Burial Insurance With No Waiting Period

Written by Kim Wilhelm

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Last Updated 01 Mar 2024

Are you looking for life insurance coverage that provides immediate protection without a waiting period? If so, you'll be pleased to know that life and burial insurance with no waiting period is available from multiple providers. 

At Final Expense Direct, we understand that choosing the right life insurance policy can be overwhelming, which is why we are committed to providing transparency and editorial standards to help you make informed decisions. 


As a licensed insurance agency, we partner with the best life insurance companies offering this type of coverage and can help you qualify for immediate protection. 

ARTICLE TABLE OF CONTENTS (Skip to section)

How Does Burial Insurance With No Waiting Period Work?

Burial insurance, also known as final expense insurance, is a type of life insurance policy that is specifically designed to cover the costs associated with a person's funeral or burial.

It typically provides a smaller death benefit compared to traditional life insurance policies, with face amounts ranging from a few thousand dollars up to $50,000 or more. 

The policy pays out a lump sum of money to the beneficiary when the policyholder passes away, which can be used to cover funeral expenses, outstanding debts, or any other final expenses.

Burial insurance is often marketed to seniors or those with health issues who may have difficulty qualifying for traditional life insurance policies. It can provide peace of mind for both the policyholder and their loved ones, ensuring that final expenses are covered and relieving financial burdens during a difficult time.

Burial insurance with no waiting period is a type of life insurance policy that pays out the full death benefit as soon as the first premium payment is made, without any waiting period.

This means that even if the policyholder passes away during the first two years, the beneficiaries will still receive the entire death benefit. The policy covers both natural and accidental causes of death. 

One of the benefits of this type of policy is that you do not need to be in good health to qualify for immediate coverage. 

Despite any past health issues, most people can still qualify for a "first-day coverage" plan that provides coverage for natural and accidental death.

It's a matter of searching and finding a life insurance company that will accept all of your health conditions and offer immediate coverage.

With the right coverage, you can ensure that your final expenses and other costs are covered, providing peace of mind for you and your loved ones.

While several life insurance companies offer this option to individuals with medical conditions, it's important to note that finding a company that offers a plan with no waiting period can be challenging.

Working with an independent life insurance agent is often the best way to find a policy that meets your specific needs and qualifications.

What Are the Benefits of Burial Insurance with No Waiting Period?

When a burial insurance policy doesn't have a waiting period attached, it provides immediate coverage for end-of-life costs and funeral expenses. Traditional life insurance policies may require a waiting period of several months before paying out benefits. 

The benefit of having burial insurance with no waiting period is the peace of mind it provides to both the policyholder and their loved ones.

Knowing that financial assistance will be immediately available to cover funeral expenses and other end-of-life costs can alleviate the stress and burden of worrying about how to pay for these expenses. 

This type of insurance policy is especially beneficial for seniors or those with pre-existing health conditions who may not be able to qualify for traditional life insurance. 

Additionally, burial insurance policies with no waiting period typically have lower coverage, making them a more affordable option for those on a tight budget.

However, it is important to review the policy carefully to ensure that it meets your specific needs and provides sufficient coverage for your expenses.

Qualifying for No Waiting Period Final Expense Insurance

Qualifying for no waiting burial insurance depends on the insurance provider and their specific underwriting guidelines.

Generally, these policies are designed for individuals who may have difficulty qualifying for traditional life insurance due to pre-existing health conditions or other factors.

You will need to apply to a company that approves policyholders based on a health questionnaire. A medical exam is not required. 

It's important to work with a licensed insurance agent who can help you navigate the application process and find the best policy that fits your needs and budget.

Bear in mind that no health questions life insurance plans come with a lengthy two to three-year waiting period (with the exception of accidental death insurance).

What Are Partial Waiting Periods or Graded Plans?

Partial waiting period life insurance plans, also known as "graded plans," offer coverage for a portion of the death benefit during the first two years, with payouts typically ranging from 30%-40% during the first 12 months and 50%-75% during months 13-24.

The payout amounts vary by company, and the plans come with a higher premium payment due to the higher risk category.

Partial coverage plans require applicants to answer health questions, but they do not require a medical exam.

Although they are not immediate benefit policies, they can be an option for those who do not qualify for no waiting period burial insurance.

Burial Insurance vs. Life Insurance

Life insurance, burial insurance, and funeral insurance are all important types of insurance policies that offer financial protection to policyholders and their beneficiaries. While they share some similarities, there are also significant differences between them.

Life insurance is a broad category that includes several different types of insurance policies, such as term, whole, variable, and annuity. The purpose of life insurance is to provide financial security to beneficiaries in the event of the policyholder's death, helping to settle outstanding debts and provide for their family's needs. Life insurance policies can range from small coverage amounts to policies in the millions of dollars and can pay out in lump sums or monthly amounts. Depending on the type of insurance and the amount of coverage, benefits can be delayed, and policies may expire before the policyholder's death.

