Knowledgebase
Digimage > DigiHelp > Knowledgebase

Search help:


How Legacy Lab Works

Solution

1. Companies and individuals register their profiles on Legacy Lab.

2. Legacy Lab will consolidate the total amount of financial assets a group, company or an individual has from all the different institutions in which they invest.

3. Before signing up a client for a new policy, insurance providers will login to Legacy Lab to check if the client is not insured beyond the allowable limit, as per regulatory requirement.

4. It will provide a single view of a client exposing all the different policies for a similar product and the total benefit on that product.

5. Individuals will keep their wealth wallet on Legacy Lab while they are still alive, and this record will only be inquired when the data subject is deceased for the purposes of estate administration or even the funeral proceedings if the deceased had a funeral cover.

6. Each time a company makes an enquiry about a client, they pay a fixed amount to Digimage.

 

NB: Your beneficiaries do not have access or knowledge of your assets while you are still alive. All assets are exposed after your demise to the relevant beneficiaries.

 
Was this article helpful? yes / no
Related articles Legacy Lab Explained
How iLoan Works
Article details
Article ID: 35
Category: Legacy Lab
Date added: 2023-10-10 12:17:49
Views: 37
Rating (Votes): Article not rated yet (0)

 
« Go back

 
Powered by Help Desk Software HESK, brought to you by SysAid