From outset you determine the period which must elapse before income benefits become payable. The deferred period has a significant effect on the premium payable; shorter deferred periods result in higher premiums, longer deferred period result on lower premiums. If you receive full pay from your employer for 3 months then you would set the deferred period to 3 months. In the event that you are receiving benefits from a policy and then make a recovery and return to work and then suffer the same illness again, then the deferred period will be waived.