This optional MiFuneral benefit can help your family manage financially for a year after your passing.
We know that losing a loved one can leave a big gap emotionally, but if they’re a breadwinner, it can also create a gap in monthly income – and that’s where MiFuneral’s Income Support Benefit comes in. Available as an optional add-on to your policy, this benefit provides your nominated beneficiary with a monthly payout for an entire year, helping them cover everyday costs while they adjust to their new normal.
How Does MiFuneral’s Income Support Cover Work?
While MiFuneral’s Funeral Benefit helps settle immediate costs, our Income Support Benefit offers even more peace of mind by helping your family handle their monthly expenses. If you pass away and your funeral claim is approved, the Income Support Cover starts at the end of the month the claim is processed. It provides your beneficiary with a monthly income of your choosing, up to R8000, for 12 consecutive months.
Who Receives the Income Support Benefit?
These monthly payouts go to the person you nominated as your beneficiary as long as they’re 18 years or older and have a valid South African bank account.
For example, if a husband is covered under MiFuneral and has added the Income Support Benefit, he could choose to nominate his wife as the recipient. If he passes away and the claim is approved, she would receive monthly income payments for the next 12 months.
The Bottom Line
MiFuneral’s Income Support Cover is more than just an add-on – it’s a way to show up for your family, even when you’re no longer there to provide for them yourself. By adding this to your MiFuneral Policy, you’re helping your loved ones stay afloat while they find their footing.
As MiWayLife celebrates one year of MiFuneral, we’re proud to say this invaluable benefit, along with our other optional benefit, Final Expenses Cover, has already given countless South Africans the peace of mind they deserve. It’s been a year of making a difference and we’re just getting started!
If you’re looking for funeral cover that can give you so much more than just a once- off payout, why not get a quick quote today?
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.
