The longer elimination periods
and/or lesser payout periods have a lower premium.
The cost is higher for shorter elimination periods
because insurers will not just pay out more claim dollars but also see more claims incurring during this time period.
An aggregate benefit policy and a non-aggregate policy issued for like amounts, with elimination periods
being identical, not withstanding any variations in the policy provisions themselves, might pay identical benefit amounts on the first claim.
Companies have various elimination periods
the period of time after you're sick or injured before benefits begin to accrue.
The top Hooters Girls with the most votes will move on the next round during the 3 elimination periods
Avoid very low deductibles or elimination periods
(EP), since lower deductibles have a much higher premium cost.
For example, some policies offer calendar-day elimination periods
, which means the elimination period
starts the day that a doctor assesses cognitive impairment or deficits in activities of daily living.
Benefits included short elimination periods
, high replacement ratios, high maximums, extended own-occupation and specialty definitions, cost-of-living adjustments and so on.
The impact on short-term disability insurance products could be dramatic, depending on the elimination periods
in the policies.
Elimination Period Elimination periods
for long-term care policies affect claims cost in three ways: They reduce total claims paid, they reduce moral hazard since insureds share in the cost of a loss before benefits become payable, and the applicant's choice of elimination period
serves as a signal of riskiness to insurers.
Recognize that elimination periods
- the number of days you must be in residence in a nursing home before policy benefits begin, for example - can vary, usually from 0 to 100 days.
A review of your personal policy should focus on such things as what constitutes a disability and partial disability, accepted causes of disability, waiting or elimination periods
once the disability arises, benefit payment periods, and your responsibility to return to work in some capacity while disabled.