What is the waiting period?
The waiting period is when the insurer can contest a claim or cancel the policy for the policyholder’s misrepresentation or non-disclosure of health information. This period typically ranges from six months to one year, starting when the policy becomes effective. It’s important to note that during the waiting period, the insurer may conduct a thorough investigation to ensure that all information the policyholder provides is accurate and truthful.How To Avoid The Waiting Period
It’s impossible to avoid the waiting period in life insurance completely, as it’s a standard practice in the insurance industry to protect insurers from adverse selection. However, there are a few things you can do to shorten or eliminate the waiting period potentially:- Get a medical exam
- Maintain good health
- alternative coverage
- Choose a policy with no waiting period