Not sure whether you should opt for life insurance or disability cover or both? Here’s a look at what each one has to offer. Life Insurance is designed to provide financial support for your family should you pass away unexpectedly by paying out a tax-free lump sum that can be used to cover immediate and future expenses. Disability cover, on the other hand, provides for you and your family while you are still alive by paying out a tax-free lump sum should you become temporarily or permanently injured or disabled. If you have loved ones who are dependent on you, adding disability cover to your life insurance ensures that they are also taken care of should you become permanently impaired or disabled and not only should you pass away unexpectedly. It also ensures that you are financially secure should your impairment or disability prevent you from earning an income. If you don’t have any dependants, however, you may decide to opt for disability cover only and relook your decision should your circumstances change in the future.

We’ve created two valuable benefits that reward you for keeping your cover in place. As a Sanlam Matrix client, you have the option of adding our Cashback benefit to any qualifying new or existing risk plan. If you do so, your monthly payment will increase by 35% until you reach the 15-year mark, when 100% of your contributions will be made available to you to spend as you like – put the payout towards your children’s education, home renovations, unexpected expenses or even your retirement. Alternatively, you can choose to leave your lump sum to grow until you need it. You can also look forward to benefiting from Wealth Bonus – a portion of your contribution that’s invested in a Money Market fund until you turn 70, ensuring that your money keeps making money. With every 60 premiums you pay, a portion of your Wealth Bonus is made available to you to withdraw or leave invested.

Sanlam has been protecting the financial futures of South Africans for over 100 years and our comprehensive Sanlam disability offering includes several first- of-their-kind add-ons, depending on the benefit you choose, that help to provide total peace of mind:

How much disability cover do you need? Most of our clients opt to be covered for at least R350 000 or choose cover equal to six months’ worth of their net income – whichever is higher. If you need help figuring out your ideal cover amount, ask a Sanlam adviser to call you back and help you create a personalised solution.

Because we understand that claims are submitted under very difficult and distressing circumstances, we’ve kept the process as simple and straightforward as possible. All claims can be submitted online in a few easy steps, and we’re here to help you every step of the way.