Sanlam wealth bonus loyalty program review 2024

The Wealth Bonus loyalty program offered by Sanlam stands out as one of South Africa’s most rewarding programs. Not only […]

Sanlam wealth bonus loyalty program

The Wealth Bonus loyalty program offered by Sanlam stands out as one of South Africa’s most rewarding programs. Not only is it highly rewarding, but it’s also renowned for its innovation and customer-centric approach.

This loyalty program encourages savings and wealth generation among loan account holders, policyholders, and members of medical schemes, helping them build a secure financial future. Sanlam achieves this by offering cashback alongside a wealth bonus.

Participants in the program can earn up to 5% cashback on cash purchases by using their Sanlam Money Saver Credit Card at participating stores, showcasing the program’s value, especially when compared to typical rewards schemes in South Africa that offer up to 3% cashback.

The Wealth Bonus doesn’t just sit idle in an account; it’s invested strategically to grow through compounding returns. This means that participants can actively utilize their Wealth Bonus by monitoring the market and predicting its growth.

It’s worth noting that not all Sanlam products are eligible for the Wealth Bonus, and the calculation of the wealth bonus can vary. For example, one product may offer cashback, while another may invest 100% of premiums.

Before delving deeper into the Sanlam Wealth Bonus Loyalty Programme, let’s first understand how it works and then assess its pros and cons.

Sanlam Wealth Bonus Loyalty Programme Summary 

The Money Bonus was introduced in early 2021 with the aim of motivating Sanlam product holders to invest and grow their wealth. Unlike a standalone product, the Wealth Bonus is an outcome linked to various Sanlam products. It tracks a person’s actions and rewards them for using specific products or making purchases.

Each of Sanlam’s products comes with its own Wealth Bonus, tailored to assist policyholders or account holders in gradually accumulating wealth. The Wealth Bonus operates differently depending on the product involved, designed thoughtfully to incentivize beneficial behaviors.

Clients can earn a Wealth Bonus by simply acquiring an insurance product or by meeting certain criteria. Sanlam’s discounts and rewards contribute to the Wealth Bonus, which is held for a predetermined period. In many cases, this money is invested in an investment portfolio to generate interest.

Certain conditions must be met before accessing the funds. For example, Sanlam Money Saver Credit Card customers may receive their Wealth Bonus quarterly or annually. Additionally, the Wealth Bonus is subject to the terms and conditions of other products.

In the event of a Sanlam product holder’s death with an existing Wealth Bonus, the money becomes part of their estate. Moreover, the owner of the Wealth Bonus can designate a beneficiary. However, the distribution of the Wealth Bonus is determined by the specific Sanlam product chosen.

How the Sanlam Wealth Bonus Loyalty Programme works

Sanlam’s Wealth Bonus does not require an application in order to participate in the loyalty program. There is no monthly service fee associated with the loyalty program. The following products automatically include the Wealth Bonus:

  • Sanlam Indie products, 
  • Matrix Premier products, 
  • Cumulus Echo Retirement Plan, 
  • Sanlam Cumulus Echo Preservers, 
  • Sanlam Money Saver Credit Card, and
  • The Sanlam Wealth Edge Endowment Plan. 

Each product has its own unique wealth bonus earning rules, which you must be aware of in order to receive the highest cashback. When you make transactions or spend more wisely, you will receive cashback based on the rules specified on the participating Sanlam product.

The Wealth Bonus behaves differently depending on the product. When the Wealth Bonus is unlocked, one can obtain money from it. When it unlocks, the money will be accessible for you to use for whatever you wish.

You have the option to keep your wealth bonus and watch it grow at no expense. By purchasing participating Sanlam products, you can increase your wealth bonus. You will receive a greater wealth bonus each month if you purchase an additional product. Furthermore, you can earn a wealth bonus by shopping at Sanlam partner stores.

To get your wealth bonus, go to the Sanlam website and register for an account. If you already have an account, simply enter your passport or ID number to log in. The dashboard will then appear, showcasing your wealth bonus and other statistics.

Advantages of the Sanlam wealth bonus loyalty programme 

  • The rewards program is free to join and there is no membership cost.
  • The Wealth Bonus Loyalty Programme is included with many Sanlam products and does not require a product holder to apply.
  • The money you get back from Wealth Bonus is invested and the interest you earn is capitalized.
  • A Wealth Bonus can be earned in a variety of ways, including through shopping at Sanlam partner stores.
  • Wealth Bonus Loyalty members can include the product in their will and name a beneficiary.
  • Through Wealth Bonus, you can get a 5% cashback.

Disadvantages of the Sanlam wealth bonus loyalty programme 

  • The loyalty program can be confusing to many since it functions differently on participating Sanlam products. 
  • Money is first locked until the member reaches a certain stage. 


Sanlam Wealth Bonus is a loyalty program that is causing a stir in the customer rewards market, despite the fact that it has just been operational for over a year. The fact that the loyalty program is assisting Sanlam clients in building wealth is unprecedented in South Africa. However, because Wealth Bonus behaves differently depending on the product, it has the potential to confuse individuals.

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