Elimination Period

The elimination period functions as a deductible measured in time rather than dollars. Longer elimination periods typically result in lower premium costs but require policyholders to rely on savings or other resources during the waiting period. This timeframe allows insurance companies to process claims, verify the disability, and ensure the condition isn't short-lived. Some policies may have different elimination periods for different causes of disability, such as shorter waits for accidents and longer waits for illnesses.