Life Insurance
How Life Insurance And A Will Can Shape Your Family’s Legacy
How Life Insurance And A Will Can Shape Your Family’s Legacy
26 Feb 2024

They might be financial tools, but they’ll ensure the love you have for your family lives on. We’re creating memories every day and little moments that didn’t seem important might be viewed as golden memories later.

In short, what you do today, becomes your legacy. Still, we can’t live forever and when we do pass away, we don’t just want to leave our loved ones with only memories. It’s also important that we create a financial legacy that can protect them in the future. This is why life insurance is important. It can create a financial safety net that can protect the people we care about, even if you’re not there to provide for them yourself.

Keep Dreams Alive With Life Insurance

If you have a life insurance policy with MiWayLife, you’ll pay one monthly premium in exchange for a coverage amount of your choosing. In the event of your passing, your beneficiaries receive this amount as a lump sum payout. This way, even if the worst had to happen, your family could still do the little things, like pay household bills, as well as big things, like cover the cost of attending university or pay off the bond on your home.

As MiWayLife offers a 4-in-1 policy, all for one low monthly premium, it includes a funeral benefit that pays out promptly. This way, your family won’t be burdened with the cost of giving you a dignified farewell during an already incredibly difficult time. Our policy also includes a terminal illness benefit that gives you the option of receiving 50% or 100% of your cover amount while you’re still alive. This means you’d get to take care of financial matters yourself as well as make more of these golden memories when time suddenly becomes even more precious.

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Why Having A Will Matters


Another way to protect your family’s legacy is by having a Will. Many South Africans don’t have one, but if they fully understood the implications this would probably change. If you pass away without a Will, the court has to appoint an executor to wrap up your estate. This is a long and arduous process that can take up to several years and during this time your bank accounts and assets will be frozen. During this time, your family won’t have any access to your money, save for that life insurance payout – phew! Another concern? Without a Will, if you had to pass away while in debt, the court appointed executor could easily decide to sell any possessions, including precious heirlooms you’d have rather passed on to your spouse or children.

Fortunately, it’s easy to prevent this worrying outcome – simply create a Will. This way, you can use it to appoint your own executor, someone that you trust, and clearly state your wishes, be it that your daughter receives the family ring or that your son gets the beloved vintage car you restored together. Learn more about why you’d want to protect your family’s legacy with a Will over here.

At the end of the day, nobody likes to think about the one where they won’t be around. However, with a little financial planning, protecting your family’s legacy is easier than you think.

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