Sanlam Actuarial Bursary

Written by Keagan HendricksStaff Writer (Unisa Alumnus)

Reviewed & verified by Naledi KhumaloSenior Admissions and Bursaries EditorVerified

Sanlam funds South African students who want to qualify as actuaries, and it takes applications from two groups: Grade 12 learners who plan to enrol for Actuarial Science, and students already in their first, second or third year of the degree. The bursary sits inside a wider Sanlam actuarial community of roughly 300 actuaries and actuarial students, and it ends with guaranteed employment at Sanlam once the bursar has finished studying. The intake that funds the 2027 academic year closed on 30 June 2026.

This page covers only the actuarial bursary. Sanlam runs separate schemes for chartered accountancy and IT students, and those have their own rules.

What a Sanlam actuarial bursar receives

Sanlam lists the following benefits on its actuarial bursary page. It does not publish a rand value or an annual cap.

• tuition and accommodation fees;
• an allowance for costs such as books and travel;
• work rotations across a range of actuarial disciplines;
• mentoring and academic support from Sanlam actuarial professionals;
• vacation work and networking for senior students;
• support with actuarial board exams, including payment of exam fees;
• a guaranteed job at Sanlam after the studies are completed.

The exam support matters more than it might seem. After the degree, an actuarial student still has to pass the professional exams of the Actuarial Society of South Africa, which usually takes several years of study alongside work. Sanlam says its bursary holders also have a bursary-holder liaison officer who checks that they get the support they need, and a 26-member Sanlam Committee for Actuarial Support (SANCAS), made up of actuarial students, qualified actuaries and business representatives, runs mentoring, information sessions, study guidance and vacation work for graduates and bursars.

The Grade 12 route needs above 90% in Mathematics

Sanlam sets a high bar for school leavers. Matric applicants need a Mathematics mark above 90% and an overall A aggregate, and Sanlam notes that final Grade 12 results may be used as a deciding factor. The documents to upload are:

• final Grade 11 results and Grade 12 mid-year results;
• National Benchmark Test (NBT) results;
• a CV that focuses on academics, extra-mural activities and leadership;
• a motivation letter (see the questions below).

Because the window closes at the end of June, a Grade 12 learner applies with mid-year marks and NBT results, before the final exams are written. Learners who want to be considered should book the NBT early in their matric year.

Students already registered for Actuarial Science

University applicants must be South African citizens studying Actuarial Science full time and currently in first, second or third year, with demonstrated academic ability. They submit full academic transcripts, proof of registration or a fee statement, a copy of the matric certificate, a copy of the ID, a CV of the same kind as the matric route, and the motivation letter. Sanlam’s page does not mention fourth-year or Honours students, so students past third year should not assume they are eligible.

The five questions in the motivation letter

Both groups write a letter “in your own words” that answers the same five questions set by Sanlam:

1. Describe what an actuary does.
2. Why do you want to study actuarial science?
3. Why do you believe you have what it takes to become an actuary?
4. Why should Sanlam choose you to be a bursary holder?
5. If you are not successful at becoming an actuary, what other career paths are you considering?

The last question deserves a real answer rather than a polite one: Sanlam is asking whether the applicant has a plan if the degree or the professional exams do not work out.

The February to June application window

Sanlam says applications open on 1 February and close on 30 June every year. It accepts online applications only, with all the documents attached, and states that nothing sent by email or after the closing date will be considered. Awards are made on merit and in line with Sanlam’s employment equity plan. The 2027 posting on the Sanlam careers portal now shows as filled, so the next chance to apply is the February to June 2027 window. Queries go to ActuarialBursaries@sanlam.co.za.

Students comparing insurers can look at the Old Mutual actuarial bursary and the wider list of actuarial science bursaries. Sanlam’s other student schemes are listed on its provider profile.

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