You're dedicated to your children, do you have cover that does the same?
Our education cover was designed by parents, for parents and can be easily customized to fit your specific requirements and budget without any hidden agendas.
Cover for your kids'
education & care needs is important,
and here's why:
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Meet Siphokazi.
Siphokazi and her best friend did so much together, and even had children at the same time, allowing them to share the lessons and experiences that come with raising them.
Tragically…
Siphokazi lost her best friend, who was a single mother and had not saved much
for her children by then.
She did what many of us would have done
and welcomed her friend's children into her home and tried to bring them up
as best as she could, despite the financial strain.
The Realisation
Siphokazi realised that if her best friend had taken
cover for her children's care and education needs, money in their
household would be less of an issue.
Siphokazi did not want to repeat this mistake
and for R 285 per month, protected her children with an EduCare™ policy.
Why do education cover with Capital Legacy?
Because our solution does
what no other offer can
It's insurance but...
It’s not a black hole if nothing happens to you and pays cash as well as converts to normal life cover when your kids are no longer kids
It protects what you paid for...
You do not need to choose someone to trust the money to, it automatically creates a trust for the sole benefit of your kids that has no costs for us to administer it
Life-changing benefits...
Whether you want your children to have enough for medical studies; study abroad; pay for wifi or get something when they turn 18, the cover can do it all for less than you'd expect.
It does some good...
A portion of every premium goes to the "Benefactor for Good", a bursary program via a charitable trust for promising kids who need a leg-up in life.
Our trustees are parents who can relate while fulfilling their fiduciary duty to your children
Did you know…
After managing the estate closures of numerous clients with children, we recognized a common issue: many of our clients had not saved enough and their life cover for their kids was inadequate. As a result, we created a solution that addresses this problem early on and puts your mind at ease.
How much is needed to cover their care and education needs?
To simplify the process, we offer three coverage options based on the type of
education
you wish to provide, and each option provides essential coverage for your children's
living expenses.
Try it now, see how much cover you get and how much it can cost.
Select your educational needs
Children
Total EduCare™ benefits of
from only
pm*
Tap here for more information
I have life insurance, why would I need EduCare™?
In the event of unforeseen circumstances where your insurance coverage is tied up in debt and expenses, EduCare™ ensures that sufficient funds are available to safeguard your children. From educational and personal needs to additional care, you can leave a legacy for your children that won’t affect your Will.
Integrated benefits
Money placed into dedicated children’s trust
Benefits even if you don’t claim
+ it's cheaper than life cover for your kids' needs
Capital Legacy EduCare™
Protect your children, alongside these benefits
LifeStarter™ Benefit
Pays out as a cash lump sum on the 1st day of your Child's 18th birthday month. This amount is selected by you in the initial calculation.
Achiever Benefit™
A cash lump sum of R 150 000 will be paid out, per Child, if they qualify for National Colours.
Estate Duty Benefit
A cash lump sum up to R 1 000 000 will be paid out to the Estate of the Plan Holder to cover the Estate Duty.
Global Bursary Benefit™
Pays up to R 5 000 000 in university fees if your Child gets accepted into one of the top 50 global universities.
Medical Studies Benefit
If the Child chooses to study to be a Medical Doctor, up to R 100 000 will be paid to the institution per annum, for 3 years, after completing the 4th year of their Bachelor of Medicine degree.
Frequently asked questions
What are the benefits of education insurance?
There is money securely ring-fenced to take care of your children's educational needs if you pass away, become severely ill or impaired. EduCare™ is dedicated cover to ensure their continued education and care, should something happen to you.EduCare™ helps cover school fees, personal care needs, stationery, sporting equipment, food, transport and tertiary education. Over and above the core cover, EduCare™ also includes the following additional benefits:● The LifeStarter Benefit™ pays out as a cash lump sum when your child turns 18, on the 1st day of their birthday month. This amount is selected by you in the initial calculation.● The Global Bursary Benefit™ pays up to R5 million in university fees if one or all of your children get accepted into one of the 50 Oxford Global top universities.● The Achiever Benefit™ pays out a once-off cash lump sum of R150 000, per child, if they qualify for National Colours. ● Medical studies benefit – if any of your children covered choose to study to be a Medical Doctor, up to R100 000 will be paid to the institution per annum, for 3 years, after successfully completing their 4th year of their Bachelor of Medicine degree.● Estate duty benefit – any estate duty created by taking out EduCare™ will be covered up to R1 million.
What is an education protector?
An education protector is a safety net for your child’s education, in the case that you are no longer around to help cover the costs associated with their schooling, from pre-primary school to university. An education protector ensures that funds are securely ring-fenced to take care of your children’s education and care needs if you pass away, become severely ill or impaired. Given the nature of our integration of wills, trusts, insurance, technology & administration, parents can rest easy knowing that their children will enjoy the future that they deserve, if they are no longer around to provide for them. EduCare™ is Capital Legacy’s solution to the risk of passing away without leaving behind sufficient funding to cover your children’s education and care.
How much does EduCare™ cost?
