Definition of salary – Sanlam

When running quotes for Sanlam, they require the risk salary to be used. Please make sure you are familiar with their risk salary definition.

  • Risk salary: The risk salary upon which the cover is based, is normally defined as the member’s total cost to company, however, the risk salary may also be defined as a percentage of the member’s total cost to company, e.g. pensionable salary.

The risk salary definition must be applied consistently for members of a scheme and it may, therefore, not be implemented as an individual member choice where every member may choose a different definition or percentage.

Should you require more information, please contact your Associate or the office.

Thank you and regards,

The TSA Team

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