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What is Sanlam Indie Funeral Cover?

Sanlam Indie Funeral Cover is funeral cover that pays an immediate lump sum to your beneficiaries when you die, so they have ready cash for the costs associated with your death (like mortuary costs, your funeral, repatriation of your body, or any other once-off expenses).

Do I need funeral cover?

When you die, someone will have to cover the costs associated with your death (which could be thousands of Rands over just a few days). Funeral cover protects them if they weren’t expecting to pay or can’t afford to pay.

Underwritten life insurance policies (like Sanlam Indie Life Cover) provide more cover, but if for some reason you don’t qualify (for medical reasons, for example), then funeral cover is a good option.

What’s different about Sanlam Indie Funeral Cover?

We think we can improve on what the usual funeral policy offers, so we’ve tried to make a unique product.

Firstly, your Sanlam Indie Funeral Cover amount will double after two years, but your premiums won’t increase at all. That means if you insure your life for R50,000, after 24 months we’ll increase that cover to R100,000 automatically without you paying a single cent extra on your monthly premiums.

Also, we’ll match up to 100% of every premium you pay into an investment account which unlocks when you reach 70. So if you’re still around then, we’ll give you cash money to do with as you please.

Claims & Payouts

Who gets paid?

You’ll need to nominate one or more beneficiaries to receive the pay out if you die. If you don’t, the money will be paid into your estate.

Is the claim amount taxable?

Nope. Funeral insurance payouts are not taxable.

When doesn’t it pay out?

Sanlam Indie Funeral Cover will not pay a claim if:

Does the cover amount change?

No. Unlike life insurance products, your monthly premiums for funeral insurance won’t increase every year (and neither will the cover amount - except for when we double it after two years at no extra cost to you).

When does the cover end?

Cover will only end if you decide to remove the product and stop paying premiums, or if you die.

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