Burial insurance, also known as final expense insurance or funeral insurance, is a specific type of life insurance meant to cover a person's funeral costs when they pass.

Burial insurance policies offer smaller benefit amounts than traditional life insurance policies, usually not exceeding $50,000, and pay out a lump sum almost immediately upon the policyholder's death. One key difference between funeral insurance policies and other types of life insurance is the underwriting process.

Funeral insurance policies are designed to accept applicants with pre-existing health conditions that may prevent them from qualifying for term life insurance or universal life.

Even individuals with high-risk conditions can still be eligible for a plan with no waiting period, making it an attractive option for those with health issues. Burial insurance policies typically do not require a medical exam, and coverage is issued based on the policyholder's answers to health questions on the application.

The policy remains in effect until the policyholder's death, as long as premiums are paid, and usually accumulates cash value.

Funeral insurance policies differ from other types of life insurance in terms of the coverage amounts offered.

While most life insurance policies offer coverage in the hundreds of thousands or even millions of dollars, funeral insurance policies can offer as little as $1,000 or $5,000 in coverage.

This minimal amount of coverage is typically enough to cover the costs associated with a funeral and other end-of-life expenses, making it a practical option for those on a tight budget.

Checks are usually disbursed quickly, within 24-48 hours once claims are approved, providing quick financial relief for the beneficiaries.

It's important to note that burial insurance is not meant to replace income or cover large expenses like purchasing a home or paying for college.

Its primary purpose is to cover funeral costs, but beneficiaries can also use it for any end-of-life expenses like unpaid medical bills, outstanding credit card debt, or various bills accrued in the month of the policyholder's passing.

Health Issues That Always Require a Waiting Period

Certain medical conditions always require a waiting period and are not eligible for immediate or partial coverage. Unfortunately, individuals that suffer from the following conditions will be subject to a two-year waiting period, including individuals that have:

  • received a recommendation to have an organ or bone marrow transplant

  • are currently in a hospital, nursing home, or skilled nursing facility

  • receiving hospice care

  • A terminal illness (with a life expectancy of 24 months or less)

  • AIDS or HIV

  • Alzheimer's or dementia

  • suffered from cancer within the last 12 months

  • suffered a stroke within the last 12 months (TIA mini-strokes do not count)

  • suffered a heart attack within the last 12 months

  • had heart surgery within the last 12 months

  • had circulatory surgery within the last 12 months

  • are undergoing dialysis

  • suffered from insulin shock, diabetes-related amputation, or diabetic coma within the last 24 months

  • kidney disease from diabetes (nephropathy)

  • require oxygen to assist with breathing (except for sleep apnea)

  • wheelchair usage due to an illness or disease.

The list is not exhaustive, and other conditions may apply. Most chronic conditions are insurable, but it's worth discussing any medical conditions in confidence with an experienced and licensed agent who will be able to advise whether or not you are eligible for first-day or partial coverage. 

What Are Guaranteed Acceptance Life Insurance Policies?

Guaranteed-issue life insurance policies do not require medical exams or questions about health or lifestyle. The policy is guaranteed acceptance, but there is a mandatory two-year waiting period. If the insured person dies within that time, their beneficiaries will only receive the premiums paid plus interest. 

The policy also pays out the full coverage amount in case of accidental death during the waiting period. These policies are typically whole-life policies, but there are some term policies available with a waiting period and increasing rates every five years, expiring at age 75.

Guaranteed Acceptance Life Insurance policies offer good coverage but at a higher rate and lower coverage than traditionally underwritten life insurance plans.

While guaranteed acceptance life insurance has no medical exam and no health questions, there is usually an age range for qualifying applicants, typically for seniors aged between 50 and 80. 

Many guaranteed issue life insurance policies are capped and are ideal for people without dependents but looking to cover final expenses. It's recommended for people with serious health conditions, those confined to bed or a nursing home, and those who are cognitively impaired or diagnosed with a terminal illness. 

People without serious health conditions should apply for simplified issue life insurance first.

This type of policy is cheaper and doesn't require a medical exam but has health questions on the application. If denied, guaranteed acceptance life insurance is an option.

It's always best to discuss your options with a licensed agent to ensure you apply to the best possible policy and insurer based on personal circumstances. 

While there are several online ads claiming that they sell guaranteed acceptance policies without a waiting period, these are considered fraudulent and unscrupulous.

All guaranteed issue life insurance policies have a waiting period of two to three years, and there is no such thing as a policy with no health questions and no waiting period.

Companies that advertise such policies are not truthful and are only interested in collecting their fee. 

It's also worth clarifying that no-exam life insurance policies are not equivalent to those without health questions. 


