Sanlam – Payment of the Death Benefit options

In 2019 Sanlam introduced two options for the payment of the death benefit in order to prevent disputes at claim stage.

All Employer groups choose one of the following two options that apply to every claim:

Option 1 (the default option) : Claims will be paid to the Insured’s Dependants and/or Nominees as solely decided by the Employer and in proportions deemed equitable by the Employer.

Option 2: Claims will be paid to the Insured’s nominees designated on a prescribed beneficiary nomination form. If this option is selected, the absence of a valid nomination form means the benefit will be paid to the estate.

Based on the communication we sent out in January 2019 where no feedback was received, during this period (January 2019 to March 2019), the default option was applied (in other words the benefit will be payable in accordance with the Employer’s discretion).

Please refer to the Certificate of Participation for the decision that is being applied on each scheme and ensure that all parties are comfortable with the decision. 
Please do not hesitate to contact your TSA Associate or our office if you have any questions relating to these decisions. 

Thank you and regards,
The TSA Team

Vol 9 Issue 10
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