[Health Insurance] 30, Elimination Period and Benefit Period for Disability
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
In this episode you will learn:
The elimination period in disability insurance acts as a time-based deductible before benefits are paid.
A longer elimination period decreases the policy premium, while a shorter period increases it.
The benefit period is the maximum duration for which disability benefits will be paid.
A longer benefit period increases the policy premium due to the insurer's higher potential payout.
How to distinguish the per-claim elimination period from the one-time probationary period at the start of a policy.
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