Is there a waiting period for final expense insurance?

Typically, there is a waiting period for final expense insurance policies, during which time the policy is not in effect. This waiting period is known as the "contestability period" and it is typically two years (24 months) from the date the policy is issued. This means that if the policyholder dies within the first two years of the policy, the insurance company has the right to investigate the cause of death and determine whether the death was the result of suicide, fraud, or other prohibited causes. If the death is determined to be the result of one of these prohibited causes, the insurance company may deny the death benefit claim.

However, there are some carriers which also provide immediate coverage policies which have no waiting period or a shorter waiting period. It's important to check the specific policy details and ask your insurance agent if there is any waiting period before purchasing your policy.

Last updated: January 10, 2023