Elimination Period

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Dictionary Says

Definition of 'Elimination Period'

The length of time between when an injury or illness begins and receiving benefit payments from an insurer. Also known as the "waiting" or "qualifying" period, policyholders must in the interim pay for these services and can be thought of as a deductible.
Investopedia Says

Investopedia explains 'Elimination Period'

In general, the shorter the elimination period, the more expensive the policy and vice versa. Typically, most insurance policies have the most attractive rates for 90-day elimination periods. A policy with anything longer than 90 days, while less expensive, may not save you much for the extra risk you take on. Also, when choosing a long-term care insurance policy, some policies require the elimination period to consist of consecutive days of disability. For example, if your elimination period was 90 days, you would need to be in a hospital or disabled for 90 consecutive days before any coverage begins - accumulating 90 days in total over a specified period of time (i.e. six months) would not qualify you for coverage. Before buying LTC insurance, make sure you know the terms of the elimination period.
Search results for

'Elimination Period'

  • Taking The Surprise Out Of Long-Term Care

    http://www.investopedia.com/articles/04/112904.asp
    ... long-term care insurance, but the five key factors that will have the largest impact
    on the cost of your policy include (1) the elimination period, (2) your age ...

  • Intro To Insurance: Disability Insurance | Investopedia

    http://www.investopedia.com/university/insurance/insurance5.asp
    ... Periods: This is the amount of time you have to wait before benefits are paid after
    your disability begins - the longer the elimination period, the lower the ...

  • Choosing The Best Disability Insurance

    http://www.investopedia.com/articles/pf/06/disabilityinsurance.asp
    ... What is an "elimination period"? The elimination period is the amount of
    time that you must wait before your benefits kick in. The ...

  • The Disability Insurance Policy: Now In English

    http://www.investopedia.com/articles/pf/07/disability_insurance.asp
    ... the waiver of premium rider provides relief from paying premiums for a certain amount
    of time, usually 90 days or the duration of the elimination period. ...

  • Medicaid Vs. Long-Term Care Insurance

    http://www.investopedia.com/articles/05/031005.asp
    ... Medicaid also covers your costs from day one, while LTC insurance does so only at
    a very high cost, imposing an elimination period (explained in Taking the ...

  • Long-Term Care: More Than Just A Nursing Home

    http://www.investopedia.com/articles/pf/05/031705.asp
    ... hospital. If covered care was required the need often did not last long enough
    to meet the LTC policies' elimination (waiting) period. ...

  • Intro To Insurance: Long-Term Care Insurance | Investopedia

    http://www.investopedia.com/university/insurance/insurance6.asp
    ... reason for care or severity of the patient/insured's condition, the geographic location
    of the care, the daily benefit amount, the elimination period, the time ...

  • Take Advantage Of Employer-Sponsored LTC Insurance

    http://www.investopedia.com/articles/pf/08/employer-LTC.asp
    ... A waiting or elimination period must be satisfied before benefits are available.
    Both types of policies usually offer some type of inflation protection. ...

  • Student Loan Rules You Should Know About - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1111/Student-Loan-Rules-You-Should-Know-About.aspx
    ... have to make payments for 20 years instead of the current period of 25 ... Between the
    elimination of the Stafford loan subsidy, the loan origination rebate and ...

  • The History Of The FDIC

    http://www.investopedia.com/articles/economics/09/fdic-history.asp
    ... that led to the most bank failures in the post-World War II period. ... These laws commenced
    banking reform by authorizing the elimination of interest rate ceilings ...

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