Okuzeka
Insurance vocabulary · Life & Health Insurance

Waiting period

Meaning in insurance, with examples

nounCommon term

In insurance, waiting period means: A set time after a policy starts during which some benefits cannot yet be claimed, common in health and life insurance.

In Turkish: bekleme süresi

How it is used

Explained in health policies for things like childbirth, planned surgery or certain illnesses. A waiting period applies, ends, or is waived in some group schemes. Customers often confuse it with the grace period.

Example sentences

  1. There is a 12-month waiting period for maternity cover under this plan.

  2. Because of the waiting period, the policy won't cover the knee surgery until next spring.

Common collocations

  • waiting period applies
  • 12-month waiting period
  • waive the waiting period
  • waiting period for maternity
  • health insuranceInsurance that pays for medical costs such as doctor visits, tests, hospital stays and surgery, up to the limits in the policy.
  • pre-existing conditionA health problem that a person already had, or had symptoms of, before their health or life insurance started.
  • grace periodExtra time after a premium is due during which the customer can still pay and the policy stays in force.
  • exclusionA situation, cause or type of loss that a policy clearly says it does not cover.

More terms: Life & Health Insurance

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This page explains English vocabulary for learners. It is not financial advice.