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A waiting period is the period of time between – your date of disablement, and when you are first eligible to receive a benefit payment.
Eligible members* also have the option to apply for Income Protection and to choose their waiting period to be:
Any change to your waiting period will have an impact on your premiums.
However you do need to understand that if you are shortening your waiting period, it won’t take effect until the number of days of your previous waiting period has passed from the date we accept the change.
*Members employed as Police officers by the Queensland Police Service do not have the ability to change their waiting period.
There are other ways to personalise your income protection cover.
Let’s look at Katherine’s situation to see how this works. She currently has a 90 day waiting period, and wants to change this to a 30 day waiting period.
QSuper receives Katherine’s application on 1 March. This is day 1. However the change won’t come into effect until day 91, which is 30 May.
So if Katherine has an accident on 28 May, she will still have a 90 day waiting period until she can receive a benefit. If she has an accident on 30 May, or any day after that, she will have a 30 day waiting period until she can receive a benefit.
Please note that the case studies are provided for illustrative purposes only and the members shown aren’t real. It is assumed for the purpose of the case studies that all terms and conditions have been met. Additionally, figures may be rounded for ease of understanding.
Eligibility criteria and exclusions may apply. Please refer to our Accumulation Account Insurance Guide for further information.