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Most policies will not pay out until you have been off work without pay for a "deferred period" of at least four weeks.
If your employer offers sick pay for a set period, it may be wise to choose a deferred period of the same length.
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You can choose a longer deferred period – of up to 52 weeks - which reduces the cost of insurance.
If you are still ill once the deferred period has ended, you should start to receive payment once you have completed your claim form and the insurer has checked things out with your doctor (if necessary).
A deferred annuity is designed to allow you to contribute money for a period of time before you begin making withdrawals.
We explore an instalment payment (contract) consisting of an initial payment to the supplier as soon as the product is put in use, followed by a deferred payment that is contingent upon the product in normal operation within a certain period.
Tontine life insurance paid a deferred dividend to policy holders who survived and faithfully paid their insurance premiums for a defined period, usually 20 years.
"It's a deferred sale.
He entered a deferred prosecution program.
"It's a deferred tax benefit," he said.
A deferred annuity has two phases — accumulation and distribution.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com