There are no second chances when it comes to having the right life cover
It need not be daunting… You can get sufficient quality life cover with us. It's transparent and easily-tailored to suit your needs - and pocket!
Life cover is important,
and here's why:
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Meet Mandy.
Mandy's mother always made sure her children were provided for, and knew the risks early enough to take out a sturdy life policy.
Sadly...
Mandy lost her mother at 16 - fortunately with the proceeds from her mom's life insurance, she and her sisters were able to settle debts and continue to live their life.
And now...
Mandy is always told she is just like her mom, and just like her mom she took out a MyCover™ life policy with us for less than R 400 per month to make sure her family is protected like she was.
Why do your life cover with Capital Legacy?
Because our life insurance
puts your beneficiaries first
The Cover
It's smart to opt for a comprehensive cover that includes illness and impairment, creates a trust for your children, and lasts your whole life without any executor or trustee fees.
The Premiums
Our insurance plans offer fair pricing with sustainable premium increases below the industry average and flexible options for premium payment.
The Process
With the convenience of choosing to work with us directly or through your advisor, no need for medical testing in most cases, and the added benefit of getting your will done quickly and easily, our services provide a hassle-free solution.
Over 9 000 financial advisors
already choose us to help their clients
Did you know…
Capital Legacy was the first to bring a life cover that automatically creates a trust for your children with no costs attached for it.
Get an idea of what your life insurance costs
Our quality life insurance ensures that neither you or your beneficiaries are left
short-changed.
Use the below to slide left or right and see how much our cover may
cost you.
Your life insurance need
Optional disability cover
Our solution for life insurance is of MyCover™ and disability cover of of MyAbility™ from only
per month
*
We apologize for any inconvenience caused, but our product is exclusively available to individuals with a monthly income of R17 500 and above.
*Based on a 41-year-old
male non-smoker.
All quotes are subject to medicals.
We apologize for any inconvenience caused, but our product is exclusively available to individuals with a monthly income of R17 500 and above.
Total MyCover™ of
and MyAbility™ of
from only
pm*
Tap here for more information
While we can’t promise that you’ll live forever...
Our flexible life cover keeps you ahead of the game - and with more benefits: comparably better rates, a plan that can seamlessly integrate with your will and estate, a hassle-free solution that ensures that your life cover is used the way you intended, and much more.
Up to R 15 000 000 life cover
Easy application process
Impairment and critical illness cover
You can lean on one of our friendly life cover specialists to get the right deal, quickly & easily
MyCover™ options
Choose an option that suits you and your pocket
With Protected Cover
A non-accelerated option which means, if you had to claim on your disability cover, the benefit for your life cover will not be affected.
With More Benefit
Increase your life cover amount at cost price.
With Less Premium
Get a significant monthly premium discount
With Cash Back
Receive up to 12 months’ premiums back in cash, every 5 years.
Frequently asked questions
Does my MyCover™ cover increase annually?
Yes. MyCover™ cover amount, excluding the Cash Back BeneFactor™ portion, increases by the higher of 4% or CPI.
What happens to my home if I die without a will?
Regardless of whether you have a will or not, your estate will still need to be administered when you pass away, and this will be overseen by an executor. However, when you pass away without a valid will (intestate), your assets will be distributed to your heirs based on the Intestate Succession Act no 81 of 1987. Therefore, if your property is portioned into a few inheritances then the executor of your estate has the authority to sell it and distribute the proceeds to the various heirs or the executor may sell it in order to cover outstanding debts and taxes due, should there be little or no liquidity in your estate. Your descendants, however, could decide how to distribute their joint inheritance. If they decide to co-own the property, then it will be transferred into all their names.
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.
What is MyAbility Cover™?
A combination of impairment and critical illness means you are covered for either event, and if the benefit goes unused it will pay out with your life cover and not fall away.
What happens if an estate is not settled?
