Supplemental Insurance Basics
What is a supplemental insurance elimination period?
A supplemental insurance elimination period is a waiting period before benefits are payable. Hospital indemnity insurance may have a 1-3 day elimination period before daily benefits begin. Short-term disability insurance has an elimination period of 0-14 days. Longer elimination periods result in lower premiums.
Key Points
- Elimination period: waiting period before benefits are payable
- Hospital indemnity: may have 1-3 day elimination period
- Short-term disability: 0-14 day elimination period
- Longer elimination period = lower premium
- An independent agent can help you choose the right elimination period