Why do premiums change over time?
We will only guarantee your premium won't change for 12 months at a time. This may not sound so great, but instead of guaranteeing premiums, we commit to giving everyone insurance at the same premium rates regardless of if they're brand new to Sanlam Indie, or have been clients for some time.
We don’t guarantee premiums because generally, over time, the cost of offering life insurance decreases. There are a few reasons this happens, but it's primarily because people live longer and longer as their general health and health care improves over time 👨🏻⚕️. So we don't think it's very fair to you guys who have been our clients for some time, to pay MORE than someone who is brand new to Sanlam Indie. It's better that everyone benefits when prices tend to decrease. The downside is, there's a small chance that the cost of life insurance may increase, in which case everyone will pay slightly more, but we're confident the trend of decreasing prices will continue 👌🏽.