Skip Ribbon Commands
Skip to main content

Personal Personal Insurance Solutions | Sanlam Zambia

Personal

Be prepared for life’s uncertainties

We cannot predict or prevent unfortunate events such as sickness, accidents, death or theft. However, these events can have a significant impact on your financial wellbeing. If you have the right insurance, you can have peace of mind that you will be able to cover unplanned expenses or a loss of income.

INSURANCE

Enjoy peace of mind despite life’s uncertainties

The Family Protection Plan provides a daily cash benefit upon your hospitalisation, as well as a funeral benefit and a dread disease benefit to your immediate family and parents. In other words, the plan provides readily available funds in the event of death or illness.

The level of cover will vary, depending on the plan you choose, and premiums start from as little as K3.50 per day. Any citizen or resident of Zambia between the ages of 18 and 55 is eligible, but it’s important to note that cover ceases at the age of 60.

Benefits:

  • Basic funeral benefit (policy holder, spouse, children and parents from K2,500 up to K20,000)
  • Double accident death benefit (no waiting period)
  • Daily cash payout on hospitalisation from K250 to K2,000 per day
  • Dread disease cover equivalent to life cover
  • Inflation protector – benefits are hedged at appropriate rates against inflation and help keep up with the rising cost of living
Call me back

Life Saver is a life assurance policy covering the life assured. It only pays out to the nominated beneficiaries when you, the policyholder, pass away. The product is designed to provide replacement income for your family, so that you can provide for your loved ones even after you are gone.

It is a very basic whole life, non-participating plan with high protection cover, medical underwriting and in the event of death of the life assured, the full sum assured is paid out. There is no minimum cover and the maximum cover is subject to underwriting.

The premium for a 30-year-old person, for a sum assured of K400,000, is K8.85 per day. Any citizen or resident of Zambia between the ages of 18 and 55 is eligible, but it’s important to note that cover ceases at the age of 60.

Benefits:

  • Income replacement, in the event of death or total and permanent disability of the life assured
  • Legacy and wealth creation – cheapest and easiest way of leaving a legacy, wealth or a huge estate to your loved ones
  • Key-man and partnership protection
  • Inflation protector – benefits are hedged at appropriate rates against inflation and help keep up with the rising cost of living
Call me back

The Angel Life Assurance Plan covers the principal member, spouse, children (six), parents, in-laws and up to eight extended family members. The plan provides funds in the event of death of a loved one nominated on the policy. The cover ranges from a minimum of K2,500 to a maximum of K30,000.

Benefits:

  • Cover for the whole family, up to 22 members
  • Cash to meet financial expenses
  • No claim cash back every five years at 10% of the total premiums paid for cover up to K7,500 and 20% of total premiums paid for cover above K7,500
  • Cash bonus – withdrawal after two years and every year thereafter
  • Convenience and flexibility that come with cash
  • Whole life cover – once the life assured reaches the age of 65, provided the policy was taken up prior to his/her 55th birthday, all family members will remain covered without further payment of premiums. (Premiums cease and cover remains in place for life.)
  • Inflation protector – benefits are hedged at appropriate rates against inflation and help keep up with the rising cost of living
Call me back

The Quattro Life Plan provides high levels of life cover with minimal underwriting. The plan is designed to protect the financial wellbeing of the family in the unfortunate event of the breadwinner’s passing.

A 40-year-old person will pay K2.60 premium per day for a sum assured of K25,000 and K6.50 for a sum assured of K150,000. Any citizen or resident of Zambia between the ages of 18 and 55 is eligible, but it’s important to note that cover ceases at the age of 60.

