When planning to file for long term disability benefits with your insurance company, it’s important to consider the timeline of your claim. Your disability insurance policy will offer you information on the guidelines for filing a claim and any associated deadlines. In your policy, you may have come across the term “elimination period.” This waiting period is an essential aspect of any long term disability insurance policy and can significantly impact the benefits you receive in the event of a disability.
Understanding elimination periods is crucial to making informed decisions about your long term disability insurance claim. In this article, we’ll dive deeper into what elimination periods are and why they matter for long term disability insurance claims.
What is an elimination period?
An elimination period is a waiting period between the onset of a disability and when you start receiving benefits from the insurance policy. The purpose of the elimination period is to prevent people from filing long term disability claims for medical conditions on an interim basis and to ensure that long term disability insurance benefits are used for serious, long term disabilities. The elimination period also provides the insurance company a period of time to evaluate your medical condition before benefits become due.