Johannesburg: MiWayLife is reimagining life insurance, by launching direct to the market, adopting the same underlying philosophy that has made direct insurer MiWay one of the most recognisable brands in the industry today.
During economic times where South Africans are seeking value from their hard earned money, MiWayLife is delivering cost-effective life cover that saves consumers money by leveraging technology to minimise administrative requirements and costs.
Craig Baker, MiWayLife CEO, notes that life insurance provides families with financial protection in the event of the death of the policyholder or persons named on the policy. “While nobody likes to contemplate death, it is necessary to acknowledge that we live in an unpredictable world and fatal accidents do happen. With MiWayLife, we’re setting out to make life insurance easier to buy, more accessible and more affordable for South Africans from all walks of life,” he says.
MiWayLife recognises the need for policies which fit in with the bold and eclectic South African families we all know and love. By including funeral cover for the policyholder and their entire extended family as standard, MiWayLife eliminates the need for separate funeral and life policies. Because of this, policyholders are able to cover spouses, siblings, in-laws, nephews, nieces and so on. A portion of the benefit is paid out immediately should the policyholder or a beneficiary pass away, so that a dignified and respectful funeral can be held, no matter the circumstances. At a time of great distress, MiWayLife wants to make things a little bit easier, so that clients can focus on what’s important.
Every policy also includes provision for a pay-out in the event of the diagnosis of a terminal disease with a prognosis of death within 12 months. This way, terminally ill patients can spend their life insurance pay-out exactly the way they want, while they’re still well enough to do so.
The policies are provided through MiWayLife’s telephonic and online channels, making it quick and convenient for customers to add a life cover premium to their portfolio – and that portfolio can easily be managed through the MiWay Mobile App. To qualify for standard life cover, customers are asked questions pertaining to their lifestyle, age, gender, smoker status, alcohol use, education, BMI (height and weight) and HIV status. Existing medical conditions must be disclosed, though there is no general exclusion for any persons.
For more information visit: www.miway.co.za/life-insurance