I've Been Thinking About Creating an Inheritance All Wrong

Carly Esterhuizen, VP of Brand at EasyEquities, shares her revelation about creating an inheritance and how t obe more strategic about life insurance. 

For as long as I can remember, life insurance has been my go-to plan for creating an inheritance for my daughter. In my mind, it was the ultimate safety net - a guarantee that she would have financial security after I’m gone. For years, I’ve been paying around R450 per month for R1 million in cover. The premiums are age-adjusted, meaning they’ll go up as I get older, but I was okay with that because I believed it was a worthwhile expense for her future.

Then I had a conversation that completely changed my perspective.

I was chatting with Mbulelo, who heads up EasyProtect at EasyEquities. When he asked me why I hadn’t considered an EasyProtect policy, I had a ready answer: “I don’t want my cover to decrease as my assets grow. I’m counting on my life insurance payout as a guaranteed inheritance for my daughter.”

Mbulelo listened patiently, then hit me with some facts I couldn’t ignore.

The Truth About My Future Premiums

He explained that as I get older, my premiums could become exponentially higher. That’s a huge burden for someone who is retired and trying to stretch every cent of their savings to cover living expenses.

I immediately thought of my mom, who pays a significant amount for life insurance out of her retirement income. I’ve often wished she didn’t have to make that sacrifice - that she could use that money for herself instead. It struck me: I didn’t want to find myself in the same position someday, taking from my retirement savings just to keep my life insurance in place.

The Changing Role of a Safety Net

Mbulelo also pointed out something I hadn’t considered. By the time I’m older, my daughter’s dependency on me will have reduced substantially. She won’t need the same level of financial support from me.

I had never thought about it that way. My daughter is growing into her independence, and while I still want to provide for her, the reality is that her need for a financial safety net will naturally decrease over time.

The Game-Changing Quote

At Mbulelo’s urging, I decided to get an EasyProtect quote. And that’s when the biggest surprise hit me. For the same R450 I’m paying now, I could get R4 million in cover with EasyProtect!

Not only that, but I opted for level premiums, which means my monthly payments won’t increase as I age. That alone was a huge relief.

Because of my good investment habits, I was able to secure a really competitive rate. Mbulelo explained that EasyProtect’s pricing model takes investment behavior into account. If you’re an active and consistent investor, your risk rating goes down, and you can qualify for discounted premiums and higher cover.

A New Way of Thinking About Inheritance

Mbulelo also challenged me to think differently about the role of life insurance in creating an inheritance. Instead of relying solely on my policy, he suggested putting more money into my investments.

Here’s why it made sense: I could still come out paying less or the same as I would have with increasing premiums, but my money would have the opportunity to grow in the market over time. Plus, as my investment portfolio grows, I can reduce my life insurance cover (and premiums) and invest the difference. It’s a win-win - building a bigger nest egg while maintaining financial protection.

This conversation shifted my entire mindset. Instead of relying on life insurance as an inheritance, I’m now taking a more thoughtful and intentional approach to building wealth for myself and my daughter.

My Epiphany and a Festive Bonus

Getting an EasyProtect quote wasn’t just an epiphany — it also came with a bonus. Because I got a quote in November 2024 during a I also got one month of complimentary cover. That extra bit of security during the festive season, when risks tend to be higher, felt like the cherry on top.

Final Thoughts

I used to think life insurance was the key to creating an inheritance. Now I see it as part of a bigger, more dynamic wealth-building strategy. By investing wisely and securing affordable, level-premium life insurance, I’m not only providing for my daughter’s future but also ensuring that my retirement years are free from unnecessary financial strain.

If you’ve been thinking about life insurance the way I was, I encourage you to get a quote from EasyProtect. You might just have the same lightbulb moment I did.

Here’s to building wealth with intention!

EasyProtect Life is a life insurance product underwritten and administered by Sanlam Life Insurance Limited, a licensed life insurer, and is offered exclusively on the EasyEquities platform for distribution by EasyEquities. EasyEquities is an authorised FSP, registered credit provider and licensed ODP.