62% of the policyholders without inflation protection have policies with no elimination periods
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.
The researchers also looked at the effects of LTD policy elimination periods
-- the gap in time between the day a covered worker becomes disabled and the day the worker can collect LTD benefits.
Companies have various elimination periods
the period of time after you're sick or injured before benefits begin to accrue.
Avoid very low deductibles or elimination periods
(EP), since lower deductibles have a much higher premium cost.
One example is the use of shorter elimination periods
(more policy money, quicker).
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.
may vary from a month or less, for short-term disability coverage of an illness, but not an accident, up to longer periods such as 60, 90, 180, or 365 days for a long-term policy.
An individual disability income policy will typically offer the purchaser a choice of several elimination periods
at the time the policy is purchased.