deferment period
noun[C]
ukus(alsodeferral period)INSURANCE
in the UK, anagreedperiodoftimethat apersonwho hashealthinsurancemust beillbefore theinsurancecompanybeginsmakingpaymentsto them:
Insurancepolicieswill usually beslightlymoreexpensiveif there is ashorterdefermentperiodbefore theystartpayingout.