Waiting Period
A set amount of time after your policy starts during which certain benefits are not available. Waiting periods prevent people from buying insurance only when they know they need it. They are common in health, disability, and pet insurance.
Real-World Example
Bella's pet insurance has a 14-day waiting period, meaning any illness diagnosed in the first two weeks after enrollment is not covered.
Related Terms
Disclaimer: This glossary entry is for informational purposes only and does not constitute financial or insurance advice. Consult with a licensed insurance professional for personalized guidance. GuardianChoices may earn affiliate commissions from links on this site — see our advertiser disclosure.
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