62% of the policyholders without inflation protection have policies with no elimination periods
A policy today that pays a monthly benefit of $9,000 (for 10 years of care, with 5 percent compounded automatic inflation protection, a 90-day elimination period
for facility care, and a zero-day elimination period
for home health care) has an initial pool of money of $1.
About 60 percent of the effect of a longer elimination period
comes from the censoring of shorter claims, while the remainder is due to the fact that workers facing a longer elimination period
are less likely to claim benefits for impairments that would lead to only a brief period of receiving disability payments.
With long-term care, the typical elimination period
is 90 days, which means you are responsible for covering the first 90 days of care on your own.
Duration of the nuclear ban warhead elimination period
is proposed to be either three or four years, depending on the higher number of either Russian or US nuclear warheads remaining when the worldwide, unanimously joined nuclear ban treaty enters into force.
Not only that, but many companies will waive the elimination period
and you could start receiving your benefits immediately.
That coverage often counts toward satisfying the elimination period
As a result, a broker with a Lloyds of London relationship was called in, and a five-year key person disability policy was bound, with a lump sum benefit payable after a 12-month elimination period
to protect the private equity firm's investment.
Since these plans are marketed to low-income, high-turnover groups and often contain a preexisting condition elimination period
, enrollees often have left their jobs before they're even eligible for benefits.
Of course, prior to payment of any benefit the policy's elimination period
must be satisfied.
Policyholders who do not want to pay the higher premiums will be offered the option of reducing the daily benefit amount permitted under the policy or changing the policy's duration, inflation protection provision or elimination period
, Genworth says.
00 * Based on a $400,000 lifetime maximum, $6,000/ month for facility and home and community care after 90-calendar day elimination period
with no inflation protection provided.