Need to know
- Your income may be your most valuable asset, and it's worth protecting.
- Serious illness, disability, or death can affect your finances at any age.
- Financial protection helps safeguard your lifestyle, savings, and future goals.
Think life insurance is only for parents?
Many South Africans do.
If nobody depends on you financially, it's easy to assume that life insurance and financial protection can wait until later.
But if your income pays your rent, home loan, vehicle finance, debt repayments or everyday expenses, you already have something worth protecting.
In many cases, the person most dependent on your income is actually you.
Your income powers your future
When people think about valuable assets, they often think about their car, home or investments.
But your ability to earn an income over the next 30 or 40 years may be your greatest financial asset of all.
Your income funds your lifestyle today and helps you build the future you want tomorrow.
That's why financial protection isn't only about protecting other people. It's also about protecting your own financial well-being if life takes an unexpected turn.
Momentum Life Insurance’s 2025 claims statistics
Momentum Life Insurance’s 2025 claims statistics show that 62% of death claims for clients younger than 30 resulted from unnatural causes, with motor vehicle accidents being the leading cause.
While nobody likes to think about worst-case scenarios, these statistics remind us that financial risk is not determined by age.
It's not only death that creates financial pressure
One of the biggest misconceptions about financial protection is that it's only needed when someone passes away.
In reality, surviving a serious illness can create significant financial challenges, too.
Critical illness claims exceeded R1 billion during 2025. At the same time, 87% of clients who died from cancer or cardiovascular conditions did not have critical illness cover in place with Momentum Life Insurance.
Thanks to advances in medicine, people now survive major health events that may previously have been fatal. While this is encouraging, surviving a serious illness can bring financial challenges that many people may not have planned for.
That is why comprehensive financial protection is about more than a single benefit. It is about preparing for a range of possible outcomes.
Four questions worth asking yourself
Take a moment to consider the following:
- If I died tomorrow, what would happen to my financial commitments?
- If I couldn't work for a year because of illness or injury, how would I cover my monthly expenses?
- If I could never return to my profession, how would I fund my future financial needs?
- Would my current employee benefits fully replace my income if something went wrong?
The answers can help you identify potential gaps in your financial protection planning.
In many cases, you are your own most important dependant.
~ George Kolbe, Head of Marketing and Enablement at Momentum Life Insurance.
Financial protection is not only about protecting the people who depend on you.
It is also about protecting the life you are building.
Whether you're buying your first home, growing your savings or simply working towards future goals, the question remains the same:
If you couldn't earn an income tomorrow, would your financial future remain secure?
Not sure if you have the right financial protection in place? We're here to help you understand your options and find life insurance cover that fits your life and goals.
Get a life insurance quote
Your future deserves protection. Get an online life insurance quote in 3 minutes or chat to a financial adviser to find the protection that's right for you and the future you're building.
Momentum is part of Momentum Metropolitan Life Limited, an authorised financial services and registered credit provider. Terms and Conditions apply.
ABOUT THE AUTHOR
George Kolbe
HEAD OF MARKETING & ENABLEMENT AT MOMENTUM LIFE INSURANCE
George Kolbe holds a BMil (Hons) in Industrial Psychology from Stellenbosch University and various industry-related qualifications, including an Advanced CFP® from the University of the Free State.
As Head of Marketing and Enablement at Momentum Life Insurance, George is responsible for marketing the Momentum Life Insurance product range.
With more than 26 years of experience in the financial services industry, George has held a range of leadership roles spanning business development, sales enablement and marketing.
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