What Is Long Term Care Insurance Elimination Period?

  1. 61667 POINTS
    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    Morbidity insurance products like disability and long term care insurance both have elimination or waiting periods after the claim has been submitted. Most consumer pick a reasonable waiting period to contain premium coats and agree with their cash flow budgets. Many working Americans have 90 days of cash reserves. Many elimination periods attempt to match up to those reserves.
    Answered on September 12, 2013
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  2. 63333 POINTS
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    Peggy Mace
    Most of the U.S.
    A long term care insurance elimination period is the amount of time you must wait between qualifying for your policy's benefits, and actually receiving them. It "eliminates" x number of days off the coverage so that the premium is more affordable to you than if it started paying from day one.
    Answered on September 12, 2013
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