How Long Does Sanlam Take to Pay Out?
How long does Sanlam take to pay out? It’s a question that you will be asking yourself if you have lodged a claim with the company. Sanlam is one of the most popular insurance companies in South Africa. They offer a wide range of products, including life insurance, funeral cover, retirement annuities and much more. You are here because you have made a claim and you are now waiting impatiently for your money to be released. So, how long do you need to wait?
Sanlam Payout Time
The following are the estimated payout periods for different Sanlam products;
| Product | Payout period |
|---|---|
| Umbrella fund | 4 – 5 days |
| Life Insurance + Quick Payout | 1-2 days (for the quick payout component) |
| Provident Fund (on termination of employment) | 6 weeks after termination of employment |
| Funeral cover | 4 hours |
| Retirement Annuity | 2 weeks |
Sanlam offers quick payouts on some products
That is the answer to the question, how long does Sanlam take to pay out. As you can see, the payout periods are different depending to the product.
For some products, payouts are fairly quick. This applies for the funeral cover and for the quick payout component of life insurance.
There is an understanding here that with funeral expenses, money needs to be released quickly to help out families in times of bereavement.
Here is how to claim Cashback at Sanlam
Rounding up
In this post, we focused on the payout period for Sanlam’s different products. It was noted that the company is one of the most popular when it comes to the provision of insurance and other products to South Africans.
The payout period depends on the product that you have signed up for. For their funeral cover and for the Quick payout component of their life insurance, Sanlam tries to release funds within a few hours to help out with expenses.
Sanlam insurance contact details