Sanlam – Acceptance Form Enhancements

Sanlam have advised of some changes to their new business Acceptance Form. These changes are partly to meet with updated compliance requirements and also to provide more clarity around cover being put in place and the parties involved in the process. The changes include the following:

  • Due to changes in legislation, Sanlam is obligated to perform due diligence on all parties at implementation and during certain party interactions. This will require some additional information about the ownership of the company on a new Annexure.
  • They have included a section that needs to be completed when a scheme is brought on by a Sanlam Financial Advisor or Sanlam Employee Benefits BlueStar consultant. This will assist in the payment of commission.
  • Additional information relating to the operational (trade) name and industry of the employer is required.
  • Confirmation of whether there are any disability claimants or contract workers on a scheme is asked for.
  • Confirmation of the definition of the salaries to be used is asked for.
  • Confirmation of the employer’s options regarding payment of the death benefit is required (a further TSA Connect will follow with more detail on this change).

A copy of the new Sanlam Acceptance form (in PDF format) can be downloaded here and will come into use 1 February 2019, replacing the previous version.

Please do not hesitate to contact your TSA Associate or our office if you have any questions relating to the changes.

Kind regards,
The TSA Team

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(Vol. 8 Issue 1)

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