New benefit
LegalWise Legacy Accumulator
A new lump sum cash loyalty benefit which will assist the nominated beneficiaries in the event of the passing of the main Member. Effective from 1 January 2024.
Introducing the LegalWise Legacy Accumulator, a benefit designed to offer both peace of mind and essential financial support during challenging times. This lump sum cash loyalty benefit is a testament to our commitment to our Members and their families. In the unfortunate event of the main Member's passing, the Legacy Accumulator steps in to provide immediate assistance to the nominated beneficiaries.
What is the Legacy Accumulator Benefit?
The LegalWise Legacy Accumulator is a new lump sum cash loyalty benefit which will assist the nominated beneficiaries in the event of the passing of the main Member. The LegalWise Legacy Accumulator provides immediate financial support to the beneficiaries of main Members at no additional cost.
Features and benefits
> It offers peace of mind.
> It gives the beneficiary access to cash to assist them financially.
> It can help pay for living expenses such as rent, mortgage, utilities, and groceries, settling outstanding debts, providing for child care costs and school fees, or even ensuring access to funds for mental health support through counselling.
> It rewards the main Member's loyalty.
How does it work?
> Included in our GoldPLUS and Platinum Membership options at no additional cost. The lump sum cash pay-out is in the event of the main Member's passing.*
> 3 month waiting period.
> Pays out a lump sum – in cash – to the value of the main Member's continuous premiums received over the most recent 36 months. So, the longer the main Member remains a GoldPLUS or Platinum Member the greater the benefit received by the beneficiary.
> Cash is paid out within 48 hours of receiving the necessary claim documents.*
*Terms and conditions apply. Refer to the LegalWise Membership Agreement.
3 easy ways to upgrade your Membership
1. Call 086 155 5654
2. Visit your nearest LegalWise Branch
3. LegalWise App
Example on the LegalWise Platinum Membership option |
Scenario 1 - Main Members dies on 31 December 2025 LegalWise will pay out R8 694** in cash (R1 980 + R4 320 + R2394) |
Scenario 2 - Main Member dies on 1 July 2026 LegalWise will pay out R11 088** in cash (R1 980 + R4 320 + R4788) |
Scenario 3 - Main Member dies on 31 December 2026 LegalWise will pay out R13 728** in cash (R1 980 + R4 320 + R4 788 + R2640) |
Accumulation on the LegalWise Platinum Membership option | |
1 January 2024 - 30 June 2024 | R330 per month = R1 980 accumulated benefit |
1 July 2024 - 30 June 2025 | R360** per month = R4 320 accumulated benefit |
1 July 2025 - 30 June 2026 | R399** per month = R4 788 accumulated benefit |
1 July 2026 - 30 June 2027 | R440** per month = R5 280 accumulated benefit |
**Assumes an annual premium rerate of 9,1%, 10,8% and 10,2% respectively.