By OLPolicy | Licensed Insurance Specialists | (866) 757-5350
If you’ve been shopping for final expense insurance, you’ve probably come across two types of policies: ones with a waiting period and ones without. And if you’re like most people, your first question is a very reasonable one – “Can I just get the one that covers me immediately?”
The answer is yes – but only if you qualify. And that’s exactly what this Final Expense Insurance No Waiting Period Guide is here to explain.
We’re going to walk you through everything you need to know about getting coverage without waiting periods: what it means, who qualifies, which health conditions allow it, how to compare policies and how OLPolicy finds the best no-wait coverage for seniors across the country. By the end of this guide, you’ll understand exactly whether you can skip the waiting period and which companies offer the fastest path to full protection.
| 💡 Quick Answer
A ‘no waiting period’ final expense policy – also called a level benefit policy – covers you from the very first day. If you pass away one week after your policy starts, your family receives the full death benefit. You qualify for this type of coverage by answering a short set of health questions honestly. Most seniors in reasonably good health – including many with common conditions like diabetes or high blood pressure – qualify. |
In the world of final expense insurance, a waiting period is a window of time – usually two years – during which the full death benefit is not yet available. If the insured passes away from natural causes during this period, the family receives a refund of premiums paid plus interest, not the full payout.
A no-waiting-period policy eliminates that window entirely. Your coverage is active and your full death benefit is in force from the moment your first premium clears. There is no delay, no partial benefit and no fine print that limits your family’s payout in the early months.
In the insurance industry, this type of policy is officially called a level benefit policy – because the death benefit stays level (the same amount) from day one.
| With a Waiting Period (Graded Benefit) | No Waiting Period (Level Benefit) |
| Full benefit not available for first 2 years | Full benefit available from Day 1 |
| Natural death in Year 1 = premium refund + interest | Death at any time = full death benefit paid |
| Accidental death usually covered immediately | All causes of death covered immediately |
| Available to applicants with more serious health issues | Requires passing simplified health questions |
| Higher monthly premiums relative to benefit | Lower monthly premiums – better value |
| No medical exam required | No medical exam required |
Here’s the thing most people don’t realize: qualifying for a no-waiting-period policy doesn’t mean you have to be perfectly healthy. Far from it.
The qualification process for final expense insurance is called simplified underwriting. That means no medical exam, no blood draw, no doctor visits – just a short list of health questions on your application. If you can honestly answer “no” to the serious health disqualifiers, you qualify for level benefit (no-wait) coverage.
The specific questions vary by carrier, but they generally focus on whether you have or have recently had:
| ✅ Good News for Most Seniors
If your health conditions are not on that serious list, you very likely qualify for a no-waiting-period policy. Managed diabetes, high blood pressure, high cholesterol, past surgeries, GERD, arthritis, mild COPD and most common senior health conditions do NOT automatically disqualify you. Call OLPolicy at (866) 757-5350 and we’ll check your eligibility in minutes. |
This is the chart most insurance websites won’t give you – a straight answer on which conditions land where. Keep in mind that every carrier has slightly different underwriting guidelines, which is exactly why working with an independent agency like OLPolicy (which compares multiple carriers) gives you a major advantage.
| Health Condition | Level Benefit | Graded Benefit | Guaranteed Issue | Best Carrier Type |
| No major health issues | ✅ Qualifies | ✅ Qualifies | ✅ Qualifies | Level Benefit – lowest cost |
| Well-controlled diabetes (Type 2) | ✅ Most carriers | ✅ Qualifies | ✅ Qualifies | Level Benefit – shop around |
| COPD / chronic lung disease | ❌ Most carriers | ✅ Qualifies | ✅ Qualifies | Graded Benefit |
| Heart attack (2+ years ago) | ⚠️ Some carriers | ✅ Qualifies | ✅ Qualifies | Graded or Level – depends |
| Active cancer treatment | ❌ All carriers | ❌ Most | ✅ Qualifies | Guaranteed Issue |
| Recent stroke (within 2 years) | ❌ All carriers | ⚠️ Some | ✅ Qualifies | Guaranteed Issue |
| Currently hospitalized / in hospice | ❌ | ❌ | ❌ | Not currently insurable |
| ⚠️ Don’t Self-Disqualify Before Talking to an Agent
One of the most common things we hear at OLPolicy is: ‘I assumed I couldn’t get the no-wait policy because of my health.’ In many cases, that assumption is wrong. Carriers weigh conditions differently and a condition that disqualifies you at one carrier may be perfectly acceptable at another. Never assume – always ask. |
When you shop for final expense insurance, you’ll encounter three main policy types. Understanding these helps you know exactly what you’re buying and what your family will or won’t receive.
