Pays a once-off lump-sum if you die, with a quick payout for immediate expenses.
Life insurance designed to give you a proper send-off, while protecting your dependants from large debts (like home, vehicle or credit loans) by paying a lump sum if you kick the bucket. This means that if you die, your family receives a quick payout of up to R50 000 if you’ve been with Sanlam Indie for longer than 6 months, and a larger lump sum later on. Like all Sanlam Indie policies, your Life Cover policy includes a built-in Wealth Bonus. We’ll match up to 100% of your premium in a reward that tracks the market like an investment to grow real wealth for your future.
Life Cover + Quick Payout is for anyone who has outstanding debt, and doesn’t have enough existing insurance to cover this debt. Many credit providers insist that you have debt protection before lending you money – especially in the case of home and vehicle loans.
Finalising your estate also involves estate duties and executor’s fees. If there is no cash to pay for these fees from your estate, your executor (the person appointed to deal with your estate) would normally have to sell your assets (like your car, or that sneaker collection you spent years hustling for) to cover the expenses.
If you kick the bucket, Life Insurance protects your peeps from debt with a single lump-sum payout.
Everyone has different debt needs. Essentially, you should take into account your current outstanding debt and subtract any existing life insurance cover you have. The gap between the two should be the amount of Life Cover you go for.
We’ll help you work out what cover you need in just minutes.
When you die, your debts are left in your estate, where they become the problem of your dependants or significant others. Life Cover pays out to cover these debts so the people you care about don't have to. At the same time, the quick payout ensures you have a proper send-off.
Life Cover is for anyone who has outstanding debt, and doesn't have sufficient existing insurance to cover this debt.
Claims are paid as fast as possible. How long that’ll take depends on the nature of the claim, as well as how quickly we’re given the claims documentation. We recommend that for cover intended to match your debts, payment be made to your estate to settle any outstanding debts first.
If you’re diagnosed with a medical condition that, according to our Chief Medical Officer, will result in death within 12 months, you may apply for an early payment.
The quick payout benefit is only available after your policy has been active for 6 months. The quick payout portion of the cover usually pays out within hours, but may take up to 3 business days after receiving all the necessary documents.
Life Cover will not pay a claim if:
You commit suicide within the first 5 years of the cover activating
You die as a result of participating in something illegal
You have been wilfully misleading with the information you provided us
You die as a result of taking part in any of the following aviation activities: aerial photography, pylon racing, game spotting, aerobic display, crop spraying or herd thinning
If you have not specified a beneficiary, claims will be paid into your estate so that the executor of the estate can use the claim payment to settle your outstanding debts.
Your Life Cover will grow with inflation (CPI) each year, unless you choose to adjust your cover amount. At any time you can lower your cover, or increase your cover, or remove your cover altogether.
Depending on the size of a cover increase, we may first need you to answer some short medical questions
If your outstanding debt decreases, it might be a good idea to lower the amount of Life Cover you have. You can make this change at any time.
This cover will last for as long as you continue to pay premiums. Obviously, if you die and we pay a claim, then the cover will also stop.
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Copyright © Sanlam Indie 2022. All Rights Reserved. Sanlam Indie's product offering is underwritten by Sanlam Life Insurance Limited, a licensed life insurer & financial services provider. Sanlam Indie is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06. Sanlam Life Insurance Limited is an authorised FSP (No. 2759). Address: 1st Floor Glacier Place, 1 Sportica Crescent, Tygervalley, Cape Town, 7530