Read time: 3 minutes

What does a waiting period mean on funeral cover?

Funeral cover is a great way to cover the expenses that come with a funeral, but it's possible that it won't be paid out immediately because of a waiting period. Here is what you need to know about waiting periods and how it will affect your cover.

What is a waiting period?

A waiting period is a timeframe in which you must wait before you can claim or have an insurance benefit paid out. This will differ from insurer to insurer but is usually stated in the policies terms and conditions.

Most funeral covers have a six-month waiting period. What this means is that you will only be able to claim from your policy six months after the date in which your policy was in effect. Any deaths that occur within in the six-month period will not be covered.

Do all funeral covers come with a waiting period?

All funeral covers in South Africa have a waiting period of six months. The reason for this is that insurers avoid taking on people who are high risk. It is also a security feature to avoid anyone dying under suspicious circumstances or only paying a few premiums for a large return in the form of the funeral cover.

Waiting period for suicides

Most insurers will have a waiting period of 24 months on covering suicidal deaths to decrease the chances of scammers looking for a way to get a quick payout. Always remember to check the inclusions and exclusions that come with your policy, which tend to list the waiting periods.

What to remember about waiting periods

  • It is a timeframe that you need to wait before you can claim from it.
  • The timeframe in which you will be able to claim varies from six to 12 to 24 months.
  • Should you cancel your policy, you will not receive any refunds on your premiums you have paid up until the point of cancellation. Your policy will remain active as long as you pay your monthly premiums.

At MiWayLife, we’ve reimagined how life insurance should work. We’re proud to offer personalised life and funeral cover for the bold, vibrant and eclectic South African families that we all know and love to ensure that everyday South Africans can get cover that suits them and their unique lifestyles.

MiWayLife offers a 4-in-1 policy with only one monthly premium.

Editorial contacts
Kirsten Hopwood-Reynecke [email protected]