Types of Final Expense Coverage

Does Final Expense Provide Immediate Coverage?

Yes, in many cases, Final Expense insurance offers immediate coverage. Thanks to the variety of trusted insurance carriers we work with, most of our customers qualify for immediate coverage, even if other providers have told them they'd face a 2-year waiting period. We always prioritize recommending policies that provide immediate coverage when possible, ensuring you get the protection you need without unnecessary delays.

However, eligibility for immediate coverage depends on your health status and the carrier's requirements. While there is no medical exam required for Final Expense policies, you will need to answer a few basic health questions and give consent for the insurer to electronically check your medication history. This helps determine if you medically qualify for immediate coverage.

Since different insurance carriers have varying standards and qualifications, your ability to obtain immediate coverage may differ from one provider to another. For example, while one carrier may approve coverage for someone with COPD, another may not. This is why we work with over 15 top-rated carriers, each offering different policies that may better suit your unique health circumstances.

When Is Immediate Coverage Not Available?

Unfortunately, certain high-risk health conditions require a waiting period with all carriers, regardless of which insurer you choose. If you have a condition that may result in a waiting period, it's important to fully understand the details of that waiting period, as the terms can vary.

Below is a simple table outlining the three main types of Final Expense coverage. Immediate coverage is always preferred, but if you do not qualify for it, we may still be able to offer you an affordable policy with a waiting period.

Coverage Туре	Description	Eligibility
Immediate Coverage	Coverage starts immediately upon approval. No waiting period.	Must meet the health qualifications based on the carrier's guidelines.
Graded Coverage	Coverage starts immediately for some benefits, but the full benefit may be limited during the first 2 years.	Available for those with moderate health concerns.
Modified Coverage	A waiting period is required, typically 2 years, before full benefits are paid.	For high-risk health conditions that require extra time to qualify.

Choosing the Right Coverage for You

If immediate coverage is not an option, don’t worry – we can still help you find an affordable policy. We will work with you to select the best carrier based on your health and coverage preferences. If you would like to learn more about these options and how they might apply to your situation, we’ve prepared a detailed explanation here. Feel free to reach out with any questions, and our team will assist you in finding the best solution.

	Immediate or "Level" Death Benefit	Graded or "Modified" Death Benefit	Guaranteed Issue
Guaranteed Acceptance	No	No	Yes
Medical Exam	No	No	No
Health Questions	Yes	Yes	No
Typical Coverage Timeline	Immediate coverage for death of any reason.	Natural Causes: Year 1: 30% coverage Year 2: 70% coverage Years 3+: Full coverage or Years 1-2: Return of premiums paid +10%. Immediate coverage for accidental death may be available.	Years 1-2: Return of premiums paid +10%, immediate coverage for accidental death may be available.
Does this typical timeline vary from carrier to carrier?	No, immediate coverage means immediate coverage!	Yes, it can vary greatly. Confirm with your agent and read your policy.	Yes, but typically with little variation.
Pricing	Typically most affordable.	Can vary from most affordable to most expensive.	Typically most expensive.