Insurance policies that advertise "no medical exam to qualify" are not guaranteed acceptance. 


No medical exam life insurance policies still require applicants to answer health questions that affect their eligibility. In contrast, guaranteed acceptance policies with no health questions do not require applicants to answer questions or take an exam, and individuals cannot be denied coverage. Insurance marketing can be confusing, leading shoppers to confuse the two terms.

Tips For First-Day Coverage

You can increase the chances of finding a senior life insurance plan that covers you within the first two years when you work with an independent insurance broker who partners with multiple insurance companies. 

This approach allows companies like ours to compare policies from various insurers and find one that accepts all your health issues, thus ensuring immediate coverage.

Dealing with captive agents or insurers directly can limit your options, as they typically represent only one insurer and are not allowed to investigate multiple companies on your behalf. If the one company they represent doesn't approve your application, you may be left with no other options.

The Best No Waiting Period Burial Insurance Companies

We work with a number of insurers that offer no waiting period burial insurance, including:

AIG (Now Named Corebridge Financial)

SimpliNow Legacy Max offers a first-day coverage plan with a coverage amount of $5,000 to $35,000, with no medical exam required and fixed pricing that never increases.

It is a permanent whole-life insurance policy that lasts until the age of 121 and builds cash value that you can borrow against. The policy offers coverage that never decreases and is accompanied by available riders, such as nursing home confinement, terminal illness, and an accidental death benefit rider.

SimpliNow Legacy Max also offers a limited-pay feature, which allows you not to pay your premium if you reach the maximum payment age between 90 and 95. The maximum payment age is determined by gender, age, and face amount.

AIG offers two life insurance plans with a 2-year waiting period: the SimpliNow Legacy Graded Benefit Plan and the Guaranteed Issue Whole Life Insurance.

The SimpliNow plan has fixed pricing and a coverage amount of $5,000 to $25,000, but applicants must answer health questions and will be forced into this plan if they answer "yes" to select questions. The plan provides 100% death benefit for accidental deaths and 110% of premiums paid for deaths related to natural or medical causes during the first two years. 

The Guaranteed Issue Whole Life Insurance has no medical exam or health questions and offers riders for chronic and terminal illnesses.

However, it also has a 2-year waiting period and limited death benefit in the first two years, with only 110% of premiums paid if the policyholder dies from natural or medical causes and no coverage for suicide, so it's important to take that into consideration. 

Great Western Insurance Company Logo

Great Assurance is a simplified issue plan that offers first-day coverage without requiring a medical exam.

Applicants only need to answer three health questions and must respond "NO" to all of them to qualify. The plan pays 100% of the death benefit upon the policyholder's passing, with no waiting period. Additionally, the death benefit can increase by 120%, meaning that if someone bought $10,000 coverage, their death benefit would be $12,000 upon their passing.

Great Assurance provides a straightforward way for individuals to obtain life insurance coverage without the need for extensive medical examinations or long waiting periods.

There are other plans to consider as well.

The SimpliNow Legacy Graded Benefit Plan has a 2-year waiting period and requires individuals to answer health questions. The policy provides permanent whole-life insurance that builds cash value, fixed pricing, and coverage that never decreases.

The death benefit is 100% for accidental death and 110% for natural or medical-related death within the first two years.

The Graded Benefit Plan is for people who do not qualify for the Great Assurance plan due to health issues.

The death benefit is phased-in, with the beneficiary receiving 30% of the death benefit in the first year, 70% in the second year, and 100% in the third year. The plan offers no medical exam, fixed pricing, and builds cash value that accumulates over time. 

The Guaranteed Assurance plan has a two-year waiting period. The death benefit is 110% of the premiums paid if death occurs due to natural causes within the first two years. 


After the waiting period, the death benefit is 100% for both accidental and natural causes. The plan offers no medical exam, fixed pricing, and builds cash value over time.
The Baltimore Life Companies Logo

The Baltimore Life Companies' Silver Guard burial insurance plan offers simplified whole life insurance coverage with no medical exam required and only a few health questions as part of the application process.

The plan guarantees never to expire and has fixed premiums, and the coverage will never decrease. The plan also includes cash value accumulation and is assignable to a funeral home. 

Silver Guard I offers a guaranteed level death benefit with a maximum face amount of $25,000 for ages 50-75 and $15,000 for ages 76-80.

The policy includes an accidental death benefit rider, and applicants can choose between lifetime payments or 10-pay.

The plan has more liberal underwriting, accepting conditions such as diabetes, heart attacks, stent implants, cancer diagnosis and treatment, and COPD or chronic lung disease over a specific time period.

The plan pays 100% of the death benefit from the first day of policy issue and includes a $1,000 cash draft benefit for the beneficiary to withdraw immediately after the insured's death.

