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Buy a funeral policy. Or save for your future. Stark choices.

With Indie, why not do both?

In a recent edition of the Sunday Times, there were some pretty sad data published around the state of South Africans’ retirement provisions. For those who missed it, here are the highlights:

  • 62% of economically active South Africans have no retirement plan, or only a vague plan based mostly on hope
  • Most South Africans regret not starting to save sooner
  • Many more South Africans have funeral cover rather than retirement savings
  • Black South Africans have proportionally more funeral cover than any other race group
  • South Africans have proportionally less retirement savings than any other race group

We know that saving for retirement, particularly if you can start saving at a young age, is incredibly important. At Indie, we saw the potential to transform a product category that so many South Africans turn to as a safety net given the expenses and expectations around funerals.


Now, instead of having to choose between saving for the future and a dignified funeral, you can do both.


Indie Funeral Cover creates Wealth

Every single Indie policy, from Funeral Cover to comprehensive Critical Illness Cover, comes with a baked-in Wealth Bonus. We match up to 100% of each and every premium you pay into your Wealth Bonus. We also allow you to add up to 20 family members to one Indie Funeral policy, and you as the main member receive the reward of the Wealth Bonus for each one. Your Wealth Bonus is then invested by the smart people at Sanlam, and all the growth, as well as the contributions, become yours. With the power of compound interest, the Wealth Bonus can create extraordinary value for our clients over time.

And, after two years, we’ll double your Funeral cover at no extra cost as a reward for being a loyal client.
That's a pretty sweet deal.


How much could my Wealth Bonus be?

The percentage we match into your Wealth Bonus depends on your age, with under 30s getting a full 100% allocation.

Example 1: 25-year-old spending R250 per month on Indie Cover.

This client could have R3.2 million in Wealth Bonus by age 70.


Example 2: 35-year-old spending R300 per month on Indie Cover.

This client could have R1.1 million in Wealth Bonus by age 70.


Example 3: 45-year-old spending R500 per month on Indie Cover.

This client could have R500,000 in Wealth Bonus by age 70.


Premium and cover are profile dependent and for illustration only. Projected future value is based on average assumptions and not guaranteed.


When do I get my Wealth Bonus?

You will be entitled to withdraw 10% of your Wealth Bonus every 5 years. You don’t have to withdraw it though – you can let the full amount continue to grow. Whatever is left in your Wealth Bonus at age 70 (including years of compound interest) is yours to take. Think of it as your reward for staying alive.

How is my Wealth Bonus invested?

We will automatically put it in a Money Market investment which grows steadily.

Will I pay tax on my Wealth Bonus?

The growth on your Wealth Bonus is taxed over time, so any money you take out at the end is completely tax-free.

Are there any restrictions on what I must use my Wealth Bonus for?

Nope. When we pay it over to you, it’s cold, hard cash. Do whatever you want with it.

How much extra does this cost me?

Nothing. Lutho. Nto.
Our funeral plans are very competitively priced. Indie is backed by Sanlam, so it’s the same quality cover, provided by a company you can trust.
We’re not charging you any more for your funeral cover than you would pay from any other reputable funeral policy provider.
It’s really a win-win.

Riiiight, so what’s the catch?

No catch. It’s simple: just say an active client, and you’ll get all the Wealth Bonus which is due to you.

Ahhh, ok. So if I hit money trouble and have to lapse, I’ll lose it all?

Nah – we're about creating wealth, not destroying it. You can skip a premium whenever you want, with no impact on your Wealth Bonus. And we won’t try to double deduct your premium the month after you skip one.

In fact, your policy will start with 4 free “premium skips”, which you can use at any time. And every year, we’ll give you 2 more premium skips. You can skip a total of 5 consecutive premiums without your policy lapsing, provided you have 5 skips available to you.

*Note that your cover is temporarily reduced when you skip a premium, but it remains active so you’re still protected.

Ok, fine. That’s pretty cool. So I assume your premiums are going to grow to become unaffordable?

Nope, we also don’t do that. Our funeral policies have a level premium, so they don’t increase. Our underwritten policy premiums (like life cover) do increase every year, but you always have the choice to take less cover and lower your premiums whenever you want. When you do that, there will be no impact on your Wealth Bonus.

Ok, there’s a catch here and I’m going to find it.
If I can skip a premium, and can also adjust my premium down - then surely you’re reducing my cover over time?

Wrong again. In fact, with our funeral plan, after 2 years we DOUBLE your cover without increasing your premium.

What!? You DOUBLE my cover with no cost implication?

That’s right. Have your funeral cover with us for 2 years, and your cover doubles from that point onwards. Up to R100,000 funeral cover for the price of R50,000.

Are you going to pay claims?

All valid claims will definitely be paid! The contract is actually with Sanlam itself, so if you trust Sanlam to pay claims (you should), then you can trust the Indie policy too.

Should I cancel my other funeral cover and buy yours?

We can’t TELL you to do that, or even recommend it – so the choice is yours – but we know you're smart enough to make the right call ;)


Get life insurance.
Get a Wealth Bonus.
Get living.

Only Indie gives you an investment that creates wealth while you insure yourself.

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