Why is there a waiting period for Income Protection?

Most people have some sick leave available, savings or some other type of support that can help them manage through the initial period of sickness or injury. With NobleOak Income Protection Insurance you can choose from Waiting Periods: 30, 60, 90 or 730 days from the date of Disability during which no benefit is paid. Choosing the longer Waiting Period reduces your premiums.

For example, Daphne’s a fit and healthy 30-year-old primary school teacher who rarely gets sick and accrues unused paid sick leave. She also has regular term holidays and an emergency savings account that gives her peace of mind if something unforeseen comes up. To keep her Disability Income premiums to a minimum, Daphne has chosen the longer waiting period of 90 days, confident that she will only need benefits to be paid if she is disabled for more than 3 months.