With EduCare™, from as little as R115pm, you can get up to R3 million worth of cover to look after your child when you are no longer around or become impaired or severely ill. The monthly premiums are subject to certain factors, such as the age of the child, the amount of cover you require for your specific needs, as well as certain parameters which are addressed during the underwriting process. These funds will be dedicated to the education and care needs of your child or grandchildren, and leave you with peace of mind, knowing that you have invested in the education and future of your children.
What is EduCare™?
An estate planning product that provides dedicated cover for your children’s education and care should you become impaired, severely ill or pass away. EduCare™ is integrated with your will through a Children’s Trust™. The proceeds will be paid to the Children’s Trust™ for the trustees to allocate according to your children’s needs. This is a whole-of-life product that is fully underwritten upfront. You would pay a single premium with no need to specify each child’s details. This product covers any beneficiary of the Children’s Trust™, including grandchildren. The trustees are bound to follow the product rules to the benefit of the child.Capital Legacy’s unique approach to education protection cover through EduCare™ not only helps cover school fees but also personal care needs, stationery, sporting equipment, food, and transport.You can choose the amount needed to help cover the costs of your children’s education and care (our expert consultants will guide you). If something happens to you, we will pay your EduCare™ benefit into a dedicated Children’s Trust™ for your child. The trustees of the Children’s Trust™ will then allocate funds to help cover your children’s education and care needs based on your plan. (You can nominate a person of your choice to be co-trustee together with a Capital Legacy expert, for peace of mind). All the trust and trustee fees are indemnified, ensuring that the full values go towards your children’s education and care.
Why do you need life cover and EduCare™ (education cover)?
Life cover is life insurance or death cover which provides a cash lump sum in the event of your death, or if you become severely ill or impaired (you can include critical illness cover as part of your life insurance or take it out as a separate policy).A monthly premium to your insurer for life cover assists in safeguarding your loved ones from financial hardship if you die or suffer from one of a list of illnesses, as per your plan. The money can be put towards funeral costs, payment of a mortgage, debts, or your family’s living expenses.Though the aim may be to ensure that there is enough funding for your family when you are no longer around, we find that this amount often isn’t sufficient to cover children’s education. This is why we created the education protection plan, EduCare™, an estate planning product that provides dedicated cover for your children’s education and care needs should you become impaired, severely ill or pass away. EduCare™ helps cover school fees, personal care needs, school clothes, stationery, sporting equipment, food, transport and tertiary education.Both life cover and education protection cover are important and serve different functions. While life cover is essential to protect your family, it easily gets wrapped up in other things like bond payments, cars and other debts and expenses when you pass away.With EduCare™ there is money securely ring-fenced to take care of your children's educational and care needs if you pass away, become severely ill or impaired.
What are the 3 types of testamentary trusts?
In estate planning in South Africa, testamentary trusts play a crucial role in safeguarding the financial security and well-being of beneficiaries. These trusts are established according to a person’s last will and testament and come into effect upon their passing, providing a framework for the management and distribution of assets. Below is an overview of the different types of testamentary trusts.Children’s trustA children’s trust, as the name suggests, is specifically designed to provide for minor children or dependents who may not be capable of managing their inheritance themselves. It allows the person whose will it is (testator = male, testatrix = female) to appoint a trustee who will oversee the management and distribution of assets on behalf of the children until they reach a specified age or milestone outlined in the will.The trustee is responsible for managing the assets in the best interests of the beneficiaries. The assets held in trust can be used to cover the children’s education expenses, healthcare needs, maintenance costs, and any other essential requirements. By establishing a children’s trust, the person whose will it is ensures that the children’s financial future is secure.Widow’s trustA widow’s trust is designed to provide financial support and security to the surviving spouse after the testator’s death. By creating a widow’s trust, the testator can ensure that their spouse is adequately taken care of.The widow’s trust is typically structured to provide the surviving spouse with regular income or distributions from the trust assets, while preserving the principal amount for the ultimate beneficiaries, such as children. The testator can specify the terms and conditions for the distribution of assets within the trust, ensuring that the surviving spouse’s needs are met without compromising the long-term financial stability of the other beneficiaries.Provider’s trustA provider’s trust focusses on ensuring the financial well-being of a dependent individual, such as a family member with a disability or a loved one with special needs, upon the testator’s passing. This trust is specifically designed to provide ongoing financial support and care for such beneficiaries, taking into account their unique requirements.By creating a provider’s trust, the testator ensures that their loved one will receive the necessary financial support, which will be managed by a trustee who understands the beneficiary’s specific needs.Choosing the right testamentary trust offers invaluable benefits and peace of mind in estate planning, particularly when it comes to providing for vulnerable beneficiaries. With these unique testamentary trust options for estate planning available – children’s, widow’s, provider’s trusts – the individual needs of your loved ones can be taken care of when you are no longer here.There are many types of trusts for asset management after death. However, when it comes to the individual requirements of minors, surviving spouses and dependents with special needs, you have access to unique testamentary trust options for estate planning.Not sure where to start? Contact us to get your will drafted for free and to get all the information about testamentary trust types from our expert consultants.
Not to brag, but we're kinda good at what we do.
Don't take our word for it though...