What is a waiting period and which one should I choose?

The waiting period is the gap between disablement and your first monthly payment. It is the deductible portion of an IP claim, and the longer you choose, the lower the premium.

Panel insurers offer waiting periods from 14 days at the short end to 2 years at the long end. Most retail policies sold sit at 30, 60, or 90 days. You serve the waiting period using sick leave, savings, employer disability schemes, or any other resource that bridges the gap.

Waiting period options across the panel

See AIA Priority Protection PDS (Version 32, 9 November 2025), waiting period section; Zurich Wealth Protection PDS (1 November 2025), Income protection section; TAL Accelerated Protection PDS (12 December 2024), Section 2.6.1; Acenda Insurance PDS (27 September 2025); Futura Protection PDS (1 October 2025).

How the choice affects premium and claim

A shorter waiting period (14 or 30 days) is paid for in higher premiums but pays out earlier. A 90-day or longer waiting period is the standard cost-saver because most short-term claims (under three months) fall away. The two-year option is the cheapest, and it is the option most often paired with retail IP that sits behind employer salary continuance or substantial sick-leave buffers.

Common considerations when choosing

• Sick-leave entitlement: If you accrue 10 to 20 paid sick days per year and have a partner's income, a 30-day waiting period might fit.
• Liquid savings: With 3 to 6 months of expenses saved, a 60- or 90-day wait reduces premium materially.
• Self-employed: No sick leave means a shorter wait (14 to 30 days) often makes sense, even at higher premium.
• Group cover behind retail: If you have employer-provided salary continuance for the first 90 days, pairing it with a 90-day or 2-year retail wait avoids paying twice for the same window.

Consecutive versus aggregate

A consecutive waiting period requires unbroken disability. Return to work for one day during a 30-day consecutive wait and the clock restarts. An aggregate waiting period totals up qualifying days within a defined window (often 60 or 90 days) and is more forgiving for conditions with flare-ups. Most modern panel PDSs default to or offer aggregate. See TAL Accelerated Protection PDS Section 2.6 and the consecutive-versus-aggregate FAQ for the structural distinction.

Waiting periods on life cover are a different question

The waiting period described here is an income protection concept: the gap between disablement and the first monthly payment. Life cover does not have a waiting period in that sense. A death claim responds from the policy start date, subject to the 13-month suicide exclusion that all nine panel insurers apply. If you arrived here looking for life insurance, the life insurance waiting period FAQ covers what does and does not apply.