Waiting period
The time between the filing of an insurance claim and the payments made on the claim.
Example: Typically, the longer the waiting period on an insurance claim, the cheaper the policy will be for the holder.
Life insurance terminology shouldn't be confusing. Here is the definition of waiting period.
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The time between the filing of an insurance claim and the payments made on the claim.
Example: Typically, the longer the waiting period on an insurance claim, the cheaper the policy will be for the holder.