Sanlam sickness benefit and income protection presentation
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Transcript of Sanlam sickness benefit and income protection presentation
Unique risk pool
Qualification
Professionals : Eligibility
Two 3-year Bachelor’s degrees 4-year Bachelor’s degree Honours degree Master’s degree Doctorate Actuaries with FASSA / FIA / FFA M-Tech D-Tech Professional accountants (SAIPA) Certified Financial Planners (CFP)
⧁ 3-year degree at a university⧁ 4-year diploma (B-tech)
Graduates : Eligibility
Temporary orPermanent
plus other optional benefits…
TemporaryTreatable / curable
Permanent Condition is not curable
(forever)
Nothing to do with performing your
occupation
Conditions covered under the definition of :
Physical or Functional impairment
Disability definitions
Total & Permanent
TotalTotally unable to work
Permanent Condition not curable
(forever)
Lump sum disability Income Protection Impairment
OccupationOccupation
Income Protection for Professionals
Sickness benefit Extended IP Other
• “Temporary Income Protector”
• Pays for being booked-off sick
• Death income• Total & Permanent
income Protection
Permanent Income Protector for
occupational disability
Child ProtectorSpouse Protector
Impairment Optional
Optional
Professionals & Graduates
The unique Sickness benefit
Income Protector for Professionals
Sickness benefitWait7 day 14 day
1 month *
To age606570
24 months per condition
Tax-free (premium not tax deductible) Pays for being booked-off (doctor’s note) No loss of income required at claim stage No aggregation at claim stage No contractual exclusions * No hospitalisation required Female & Special leave benefit
Extended Income Protector
To age55606570
Whole-life
Tax-free (premium not tax deductible) Covers the following :
Temporary disability, Permanent disability & Partial disability Proof of income required at claim stage
to determine full or partial claim Aggregation only if back / psychological /
pain clause + 75% limit
70Whole-life functional
impairment
Disability definition falls away
Max 50%
Optional• Child Protector• Spouse Protector
OptionalPermanent Functional Impairment - Max
100%
24 months wait
Income Protector for Non-Professionals
Temporary Income Protector
Wait7 day
1 month3 months6 months 12 months
To age55606570
24 months minus waiting period
Extended Income Protector
To age55606570
Whole-life
70
Whole-life functional
impairment
Disability definition falls away
Max 50%
Optional• Child Protector• Spouse Protector
OptionalPermanent Functional Impairment - Max
100%
Tax-free (premium not tax deductible) Covers the following :
Temporary disability, Permanent disability & Partial disability Proof of income required at claim stage
to determine full or partial claim Aggregation only if back / psychological /
pain clause + 75% limit
24 months wait
Tax-free (premium not tax deductible) Covers the following :
Temporary disabilityPermanent disabilityPartial disabilityDefined claim events
(guaranteed payment)