?

Sanlam Indie lets you skip some premiums without cancelling your policy, which is awesome for when times are tough and it’s an instant-noodle kind of a month. 

You can skip up to 5 premiums in a row in the first 3 years of taking out your policy. And what’s even cooler is, after the first 3 years for every extra year you’re with Sanlam Indie, we’ll reward your loyalty with another 2 possible premium skips, which will look something like this…

0-3 years with Sanlam Indie = 6 skips

3-4 years with Sanlam Indie = 8 skips

4-5 years with Sanlam Indie = 10 skips

…you get the drift.

There is a downside though. The amount of cover you have depends on how many premiums you’ve paid in the last 6 months. So, if you’ve skipped the last 5 premiums, you’ll only have 1/6th of your normal cover available if you need to claim. And as soon as you skip 6 premiums in a row, your policy will be cancelled.

Also, if you use up all your skippable premiums, you’ll lose your cover, which is bad (much, much worse than those noodles), because, if something should happen to you, you’ll have no cover and you’ll also lose all that sweet Sanlam Indie Wealth Bonus

So, if the debt collectors know you by name, don’t stress about your Sanlam Indie cover; get back on track with your finances.

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