Probably the first thing you would want to know is what exactly is burial insurance with no waiting period. Burial insurance without a waiting period is a certain insurance policy that will pay for the complete death benefit beginning from the 1st day itself. Even if you have made just a single payment on your burial insurance policy, your beneficiary will collect the full 100 percent of the death benefit. There happen to be several final expense organizations that offer burial insurance coverage like this without any waiting period.
The truly best part is that most of the folks who seek burial insurance can easily qualify for an insurance policy that genuinely has no waiting period!
Your health issues are the most critical element determining if you qualify for a burial insurance policy with no waiting period.
There is no denying that the surest and safest path to immediate burial insurance coverage is to find an insurance company that does not probe into any of your health-related conditions on their official application form that you have to fill up. Since they do not inquire about any of your health conditions or problems, it means that they are fine with whatever issues you have and translates into no waiting period.
You must realize that without any waiting period, the insurance organization is taking on many risks. Keep in mind that they have to pay the full 100 percent of your benefit (death) even if you just had your burial insurance policy for a single day.
For an insurance organization to be fine with taking a huge immediate risk, they have to know that you are not going to kick the bucket right away (statistically speaking, of course!).
Hence, if you have certain health issues, the best you can get is a partial waiting period on your insurance policy. Some of these issues include amputation owing to diabetes and congestive heart failure.
Be Wary of the Red Flags!
There is no doubt that most individuals can qualify from the first day for their burial insurance without any waiting period.
That said, there happens to be a couple of proverbial red flags in the application part, which lists all the health questions. Answering “yes” to some of these questions can prevent a person from becoming eligible for immediate burial insurance coverage. While most serious health issues do not prevent burial insurance coverage from day one without a waiting period, few health conditions do not qualify. Some common examples of these health conditions are being on dialysis, existing cancer treatment, or being diagnosed with Alzheimer’s.
If you happen to have one of these health conditions that prevent you from acquiring burial insurance without any waiting period, please reach out to us. We might still be able to assist you with your burial insurance requirements.