Which statement is true about the waiting period for residual disability benefits?

The statement that the waiting period generally includes a specified duration is accurate in the context of residual disability benefits. Residual disability benefits are designed to provide financial support to an insured individual who is unable to work full-time due to an illness or injury but can still perform some tasks. The waiting period typically refers to the time that must elapse before benefits are payable or the duration that the individual must be continuously disabled before turning to the residual disability benefits.

When it comes to residual disability insurance, the waiting period is not standard across all policies and may vary among different insurance providers, but it is indeed defined by a specified duration outlined in the policy terms. Understanding the implications of this stipulated waiting period is crucial as it determines when the insured can start receiving benefits after they have reported their residual disability.

The other statements don't align with typical insurance practices. Residual disability benefits do not have a uniform waiting period of 12 months, benefits are not usually immediate after the notice of disability because of various required protocols and procedures, and generally, a waiting period is a standard aspect of claims for this type of benefit, rather than being absent.