7 Easy ways to maximise your Wealth Bonus

Last updated on 5th January, 2024 at 12:48 pm

Wealth Bonus is Sanlam Group’s monetary reward to clients like you for making good financial decisions. So, how exactly does it work, and how can you maximise your Wealth Bonus?

How Wealth Bonus works

The more you invest in yourself, the more we invest in you, which is why Sanlam has introduced Wealth Bonus. By making financially responsible decisions and staying loyal to the Group through your participating Wealth Bonus products, you automatically earn Wealth Bonus – a monetary reward that grows as long as you stay up to date with your payments or contributions.

For example, on our participating Matrix Premier product range, for every premium you pay, Sanlam Group matches a percentage into your Wealth Bonus pot, at no added cost to you.

You can increase your Wealth Bonus in several ways; read on to find out how.

Wealth Bonus easy way #1: Start now

Because the money in your Wealth Bonus tracks the market like a real investment, the earlier it starts accumulating, the more time it has to grow. This is why it makes a big difference to take out a Wealth Bonus participating product sooner, so that you can enjoy the rewards of sticking to your financial guns once portions of your Wealth Bonus start to unlock.

Wealth Bonus easy way #2: Cover your risks & invest in your future

Wealth Bonus is built into certain risk and investment products, which means you automatically start contributing to your Wealth Bonus just by regularly paying your risk cover premiums or contributing to the participating investments in your portfolio.

Risk cover

Sanlam Indie and Matrix Premier risk cover policies ensure your risks are managed as part of a comprehensive financial plan, and have built-in Wealth Bonus, too. Your Wealth Bonus grows every month by your premiums being matched up to 100%. Once Wealth Bonus is in your portfolio, it tracks the market like an investment, further increasing its value over time.

For example, if someone takes out income protection at a monthly premium of R850 from the age of 30, they could have R1 264 866 in Wealth Bonus by the time they reach 65.

Investments

The Sanlam Cumulus Echo Retirement Plan is a retirement annuity (RA) that comes with built-in Wealth Bonus. When you take out the RA, stay invested, and continue to make regular contributions to your investment, your Wealth Bonus grows along with it.

A 29-year-old could start contributing R2 000 monthly to their RA, and accumulate a projected Wealth Bonus value of R1 946 122 by age 64 after having consistently paid their contributions and stayed in the annuity.

If you change jobs and want to keep the retirement savings and growth you’ve enjoyed in your existing investment, Sanlam rewards you with Wealth Bonus, too. Open a Sanlam Cumulus Echo Preserver investment to preserve your savings, and Sanlam will add to your Wealth Bonus as a reward for this financially responsible decision. The longer you stay invested, the larger your Wealth Bonus grows!

To find out how staying in qualifying products could contribute to your Wealth Bonus, use this Wealth Bonus calculator.

Wealth Bonus easy way #3: Get up to a 15% Wealth Bonus boost with our partners

Sanlam’s strategic partners can help you earn Wealth Bonus, too.

MTN customers

If you are an MTN customer with an active MTN network number, include this contact number when signing up for a Sanlam Indie Life Cover policy and automatically qualify for an added 10% towards your Wealth Bonus.

Bonitas and Fedhealth members

When you hold a Sanlam Premier insurance policy and are a main member of a Bonitas or Fedhealth medical aid plan, your monthly Wealth Bonus contribution will be boosted by 15%.

Bonitas members also enjoy an added 10% to their Wealth Bonus each month when taking out a Sanlam Indie policy.

Wealth Bonus easy way #4: Add to your portfolio

Maximise your Wealth Bonus when you take out more qualifying products. Each participating product in your portfolio has Wealth Bonus embedded in it, so the more qualifying products you have, the more they add to your Wealth Bonus.

So, you could take out life cover and disability cover, and if both are participating Wealth Bonus products, both would play their part in adding to your Wealth Bonus.

A qualified financial planner is ideally positioned to help you draw up a financial plan that considers your risk cover needs, and steps you can take to realise your financial goals. Book a meeting with one today.

Wealth Bonus easy way #5: Join Sanlam Reality

As a Reality Plus member, you can save up to 30% on your Matrix Premier risk cover premiums, and because these policies are participating Wealth Bonus products, when you pay your discounted premiums, you also earn Wealth Bonus. As a member, you can access a host of lifestyle benefits, including up to 5 months’ Showmax streaming, discounted FlySafair tickets, savings on gym memberships and more.

See how more than one participating Wealth Bonus product, plus a Sanlam Reality membership, can contribute towards your Wealth Bonus:

Not a Reality Plus member? Join one of these options now to take advantage of these benefits and add to your Wealth Bonus.

Wealth Bonus easy way #6: Credit products earn you Wealth Bonus, too!

Take out a Sanlam Personal Loan or renew your existing one, and qualify to receive 10% of your loan value back as Wealth Bonus over five years – at no added cost to you. Read this to ensure you make the right financial choice for yourself.

Plus, with the Sanlam Money Saver credit card, you earn as much as 5% added to your Wealth Bonus with every swipe at Reward Partners when you choose the co-save option, and R1.00 Wealth Bonus back per litre when you fill up at TotalEnergies. You still get up to 3% Wealth Bonus back, even when you don’t choose the co-save option. Apply for your card now, and start saving as you spend!

Wealth Bonus easy way #7: Stick with it

Cancelling a policy, allowing it to lapse, or cashing in your investment, means you lose the money that is locked in the Wealth Bonus that’s been growing alongside those products. To avoid missing out, it’s important to stay invested or keep up to date with your contributions.

When you sign up for a Wealth Bonus product, you get access to Wealth Bonus Lifestyle benefits – for free! Save on Showmax, FlySafair, Uber and more. Explore now.