To keep insurance premiums as low as possible for everyone, most insurers have waiting periods, which meansthat, when you take out new insurance (eg a life insurance or funeral policy), you are not covered immediately. Forsome claims you have to wait a while before you can claim. And if you have an existing policy but miss your premiumpayments, you will have to wait again before you can claim.
Different insurance companies offer different waiting periods, and it is important to take note of these waiting periodsbefore you decide on a policy. Waiting periods can be fixed, for example three or six months, or it can be the perioduntil you have paid a certain number of premiums.
Some policies do not have waiting periods for 'accidental death', which means if you die because of an accident (eg acar accident), your policy will pay out even if the waiting period has not yet expired yet.
Waiting periods vary from policy to policy, and the exact terms and conditions will be explained in your policy. Makesure you understand how waiting periods impact your cover.
When waiting periods may apply
Cover during the waiting period
What you are covered for: Claims for death resulting from an accident.
What you are not covered for: Claims for death resulting from:
Cover after the waiting period
What you are covered for
Claims for death resulting from:
Death resulting from any causes stipulated in yourgeneral policy conditions:
If you are uncertain about whether your policy has waiting periods, please:
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