Can I change my waiting period later?

Yes. Most insurers allow changes, but this may require underwriting and could affect your premium.

What happens if I return to work during the waiting period?

If you return to work before the waiting period ends, benefits generally won't be paid. However, a relapse within a defined timeframe may be treated as a continuation rather than a new waiting period.

How do I choose the right waiting period?

Consider how long you could meet your financial obligations without your income, take into account your savings or emergency fund, and any sick leave you may have.

What waiting periods are available?

Generally 1,2 and 3 month waiting periods are available. Some insurers offer a 2 year wait but this comes with multiple limitations.

Waiting Period in Income Protection - When Benefits Start (Australia)

Understanding the Waiting Period in Income Protection Insurance

When buying Income Protection Insurance, the waiting period is one of the most important choices you'll make. It determines how long you need to wait before benefit payments begin if illness or injury stops you from working - and it has a direct impact on your premium.

⏳ What Is a Waiting Period?

The waiting period is the length of time between when you're unable to work due to illness or injury (your date of disability) and when your income protection benefits start to be paid.

Example: If you choose a 30-day waiting period and you become unable to work on 1 July, benefit payments would generally begin on 31 July - provided all other eligibility requirements are met.

📊 Common Waiting Period Options

Most income protection policies offer a range of waiting period choices, including

Waiting Period	Typical Use
30 days	Popular balance of cost and protection
60 days	Lower premium; suitable if you have paid leave or emergency savings
90 days	Budget-friendly for those with strong savings or leave entitlements

Some insurers may also offer longer waiting periods (such as 1 or 2 years) in specific circumstances.

💡 How Your Waiting Period Affects Your Premium

Shorter waiting periods mean benefits start sooner, increasing the amount paid by your insurer - and your premium.
Longer waiting periods mean you self-fund the early part of a claim, which usually reduces premiums.

Choosing the right balance is about affordability and your ability to manage without income in the short term.

📌 How to Choose the Right Waiting Period

When deciding on a waiting period, consider:

Your regular monthly expenses
The amount of sick leave or annual leave available
Your emergency savings or cash buffer
How long you could manage financially without income

Important notes:

Some higher-risk or hazardous occupations may only qualify for longer waiting periods.
Premiums are generally payable during the waiting period (some insurers may refund them if a claim is accepted).
Longer waiting periods (such as 2 years) can complement employer-provided insurance that already provides short-term cover.

👉 Tip: If your income or job type changes, review your waiting period to ensure it still suits your situation.

🔁 Recovery and Relapse During the Waiting Period

Many retail income protection policies include a relapse or recurrence feature. If you:

Lodge a claim
Recover during the waiting period
Then suffer a relapse within a defined timeframe

…the insurer may treat this as a continuation of the original claim, meaning you may not need to restart the waiting period.

⚠️ Exact rules vary by policy.

Frequently Asked Questions

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