smartMI Funeral Insurance
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Funeral Insurance FAQs

Who can claim?

Main member for all other persons covered on the policy and a beneficiary in the event of death of the main member. 

How long does a claim take to be paid out?
Claims are processed within 48 working hours after receipt of all documentation. If approved, payment happens after that. 
What documents required for claim?
Certified ID of Deceased 
Certified ID of Beneficiary 
Certified BI-5 Death Certificate
BI-1663 Notice of Death
Bank Statement 
Completed and signed Bank Form provided by smartMI 
Completed and signed Claim Form provided by smartMI
What is an IB?
BI-5 is the Death Certificate 
BI-1663 is the Notice of Death 
What is a police declaration?
The police declaration is a document we give to the client to take to the police station for completion when the cause of death is accidental. 
What is a letter of authority?
The Letter of Authority is a document issued by the Family Court to appoint a new beneficiary if the current beneficiary on the policy died and there were no changes made. The court decides who to appoint and who must receive the policy pay-out. 
In what event would the claim not pay out?
If the policy was not paid 
If deceased dies within the waiting period 
If the claim expires (6 months after date of death) 
What is your minimum cover and maximum cover amount?
Minimum cover amount is R3000 and the maximum amount of cover we allow per individual is R40 000.
From what age do you start joining?

From 18 years old up to 94 years

What is the waiting period?
6 Months Waiting Period for Natural Death and Suicide from date of the inception at smartMI
Accidental Death is covered from date and time joined
When can I cancel my policy?

The Main Member can cancel the policy at any given time by submitting the request in writing to our Head Quarters

Do you pay claims in cash?

Yes, all our products are paid via EFT

Will my premiums be refunded if I cancel?

Refunds of premiums are only made during the cooling off period (refer to our Terms & Conditions). Any premiums paid after this was paid over to the insurer for cover and will not be refunded.

What are your payment methods?
Deposit at FNB or Standard Bank
We can run a debit order on your account 
You can do a bank transfer (EFT) to our account
You can pay with your card at any of our branches
You can use ANY Pay@ outlet such as Shoprite, Checkers, Boxer, PEP, Ackermans, Pick ‘n Pay etc.
Pay smartMI with your Capitec app
How to submit a claim from a city or area that does not have a branch

Claim Documentation can be submitted to the Head Quarters via online form, SMS link, Email, Fax or WhatsApp. Our efficient claim team members will assist you from there.

Does smartMI do the burial / funeral?

No, we do not do burials or funerals. We pay cash out via EFT so you can arrange and pay for the funeral

Do you provide products or money?

Claims are paid in cash via EFT and no products are provided

Do I get a payback if I do not claim after 5 years?
 Unfortunately, we do not currently have a cash back product.
After how many years do I stop paying for the Policy?

The policy is payable for as long as the insured live / lives are on cover at smartMI. Policies do not become automatically paid up after a certain number of years.

How many children can I cover and up to what age?

Children are covered up to the age of 24, but we the number of children we allow on a product differs. Please refer to our product page for more information.

On which date should I pay my premiums?

Premiums are payable on the 1st of a month for that month with a grace period until the 20th of a month. 

Are beneficiaries automatically covered on the policy?

No, the beneficiary is only listed on the policy for payment purposes and has no cover on the policy at all

Single | Family | Individual | FAQs

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