This is the gold standard. You answer the health questions, qualify and your full coverage kicks in immediately. Whether you pass away in two weeks or twenty years, your beneficiary receives 100% of the death benefit.
A graded benefit policy is for applicants who don’t qualify for level benefit due to more serious health conditions. During the first two years, if death is from natural causes, the family receives premiums paid back plus interest (typically 10% per year). After two years, the full benefit pays for any cause of death.
No health questions. No possibility of rejection. Guaranteed issue policies accept every applicant between the qualifying age range (usually 50–80 or 45–85 depending on the carrier). The trade-off is higher premiums, lower maximum benefit amounts and a 2-year waiting period.
| 💡 OLPolicy Recommendation
Always try to qualify for level benefit coverage first. It gives you the most protection at the lowest cost. If you don’t qualify, we’ll find the best graded benefit policy available. Guaranteed issue is the last resort – but it’s still a real option that protects your family. |
Getting covered with a no-waiting-period policy is simpler and faster than most people expect. Here’s exactly how the process works when you work with OLPolicy.
| 1 | Call OLPolicy or Start a Quote
Reach us at (866) 757-5350 or start your quote online. Our licensed specialist will ask you a few basic questions about your age, state of residence and the coverage amount you’re looking for. |
| 2 | We Review Your Health History
We’ll ask you the same simplified health questions the carriers ask – but in plain language, without the confusing insurance terminology. This helps us immediately identify which carriers and which policy types you qualify for. |
| 3 | We Compare Rates Across Multiple Carriers
Because OLPolicy is an independent agency, we work with multiple top-rated insurance carriers. We compare your options side by side and show you which no-wait policies give you the best coverage at the lowest monthly premium. |
| 4 | You Apply – No Medical Exam Required
Once you choose a policy, the application is fast and straightforward. No doctor visits, no blood draws, no waiting for lab results. Many applications are submitted and approved electronically within the same day. |
| 5 | You’re Covered From Day One
Once your application is approved and your first premium is processed, your policy is active. Your beneficiary is protected starting that same day – no waiting, no delays, no exclusions for the first few months. |
Cost is one of the first things seniors ask about and rightfully so. The good news is that level benefit (no-wait) final expense policies are specifically designed to be affordable on a fixed income.
Here are realistic monthly premium estimates for level benefit coverage. These are for non-tobacco applicants in average health. Smokers and applicants with some health conditions may pay slightly more.
| Age | Gender | Coverage Amount | Est. Monthly Premium | Policy Type |
| 55 | Female | $10,000 | ~$22–$32/mo | Level (no wait) |
| 55 | Male | $10,000 | ~$28–$40/mo | Level (no wait) |
| 60 | Female | $15,000 | ~$38–$52/mo | Level (no wait) |
| 65 | Male | $15,000 | ~$58–$78/mo | Level (no wait) |
| 65 | Female | $20,000 | ~$55–$75/mo | Level (no wait) |
| 70 | Male | $10,000 | ~$52–$70/mo | Level (no wait) |
| 70 | Female | $15,000 | ~$60–$82/mo | Level (no wait) |
| 75 | Male | $10,000 | ~$72–$100/mo | Level (no wait) |
| 80 | Female | $10,000 | ~$80–$115/mo | Level (if qualifies) |
These are estimates only – your actual rate depends on your specific carrier, health answers and state of residence. The fastest way to get your real number is a free quote from OLPolicy at (866) 757-5350.
| Want a No-Waiting-Period Policy Today?
OLPolicy’s licensed specialists compare top-rated carriers in minutes and find the best no-wait policy your health qualifies for. 📞 Call OLPolicy Now: (866) 757-5350 |
Most of the time, yes. Type 2 diabetes that is managed with medication – without recent hospitalization or serious complications – is accepted for level benefit coverage by most major carriers. Type 1 diabetes with complications may require a graded benefit policy, but there are still options. The key is to let an independent agent shop multiple carriers for you, because underwriting guidelines vary significantly.
It depends on how long ago the event occurred and how your health has been since. Many carriers require a waiting period of 12 to 24 months after a cardiac event before offering level benefit coverage. If your heart attack was more than two years ago and you’re currently stable, there’s a solid chance you qualify for no-wait coverage. If it was more recent, a graded benefit policy may be the right fit for now.
If you have a serious health condition that disqualifies you from level benefit coverage, a graded benefit or guaranteed issue policy is still a meaningful protection for your family. A premium refund plus interest during the waiting period is still something – much better than nothing. Once the two-year window passes, you have full coverage for life.
No. One of the most important features of final expense insurance is that your premium is locked in for life at the rate you start with. Once you’re approved, your monthly payment never increases – even as you age or if your health changes after the policy is issued. This is a significant advantage for seniors on fixed incomes.
