Sanlam Employee Benefits: Group Risk (hereafter referred to as Sanlam) offers a conversion option to accommodate employees wanting to convert their group cover into individual insurance upon leaving an employer’s service.

The maximum age at entry, in respect of Income Disability and Critical Illness insurance policies, is 65 years, depending on the employer’s choice and normal retirement age (NRA).  Should the employer policy provide for a conversion option on the benefits (stated above), an employee will be able to exercise the conversion option if he/she is younger than 60 years.

Sanlam is, in collaboration with all relevant stakeholders, changing the ‘younger than 60 years’ to allow employees younger than 65 years, and who have not yet reached the NRA, to exercise the conversion option.

All other conditions will remain unchanged.