Your deferred period is the amount of time that you have to wait before your policy pays you. When you set up your policy initially, you need to decide when you want your payments to start should you put in a claim. So for example if your employer continues to pay you for six months while you are off work sick, you can choose to have your benefits start at 6 months when your sick pay through work runs out. The options for the deferred period are 4, 8, 13, 26 or 52 weeks. The shorter the deferred period, the higher your premium will be. If you are in a position to choose a deferred period of 13 weeks or more, you will see a sharp decrease in premiums. However you should ensure that you can survive financially for 13 weeks without payment before you choose this option (or indeed the 26 or 52 week options).