Practice Quiz

Health and Life Insurance

Category - Disability

Start a Study Session Sign up for Question of the Day
What is the elimination period?
  1. The period at the end of the policy term when benefits are expired
  2. The period at the beginning of the policy term
  3. A grace period for late payments before the policy is cancelled
  4. A period at the beginning of the disability prior to benefits being paid
Explanation
Answer: D - The elimination period is a period at the beginning of the disability prior to benefits being paid. This is specifically the period of time the insured must be disabled prior to benefits. Elimination periods can be 30, 60, 90, 180 days, or longer and are dependent on the period elected by the insured. The longer the elimination period, the smaller the premium payments will be for the insured.
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz