Life insurance is one of many tools that can help you create a financial safety net to protect your family. In a nutshell, you’d pay a monthly premium for a cover amount of your choosing and, in the event of your passing, your beneficiaries will receive it as a lump sum pay out. As a result, all life insurance policies essentially provide a death benefit, be it due to natural causes, an illness or accident.

Still, certain types of death aren’t covered under most life insurance policies. As an example, if you had a life insurance policy with MiWayLife, and had to pass away while committing a crime, such as taking illegal or unprescribed drugs or driving over the alcohol limit, you’re likely to be denied coverage.

What Is Accidental Death Cover?

Accidental death cover is another type of life insurance cover. Again, you’d pay a monthly premium and your beneficiaries would receive a pay out in the event of your passing, but only if it was due to an accident. This includes road accidents, drowning, fire and murder, among other things. While this cover isn’t as broad as having comprehensive life insurance, it’s attractive to some due to the fact that you’d typically pay a lower premium and receive a higher amount of coverage.

For the record, if you had a Life Cover policy with MiWayLife, you’d also be covered for Accidental Death equal to your total cover amount. So, you would have comprehensive cover starting at a premium as little as R140.*

Note, there are limitations in regard to what is considered an accident. Most insurance companies define it as “an “external incident that causes harm to the body of the life-insured, which harm excludes any sickness and which incident the life-insured did not intend and reasonably could not have foreseen.” The accident must also be the direct cause of death within 90 days of it taking place.

Consider MiWayLife’s Accidental Death Cover

If you take out a Life Cover policy with MiWayLife, aside from receiving that R5 000 000 in cover for just R195 per month, you’ll also have access to an accelerated funeral benefit. This way, should you pass away due to an accident, your beneficiary will receive R50 000 within 48 hours of receiving the required claim information. Our Life Cover policy also includes a Funeral Benefit that extends to your family, however, your premium will increase slightly with every additional life insured.



Did you know:

You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.