When do I get my Sanlam Indie Wealth Bonus?

Your Sanlam Indie Wealth Bonus is a loyalty benefit that comes with your Sanlam Indie policy. For every premium you pay, we allocate money to this benefit, which grows over time.

At certain times, some of this money unlocks and becomes available to withdraw. 

You get your Wealth Bonus payout when:

• You successfully pay 60 premiums. Every 5 years or so (if you don’t skip a premium), 10% of your total Sanlam Indie Wealth Bonus unlocks.

• You refer a friend. If someone has used your unique referral code to sign up, and they’ve paid enough of their premiums, you’ll be entitled to withdraw your referral reward from your Sanlam Indie Wealth Bonus.‍

• You turn 70. If you still have an active policy, we’ll pay out the full value of your Sanlam Indie Wealth Bonus to you on 1 January after you turn 70.

Will I get my premiums back?

Yes, we expect many people to get more than the sum total of their premiums back. But how much you get depends on your age when you take out a policy. The younger you are, the more you can expect to get back at 70. For example, if someone takes out a policy in their 20s and keeps it going, their Sanlam Indie Wealth Bonus could be worth millions of Rands when they turn 70.*

This is because there is more time for your Sanlam Indie Wealth Bonus to earn compound interest. If you're older, it's unlikely that your Sanlam Indie Wealth Bonus will grow enough in the short term to get bigger than the total of all your premiums.

When won’t I get my Wealth Bonus?

If you leave, you LOSE your unlocked Sanlam Indie Wealth Bonus. You must keep a single policy active until you turn 70 in order to get that policy’s full Wealth Bonus payout. 

These events would cause you to lose your Sanlam Indie Wealth Bonus:

• You choose to cancel your policy before you turn 70

• Your policy lapses because you no longer have any products with us

• You allow your policy to lapse by skipping too many premiums

• You die before you turn 70 (any locked portion will not be paid out to your beneficiaries)

*This example is product dependent and used for illustration only. Projected future value is based on average assumptions and not guaranteed. Be wary of buying any financial product based on a forecast or illustration.