Life can change in an instant. Here’s how to make the most of your life insurance when it matters most. A terminal illness diagnosis is one of the hardest moments anyone can face, not only emotionally, but also financially.
Medical aid may not cover everything, and day-to-day expenses don’t stop just because you are unwell. This is where MiWayLife’s terminal illness benefit, included in all our policies, becomes a lifeline, giving you the ability to access your cover when you need it most.
What Is MiWayLife’s Terminal Illness Benefit?
When you take out a 4-in-1 life insurance policy with MiWayLife, you don’t just get comprehensive life cover. You also get funeral cover for yourself, funeral cover for your family members, and an accelerated terminal illness benefit.
Imagine if you were diagnosed with terminal cancer. Beyond the emotional shock, you’d also face financial strain, from treatment shortfalls to everyday living costs that don’t stop. With MiWayLife’s terminal illness benefit, if a medical expert confirms you’re likely to pass away within 12 months, you can claim 50% or 100% of your life cover amount while you’re still alive.
Your Life, Your Choice
How you choose to claim your terminal illness benefit is deeply personal, and having both options available gives you the flexibility to decide what’s right for your situation.
If you claim 50%, you’ll receive half of your cover amount upfront. The balance remains active, so your loved ones will still receive a payout when you pass away. This option works well if you want support for immediate medical and living expenses while keeping something aside for your family’s future. Many people choose this route so that everyday needs, like groceries, school fees, or bond repayments, are taken care of while they focus on their wellbeing.
If you claim 100%, your full life cover will be paid out immediately, but the policy will end. This means no further cover will be in place for you or your insured family members. It’s a practical option if you want to use the payout to settle debts, cover medical treatments that aren’t fully funded by medical aid, or secure your family’s future right away. Others use part of the payout to create lasting memories, be it a big family holiday or a special time together that will never be forgotten.
The Bottom Line
While a terminal illness diagnosis is never easy, having the right cover means you won’t have to face financial stress on top of everything else. Instead, you can focus on what’s truly important: precious time with the people you love and the reassurance that their future is secure. So, why not get a quick, obligation-free quote from MiWayLife 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.
