You’ve created a Will so you’re all set, right? Not so fast. Here’s why life insurance matters too.
Drafting a Will is one of those life-admin tasks that feels very satisfying to tick off the list. You’ve decided who gets what, nominated an executor and made your wishes clear. Job done, right? Not quite.
One of the biggest mistakes you can make after drafting a Will is assuming that the document itself is enough to provide financially for the people you leave behind.
First Things First: Do You Have A Will?
If you’ve been putting it off, National Wills Week takes place from 14 to 18 September 2026, making now a great time to get it sorted. During this annual initiative by the Law Society of South Africa, participating attorneys offer members of the public a basic Will free of charge.
It’s an opportunity to put your wishes in writing, get professional assistance and tick one very important task off your life-admin list.
What Does A Will Actually Do?
A Will sets out what should happen to your estate after you die. Your estate is essentially everything you own, such as property, money and other assets, minus any debts you leave behind.
Your Will can specify who should inherit your assets, nominate an executor to handle your estate and record other important wishes.
Without a valid Will, your estate will generally be distributed according to South Africa’s laws of intestate succession, which may not reflect what you would have wanted.
What Doesn’t A Will Do?
A Will can say who should receive your assets. It can’t guarantee there will be enough money available to meet all the financial needs that arise when you die.
Your estate may have debts and expenses that need to be settled. Your loved ones may also have immediate and ongoing financial needs, from everyday household expenses and bond repayments to school fees and other commitments.
In other words, your Will provides instructions. It doesn’t automatically provide the funding to carry them out.
How Life Insurance Fits In With Your Will
When you die, access to bank accounts held in your name is usually restricted while your estate is being wrapped up. So, even if you’ve left your family money or other assets in your Will, they may not be able to access them straight away. Winding up an estate can take months and, in more complicated cases, even longer. In the meantime, life goes on and there are still bills to pay.
That’s where life insurance can play an important role. With MiWayLife life cover, a valid death claim pays your chosen cover amount to your nominated beneficiaries within two to three weeks once all the required documents have been submitted.
This can provide financial support while your estate is still being finalised, helping your loved ones manage immediate and ongoing expenses such as groceries, household bills, bond repayments and school fees.
The Bottom Line
While your Will helps determine what happens to the estate you leave behind, life cover can help provide financial support when your loved ones may need it most. Together, they’re two important parts of planning for the people you care about.
You can also create your Will and store it safely with MiWayLife, helping you get two important pieces of future planning sorted.
Why not get a quick obligation-free MiWayLife quote 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.
