The minimum deferred or waiting period is 30 days.
The wait period before you can claim will depend on the excess period you select. The longer the wait period the lower your monthly premiums will be. Realm mortgage payment protection insurance offers three excess; 0 (back to day 1 cover), 30 or 60 days excess. For Accident and sickness claims the insurance will start after the excess period you have selected is over. For example, if you have chosen back to day one cover (0 day excess) you will receive payment 31 days after your claim start date, backdated to your claim start date. Likewise, if you have chosen either 30 or 60 days excess you will receive payment 31 days after your claim start date, backdated to either 30 or 60 days depending on the excess period chosen.
Claims for unemployment cannot be made within the first 120 days of the start date of your policy. After that period you can claim after the excess period you have selected, either 0, (back to day 1), 30 or 60 days has expired. The table below shows when benefit will be paid for different excess periods selected.
||Benefit Paid After
||31 days (backdated to day 0)
||61 days (backdated to day 30)
||91 days (backdated to day 60)