What happens to my Wealth Bonus if I die?
Your Wealth Bonus grows with each premium you pay and is fully unlocked at age 70. Until then, we unlock 10% of the total fund every 60 premiums. You can withdraw these unlocked portions at any time.
Wealth Bonus is our way of rewarding you for looking after yourself, and also for sticking with Sanlam Indie all that time. 🤗
If you die before age 70
The locked portion of your Wealth Bonus is lost forever and nobody gets it.
Any unlocked portions of your Wealth Bonus that you haven’t withdrawn (a.k.a. your CashDrops), plus the interest on those unlocked portions, will be paid out to your beneficiaries when they claim. If you haven’t specified beneficiaries, these unlocked portions will be paid into your estate.
If you die after age 70
At age 70, your entire Wealth Bonus unlocks and we will stop contributing to the fund. But you don’t have to withdraw it if you don’t want to. You can leave some or all of the lump sum invested to grow even more, in which case your beneficiaries will get it all when you go, on top of the payout from your insurance.
- What will my Wealth Bonus and CashDrop amounts be?
- How is Wealth Bonus different from a premium-back promise?
- Why does Wealth Bonus only pay out at 70?