Is There a Waiting Period in Final Expense Insurance Policies?

In most cases, final expense insurance policies can immediately provide full death benefits, starting from your first day of coverage. All one needs to do is have the application approved and pay the first premium to secure coverage, and your paperwork should display the policy effective date. However, if your policy has a graded benefit, you’ll only have access to partial benefits at the start of the policy effective date. Full access to benefits will be available after a set period of time.

Typically the policyholder may have to wait two years before the whole benefit level is approved,” said Juan Carlos “JC” Doitteau, President at Insurance Pro.