Can I use my Sanlam Life Cover to pay off debt?


Question:

If I have a Sanlam Life Cover policy. Can I use it to pay off my debt, and how long must I wait before I can use the money?

Answer:

Nadia,

No. Your Sanlam Life Cover will only be paid out to your beneficiaries, and only in the event of your passing, and only if you still have the cover at the time.

The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.


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