Losing someone to suicide is an incredibly painful experience. While no amount of money can undo the heartbreak, life insurance can help ease the financial burden left behind. But does life cover still pay out if the cause of death is suicide? The answer depends on your insurer and when the policy was taken out – and understanding this timing can make all the difference for your loved ones.

Does MiWayLife Cover Suicidal Deaths?

MiWayLife does pay out for death by suicide, but there is a waiting period that applies. Like most life insurers in South Africa, MiWayLife includes a 24-month suicide exclusion clause in its life cover policies. This means that if a policyholder passes away due to suicide within the first two years of taking out the policy – or within two years of reinstating it after it has lapsed – the claim will unfortunately not be valid. The same condition applies to any increase in cover, unless it's part of an automatic annual benefit increase.

Why Is There A 2-Year Exclusion?

This exclusion is in place to protect both the insurer and the wider community of policyholders. It’s designed to prevent fraudulent claims, such as someone taking out a large policy with the intention of ending their life shortly afterwards, leaving the insurer with a significant payout after collecting only a single premium. It’s a difficult but necessary safeguard and it's why it’s so important to understand your policy's terms and conditions.

Can I Still Get Life Cover If I’ve Had Depression?

Having a history of depression or anxiety doesn’t automatically disqualify you from being covered. But you do need to be honest when applying. MiWayLife, like other insurers, assesses each application on a case-by-case basis. If you’ve had recent or severe episodes, or past suicide attempts, this might affect the terms of your policy. You could face something called a loading, which is an extra cost added to your monthly premium due to a higher level of risk.

The best approach is transparency. If you fail to disclose a mental health condition and later pass away, your claim could be declined.

The Bottom Line

If you or someone you love is struggling with mental health, it’s important to get help. Life insurance is there to protect your family, and being upfront with your insurer ensures that your cover will stand when it matters most.

If you're ever in crisis, don’t face it alone. Reach out to the South African Depression and Anxiety Group (SADAG) on 0800 567 567. Help is available 24/7.

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.