Products > Life Insurance > Myriad > Longevity benefits
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What if you do not die?

Let’s face it. We don't think that we are going to die early. We think about living.

Life insurance is not only about the risk of dying, it is also about the risk of outliving your income: The risk of becoming a burden on your loved ones when you run out of money.

At Myriad, we don't only cover you if you die, but also if you stay alive.

What is longevity cover?

Longevity cover pays regular lump sum amounts as you reach various longevity milestones, including the following:

  • Staying alive five years after becoming critically ill or disabled and every five years after that, over the term of the benefits.
  • Reaching retirement, whether you have claimed or not (when combined with a qualifying retirement annuity).
  • Reaching age 80, if you stayed healthy and never claimed.

Why you need it

Phenomenal advances in medical technology are helping us to live much longer than before. Longevity cover protects you against the following risks:

  • A long but expensive life with a critical illness.
  • A long life without an income if you become disabled.
  • Outliving your retirement savings.


Learn more about the Longevity Protector or contact your Financial Adviser.In addition contact us on 0861 300 789


Find out more
Your options Open
  • Longevity Protector™ - Income Protector and Longevity Protector™ - Group Income Top-up - pays 50% of the Income Protector payment every five years over the term of the benefit (typically to age 65 or 70). Also pays 36 times the final Income Protector benefit amount at expiry when your reach age 80 without claiming, through the unique Longevity Enhancer.
  • Longevity Protector™ - Disability - pays 10% of the lump sum disability benefit it is attached to every five years over the term of the benefit (typically to age 65 or 70). Also pays 20% the lump sum benefit amount at expiry when your reach age 80 without claiming, through the unique Longevity Enhancer.
  • Longevity Protector™ - Critical Illness - pays 10% of the critical illness benefit it is attached to every five years for your whole life. Also pays 20% of the lump sum benefit amount at expiry when your reach age 80 without claiming, through the unique Longevity Enhancer.

All three benefits provide a significant boost to your Momentum retirement savings. A typical client stands to get between 30% and 45% of his or her Myriad premiums back at retirement through Myriad's unique Retirement Booster.

What you are covered for Open

The Longevity Protectors attached to the Income Protector, Group Income Top-up and lump sum disability benefit covers you if you become totally and permanently disabled. The Longevity Protector attached to the critical illness benefit covers you for moderate to severe critical illnesses. All three benefits also pay out if you have reached age 80 without claiming.

How much cover? Open

With Myriad’s longevity protection, you don’t select the amount of cover, as it is determined by the benefits it is attached to, as detailed in ‘Your options’ above. What is great about our longevity protection is that it takes away much of the uncertainty of whether your cover will be enough:

  • Your critical illness cover will never run out.
  • You get 50% extra disability cover on average.
  • Your retirement savings gets a significant boost through the Retirement Booster and Longevity Enhancer.