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Is There A Time Limit To Place A Claim on A Life Insurance Policy?
Is There A Time Limit To Place A Claim on A Life Insurance Policy?
14 Mar 2022

While most funeral policies settle claims within 24 hours, it could take longer for a life insurance policy to payout due to the review process that happens after a claim is placed. Here is what you need to know.

Is there a time limit? 
The short answer to this is no. Should the policy have been kept up to date by the policy holder, with all premiums paid, the beneficiaries can come forward a few months or even years after the policyholder has passed on to access the life insurance payout. The only time when a claim is not paid out is when the policyholder has gone against the terms and conditions or has not been honest with their insurer regarding their medical history. However, it is always better to file for a claim as soon as possible to avoid having a payout unclaimed. 


How long does it take for life insurance policies to payout?
Funeral policies usually take between 24 - 48 hours to payout but this isn't the case with life insurance policies. Your insurer will have to carry out a review process to see that all is in order regarding the death and policy as well as ensure all the documents that are needed to process the claim are complete and correct. This could take anything between a month or more to make sure that the payout ends up in the right hands. 


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What are the documents you will need to start a claim? 

Having a smooth claims process is something that we all want, but not knowing how to go about placing a claim or how long it can take can lead to frustration. Most insurers will have the information on how you can place a claim online. You can also make a call to understand the process involved in placing a claim. For MiWayLife customers, you can email your claim to claims@miwaylife.co.za and one of our dedicated claims team members will ensure that the process is assessed and completed as smoothly as possible.


To submit a claim with MiWayLife after a policyholder has passed away, you’ll need:


  • A fully completed MiWayLife claim form found here
  • A certified copy of the Death Certificate
  • A fully completed DHA-1663 form
  • Certified copies of the ID of the insured life or of all the beneficiaries
  • Three months of bank statements for the beneficiary(ies)


There are instances where a claim is not placed because the beneficiaries are unaware that a loved one had a life insurance policy. Therefore, it is vital to disclose to a trusted loved one or have a legally recognised will in place to ensure that your loved ones receive the payout of a life insurance policy that you have been working so hard for.

Need more information on MiWayLife? Read about our life insurance product, or get a life insurance quote in 30 seconds. Alternatively, call us on 0860 64 54 33 .
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Terms and conditions apply. Eligibility, cover and benefits are determined on individual risk profile. MiWayLife is an authorised FSP (No. 45741) and its product offering is underwritten by Sanlam Life Insurance Limited, a registered long-term insurer. MiWayLife is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06