Sanlam’s group life insurance and group life cover offer competitive benefits can help you attract and retain high calibre employees. Providing for risk events (e.g. death or disability) can be a costly exercise with a number of complexities and uncertainties, unless effectively managed.

Sanlam’s suite of cost-effective

  • Enhance employee benefit packages, which are an important component of the total offering when attracting new employees.
  • Provide financial protection to employees and their dependants in the event of death or a long-term illness while still in service.
  • Offer a disability and claims management and assessment capability that will assist employees to return to work once their rehabilitation is complete.

Group Risk Benefits

On the death of a member, Sanlam Employee Benefits makes provision for a lump sum to be paid to the fund or in the case of an independent group life scheme, to the member’s beneficiary. Cover is provided free of medical evidence, subject to a Free Cover Limit for schemes with 10 or more members.

Credit Insurance Benefits

Sanlam Employee Benefits pays out a benefit under Credit insurance, related to a member’s outstanding debt, to financial institutions or employers granting credit, on the death of the member before retirement.

With group life insurance, taking out credit insurance protects the borrower and lender in the case of death and disability of the borrower.

Disability Income Benefits

Sanlam Employee Benefits’ Lump Sum Disability Benefit pays out a benefit to members who are totally and permanently disabled in order to replace lost future income. The benefit is limited to the smaller of 8 times annual salary .and R9 000 000.

Should a member become totally or partially disabled, regardless of whether the condition is temporary or permanent, Sanlam Employee Benefits’ Group IncomeCare pays a monthly benefit to the member until the member recovers, dies or reaches normal retirement age. In addition, their group life insurance also provides the benefit of a pro-active health management and rehabilitation programme for employees who are absent from work for more than 14 days due to injury or illness.