What is an Income Protection Deferred Period?

What does the deferred period actually mean and will my claim be backdated if there is a deferment period? Is it cheaper to have one?

Question asked by Josh Lacey

The deferment period (also known as the excess period on Accident, Sickness and Unemployment policies) is the period of time you have to be out of work due to illness, injury or redundancy before any claim will be paid.

All other things equal the longer the deferred period on your policy the lower your premiums will be as you will have to be unable to work due to accident, sickness or unemployment for a longer period of time before benefit payments commence.

How Long After the Deferred Period is the Claim Paid?

With short-term income protection (also known as accident, sickness and unemployment cover) there is often an option to choose a deferred period with Back to Day 1 cover which means when a claim arises benefit payments will be paid back to the start of your claim.

With most traditional long-term Income Protection policies which tend to only cover illness and injury, the shortest deferred period available is often 4 weeks.

For more information you can read our guide about setting your Income Protection deferred period.

If you are looking to take out Income Protection and considering your options please do not hesitate to pop us a call on 02084327333 or email help@drewberry.co.uk. We are here to help.

Why Speak to Us…

We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to let us help.

  • There is no fee for our service
  • We are independent and impartial
    Drewberry isn’t tied to any insurance company, so we can provide completely impartial advice to make sure you get the most appropriate policy based solely on your needs.
  • We’ve got bargaining power on our side
    This allows us to negotiate better premiums for you than you going direct yourself.
  • You’ll speak to a dedicated expert from start to finish
    You will speak to a named expert with a direct telephone and email. No more automated machines and no more being sent from pillar to post – you’ll have someone to speak to who knows you.
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    We pride ourselves on providing a 5-star service, as can be seen from our 2943 and growing independent client reviews rating us at 4.92 / 5.
  • Gain the protection of regulated advice
    You are protected. Where we provide a regulated advice service we are responsible for the policy we set-up for you. Doing it yourself or going direct to an insurer won’t provide this protection, so you won’t benefit from these securities.
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    You have support should you need to make a claim. The most important thing when it comes to insurance is that claims are paid and quickly. We are here to support you during the claims process and make sure it’s as smooth and stress free as possible.

I had a great experience with Drewberry, they have a lot of knowledge and expertise with life insurance and income protection and were able to advise me and arrange suitable products. Highly recommend.

Lachlan Mellings
12/08/2020
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Drewberry Ltd registered office: Telecom House, Preston Road, Brighton, England, BN1 6AF. Telephone 0208 432 7333

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