5 Things to Know About Burial Insurance with No Waiting Period

In a technical sense, there is not burial insurance or final expense insurance. Instead, these are only terms that the industry uses to describe smaller life insurance policies. These are usually between $10,000 and $25,000, with different policies going as high as $50,000, for the main purpose of paying for your final expenses.
Moreover, these burial policies incline to vary from traditional term or whole life insurance policies. It is because of a reduced risk to an insurance company based on the smaller death benefit. As an outcome, many insurers do not want you to take a medical exam to qualify for coverage.

Image Source –
According to experts like Gary Cubeta from Insurance for Final Expense, when looking to purchase burial insurance with no waiting period, the main thing you should search for is a policy that will offer you complete coverage from the moment you start making payments.
The following are five things you should know about burial insurance with no waiting period:

  • Health Conditions That Cannot Avoid Waiting Periods

Burial insurance with no waiting period will give you immediate access to full benefits, but that is at the insurer’s risk. Since the risk is on the insurer, you will not be eligible for no-waiting period insurance if you are suffering from specific conditions. These health conditions may include:

  • HIV or AIDS
  • Stroke in the last 12 months
  • Dialysis
  • Cancer 
  • Heart attack or heart operation in the recent 12 months

However, it does not mean you will not be eligible for insurance. But if you have one or more conditions like this, it means you will need to get a burial insurance policy with a standard waiting period.

  • Coverage Never Cancels

If you have the right burial insurance policy, you can be sure that your insurance never cancels. Contrary to term insurance, being a senior, you can outlive burial insurance with no waiting period. It means your coverage does not cancel as long as you pay the premiums.

  • Medical Exam for Insurance with No Waiting Period 

The insurance companies that offer you no-wait burial insurance plans only check your medical records and prescription history to determine whether you’re eligible or not. It means no invasive medical exams. You do not need to put blood or urine into a container.

  • Who Can Apply for This Burial Policy?

Burial insurance without any waiting period can work best for you if you experience terminal ailments, permanent disability, chronic diseases, cancer, or if you do not want to undergo a medical exam.

  • You Get an Instant Peace of Mind

Nobody knows when the unavoidable will come, and it is better to be safe than sorry. In the contemporary age, peace of mind is worth much more than you may realize. Once you get burial insurance without any waiting time, you do not need to worry.
Hence, you should look for a burial insurance plan with no waiting period and know for sure that your loved ones will not be left fighting expensive funeral costs during such a challenging time. 
To sum up, since you know you have a possibility of getting burial insurance with no waiting period, you should try it out. Who doesn’t want to get an insurance policy without any waiting time?

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button