Life Insurance
Youth Day: Secure Your Financial Future With Life Insurance
Youth Day: Secure Your Financial Future With Life Insurance
10 Jun 2024

Young people are the future of South Africa, now secure your financial future and take on the world!

Every year on June 16th, South Africa takes a moment to remember the Soweto Uprising of 1976, where brave young people fought for a brighter future. But Youth Day isn't just about the past – it's also all about our future.

If you’re a young person living in South Africa, you’re the driving force that will help shape our beautiful country’s tomorrow. But how prepared are you to turn those dreams into a reality?

Why life insurance is important for young people


Life is full of unexpected events and while we can’t predict them, we can prepare for them. Take insurance for example. When you buy your first car, you don’t dwell on the thought that you might have an accident. But you do buy car insurance to ensure your investment is protected.

Life insurance is much the same and when you buy a life insurance policy early on, you're taking control of your future. It’s a great way to create a financial safety net for the people you love and ensure they’re not burdened with your unexpected end-of-life expenses or any of your debt. (It’s true, your debt doesn’t die with you!) In short, it’s a good way to get peace of mind so you can chase those dreams with confidence.

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Here's why getting life insurance early is a win

Life insurance works like this – you’ll pay a monthly premium for a set amount of coverage and, in the event of your passing, this cover amount is paid out to a beneficiary of your choosing. When you're young and healthy, life insurance companies will see you as having a lower risk of claiming, so they’ll offer you a much lower premium. If you applied for life insurance later on in life, your premium might be a lot higher.

Most life insurance companies, including MiWayLife, are flexible, so they can grow with you. If you wanted to change your beneficiaries or add to them at any point, you could. This means that, if you wanted to include your future spouse or children as lives insured on your policy later on, you could.

But wait, you get more benefits with MiWayLife

Not all life insurance companies are equal, so it pays to “shop around” to see who’ll offer you the right amount of coverage for the lowest premium. As a young and healthy person, you could get R500 000 in life cover for as little as R164* per month.

You’ll also want a life insurance company that offers free additional benefits. As an example, all MiWayLife insurance policies include a funeral benefit that pays out 10% of your total available life cover (up to a maximum of R50 000) within 48 hours of a successful claim. This way, your loved ones won’t have to bear an unexpected financial burden during an already incredibly difficult time. Your policy will also include a Terminal Illness Benefit. If you’re diagnosed with a terminal illness and likely to pass away within a year, you have the option to immediately claim 50% or 100% of your life cover amount.

Why not get a quick 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.

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