When Does Long Term Disability Insurance Start?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaLong term disability insurance generally has a waiting period or "elimination" period that needs to be satisfied before benefits are generated. If you are addressing individual disability insurance, one of the most popular waiting periods is 90 days. Most Americans have about 90 days in cash reserves, so establishing your cash reserves will help you determine you disability elimination period.Answered on August 29, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNDisability insurance policies usually start paying benefits once the elimination period is completed after the diagnosis that causes the disability. Elimination periods commonly vary from 30-60-90-120-180-360 days. Most good policies will go back and pay the first day of disability as well once the elimination period requirements are met on top the ongoing benefits as well.Answered on July 2, 2014flag this answer
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