You’re the one who ensures your loved ones have everything they need to live their best life. Thing is, if you had to pass away unexpectedly, how would your family manage to pay the daily bills? Fortunately, this is where MiFuneral Policy’s Income Support Benefit gets to shine.

But first, what is MiFuneral Policy?

MiFuneral Policy is a new digital-first approach to end-of-life planning designed to meet the needs of all South Africans. It can be bought online in minutes with a few quick clicks and, because you get to choose your cover amount and don’t need to pay extra broker or administration fees, we can offer you an affordable premium. You can also choose to cover yourself, your immediate family, and your extended family under one policy. The customisation doesn’t stop there – you can even tailor your cover to suit your unique needs by selecting extra benefits. These include Income Support Cover, something that can be a much-appreciated financial lifeline for your family when they need it the most.  

What is MiFuneral’s Income Support Cover Benefit?

MiFuneral’s Income Support Cover is an optional benefit to give you even more peace of mind by providing your family with short-term yet consistent financial support. If you choose to add our Income Support Cover benefit to your MiFuneral policy, you can select the amount of monthly income you want your beneficiaries to receive. This benefit is paid out for 12 months after an approved claim. The first income payment will be at the end of the benefit month in which we admit the claim. After that, the remaining income payments will be made at the end of each following month. This way, your family will receive a year’s worth of financial support. This gives them time to adjust to their “new normal” without the added stress of wondering how they’re going to pay the bills during an already difficult time.

More reasons to choose MiFuneral Cover

Another of MiFuneral’s optional benefits is Final Expenses Cover. It allows you or your spouse to take out R50 000 in additional cover that’s separate from your Funeral Cover Benefit and Income Support Cover. It’s not intended to cover the cost of the funeral but is available to protect you against other end-of-life expenses. As with all our benefits, nothing is dictating how your family use this payout. It’s another way to ensure they have what they need to cover any expenses that might arise in the event of your passing, be it medical bills, counselling or anything else they might have relied on you to pay for. 

Aside from our optional benefits, all MiFuneral policyholders will have access to our complimentary Funeral Arrangement Service to provide you with telephonic support. Our agents will help your loved ones understand the application process for death certificates and other legal documents. This service also includes a Repatriation Service that extends to the transportation of ashes after cremation.

The bottom line

MiWayLife knows that the passing of a breadwinner can have a devastating financial impact on a family. In addition to unexpected funeral costs, there are other bills and ongoing expenses that need to be paid. Fortunately, MiFuneral’s Income Support Cover Benefit can give you an extra layer of financial protection for maximum peace of mind.

Did You Know:

You can now take out affordable funeral cover with us online in a few simple steps. No calls and no agents! Discover the digital way to enjoy full peace of mind by buying a MiFuneral Policy cover online.