Benefits:

  • Life cover – death benefit
  • Dread disease cover (cancer, stroke, heart attack, and more)
  • Disability cover (TPD)
  • Cash back every five years at 10% of the total premiums paid
  • Additional cash back of three times the monthly premiums upon reaching the age of 65
  • Inflation protector – benefits are hedged at appropriate rates against inflation and help keep up with the rising cost of living
  • Funeral expense cover between K6,000 and K18,000 for you, your spouse, parents and extended family
Call me back

This product is sold to retirees and bought using a lump sum. In return for the single premium, the policyholder (annuitant) will receive regular annuity payments which will continue until death. This single premium retirement annuity comes with an escalation option of 0%, 2.5%, 5% or 15% and has a guarantee of 0.5 or 10 years payment benefits which are paid monthly, quarterly or annually. It includes a joint life option and commences immediately after being taken out.

Target markets:

  • Employees who have reached retirement age and have been paid a lump sum
  • Employees who have been retrenched and have been paid lump sum retrenchment benefits
  • Beneficiaries of group life, personal accident (or any life product), death benefits (including PTD) who may need regular annuity payments rather than a lump sum payment
  • Pension schemes that are winding up and want to give their members annuity payments
  • Generally, all who have a lump sum and don’t want to outlive their income
Call me back

Dream Builder is a two-in-one life assurance policy that provides loved ones with financial protection in the event of your death, and also serves as an investment vehicle that helps you save for the future.

The Life Cover premium is K2 per day for K15 000 cover, whereas the Savings premium is K4 daily – the maximum amount depends entirely on you. The term can range from a minimum of 5 years up to 20 years, and any citizen or resident of Zambia between the ages of 18 and 55 is eligible. No underwriting is required for this product.

Benefits:

  • Life cover – death benefit
  • Double accident death benefit
  • Surrender value as high as 95%
  • Unlimited annual partial withdrawals up to 50% of the fund
  • Automatic paid-up benefit

Optional benefits:

  • Inflation protector – investment and life cover benefits are hedged at appropriate rates against inflation
Call me back
INVESTMENTS

Get financial cover and save for future needs

Dream Builder is a hybrid plan with no underwriting requirements that provides a disciplined mechanism to save for future needs, whilst also providing cover to the policyholder. It provides loved ones with financial protection in the event of your death, and also serves as an investment vehicle that helps you save for the future. The minimum term is five years and the maximum is 20 years. The minimum savings premium is K150 and the maximum amount is unlimited.

A 40-year-old person will pay K4.00 per day for life cover of K15,000 and K5.50 per day for life cover of K50,000. Any citizen or resident of Zambia between the ages of 18 and 55 is eligible. No underwriting is required for this product.

Benefits:

  • Save for an asset acquisition (housing stand, motor vehicle, furniture, lobola, wedding costs, and more)
  • Save for business start-up capital
  • Complement retirement income build-up
  • Education fund for children
  • Unlimited annual partial withdrawals up to 50% of the value of the policy
  • Automatic paid-up option
  • Surrender value as high as 95%
  • Life cover – death benefit
  • Double accident death benefit
  • Value preservation through the inflation protector – investment and life cover benefits are hedged at appropriate rates against inflation
RETIREMENT ANNUITY

Regular annuity payments for a comfortable retirement

This product is sold to retirees and bought using a lump sum. In return for the single premium, the policyholder (annuitant) will receive regular annuity payments which will continue until death. This single premium retirement annuity comes with an escalation option of 0%, 2.5%, 5% or 15% and has a guarantee of 0.5 or 10 years’ payment benefits which are paid monthly, quarterly or annually. It includes a joint-life option and commences immediately after being taken out.

Target markets

  • Employees who have reached retirement age and have been paid a lump sum
  • Employees who have been retrenched and have been paid lump sum retrenchment benefits
  • Beneficiaries of group life, personal accident (or any life product), death benefits (including PTD) who may need regular annuity payments rather than a lump sum payment
  • Pension schemes that are winding up and want to give their members annuity payments
  • Generally, all who have a lump sum and don’t want to outlive their income
Call me back

Speak to one of our
financial consultants

Sanlam Life Insurance is a licensed financial service provider.
Copyright © Sanlam