When someone passes away, there are many administrative tasks to take care of. Besides planning a funeral and sorting out the person’s estate, many of the deceased’s accounts and insurance policies need to be notified. But what happens when legal complications prevent your family members and dependants from getting access to medical cover in the months following your death?
Premium Waiver is an insurance product which has been designed to provide monthly funding for medical aid contributions in the event of the principal member passing away. The benefit of this product is coverage of the medical aid contribution for a period of 3, 6 or 9 months. A 65 years age limit exists for entry to this product.
Why is this type of cover needed?
There are many instances where the principal medical aid member passes away, leaving their loved ones to pick up the pieces. Often, legal complications mean that family members only receive access to funds long after the passing of the principal member. They are left with the challenge to make sure that the medical aid cover they were used to is funded for whatever period is required.
It’s not uncommon for legal complications to arise in the event of a death. Make sure your family members are covered and that they can get quick and easy access to cash to cover medical complications. Contact Total Risk Administrators for more information about insurance Premium Waiver today.
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