It means that your full life insurance coverage starts form the first day you are insured by the insurance company.
Most life insurance policy provide you with 100% death benefit coverage from the first day you are insured by your policy.
However, guaranteed approved life insurance usually comes with a graded death benefit the first 2 years you are insured.
That's how they can accept people with a health problem, and guaranteed your approval for coverage if you meet the age requirements for acceptance.
Learn more about life insurance with no waiting period.