#It’sNotaTem
poraryIncom
eProtector
The Graduate Backpack
The case for income & lump sum benefits
… the first 24 months
Sickness
Benefit
Temporary
Disability
Benefits that satisfy the need,
usually up to 24 months
Permanent
Disability
Temporary
Income
Protector
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
… the first 24 months
Let’s now
focus on
disability,
during the
first 24
months
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
… the first 24 months
Clients that qualify for a
Sickness Benefit
should never be sold a
Temporary Income
Protector-type Benefit!
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
Sanlam’s Sickness Benefit
#It’s
Not A
Temporary
Income
Protector
Benefit
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
Sanlam’s Sickness Benefit
Temporary disability income
benefits are often compared to
Sanlam’s Sickness Benefit
These two benefits
cannot be
… the focus usually on features
compared,
heretoare
that are not that relevant
the
purpose for which the benefit is
the reasons
being bought!why!
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
Sickness Benefit / Temporary Income Benefit Q&A
The reasons why these benefits should never be compared
Sickness Benefit
Temporary
Income Benefit
Yes
No
Yes
No
If self-employed, does the definition of income include
overheads?
Yes
No
Does the client experience comprehensive cover during
“special leave”?
Yes
No
Yes
No
Is this benefit exclusively available to professionals and
graduates?
1
Are all claim pay-outs during the benefit term free of
aggregation?
2
3
4
5
Is a sick note and a claim form the only requirements for a
claim?
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
The claims process
Sickness Benefit vs Temporary Disability Income Protector
Sickness Benefit at claim stage
• What is the illness or injury?
• Have you been booked off by a MD?
• If yes, claim submitted…
TDIP benefit at claim stage
• What is the illness or injury?
• What is you job description?
• Does this illness or injury prevent you
from doing a material or substantial
part of your job?
• If yes, claim submitted…
•
•
•
•
No proof/loss of income required
No aggregation
Pays even whilst on leave
The Graduate
Backpack
SILSS
Distribution
Support
•
There may be a request for
proof/loss of income
There may be aggregation
The case for income & lump sum
benefits
Graduates
Sickness Benefit / Temporary Income Benefit Q&A
Wait there’s more!
Temporary
Income Benefit
Yes
No
Yes
No
Is hospitalisation a requirement for certain claims to be
back-dated to day-1?
No
Yes
Does employment status e.g. self-employed determine
whether your 7-day waiting period is back-dated to day-1?
No
Yes
No
Yes
Is the 7-day waiting period applicable to all claims?
(E.g. sinusitis, flu, bronchitis)
6
Is the 7-day waiting period back-dated to day-1 for all
claims?
7
8
9
10
Sickness Benefit
Is proof/loss of income a measure that could be used at claim
stage?
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
Our score for the Sickness Benefit?
2
1
8459637
10
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
Why a Sickness Benefit to satisfy the temporary
income protection need for qualifying clients?
⧁ Comprehensive cover
⧁ Richness of benefits
⧁ Ease of claim
⧁ Speed of payment
⧁ Exclusive risk pool (graduates &
professionals)
⧁ Certainty, certainty, certainty
⧁ Peace of mind
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
In summary
•
•
•
A Sickness Benefit is different to a
temporary income protector-type
benefit
The differences are so significant that
these benefits should never be
compared
Sickness Benefit is therefore a straight
forward choice for qualifying clients
The Graduate
Backpack
SILSS
Distribution
Support
The case for income & lump sum
benefits
Graduates
thank you
The Graduate Backpack
The case for income & lump sum benefits
The Graduate Backpack
The case for income & lump sum benefits