A funeral policy gives your loved ones the financial support they need during a difficult time, ensuring they don’t have to worry about expenses while grieving. But like all insurance policies, funeral cover comes with a waiting period, and understanding how it works can help you make the most of your cover.
Confused about MiFuneral’s waiting periods? Here’s what you need to know to ensure your family is always protected.
A funeral policy gives your loved ones the financial support they need during a difficult time, ensuring they don’t have to worry about expenses while grieving. But like all insurance policies, funeral cover comes with a waiting period, and understanding how it works can help you make the most of your cover.
At MiWayLife, we believe in keeping things simple and transparent so here’s everything you need to know about our waiting periods.
What Is a Waiting Period?
A waiting period is the amount of time you need to wait before certain benefits on your policy become available. It applies to natural causes of death but not to accidental death, which is covered from your inception date. Waiting periods are common across all funeral insurance providers and are there to protect both the insurer and honest policyholders.
Why Do Waiting Periods Exist?
Waiting periods help keep funeral cover affordable and fair for everyone. Without them, someone could take out a policy today, claim tomorrow, and never contribute towards the risk pool - making it unfair for long-term policyholders and driving up the cost of cover for everyone. They also help prevent fraud and ensure that insurance companies can continue paying valid claims quickly and reliably.
MiFuneral Waiting Periods Made Simple
Accidental Death – Immediate Cover
If the insured person passes away due to an accident, there is no waiting period. Cover begins immediately from the start date of the policy.
Natural Death – Six-Month Waiting Period
If death is due to natural causes, such as illness, there is a six-month waiting period from the policy start date. If the insured person passes away due to natural causes within this period, the claim will not be paid out.
Suicide – 12-Month Waiting Period
In cases of suicide, the waiting period is 12 months from the policy’s start date or the date on which the cover has been reinstated after an earlier lapse.
Can You Waive the Waiting Period?
Sometimes, yes! If you had funeral cover with another insurer and switched to MiFuneral within 31 days, you might not have to restart the waiting period. This will depend on whether you can prove that you had an active funeral policy and paid the premiums before cancelling it. If your previous policy had an incomplete waiting period, MiFuneral will apply the remaining time left instead of starting over.
Why Choose MiFuneral?
MiFuneral is designed with real South Africans in mind, offering an affordable and hassle-free way to ensure your loved ones are looked after. It’s a fully digital policy, so you can sign up quickly and manage everything online - no paperwork, no stress. We also prioritise fast payouts, meaning claims are processed within 48 hours once all required documents are received. Plus, the policy includes funeral assistance and a repatriation service, helping families with funeral arrangements during an emotionally difficult time.
The Bottom Line
With no waiting period for accidental death, fair waiting periods for natural causes, and an option to waive waiting periods if you switch from another insurer, MiFuneral is designed to put your family first. Also, as you get to enjoy flexible cover options, you can protect your entire family, including extended family members, at a price that suits your pocket.
Did You Know:
You can now take out affordable funeral cover with us online in a few simple steps. No calls and no agents! Discover the digital way to enjoy full peace of mind by buying a MiFuneral Policy cover online.
