Deferred
Period
Deferred Period: In relation
to Permanent Health Insurance (PHI) / Income Protection,
refers to the period between the commencement of illness,
and the date at which eligibility for payment of benefit
under the insurance policy would commence. In relation
to a Deferred Annuity, refers to the period between
payment of the premium and commencement of the annuity
payments. This is the period of time
which must pass, before benefit is paid, after an illness or
injury has been diagnosed and reported to the Insurer.
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