Scorpion Legacy Accumulator
The Scorpion Legacy Accumulator is a loyalty-based lump sum benefit, available exclusively to Platinum members. This benefit is designed to provide financial assistance to a nominated beneficiary in the unfortunate event of a paid-up Platinum main member's passing — at no additional cost.
Key Features and Benefits
- Immediate access to cash for the nominated beneficiary.
- The payout can assist with essential expenses such as:
- Rent or mortgage payments
- Utility bills and groceries
- Outstanding debts
- Childcare or school fees
- Mental health support (e.g., counselling)
How does it work?
- Join or upgrade to the Scorpion Platinum Policy (this benefit is not available on any other policy).
- A 3-month waiting period applies before the benefit becomes active.
- The main member must remain a paid-up Platinum member.
- In the event of the main member’s passing, a lump sum cash payout will be made only to the nominated beneficiary.
- The payout is calculated based on the most recent 36 months of continuous premiums, effective 1 July 2024 — meaning the longer the membership, the higher the payout.
- Cash is paid within 48 hours of receiving the necessary claim documents.
Important Clarifications – Please Read Carefully
- Receiving an SMS about your Scorpion Legacy Accumulator balance DOES NOT mean you can claim the benefit right away.
- The SMS is for information purposes only — it tells you how much has accumulated so far.
- You can only claim the benefit if the Platinum main member passes away, and only the nominated beneficiary can receive the payout.
- This is not money you can claim while you are still alive.
Membership terms and conditions apply. Please refer to the Scorpion Legal Policy Membership Agreement.
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Example of the how the Scorpion Platinum Membership Legacy Accumulator works
Scenario 1 - Main Members dies on 31 December 2025
Scorpion will pay R3 798** in cash (R2 472 + R1 326).
Scenario 2 - Main Member dies on 1 July 2026
Scorpion will pay R5 124** in cash (R2 472 + R2 652).
Scenario 3 - Main Member dies on 31 December 2026
Scorpion will pay R6 630** in cash (R2 472 + R2 652 + R1 506).
Scenario 4 - Main member joins on 1st July 2024 and pays premiums until June 2025. From July 2025 to November 2025 member does not make payment, and the policy lapses. Main member continued to make payments from December 2025 until his death on the 30th June 2026
Scorpion will pay R1 547** in cash (R221 x 7 months). When the policy lapsed the member lost all accumulated benefits and the accumulation started in December 2025 when member started paying premiums again.
How accumulation works
1 July 2024 - 30 June 2025 R206 per month = R2 472 accumulated benefit
1 July 2025 - 30 June 2026 R221** per month = R2 652 accumulated benefit
1 July 2026 - 30 June 2027 R251** per month = R3 012 accumulated benefit
1 July 2027 - 30 June 2028 R277** per month = R3 324 accumulated benefit
**Assumes an annual premium rerate of 10,7%, 10,1% and 10,4% respectively.