Waiting period
等候期
A waiting period is a stretch of time after the policy starts when an event, or an illness diagnosed in it, is usually not paid. It is there to stop people buying cover only when they already know they need it. The period for accidents and for illness can differ, so go by the policy.
Example
Suppose the waiting period for illness is 30 days, counted from the day the policy starts.
- Waiting period
- 30 days
- Diagnosed on day 10
- Inside the waiting period, usually not paid
- Diagnosed on day 40
- Waiting period over, claim under the policy terms
The same illness diagnosed 30 days apart can get completely different outcomes.
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