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This type of Funeral Cover offers an option where there is no period in which your beneficiaries have to wait for a policy to be paid out in the event of accidental death. Most policies have a time period, effective from the time you sign up wherein your beneficiaries cannot be paid out in the event of a natural death.
Most policies have a waiting period effective from the time you sign up. A natural death waiting period applies to persons who have died naturally such as by heart attack or contracting a fatal infection. The waiting period for natural death is normally between 6 and 12 months. There is also a pre-existing condition waiting period, which is related to a pre-existing disease. If a family member has a chronic medical condition at the time of signing up for the cover, you may not be able to claim for their death if they pass away within 24 months of signing up.
There are Funeral Cover policies available where no waiting period is stipulated, but this is an option you should discuss with the Funeral Cover provider before signing up for cover. Do your research online today and find the right policy to suit your and your family’s needs.