12 May 2025
We would like to provide some clarity on how our Life Annuity special offers integrate with the standard Advance Guarantee process.
Advance Guarantee: standard process
- Advance Guarantee is available on all internal transfers, i.e. transfers from Sanlam policies, Glacier plans, and the Sanlam/Santam Staff Umbrella fund.
- It is available for both compulsory and optional money transfers.
- The quotation, signed application form and addendum must be submitted by the intermediary to Sanlam within 2 business days following the week in which the quote was generated.
Special offers (valid until 12 December 2025)
Special offer 1: Advance Guarantee also available for funds from an external source
- This offer is only available for compulsory money transfers.
- The process remains the same: The quotation, signed application form and addendum must be submitted by the intermediary to Sanlam within 2 business days following the week in which the quote was generated.
Special offer 2: Rate improvements on Life Annuities
- An intermediary can apply for a rate improvement for external and internal funds where we are competing with another provider.
- A rate improvement can only be requested for compulsory money transfers.
- A like-for-like Sanlam and competitor quote will be required within the current rate week.
- Only one scenario can be submitted for comparison purposes.
- A minimum investment amount of R2.5 million is required.
- The difference in gross income between Sanlam and the competitor quote must not be greater than 10%.
- All requests must be submitted to your Glacier BDM/BDC, who will follow the necessary process to obtain a rate improvement quote from Product Development.
- The SLA is 48 hours.
- Note: We do not guarantee that a rate will be matched or improved.
- The special quotation obtained from Product Development, signed application form and addendum for the Advance Guarantee must be submitted to Sanlam within 2 business days following the week in which the quote was generated.
Please note: if a special rate is quoted and accepted, an Advance Guarantee addendum is required to be completed and submitted within the required time. If this was not done within the timeframe, the special rate will be forfeited.
Please contact your Glacier BDM or Life/Covered BDM if you have additional questions or concerns.
