What is an elimination period in long term care

The "elimination period" is the amount of time that must pass after a benefit trigger occurs but before you start receiving payment for services. An elimination period: Is like the deductible you have on car insurance, except it is measured in time rather than by dollar amount.

What is the best elimination period for long term care?

Look For a Short Elimination Period\n\n Most long term care elimination periods are for 90-days, which means policyholders can rest easy knowing that, beyond this time frame, they are covered by their insurance, making the benefit payments more manageable.

What does an elimination period mean?

Elimination period is a term used in insurance to refer to the time period between an injury and the receipt of benefit payments. In other words, it is the length of time between the beginning of an injury or illness and receiving benefit payments from an insurer.

How long is a elimination period?

Understanding Elimination Periods\n\n The most common elimination period is 90-days, but they may be anywhere from 30 to 365 days. In general, the shorter the elimination period, the more expensive the policy (and vice versa). Typically, most insurance policies have the best premium rates for 90-day elimination periods.

Is elimination period same as waiting period?

An elimination period (also known as a 'waiting period' or 'qualifying period') is between the date your disability began (typically the date you ceased working) and the date you start receiving LTD benefits.