The waiting period or elimination period for doctor disability insurance is the time between when you become disabled and the time you can collect doctor disability insurance benefits. The industry standard waiting period is 90 days, but some people choose a longer waiting period, like 180 days. But why would someone want to delay their benefits?
When you elect for a 180-day waiting period, most contracts will have a 14%-17% discount on premiums. Depending on the size of your contract, you may find that the monthly savings would be worth waiting the extra 90 days in the event of disability. It is important to remember that you can lengthen your waiting period at will, but you must ask permission and reapply to shorten your waiting period.