The elimination period in a long-term disability insurance policy can often create uncertainty. It also hinders the application process. The term refers to a predetermined length of time, typically starting from the moment of official disability and lasting until your benefit payments begin. Understanding this concept helps you maneuver through the complexities of a long-term disability application. Our team at Marc Whitehead & Associates offers long-term disability application assistance to clients nationwide. We help everyday Americans get the benefits they deserve.
What Does a Disability Elimination Period Mean?
It coordinates the time between a disability’s beginning and when benefits are available. The length of the elimination period can vary, so read through your policy before applying for long-term benefits. For example, it could last anywhere from 30 days to as long as a year. Note that insurance companies may reject a claim if policyholders attempt to ignore the elimination period.
Do Individual Disability Policies Have Elimination Periods?
Yes, individual disability policies typically do include elimination periods. Several factors can affect the length and conditions of the elimination period in individual disability policies:
- Policy Terms: The specific terms of your individual disability policy will dictate the length of the elimination period. Review your policy details and ensure you understand the terms.
- Disability Severity: The severity and type of your disability may influence the elimination period. More severe disabilities generally have shorter elimination periods, while less severe or short-term disabilities might have longer elimination periods.
- Desired Premium Rate: The desired premium rate can also influence the elimination period. Generally, a longer elimination period results in lower premium costs.
- Insurer’s Guidelines: Each insurance provider has guidelines and criteria to determine the elimination period, which may vary widely.
Individual disability policies are often complex and understanding them can be challenging. Securing professional long-term disability application assistance can simplify the process and improve your odds of a successful outcome.
The Purpose of the Elimination Period
The elimination period inconveniences policyholders, but it is profitable for insurance companies. Here are the two main reasons insurers employ this strategy:
- Differentiate from Short-Term Disability: The elimination period helps to distinguish long-term disability from short-term conditions. Only those unable to work for an extended period qualify for long-term benefits.
- Reduce Risk for Insurance Companies: The elimination period is a risk mitigation strategy for insurance companies, so they don’t pay benefits unless necessary. This is why the length of the elimination period affects premiums.
Understanding the details and intricacies of the elimination period can considerably enhance your long-term disability application process. Seek professional assistance from an attorney for long-term disability.
What to Do While Waiting for the Elimination Period to Pass
Life happens. People cannot time their disabilities to match elimination periods. So, what are your options if you suffer a catastrophic injury during the elimination period? What can you do while you wait for the period to pass so that you can receive the benefits you paid for? Every case is different, but here are some general suggestions:
- Savings: A health crisis is a legitimate reason to dip into your savings. This is why it’s always advisable to have at least three to six months of living expenses saved up for emergencies like this.
- Short-Term Disability Insurance: If you have a short-term disability policy, you can use the benefits from this policy to cover your expenses during the elimination period. This can bridge the gap until your long-term disability benefits begin.
- Other Insurance Benefits: You may have other insurance benefits. For example, an accident or critical illness insurance plan can provide financial assistance during the elimination period.
- Family and Social Support: Relying on support from family and friends during this time can also be helpful. Additionally, you may qualify for specific social programs or community resources that provide financial aid.
Contact an Experienced Long-Term Disability Attorney for Application Assistance
Navigating the elimination period can be tricky. Consult with an experienced long-term disability attorney who can guide you through the process and help you avoid pitfalls along the way. At Marc Whitehead & Associates, we understand how difficult it can be to file and manage a disability claim. We strive to provide comprehensive legal services that deliver results and give you peace of mind. Our team has decades of experience successfully representing claimants nationwide. Reach out to us today to find out how we can help you secure the long-term benefits you deserve.
