South Africans are rewriting the rules of women’s wealth

Women contribute nearly 48% to South Africa’s GDP. This drives economic activity in offices, homes, side hustles, small businesses and community networks. When paired with the reality that women often do this while managing caregiving roles, this figure takes on even more significance.

Despite this, many financial products often feel out of step with the way that millions of South African women live their lives. The traditional model assumes a linear career path, a permanent contract, a generous employer pension and a default breadwinner who works a nine to five. A two-year study on the gig economy found that 52% of women have reported having to take on a “side hustle” and women make up nearly 40% of the gig workforce in South Africa. Given some of the economic pressure people are under, this can make the idea of financial protection and insurance, a soft life pipe dream.

If you are wondering, the “soft life” started as a social media buzzword has evolved into something more substantial: a shorthand for freedom and comfort. But soft doesn’t mean frivolous. It means secure. And security requires a solid financial base, one that doesn’t crumble at the first bump in the road.

Having long-term cover can help mitigate against this. Not just to safeguard against the worst, but to support the everyday. In 2024, South Africa’s long term life insurers paid out a record R639 billion in death, disability, critical illness and income protection claims. This money paid school fees, fed families and helped make memories. What’s more, income protection, life cover and disability insurance are for more than just emergencies. They’re tools that let you take time off when you need it, pivot careers, or care for others without derailing your financial future.

This Women’s Month, glu is offering practical advice for women who want to take control of their financial wellbeing, not just to protect what they have, but to build towards the life they deserve.

1. Think about insurance as a living benefit, not just a safety net
Most people see insurance as something you only need when things go wrong. But the right cover can give you options in your everyday life too, like taking time off after burnout, recovering from illness without losing income, or switching careers while still being financially protected. That’s what makes life, income, critical illness, and disability cover so powerful, they offer stability that supports you while you're still living and building.

2. Choose cover that evolves with your lifestyle
Women’s lives are dynamic. Whether it’s having children, switching careers, moving cities, or supporting extended family, your financial needs change over time, and your cover should too. Look for solutions that grow with you, rather than locking you into one model of what life “should” look like.

3. Don’t underestimate the gig economy
Whether it’s a creative side hustle or freelance work that sustains your household, non-traditional income is real income, and it deserves protection. Too often, women working outside of a typical 9-to-5 find themselves excluded from products that assume stable, salaried jobs. If your income is irregular or project-based, it’s worth looking for financial tools designed with that reality in mind.

4. Build for the future, even when today is tough
It’s hard to think long-term when budgets are tight. But small, consistent actions, like keeping cover in place or choosing products with long-term value built in, can have a big impact down the line. Financial resilience doesn’t happen all at once; it builds slowly, even quietly, over time.

5. Look for products that give back
Most insurance is transactional: you pay your premiums, and that’s where it ends. But some models are starting to rethink that approach. Mutuality is one example, it means the business and its members collectively benefit from the business’s success. With this kind of model, members gradually build extra value into their cover over time, without added complexity or conditions.

6. Make space for softness, and security
Financial wellbeing isn’t just about surviving, it’s about thriving. A “soft life” isn’t a luxury, it’s a goal, one rooted in safety, time, and peace of mind. Building financial stability means creating space for both comfort and protection as you navigate the complexities of life.

You don’t need to be a financial expert to make good decisions. But you do need tools and a financial partner (bestie) that help you navigate the complexity of your life, and give you the freedom to build something better.