What is the waiting period for trauma insurance?

Trauma insurance policies typically include waiting periods before you can claim for certain conditions. The most common is a qualifying period of 90 days (approximately 3 months) from the date your policy is accepted, during which you cannot make claims for specific illnesses including cancer, heart attack, and stroke. This waiting period exists to prevent adverse selection - people taking out insurance when they're already experiencing symptoms or aware they may be diagnosed soon. The 90-day qualifying period is standard across most Australian trauma insurers and applies only to these specific conditions; accidental injuries are typically covered immediately or after a much shorter period. It's important to understand that the waiting period starts from when your policy is formally accepted by the insurer (not from when you first apply), and if you're diagnosed with a covered condition during the waiting period, you won't receive a benefit. Some policies may have different or additional waiting periods for other conditions, so reviewing your Product Disclosure Statement is essential. There's also the survival period (usually 14 days) which is different from the waiting period - this requires you to survive for 14 days after diagnosis to receive the benefit. If you're switching trauma insurance providers, there may be portability options to avoid re-serving waiting periods if you've already served them on your previous policy.