Life is full of uncertainties but if you’ve got life insurance, you’ll also have maximum peace of mind.
No matter how well we plan, unexpected events can change our lives in an instant. That’s why saving for a rainy day, a little planning and creating a financial safety net is a must. One of the most effective ways to do the latter is to buy life insurance. It’s a great way to ensure your loved ones are taken care of, no matter what the future holds.
Why Plan for the Unexpected?
Many people believe that life insurance is something to consider later in life. However, the reality is that uncertainties don’t wait for the right time. Accidents, illnesses, and unforeseen events can happen to anyone, at any stage of life. The key to financial stability is to plan ahead and be prepared for whatever comes your way.
Let’s look at some real-life examples of how life insurance can be a financial lifesaver.
A Young Professional Planning Ahead
If you’re young, healthy and don’t have any dependents, you might think you don’t need life insurance, but think again. If you have any debt, be it a student loan or car repayments, these won’t vanish if you unexpectedly pass away. In many cases, they can be passed on to your loved ones and will be the last thing they’ll want to deal with during an already difficult time.
If you have a MiWayLife life insurance policy, however, you can use this to secure any debt, ensuring that it’s paid off after your passing. Also, your family won’t be burdened with the cost of your funeral. All MiWayLife insurance policies include a funeral benefit that pays out 10% of the total cover amount of your policy or up to R50 000 – whichever is the higher amount.
The Sudden Loss of a Breadwinner
If you’re the sole breadwinner of your family, or your income pays for the majority of the bills, imagine what would happen if you had to pass away? Your spouse would have to become your family’s sole provider. If you had young children, who would take care of them while they were working to pay the bills?
Fortunately, if you had a MiWayLife life insurance policy, depending on your cover amount, the payout could help cover daily living expenses and childcare, pay off your home loan, and ensure any children continue their education without financial strain.
This is why it’s important to always consider a worst-case scenario – so you can correctly assess exactly how much your family would need if they had to face a future without you. Not sure of the amount? Use our handy life insurance calculator.
Your Partner in Financial Security
MiWayLife understands that life is unpredictable, which is why we’re committed to providing flexible life insurance solutions that meet your needs and budget. Still, the best time to secure life insurance is now. If you buy life insurance while you’re young and healthy, you’ll be more likely to enjoy a lower premium. If you leave it too late, you might develop a chronic condition later on in life that could contribute to having to pay a higher premium.
In short, life’s uncertainties are inevitable, but with the right financial planning, you can ensure that you and your family are always prepared. So, why not get a quick quote from MiWayLife?
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.
