Funeral Cover Waiting Period

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Funeral Cover Waiting Period


Firstly, many of us don’t understand what it means to have a funeral cover waiting period on a policy. In the insurance industry, a waiting period will often apply to prevent the public from taking out cover for a person that has a pre-existing condition. What it comes down to, in the funeral cover industry, most providers will have a 6 month waiting period for natural causes.  The reason why this is an industry standard is very simple. Funeral cover providers don’t want you to wait until the last minute before you take out a funeral policy.

Secondly, most South-African funeral cover providers will cover serious illness like Cancer or AIDS. Under the condition that you have to wait 6 months before you can make any claims. Finding funeral cover with no waiting period will be a very difficult task. It makes no sense from a provider point of view to waive the industry standard waiting period.

Why is There a Waiting Period on Funeral Cover?

Lastly, a funeral cover waiting period is to prevent you from taking the policy while you are on your death bed. If there was absolutely no waiting period on funeral cover, everybody would just wait until they are critically ill before applying. With the above said, most funeral cover providers in South-Africa will cover you from your very first premium for all accidental death. This means if you take out a funeral cover policy, you will be covered almost immediately for many events. This can include things like murder, car accident and most other accidental deaths. Some providers will even double your payout or provide you with extra benefits. This will be should you die as a result of an accident anytime while your funeral cover is in force.

Don’t think that South-African funeral cover providers are trying to trick you in. Because this is definitely not the case. The waiting period will be in force to protect the provider from claims arising from people on the verge of knowingly dying. Something to consider, with funeral cover, there are no medical questions or examinations. The important thing to remember is the funeral cover provider must give you the benefit of the doubt.

Is There A Funeral Policy with No Waiting Period?

To our knowledge, are very few funeral cover policies that have absolutely no waiting period. Remember, if you find a funeral policy with no waiting period, it will usually be for a very small cover amount. A funeral plan without a waiting period will most likely be of no or very little benefit to you. In most cases, a waiting period is a assign that the provider knows what they are doing. This is because they are able to manage risk. Managing risk is important for any provider. You want to make sure the provider is still there when you want to claim.

Funeral Cover Waiting Period

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