Love beyond today: Secure your loved ones’ future with life cover

February brings romance and heartfelt gestures, but what if this year’s gift could last a lifetime?

Joretha Bothma, Head of Product Development, Underwriting and Claims at Momentum Life Insurance, says, “Life cover is perhaps the most romantic gesture you can make. Even after you're gone, your love continues to shine through, ensuring your family remains financially secure.”

Unlike chocolates and roses, which are fleeting, life cover (also known as a death benefit) offers lasting security and financial peace of mind. It can provide protection for a lifetime, or be tailored to specific needs, such as covering a home loan or ensuring your children’s education is provided for.

Most importantly, Bothma emphasises that life cover should be continuously reviewed to ensure it meets your evolving financial needs. “Life cover doesn’t have to be a lifelong commitment but should be a well-planned decision based on individual circumstances. For example, a 20-year policy may be the most suitable solution to cover a home loan repayment term. However, it’s essential to reassess your cover if your circumstances change, such as the birth of a child, to ensure you leave a lasting legacy and provide ongoing financial security for your loved ones.

This Valentine’s Day (and throughout the month of love), Bothma encourages couples to look beyond traditional gifts, and consider life cover as a profound expression of their commitment towards each other and their family. “This month should be about showing how much you care by making sure the people you love are financially secure, no matter what happens,” she adds.

Financial protection is one of the greatest gifts you can give a partner. Life cover provides a financial cushion for families when they need it most. Bothma highlights its practicality, noting, “The ability to provide a lump sum payout upon death offers significant peace of mind in a time of grief.”

Momentum Life Insurance offers several life cover benefits tailored to different needs. For example, a traditional life cover benefit pays a lump sum amount to your beneficiaries in the event of your death, whereas the Education Protector Benefit ensures that children’s education is covered in the event of a tragedy – however if you don’t claim under this benefit, the premiums are refunded at the end of the policy term, serving as a nice way to supplement your child’s university funding. Meanwhile, the Funeral Benefit provides up to R100,000 within one working day of the insured’s passing, helping to ease immediate financial burdens.

“These benefits are a tangible step towards securing a financially stable future for your loved ones,” says Bothma.

She encourages couples to have meaningful discussions about life cover. “Talk to a financial adviser to understand your needs and consider how life cover can be a lasting testament to your commitment and security as a family.”

This Valentine’s Month, celebrate love in a meaningful way – by securing the future of those who matter most.