This is the waiting period until the Salary Protection Insurance income kicks in. The longer the deferred period, the cheaper your premium will be.
You can choose a deferred period of 4, 8, 13, 26, or 52 weeks – and yes, you choose it yourself. Before choosing, think about how long you and your family could realistically survive financially without your income and let that be your guide.
4 or 8 weeks is probably grand for most people, but after that it’d start to get a bit hairy.
Other factors to consider when choosing your deferred period are what other saving/investments do you have in place that can be utilised.