This post was published on Jul 9, 2025 | Updated on Oct 29, 2025
Life insurance is not just a monthly debit order, it’s a long-term commitment to protecting your loved ones and your legacy. Whether you're just starting out in your career or have a growing family to take care of, the value of life insurance lies in more than just cost. It’s about peace of mind, timing, and long-term financial planning.
Let’s unpack why life insurance is so important and why it's not something to delay, cancel, or treat like a short-term purchase.
1. The Earlier, the Better
One of the most valuable decisions you can make is to take out life cover when you’re young and healthy. Why? Because your premiums are likely to be more affordable for the long term. As we age, health risks increase and so does the cost of cover. By securing a policy early, you're safeguarding your future at today’s lower rates.
The following example is for illustrative purposes only. Actual premiums may vary depending on individual underwriting, age, occupation, and lifestyle factors.
R1 000 000 life cover amount | |
| Premium R233.16 | Age 22 |
| Premium R266.61 | Age 34 |
| Premium R566.12 | Age 50 |
*Premiums based on profile of male, non-smoker, with a diploma, married, with medical aid
Sharisa, a life insurance specialist at iWYZE, highlights why starting early and staying transparent can make all the difference:
“As someone who works closely with customers navigating their insurance journeys, I’ve seen firsthand how life insurance can be one of the most powerful financial decisions a person can make—not just for themselves, but for the people they love most. Think about the people who rely on you—your partner, your children, your parents. Life insurance is a way of saying, “I’ve got you,” even when you’re no longer around to say it in person. It’s not just a financial product. It’s a gesture of love, responsibility, and foresight.
That kind of peace of mind is priceless.
What stands out to me is how often people underestimate the long-term value of starting early. The difference in premiums between someone who takes out cover at 22 versus 50 is striking—and it’s not just about cost. It’s about access, flexibility, and security. Once you have a policy in place, you’re in a stronger position to adapt it as your life evolves. I also want to highlight the importance of honesty during the underwriting process. It’s not just a formality—it’s the foundation of a valid, reliable policy. Being transparent now ensures your loved ones won’t face complications later.
At the end of the day, life insurance is not just a product. It’s a promise. And making that promise early, honestly, and with the right support is one of the wisest moves you can make.” - Sharisa Maistry, Team Leader: Customer Care Retentions
Her insight reinforces that timing and truthfulness aren’t just technicalities—they’re the foundations of lasting financial security.
#wyzemove: If you already have life cover, think twice before cancelling it or “shopping around.” Reapplying later could mean higher premiums or new medical assessments that may impact your insurability.
Nonhlanhla shares another perspective on why staying committed to your policy can make a world of difference:
“If something happens to you, life insurance helps make sure your family isn’t left scrambling to cover bills or expenses. It’s like saying, “I’ve got you,” even when you’re not around.
Life insurance is one of those things that doesn’t change much over time. You pay your premiums, and you know your loved ones will get support when they need it most.
Just knowing that your family is taken care of gives you peace of mind.
It’s a Way to Leave Something Behind. Whether it’s helping your kids with school, paying off a house, or even donating to a cause you care about—life insurance lets you make a lasting impact.” - Nonhlanhla Kubheka, Manager: Life Operations
These simple truths highlight that life insurance isn’t just a contract—it’s a lasting expression of care for the people who matter most.
2. Be Honest During the Underwriting Process
When you apply for life insurance, you'll be asked a series of medical and lifestyle questions. It's crucial to answer these questions truthfully and accurately. This is known as the underwriting process, and it's how insurers assess the risk they’re taking on.
If you're not upfront about your health, habits, or history, your policy might be invalidated later on, potentially leaving your loved ones without the support they might need. Transparency now means certainty later.
3. Need More Cover? Expect Medical Questions Again
Life changes, and so do your needs. You might get married, have children, buy a home, or start a business. When your financial responsibilities grow, it’s wise to increase your life cover. Keep in mind that doing so may trigger a new round of medical underwriting.
That’s why starting with a policy that offers flexibility is a wise move. Again, the earlier you act, the better your position when it comes to updating or upgrading your cover.
4. Keep the Long-Term View in Mind
Cancelling a life insurance policy can be a costly mistake in the long run. You may lose valuable benefits, and if your health has changed since you first took out the policy, getting new cover may come with limitations or exclusions.
Think of life insurance as part of your long-term financial plan, not something to change as your needs shift. Regularly review your policy and adjust your coverage as needed but avoid cancelling unless you've thoroughly explored your alternatives. Even then, remember that switching to a new insurer may require you to undergo medical exams, and waiting periods or exclusions could also be imposed.
5. For Complex Needs, Speak to a Financial Adviser
Life insurance isn’t one-size-fits-all. If you’re looking at critical illness cover, disability protection, or more comprehensive solutions for your family, the best approach is to speak to a professional.
Life
Choose the Right Cover for You
At iWYZE, we offer simple, affordable life insurance designed to give you peace of mind and protecting those you care about most. Our life cover is straightforward, reliable, and easy to manage. Life insurance isn't just about what you pay, it's about what you protect. Start early, stay committed, and be honest from the beginning. That way, you’re not just buying insurance. You're building a legacy.
