waiting period deductible
A waiting period deductible is sometimes used in business interruption and other time element policies, in lieu of a dollar amount deductible. It establishes that the insurer is not responsible for loss suffered during a specified period (such as 72 hours) immediately following a direct damage loss.
Additional Information
In disability income policies and under workers compensation statutes, a waiting period deductible is a deductible mechanism that establishes a period that must pass following an accident or illness causing disability before salary continuation benefits are payable.
