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Financially Planning For Your Baby
Financially Planning For Your Baby
11 Nov 2020

With a baby on the way, planning your finances becomes even more crucial. Making sure that you have a safety net that protects them while they are still in the womb and after they are birthed into your world matters, but how can you do this?

Protecting medically

Having a healthy pregnancy right up to the moment your child enters the world is a beautiful and stressful moment for some parents. Juggling preparations in your life along with keeping up with medical check-ups start becoming the centre of your world. Therefore, it matters that you have the right medical aid in place.

 

Going for regular doctor appointments means you will need a cover that will consider everything to avoid having to pay for out of pocket expenses. Make sure to check what you are covered for and what you will not be covered for on your medical aid to avoid being disappointed.

 

Protecting them while they are still in the womb

Many things can stress expectant parents, but knowing how to prepare can make the process less overwhelming. Looking for policies that are specifically designed to take care of you and your child can give you one less thing to worry about. 

 

MiWayLife can help relieve some of the more stressful moments of your journey with the MiLittleLife birth benefit, which provides between R20 000 and R180 000 cover for your newborn against some of the most common and severe childbirth complications. The birth benefit automatically converts into a child benefit when the child is born.

 

Protecting their future

Consider seeking financial advice when it comes to financially planning your child's future. An advisor can help you on your journey for planning for big picture things such as how to plan for a private or public-school education, juggling daily living expenses and what financial products that you can invest in.

 

It can also be beneficial when it comes to choosing a life insurance cover that will take care of all of these things when you die. The last thing any parent wants is to leave their child vulnerable, which is why it is important to get started as soon as possible to create a financial safety net for them.

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