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Will my monthly payments go up over time?

Yip, it’s likely that from year to year your monthly payment (also called your premium) will go up.

The good news is that when your premium goes up, we'll add more to your Wealth Bonus too 💰!

How will my underwritten life insurance premium change over time?

Everyone’s policies are reassessed every year. This is called rerating, and at Sanlam Indie, we rerate every January regardless of when you started your policy.

That means if you get a new policy in December, your premium will likely increase the following month. If you get a new policy in January, your premium and cover will remain unchanged until the following January.

We will always give you the option to reduce your cover 🌂 at that point if you'd prefer to keep your premium flat.

‍How will my funeral premium change over time?

It’s a different story for funeral cover. Your premium will remain level for the first 5 years. In other words - no increases. 

Then, after 5 years have passed, every January we’ll apply a 5% increase. Unlike with underwritten insurance, your cover does not increase along with the premium increase. (This doesn’t include the free doubling of your cover after you’ve had a policy for 2 years.)

Confused? Let’s take a look at an example:

Let’s say in March 2020 you take R20,000 Funeral cover for yourself at R100*.

*These amounts are for illustration only.

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