Does Disability Insurance Have A Waiting Period?

1. 

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   Tim Wilhoit

   Owner, Your Friend 4 Life, Brentwood TN

   I believe by "waiting period" you are asking about the elimination period. Yes all disability policies have some sort of waiting period upon your first diagnosis of a medical disability. Short term disability insurance plans have a relatively short elimination period and can be as short as one day. Long term disability plans vary from 30 days to 360 days before benefits begin to pay.

   Answered on October 13, 2014

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2. 

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   Peggy Mace

   Most of the U.S.

   Yes, Disability Insurance has a waiting period that you select yourself. Your premium will correspond inversely to the length of the waiting period you pick. I.e. A policy with a 3 month waiting period will have a lower premium than a policy with a 1 month waiting period. The waiting periods are called elimination periods. Your agent can help you select the one that best fits your needs and budget.

   Answered on October 13, 2014

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