If an estate has a shortfall, the executor will either sell some assets to meet the financial requirements, or the heirs could pay the shortfall to preserve the assets, so that assets such as property can be transferred to them. However, an estate that does not have sufficient assets to cover outstanding debt, will be declared insolvent and then the beneficiaries will not inherit.
How much tax do you pay on a deceased estate?
When someone passes away there are four types of tax that come into play when dealing with their deceased estate: [1] Income Tax for the deceased individual (personal tax); [2] Capital Gains Tax; [3] Estate Duty; [4] Donations Tax (if applicable to the specific estate).Income Tax (personal tax)The executor of the estate has a duty to make sure that all tax returns of the deceased are up to date with the South African Revenue Services (SARS).If any tax returns are outstanding the executor must request the relevant tax certificates/IRP5s from the respective institutions and send it onto the tax practitioner to submit to SARS.The estate will be charged income tax on any and all income, including dividends received, rental income or interest accrued, during the estate administration process.There are two types of assessments that must be carried out: [1] pre-date of death assessment (all income and deductions applicable to the deceased up to date of death); [2] post-date of death assessment (all income and deductions in the estate after date of death).NB: If the deceased was a pensioner at the time of death or even a few years prior, tax returns must still be completed and submitted to SARS so that SARS can advise the executor that taxes are in order and issue a Tax Compliance Certificate (TCC) for the estate.Capital Gains TaxWhen someone passes away, the deceased is deemed to have disposed of their assets. This is because there has been a 'change of ownership' as the assets will now be inherited by the heir/s in the estate.This deemed 'change of ownership' attracts Capital Gains Tax for the estate, payable to SARS.If the executor of the estate sells property or receives property into the estate, these assets will attract Capital Gains Tax.Certain assets in a deceased estate are excluded from Capital Gains Tax. These include assets for personal use (with certain exceptions); assets inherited by the surviving spouse; proceeds from life cover; interests in pension, provident or retirement annuity funds.At death, there is a once-off exclusion of R300 000, so R300 000 of the gain or loss will not attract any tax on capital gains made.Any amount over and above R300 000 will have an inclusion rate of 40% and this amount will attract the applicable tax depending on the deceased’s marginal rate.Estate DutyEstate duty is determined based on the gross value of the Estate.Each individual is granted a rebate of R3.5 million and Estate Duty is therefore only taxed on the value of the estate over R3.5 million.Estate duty is levied at 20% on the first R30 million and then 25% on the value above R30 million.In terms of Section 4(q) of the Estate Duty Act – the Estate Duty liability in respect of the assets inherited by the surviving spouse is postponed. This means that it is deemed that the deceased individual disposed of the assets on the day of his/her death but the liability for the tax is postponed until the death of the surviving spouse.Donations TaxDonations tax does not form part of the calculation of an individual’s income tax liability and the donations tax calculation is done separately for each donation.Donations tax is not levied on an individual’s income, but on the capital transferred, usually in the form of assets.There are two parties involved in a donation: [1] the donor (person who makes the donation); [2] the donee (person who receives the donation).The donor is liable for payment of donation tax. If the donor fails to pay this tax within the prescribed period (normally by the end of the month following the month in which the donation took effect, or for a period as the Commissioner may allow), the donor and the donee are jointly and severally liable for the donations tax.Donations (taking into account certain exemptions, see below) are subject to donations tax of 20% on the value of the donation, applicable to donations made on or after 1 October 2001.These donations are exempt from donations tax:Donations between spouses.Donations that are made and materialise only when the donor dies. For example, if a person has a life-threatening job.Donations which the donee will only receive the benefit of upon the death of the donor.Donations that are cancelled within six months of taking effect.Traditional councils, traditional communities and certain tribes.Property located outside the Republic of South Africa (RSA). This is only applicable if the donor acquired the property before becoming a resident of the RSA; through inheritance from someone who at the date of their death was not resident in the RSA; or by using funds from the sale of the property and replacing it with other properties.Exempt organisations include government, provincial administrations, municipalities, etc.
Not to brag, but we're kinda good at what we do.
Don't take our word for it though...