MiWayLife makes life insurance and funeral cover easy and affordable so you can plan your estate with greater peace of mind.
Life insurance and funeral cover might not be the first things that come to mind when you think about estate planning, but for South Africans, they're incredibly important. It's about more than just money, it's about giving your family peace of mind when they need it most.
Why savvy estate planning will include life insurance
Nobody likes to spend too much time thinking about what would happen to their family if they had to pass away. However, none of us will live forever so planning for the inevitable is a must and this starts with creating a Will. If you pass away without one, your estate will be divided in accordance with South Africa’s Interstate Succession Act, and it might not be in line with your wishes.
Something else many South Africans don’t realise is that once they die, all their bank accounts will be frozen. This means that, on top of all the emotional stress, your family won’t have any access to your money until your estate is wound up. With or without a Will, this process can make months and, in some cases, even years.
Fortunately, this is where having life insurance can create a financial safety net for your family. At MiWayLife, we make life insurance simple. For an affordable monthly premium, you’ll be offered a set amount of coverage that’s paid out in a lump sum to your beneficiaries in the event of your passing. We pride ourselves on paying out fast and the cover under this benefit will grow by 5% each year. Also, every policy includes a terminal illness benefit.
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Funeral cover is another estate planning essential
Saying goodbye is never easy, but it shouldn't be made harder by financial constraints. Funeral cover allows your family to give you a dignified farewell without worrying about the costs. It's a small but meaningful way to show you care, even after you're gone. If you have a life insurance policy with MiWayLife, it will include a funeral cover benefit. Just keep in mind that this will be 10% of your cover amount and capped at R50 000.
If you’d like to “boost” this amount, you’ll want to know about MiFuneral, our new all-digital funeral policy designed to be affordable while offering value-added benefits you can tailor to suit your needs. As you select your cover amount, you can enjoy an affordable premium and customise your policy further with additional optional benefits. These include extra cover to help you meet other end-of-life expenses and you get to decide how you’d like it to be paid – as a lump sum or as a short-term monthly income.
The bottom line
At MiWayLife, we understand that planning for the future can feel overwhelming. That's why we offer life insurance with a built-in funeral benefit. However, if you want to increase your funeral cover or only want funeral coverage, MiFuneral makes it affordable. Better yet, you can buy it online within minutes. So, why not get a quick quote today and let us surprise you with our low premiums.
Did You Know:
You can now take out affordable funeral cover with us online in a few simple steps. No calls and no agents! Discover the digital way to enjoy full peace of mind by buying a MiFuneral Policy cover online.
