Is there a waiting period for term insurance?

Yes, most term insurance policies have a waiting period, which is the time from the start of the policy to when the full benefits are available. The waiting period is typically applicable to cases of suicide, where claims are generally not paid if the suicide occurs within the first year or two of the policy, depending on the terms of the policy.

Waiting period varies with insurance companies and their plans, which are covered in plan details for every plan.