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Can You Tick All The Boxes On This Couples Financial Checklist?
Can You Tick All The Boxes On This Couples Financial Checklist?
26 Feb 2024

You’re happily coupled up, but are your finances in sync? Here’s how to secure your financial future.

Whether you're newlyweds or have been a duo for decades, having an honest conversation about finances is a must. To set you on the right track, here are a few boxes you’ll want tick in terms of important conversations about planning a successful financial future.

Hot topics you’ll want to tick off  

When it comes to building a financial life together, must-have chats include:

Something else to consider is what would happen if one of you had to pass away and this is where life insurance and creating a Willl can give you peace of mind.

Life insurance for couples

If you and your partner don’t already have life insurance, you could each get your own life insurance policies and list each other as beneficiaries. This way, if one of you had to pass away or fall terminally ill, the other would have a financial safety net. Alternatively, you can add your partner as a life insured to your existing policy.

At MiWayLife, it works like this – for one low monthly premium, you’ll receive a 4-in-1 policy that includes comprehensive life insurance that, in the event of your passing, pays out a lump sum of your choosing to your nominated beneficiaries including your partner or spouse – or anyone else you’d like to financially protect. (Yep, you can have more than one beneficiary – a great thing if you plan on having kids!) 

Your policy will also include an accelerated funeral benefit, terminal illness benefit and funeral cover for your wider family members. Just remember that for every additional life you insure on your policy, your premium will increase, but this isn’t as expensive as you’d think. if you have life cover with MiWayLife, you could get R500 000 life cover from as little as R149 a month!


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MiWayLife can also help you with your Will

It’s always exciting to plan for a wedding but most people don’t feel that way about creating a Will. Thing is, if you’re coupled up and pass away without one, your partner might not receive what you intend them to. In South Africa, the Intestate Succession Act dictates that if you die without a will, your spouse will only inherit a child's share or R250 000 from your estate, whichever is greater. If you’re in a committed relationship and have yet to tie the knot, they may receive nothing at all.

To avoid any potential legal battles or unintended consequences, it's crucial to update your Will after getting married. This way, you can clearly specify your wishes for your estate and ensure your spouse receives what you want them to. Fortunately, MiWill can help you change that today.

Did You Know:

You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.

Need more information on MiWayLife? Read about our life insurance product, or get a life insurance quote in 30 seconds. Alternatively, call us on 0860 64 54 33 .
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Terms and conditions apply. Eligibility, cover and benefits are determined on individual risk profile. MiWayLife is an authorised FSP (No. 45741) and its product offering is underwritten by Sanlam Life Insurance Limited, a registered long-term insurer. MiWayLife is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06