At Sanlam Life Insurance we take care of your life insurance needs to provide you with financial peace of mind.
Our life insurance products for individuals include a unique and flexible plan, which offers a regular savings instrument together with a choice of life cover and an extensive family protection.
The Dream Builder is a unique and flexible plan that offers you a regular savings instrument together with a choice of life cover protection.
Your monthly contribution will help you save for your financial dreams and goals, but at the same time offer life protection. A lump sum will be made available to your loved ones should you pass away during the term of the policy.
As the policy owner, you can choose an inflation protection rate of 5%, 10% or 15% per year. This helps to protect the benefits from erosion due to the effect of inflation over time.
The policy owner can choose life cover from 5 million UGX to 40 million UGX without any medical underwriting. A six-month waiting period applies for natural causes of death.
The policy owner can choose a term of between five and 20 years, but the term will expire once you reach the age of 65.
The plan has a built-in accidental death benefit for the policy owner. This means that, in the event of accidental death of the policy owner, Sanlam will pay an additional sum equal to the sum assured chosen for that policy owner. This translates to payment of ‘double cover’ on accidental death.
Should any person covered under this policy lose their life due to an act of terrorism, riots or strikes in which they were not an active participant, the claim will be honoured, subject to all other policy requirements being met.
One partial withdrawal per annum may be made during the lifetime of the policy once the fund value reaches 1 000 000 UGX. The maximum partial withdrawal allowed is 50% of the value of the policy.
At an additional nominal premium you can cover your spouse and up to three children for 2.5million UGX per person.
If this option is chosen, on the untimely passing of the policy owner, we will keep the policy in force until the end of the selected policy term.
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This product provides death cover to you as the policy holder, your spouse, children, parents and extended family.
Each family member is individually priced based on age and the sum assured selected. The policy expires on the first policy anniversary after the policy holder reaches the age of 65 (66 age next birthday).
The Family Protection Plan offers key features that are unique and that enhance the value of the offering.
To protect your selected benefits from the effect of rising inflation, the initial cover of the policy owner and all other lives assured increases by 5% every year and the premium for the policy shall automatically also be increased by 5% of the previous year’s premium on each anniversary of the policy. This policy also allows you to add an optional 10% Inflation Protector.
For every five years this policy remains in force, we will credit to you, the policy owner, an amount equivalent to 10% of the total premiums paid in the previous five years in respect of insurance benefits. The policy must be in force for this benefit to apply.
Upon the death or permanent disability of the policy owner, we will keep the policy in force until the policy owner would have reached the aged of 65 for the benefit of the remaining life assureds under the policy.
The plan has a built-in accidental death benefit for the policy owner. In the event of accidental death of the policy owner, we will pay an additional sum equal to the sum assured chosen for the policy owner. This translates to payment of ‘double cover’ on accidental death.
On receipt of all required documentation, we commit to paying claims within 48 hours of verification thereof. We understand that you and/or your family need the money for expenses incurred due to an unforeseen death and we want to assist you as best we can in this very difficult time.
As the policy owner, you may transfer ownership of the policy to another life assured on the policy, should you be over the age of 50. This will ensure that the policy stays in force, even after you would have reached the age of 65 and the policy would have expired.
The policy owner can at any time add or delete family members, children, parents and extended family. Parents and extended family members can be added up to age 85.