Wealth Bonus® is a monetary reward, built into participating products across the Sanlam Group, that helps you to build meaningful long-term wealth.
These monetary benefits can be viewed and tracked for each product in your Wealth Bonus Dashboard, via the Sanlam Client Portal. If you have a Wealth Bonus product, you automatically gain access to complementary Wealth Bonus Lifestyle benefits.
Your Wealth Bonus value is the amount of money you have accumulated in your Wealth Bonus portfolio.
Your Wealth Bonus value includes the monetary contributions Sanlam has made to your Wealth Bonus portfolio on your behalf, plus the contributions you have made (by swiping your Money Saver credit card, for example), as well as the interest earned on these contributions.
To get started with Wealth Bonus, you must buy a participating Sanlam Group product. Your Wealth Bonus will start to accumulate, according to each product’s rules.
You can grow your Wealth Bonus by adding more participating products to your Sanlam Group portfolio. Each qualifying product you add means more money contributed to your Wealth Bonus every month.
The following products qualify for Wealth Bonus:
*Available online and not distributed through any intermediaries.
Your current value is shown in the ‘Overview’ tab of your Wealth Bonus Dashboard, and in the navigation bar. Go to sanlamonline.co.za and login to access your Sanlam Portfolio and find the link to the Wealth Bonus Dashboard tab.
The current value of your Wealth Bonus will change over time. If there are any changes to your Wealth Bonus portfolio (for example, interest earned, additional qualifying products added, cancellation of a product, payment lapses, market changes, two-pot withdrawals from your retirement plan, and other reasons depending on the participating product) it could affect the current value of your Wealth Bonus.
Each participating Wealth Bonus product comes with a unique set of rules as to when the Wealth Bonus value can be accessed. Depending on the product/s you have with Sanlam, you will be able to access, or unlock, Wealth Bonus funds at predetermined intervals.
For example, with a Sanlam Money Saver credit card you can withdraw the Wealth Bonus you earned via the card every quarter/annually. However, Wealth Bonus you earn on your Cumulus Echo Retirement Plan (RA) will only be available to you as part of any two-pot retirement system savings withdrawal, when you terminate the plan or retire. Please note that Wealth Bonus on the Cumulus Echo RA is part of the retirement proceeds and is subject to pension fund rules.
Your Wealth Bonus calculation depends on the product you buy. Some products contribute a percentage of your monthly contribution towards your Wealth Bonus. With other products, your Wealth Bonus is based on the accumulated fund value which is impacted by the positive or negative growth of the market.
How much Wealth Bonus you get over time is affected by the following factors:
You can grow your Wealth Bonus by adding more participating products to your Sanlam Group portfolio. Each product you add means another product helping you grow your Wealth Bonus every month.
You can also earn more Wealth Bonus with Wealth Bonus Boosters (which give you additional Wealth Bonus on top of the Wealth Bonus you currently earn) by having a combination of two products.
The longer you keep your Wealth Bonus, the more it will grow over time due to compounding interest.
Wealth Bonus Booster is additional Wealth Bonus on top of the Wealth Bonus you already earn on the participating products. It is available to graduates and professionals within certain age brackets, paying certain minimum premiums and who have the following two products:
Health Boost gives you an additional 15% Wealth Bonus you already earn if you have a Sanlam Matrix Premier plan and you belong to a Fedhealth Medical aid scheme.
Extended Wealth Bonus provides even greater value to you for keeping your Sanlam Matrix Premier or Sanlam Matrix Premier Smart plan active beyond the age of 70, after your Wealth Bonus has become fully unlocked.
This benefit allows for the continued accumulation of additional Wealth Bonus amounts, which are unlocked at certain milestone ages from age 75 until the age of 100.
You qualify if your policy includes Wealth Bonus from when it was issued on or after 1 January 2024, is still active, and has at least one benefit that lasts until or past age 75.
Partial Unlocks: Beginning at age 75, 50% of the accumulated Extended Wealth Bonus unlocks every five years. From age 90 this will happen annually.
Final Unlock: At age 100, the full remaining amount becomes available.
In the event of a product holder passing away, any unlocked Wealth Bonus amount will be paid out immediately to the holder’s estate or to their beneficiaries. Access to any ‘locked’ amount will depend on the specific rules of the participating product.
No. Your Wealth Bonus monetary rewards aren’t savings, so you won’t be able to add your own ad hoc contributions.
If you remove a participating product from your portfolio, you would lose any locked Wealth Bonus associated with that product. This will also have an impact on your future Wealth Bonus value (the amount you’ll have in the future). Please check your specific product rules to find out more.
If you cancel a product which is a qualifying product to earn one of the Wealth Bonus Boosters, you will lose your locked Wealth Bonus Booster value.
Please refer to your Wealth Bonus contract or policy contract for more information or speak to your financial advisor.
