miLegacy is an income protection plan that allows your family to live out their dreams in the unfortunate event of your death, total permanent disability or diagnoses of a covered critical illness. The plan pays your family a substantial amount of money which would cover their expenses for a considerable length of time.

Who is this Policy for?

• Anyone who is the breadwinner in his/her family
• Anyone with dependents
• Anyone who wants to protect the dreams and wellbeing of their spouses and children, even in their absence

Eligibility

You will have to be between the ages of 18 years and 58 years to be eligible to purchase this policy.

Cover and Benefits

A standard miLegacy plan provides cover against death and total permanent disability, while a comprehensive miLegacy plan provides cover against death, total permanent disability and named critical illnesses.

While the disability and critical illness covers end at age 60, the death cover continues for as long as you live.

At the time of purchasing this policy, you select your desired level of cover which determines your monthly premium.

In the unfortunate event of your death, your death benefit will be paid to your beneficiary, while total permanent disability and critical illness benefits will be paid to you in any of those cases.

Premium Payment

Premium payment starts at the purchase of the policy and ends:

• • When you turn 60 years, if you purchased the policy before or on your 50^th birthday; or
  • Ten years after you purchased the policy, if you purchased the policy after your 50^th birthday

Other Features

• To protect your benefits against inflation, the policy includes a 10% automatic premium adjustment and a 7.5% benefit adjustment, to be applied annually.
• A cashback benefit of 5% of annual premiums will be paid back to you at each policy anniversary, provided no claim is made.

Optional Benefits

• You may choose to cover your biological parents until their deaths, if you purchase the policy before you turn 50.
• You may also choose to make additional premium contributions towards a purely investment account.

Advantage of this Plan

• The miLegacy plan ensures that no matter how long you live, you are still covered, unlike many of the income protection plans that cease at a specified age - meaning that there is a real chance of you outliving your policy and losing out on the benefit.