14.3.3 Elimination Period Provision
The elimination period is similar to a deductible. This refers to the time immediately following the accident when benefits are not yet payable. This time period is agreed upon by the owner during the application process. A person pays out of pocket for short-term disabilities, which in return helps keep premiums lower. Naturally, the shorter the elimination period, the higher the premium.
An insurer takes into account the insured's living expenses when it determines the elimination period. The length of time varies greatly per individual.
