Insurance Glossary

Insurance Gobbledygook Made Simple

Plain english explanations of insurance terms used by agents, companies and lawyers and found in your insurance policies.

WWaiting periodhas two meanings: (1) the time period you must wait before you can get health insurance from a new employer; and (2) the time that must pass after becoming insured before the policy will begin to pay benefits for a pre-existing condition or specified illness.Waiveran amendment to a policy that excludes coverage for certain medical conditions.