The Wealth Bonus loyalty program from Sanlam is one of the most rewarding in South Africa. Sanlam Wealth Bonus Loyalty Program is not only one of the most rewarding, but also one of the most innovative and customer-centric loyalty programs available.
By encouraging loan account holders, policyholders, and members of medical schemes to save money for their future and generate wealth, the program truly aids members in building their wealth. Sanlam accomplishes this by providing cashback together with a wealth bonus.
Members of the loyalty program can earn up to 5% cashback on cash purchases when they use their Sanlam Money Saver Credit Card at participating stores, demonstrating the value of the program. This is uncommon in South Africa, where rewards schemes offer up to 3% cashback.
Money is not simply kept in the Wealth Bonus account; it is invested to grow with compounding returns. A Wealth Bonus can be utilized to make money by keeping watch on the market and predicting its growth.
It’s important to note that not all Sanlam goods qualify for the Wealth Bonus. In other cases, the wealth bonus is calculated differently. For instance, a wealth bonus may provide cashback on one Sanlam product while another product may provide 100% of premiums as an investment.
Before we go any further with the Sanlam Wealth Bonus Loyalty Programme, let’s go through how the product works and then explore its advantages and disadvantages.
The Money Bonus was first presented in early 2021 to encourage Sanlam product holders to invest and grow their wealth. The Wealth Bonus is not a stand-alone product; rather, it is a consequence of a number of Sanlam products. Wealth Bonus keeps track of a person’s actions and rewards them for using a given product or making purchases.
Sanlam’s products come with their own wealth bonus. The Wealth Bonus behaves differently depending on the product. A Wealth Bonus has been thoughtfully designed for various products with the goal of assisting policyholders or account holders in gradually building wealth.
Clients can receive a wealth bonus by just taking out an insurance product or by behaving in a certain way. Sanlam’s discounts and awards go to the Wealth Bonus, which is held for a set amount of time. In many circumstances, the money is invested in an investment portfolio to earn interest.
A set of criteria must be met before the money can be accessed. Sanlam Money Saver Credit Card customers, for example, can only get their wealth bonus once a quarter or once a year. The Wealth Bonus is also subject to the terms and conditions of other products.
If a Sanlam product holder dies and has a wealth bonus, the money will be included in their estate. Furthermore, the Wealth Bonus owner has the option of naming a beneficiary. The manner in which the wealth bonus is distributed, however, is determined by the Sanlam product selected.
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:
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.
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.