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Deferred Period

In the case of insurance such as, permanent health insurance otherwise know as Income protection insurance, this is the period between when your incapacity starts to when a claim can commence.

The deferred periods on these plans should be set to coincide with the your employers sick benefits package, for example of your employer pays you for a period of 6 months then it is most cost effective to set the deferred period on the plan to 6 months also. This is because the insurer will not honour a claim while you are in receipt of payments from elsewhere.

  
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