Benefit Period


Also found in: Medical.

Benefit Period

The time during which one receives payments from an insurance policy or government program. For example, the benefit period for a person receiving Medicare begins when he/she is admitted to inpatient care and ends 60 days following discharge. The benefit period may be used to help determine the amount and type of benefits one receives.
References in periodicals archive ?
This rider is available for long-term care policies with a 3-year or 5-year benefit period.
One advantage of the federal plan is limited underwriting for active federal employees and military personnel who are not applying for an unlimited benefit period.
After the expiration of the benefit period, the owner can make use of the decontrol provisions.
The duration of the initial benefit period is 1 year.
SharedCare Rider with the 10-year Benefit Period - This benefit allows clients to use their partner's benefits once theirs are exhausted.
To assist property owners, incentives for renovations and for capital improvements should be offered regardless of building location, in addition to a lengthening of the benefit period, change of use incentives for obsolete buildings, and permitting benefits to mixed-use buildings.
The riders for ROP Term and LTG Ultra offer a monthly benefit from $300 to $3,000 (depending on risk class, earned income and a maximum replacement ratio) and a two-year benefit period after a 90-day elimination period with benefits payable for each separate disability.
For lot 1 of the benefit period begins on 1/7/2015 6:00 h and will end on 07/01/2017, 6:00.
Sooner is better, even if they can't immediately afford the cost, which runs about 2% to 4% of income, depending on age, sex, occupation, benefit period and amount, and options.
As an alternative to lifetime coverage, John Hancock developed another industry-first benefit: a new benefit period called 5 Years Plus $1 Million.
All applicants must choose an appropriate benefit period.
5) The benefit period begins on 02/01/2015 and ends on 01/31/2018.