You have come to the right place if you are looking about the Assupol life cover waiting period. Here you’ll learn about the time you have to wait for the Assupol life cover you have subscribed to become valid for claim.
Assupol Life Ltd. is a company that specializes in insurance and financial services.
The company offers various products, including funeral, life, and group insurance are among the goods offered by the company.
Assupol Life also provides investment and retirement accounts, as well as wills, and estates, as well as savings and investment programs.
Thus if you have bought a life cover, you should know the waiting period to be valid for claim.
But do you know what the waiting period means?
Well, it refers to the time between the start of your insurance policy and when the insurance company considers your claim as the waiting period.
After a waiting time, you can file a claim for accidental death payments.
Assupol Life Cover Waiting Period
Most South African insurers apply a standard waiting time after acquiring Assupol life insurance, and it applies to new cover, though not always to new contracts.
New Assupol life cover has a six-month waiting period from the date of acceptance.
If you’ve never had Assupol life cover before and you buy it, it’s considered news coverage because it’s the first time you’ve been covered by one.
A new policy could be the one indicated above or a different company’s life insurance. It can happen if you switch your Assupol life cover from one insurer to another.
In this circumstance, you have a new policy; however, your coverage is not new because you were covered by previous insurance.
If you have a new life cover and are a first-time member of life cover, there is a six-month waiting period for claims from natural causes.
If you are a registered member of the Assupol life cover and switch plans, this waiting period will not apply if the coverage you are acquiring is similar.
You have already completed the waiting period on your previous policy.
You must also have been a member of a previous insurance plan within the previous 31 days.