If that doesn't appeal, the Silver Guard II plan offers a guaranteed graded death benefit with face amounts ranging from $2,500 to $15,000. If the insured person dies from an accident, the company will pay 100% of the face amount in all years. 


However, if death occurs due to natural causes, the benefit schedule is as follows: 30% of the face amount in the first year, 70% of the face amount in the second year, and 100% of the face amount in the third year. 


The plan accepts individuals with certain health conditions, such as insulin-dependent diabetes, heart attack or stent/pacemaker implant under one year, atrial fibrillation, arrhythmias, congestive heart failure, COPD or chronic lung disease under three years, cancer over one year but not two years, Parkinson's disease, bipolar disorder or schizophrenia, depending on the medication. 


There is no medical exam required to apply for this plan, and the premium never increases.
Liberty Bankers Insurance Group Logo

Liberty Bankers Life offers three types of life insurance plans that we can consider: SIMPL Preferred, SIMPL Standard, and Modified Whole Life. Two have no waiting periods. 

SIMPL Preferred is the most affordable plan, designed for individuals in good to average health.

To qualify for this plan, you must answer "no" to all health questions on the application. The plan offers first-day coverage with no waiting period, and it includes a unique feature called the children's benefit rider or the grandchild rider.

SIMPL Standard is the second-tier plan designed for people with minor health issues.

This plan also offers first-day coverage with no waiting period, and underwriting is more relaxed than other companies.

Many health conditions accepted for the SIMPL Standard would have a two-year waiting period with other companies.

Modified Whole Life (MWL) is designed for people with major health issues, and it comes with a three-year waiting period.

This plan has a graded death benefit that works in the following way: during the first three years of the policy, 100% of the death benefit is paid for accidental deaths only.

A 100% refund of premiums and 10% interest is paid for the natural cause of death during the first three years of the policy.

In the fourth year, the death benefit is paid 100% for accidental and natural causes of death. In the fifth year, the death benefit is 105% for accidental and natural causes, and in the sixth year and beyond, the death benefit payout will be 110% for accidental and natural causes of death. The increasing death benefit amount is the unique feature of this plan.

MWL is the most expensive plan because of the health issues it covers, and it is not available in all states.

We believe that a guaranteed issue policy is a better option than the graded plan, as it only has a two-year waiting period and no health questions on the application.

Overall, SIMPL Preferred and SIMPL Standard are ideal for people with good to average health, while the Modified Whole Life plan is intended for people with major health issues


It is important to carefully consider each plan's features and cost before making a decision on which one to choose.

Mutual of Omaha offers a burial insurance plan called the Living Promise plan, which has a level death benefit that can be used for final expenses, basic life insurance needs, cremation, or burial.

The Level Death Benefit plan has first-day coverage, and the underwriting is lenient.

However, their Graded Benefit plan has a two-year waiting period. The plan is competitively priced, and those with minor health issues like high blood pressure, high cholesterol, arthritis, and diabetes can still qualify for the Level Death Benefit plan.

Mutual of Omaha also offers an optional Accelerated Death Benefit rider for terminal illness or nursing home confinement and an Accidental Death Benefit Rider, which doubles the death benefit value if the insured dies from an accident.

Prosperity Life Group Logo

Prosperity Life Insurance offers a New Vista Final Expense no medical exam insurance policy, providing full coverage from the first day for people aged 50-80.

The company also offers two other burial insurance plans, the Golden Promise graded benefit plan and the modified benefit plan, with higher premiums and waiting periods.

While Prosperity's level benefit plan offers immediate coverage, it may not be the best option for those who qualify for their graded or modified plans. Smokers can save 30-40% on their premiums by using tobacco or nicotine products instead of cigarettes. 

The company's policies are simplified and issue whole life insurance designed to cover end-of-life expenses.

The New Vista policy is available in 49 states, while the Golden Promise is only available in New York. Prosperity's underwriting is semi-lenient compared to other insurance companies, and many medical conditions qualify for first-day coverage. 

Their policies offer lifetime coverage, build cash value, and have level premiums that never increase.

Face amounts range from $1,500 to $35,000, and they last until age 121. Prosperity Life has no optional riders, but it includes an Accelerated Death Benefit Rider at no extra cost.

This rider allows policyholders diagnosed with a terminal illness to access 25-50% of their face amount while they are still alive, with the accelerated amount considered a policy loan deducted from the total death benefit upon death.

Conclusion

Burial insurance with no waiting period can provide peace of mind and financial security for both you and your loved ones. With a variety of policies available, it's important to carefully consider your options and choose a plan that fits your specific needs and budget.

At Final Expense Direct, our agents are dedicated to helping you find the best burial insurance policy for your unique situation. Contact us today to learn more about your options and get started on securing your family's future. Don't wait; take the first step towards peace of mind today.

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