What Is The Elimination Period For Disability Insurance?
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63333 POINTSContact Meview profilePeggy MaceMost of the U.S.The elimination period for Disability Insurance is the time period between the time that the disability occurs, and the time when the Insured person collects the first benefit. For Long Term Disability Insurance, a common elimination period is 3 months, but it can be much shorter or much longer.Answered on June 23, 2013+11+1 this answer
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61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaDisability insurance offers several elimination or waiting periods before tax free monthly benefits are paid. Most Americans have 90 days of cash reserves for emergencies. If that we're the case for you, a 90 day elimination period would first need to be satisfied after your claim before benefits started.Answered on September 14, 2013flag this answer- 63333 POINTSContact Meview profilePeggy MaceMost of the U.S.The elimination period for Disability Insurance is the waiting period between the time the disability occurs, and the time the insurance benefit begins to be paid. The elimination period is one of the variables of a Disability Insurance policy that can be adjusted to lower premiums (by making the elimination period longer). If the applicant has very little savings on hand, they may want to pay more premium and buy a policy with a shorter elimination period.Answered on September 14, 2013+01+1 this answer 0flag this answerview more answers by Peggy Mace
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaThe elimination period is basically the policy deductible. It is typically the number of days from the onset of disability for which no benefits are payable. The standard elimination period is 90 days (as Steve mentioned, that how much the typical American has in cash reserves), but your agent can also adjust the EP to 30, 90, 180 and even 365 days.Answered on September 16, 2013flag this answer
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