MiWay Life Insurance Review 2026
MiWay's life insurance is sold under a dedicated brand — MiWayLife (miwaylife.co.za), a separate site from the main MiWay insurer. Verified against MiWayLife's own site in July 2026.
Key features
- Entry point: R500,000 life cover from R164/month.
- No medicals: marketed as cover "without the need for invasive medical tests."
- Funeral benefit: 10% of your life cover amount, capped at R50,000, paid within 48 hours — covers your spouse, up to 8 children, 4 parents, and 8 extended family members.
- Terminal illness accelerator: 50% or 100% of your life cover payable early on diagnosis.
- Micashback: 10% of total premiums paid back every 24 months, for new policyholders only, terms and conditions apply.
- Cover growth: increases 5% per year.
How to apply
MiWayLife offers a 30-second online quote tool, and you can buy directly online without going through an adviser.
Is it worth it?
The R164/month entry price for R500,000 cover, combined with the Micashback rebate, makes this a competitively priced no-medical option — especially for a straightforward online application. Compare life insurance providers to see how it stacks up against your specific cover needs.
