What is meant by a “Waiting Period” or “Elimination Period”?
A. A Waiting Period or Elimination Period is like a deductible to a disability claim. The waiting period or elimination period is the length of time at the beginning of a disability claim for which no benefits are payable. Generally the longer the waiting period the lower the premium. It is important that you make sure the waiting period you select fits in with your specific financial plan. Waiting period selection should take into consideration the possibility of recurrent disabilities for chronic conditions and the provisions of your specific policy. For more information, please contact our customer service department.
