Yes, there is a delay because of Alzheimer’s. The life insurance coverage “clock” starts the first day of the policy being issued. So it’s important to get the policy placed as soon as possible. Guaranteed life insurance has a built-in 2-year waiting period before the policy will pay 100% of the benefit due to illness. However, the policy will pay 100% of the benefit if death is caused by an accident during the first 2 years.
Don’t worry. If the passing from illness is within the first 2 years, then all of the premiums paid plus interest are sent to the beneficiary. So no money is wasted!