The elimination period for Disability Insurance is the amount of time between the event of becoming disabled, and the time when the benefit starts being received.
People choose elimination periods based on their budget (the longer the elimination period, the lower the policy premium) and on the funds they have saved up (if someone does not have over one month of income in savings, it would be wise to get a Disability Insurance policy with a one month or less elimination period).
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People choose elimination periods based on their budget (the longer the elimination period, the lower the policy premium) and on the funds they have saved up (if someone does not have over one month of income in savings, it would be wise to get a Disability Insurance policy with a one month or less elimination period).