About Bounty

Bounty. The best thing to happen to insurance, since insurance.

When you become an Indie client, we do something crazy - we match up to 100% of your monthly premium in an investment, just for you, at no extra cost. Here’s what that’s all about.

About Bounty

How does Bounty work?

Every time you pay a premium, we invest up to 100% of that premium back into you. When you skip a premium (and by the way, we’re totally cool with that), we don’t invest that month. It’s a simple (and yes, we think motivating) reason for you to pay your monthly premiums.

Why Bounty?

It’s our solution to a common problem - “If I’m spending my money on stuff like life insurance, how am I supposed to save for the future?” Bounty is Indie’s answer to that question. Now you don’t have to do one or the other, because Indie lets you do both by matching up to 100% of your premium into an investment, every month.

Why not just CashBack?

You may think getting your premiums back is awesome, but true story: it’s not. Remember how your grandparents could buy a car for 5 bucks or something equally ridiculous? Money loses value over time – CashBacks short change you.

Is Bounty a real investment?

Short answer? Heck yes. We’re backed by Sanlam, South Africa’s Wealthsmiths. Your Bounty tracks the Money Market Index and begins growing from day one, keeping up with inflation, ensuring real growth over your lifetime. Start young enough with Indie and your Bounty will eclipse your insurance premiums.

What do we mean when we say “matching”?

Your Indie premium pays for your insurance – world-class and fully-underwritten (meaning quality and guaranteed.) Indie will invest an additional amount, with every premium - matching anywhere from 50-100%, based on your age.

If you’re under 30, Indie will match your premium Rand for Rand. If you’re 55, Indie will match 50c for every R1 of your premium. Point is, like any form of investing, the younger you start, the better.

You can find a full table of how of your premium Indie matches, right here.

When do I get my Bounty investment?

Your full Bounty unlocks at age 70, as a retirement boost with years of growth. But you can access 10% of your investment, along with the growth every few years.

Full Bounty: Age 70 = 100% of invested amount + growth

CashDrop: 60 premiums (5 years) = 10% of invested amount + growth

How does Indie pull this off?

Simply put, we use smarter technology than other insurers to calculate your premiums more accurately. And we cut out many of the middlemen. Usually, it’s really expensive to sell life insurance. About 30% of an average premium goes towards covering the costs of a financial advisor and the supporting staff who have assisted you. Because we are 100% digital, we don't have to pay all the extra costs and we can pass the savings to you as an investment.

Claims & Bounty

What happens to Bounty when I claim?

Best case scenario: you’ll never have to claim and, if you keep your cover and keep paying your premiums until your 70th, your full Bounty will be yours just in time for that rocking(chair) party.

Worst case scenario: you may need to claim, which’ll probably mean you’re either disabled, have a very serious illness, or…um…you’re dead (sorry).

The impact your claim will have on your Bounty is going to depend on the type of claim. Bounty is for the living, so if you’re worm food, it’s no longer for you.

But CashDrops that you didn’t cash out, will be paid out to your beneficiaries or your estate, along with the claim payout.

The locked part of the Bounty that you would’ve received at 70 does not get paid because, if we did that for everyone who died, we’d have to make premiums a lot higher from the start.

If you become disabled, or seriously ill, you’ll keep your Bounty as long as you stick with Indie and continue paying your premiums until you reach age 70.  

Premiums & Bounty

What happens when premiums go up or down?

Bounty investments always match your premiums with a proportionate payment, e.g. 100% if you’re 20-30 years old, so if your premium gets bigger or smaller, our monthly contribution will grow or diminish proportionately. The Bounty you’ve already earned remains untouched and continues to grow.

What happens to my Bounty if I cancel my policy or it lapses because I skipped too many premiums?

If you cancel your policy or you skip too many premiums and your policy lapses, you will no longer have life insurance cover and you’ll lose your Bounty.