Most carriers offer level benefit (no-wait) policies to applicants up to age 80 or 85, depending on the company. Some carriers have age-specific rate tiers that make coverage more affordable at certain ages. If you’re in your late 70s or early 80s and still in decent health, it’s absolutely worth checking whether you qualify – don’t assume you’re too old.
Margaret has controlled Type 2 diabetes and takes medication for high blood pressure. She’d been putting off getting coverage because she assumed her health would disqualify her. When she called OLPolicy, she was surprised to learn she qualified for a level benefit policy with no waiting period – a $20,000 policy at $71/month, effective from day one.
James had a heart attack three years ago but has been healthy since – no medications, no restrictions from his doctor. His age and health history scared him away from applying. OLPolicy found him a $15,000 level benefit policy at $88/month with a carrier that specifically accepts cardiac history older than two years. Full coverage, no waiting period.
Carol has COPD and uses an inhaler daily. She’d been declined by two companies already and assumed she was out of options. While she didn’t qualify for level benefit coverage due to her COPD, OLPolicy found her a graded benefit policy at $65/month for $10,000. After two years, her family will have full protection and in the meantime, any accident would still be covered on day one.
| ❌ MYTH: You need perfect health to get a no-wait policy.
✅ TRUTH: Simplified underwriting excludes only the most serious conditions. Millions of seniors with common health issues like diabetes, arthritis, high blood pressure and past surgeries qualify every year. |
| ❌ MYTH: All final expense insurance has a two-year waiting period.
✅ TRUTH: Only graded benefit and guaranteed issue policies have waiting periods. Level benefit policies provide immediate, full coverage from day one and that’s what OLPolicy aims to find for every client. |
| ❌ MYTH: The application process takes weeks and requires a doctor visit.
✅ TRUTH: Final expense insurance uses simplified underwriting – no medical exam, no blood tests, no physician approval required. Many applications are approved the same day they’re submitted. |
| ❌ MYTH: If I’ve been declined before, there’s no point in trying again.
✅ TRUTH: Different carriers have different underwriting guidelines. Being declined by one company doesn’t mean another won’t approve you – especially when an independent agent shops your profile across multiple carriers at once. |
Before you call or apply, here’s a quick checklist to make the process as smooth as possible:
| 📋 Before You Apply – Have This Ready
Your date of birth and state of residence | Your primary health conditions and current medications | Names and dates of any recent hospitalizations or surgeries | The name of your intended beneficiary | The coverage amount you’re looking for ($5K, $10K, $15K, $20K, $25K, or more) | Your preferred payment method (bank draft or credit card) |
Having this information ready before your call saves time and allows our specialists to give you a more accurate quote immediately.
It’s a level benefit whole life insurance policy where your full death benefit is active from day one. There is no delay in coverage for any cause of death – natural or accidental.
You qualify by honestly answering a short list of health questions – no medical exam required. The best way to find out is to call OLPolicy at (866) 757-5350 and we’ll walk through your health history in minutes.
With a graded benefit policy, your family receives a refund of all premiums you’ve paid plus interest – not the full death benefit. Accidental death is typically covered in full from day one even on these policies.
Yes – if your health improves or enough time passes after a disqualifying condition, you may be able to qualify for a level benefit policy and replace your existing coverage. An OLPolicy specialist can review your situation and guide you.
Yes. Your death benefit is locked in at the amount you chose when you applied – it never decreases over time and your premium never increases. What you agree to on day one is what your family receives.
Yes – OLPolicy is an independent agency, meaning we are not tied to any single insurance company. We compare rates and coverage options from multiple top-rated carriers to find the best no-wait policy for your specific situation.
Many applicants are approved and covered on the same day they apply. Once your application is submitted and your first premium is processed, your level benefit coverage begins immediately.
Your family’s protection shouldn’t come with a two-year asterisk attached to it. A no-waiting-period final expense policy gives your loved ones the full benefit from the very first day and for most seniors in reasonable health, it’s completely within reach.
The biggest mistake you can make is assuming you don’t qualify without checking. We’ve helped seniors with diabetes, heart conditions, high blood pressure and dozens of other conditions get level benefit coverage that starts on day one.
Don’t wait. The older you get, the higher your premiums and the harder it becomes to qualify for no-wait coverage. The best time to lock in your rate is today.
| Want a No-Waiting-Period Policy Today?
OLPolicy’s licensed specialists compare top-rated carriers in minutes and find the best no-wait policy your health qualifies for. 📞 Call OLPolicy Now: (866) 757-5350 |
OLPolicy | Licensed Insurance Agency | (866) 757-5350 | www.olpolicy.com
This article is for educational purposes only. Policy availability, health qualifications and premium rates vary by carrier and state. Speak with a licensed agent for advice specific to your health and coverage needs.
