Waiting period
The period at the start of a claim before benefits begin to pay (income protection) or the initial policy period before cover applies (life / trauma).
Definition
On income protection, the waiting period is the time between when you stop work and when monthly benefits start (typical options: 4, 8, 13, 26, 52 weeks — longer wait = lower premium). On life and trauma cover, "waiting period" sometimes refers to the initial weeks/months after policy start before specific benefits become claimable.
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Not personalised financial advice. Definitions are editorial framings of how the term is used across NZ life cover. Your specific policy wording is the authoritative source.