A waiting period means the full benefit isn't there right away. If you pass from natural causes in the first couple of years, your family may get back only what you paid in, plus some interest. Plenty of people end up with one without realizing they could have avoided it.
Here's how to get final expense coverage that pays the full amount from day one.
Plans with and without a waiting period
| Plan type | Waiting period? | Who it fits |
|---|---|---|
| Fully covered (level, immediate) | No. Full benefit from day one. | People who answer the health questions well, including many with common conditions. |
| Graded or modified | Partial. A smaller benefit for the first couple of years. | People with more serious or recent health history. |
| Guaranteed acceptance | Yes, often two years for natural causes. | People whose health rules out the other two. |
Accidental death is usually covered in full from day one, even on plans with a waiting period. Read the policy to be sure.
Who qualifies for no waiting period
More people than you'd think. Many fully covered plans accept people with:
- High blood pressure or high cholesterol
- Diabetes managed with pills, and often with insulin
- A heart attack, stent or cancer treatment that was several years ago
- Mild COPD without oxygen at some companies
Each company asks its own questions. A condition that puts you on a graded plan at one company may get full coverage at another. See our health condition guides for specifics.
Why so many people end up with a waiting period
Many plans advertised on TV and by mail are guaranteed acceptance. They're easy to buy because there are no health questions, but that's exactly why they come with a waiting period. A healthy person who buys one is paying for a waiting period they didn't need.
Don't confuse it with the contestable period
Almost every life insurance policy has a two-year contestable period. During that time, the company can review a claim and the application. If the application was accurate, the claim is paid in full. That's different from a waiting period, which limits the benefit no matter how accurate your answers were. Honest answers protect you either way.
How to get full coverage from day one
Answer the health questions with an agent
Not on a TV ad form. An independent agent can match your answers to the companies most likely to say yes.
Compare more than one company
One company's decline or graded offer can be another company's full coverage. That's the main reason to work with an independent agent who checks several companies at once.
Apply before your next birthday
Prices rise with age, and some health questions look back a set number of years, so timing matters.
Answer honestly
If the application isn't accurate, the company may have grounds to deny the claim later, which is the one thing your family can't afford.
Want coverage with no waiting period?
On a free call I'll go through the health questions with you and check several companies for a plan with the full benefit from day one. If a waiting period is the only option, I'll tell you why. Licensed in Arizona. By phone or video, no obligation.
Common questions
Is there final expense insurance with no waiting period?
Yes. Fully covered, also called level or immediate, plans pay the full benefit from day one. You qualify by answering health questions.
Who has to take a plan with a waiting period?
Usually people whose recent or serious health history rules out fully covered and graded plans. Many people with common conditions still qualify for no waiting period.
What happens if I die during the waiting period?
On most guaranteed plans, your beneficiary gets back the premiums paid, often plus interest. Accidental death is usually paid in full from day one.
Is the waiting period the same as the contestable period?
No. The contestable period lets the company review the application during the first two years. If your answers were accurate, the full claim is paid.
Do TV final expense plans have a waiting period?
Many do, because they are guaranteed acceptance with no health questions. Ask before you buy.
What if I don't live in Arizona?
I'm licensed in Arizona today and adding more states soon. Send a quote request anyway and I'll let you know as soon as I can help in your state. In the meantime, the free guide walks you through how much coverage you need.
Nick Brown is an independent life insurance agent with NJN Insurance, licensed in Arizona (License 19720244). He compares plans from several companies and explains them clearly. NJN stands for Not Just a Number.