A waiting period for life insurance can be one of two things:
- The period of time before your life insurance coverage begins.
- The period of time before you have 100% full death benefit protection.
Usually, a life insurance policy begins coverage once you have applied for your policy, been approved by the insurer, and paid your first premium payment.
However, you may or may not have full death benefit coverage from day one of your life insurance policy being In Force.
Traditional life insurance plans provide full coverage from day one.
However, guaranteed issue graded death benefit life insurance plans usually do not provide full death benefit coverage until you have been insured for at least two years.
Learn more about a waiting period for life insurance coverage.
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