An elimination (waiting)period is an example of a(n)
A)exclusion.
B)deductible.
C)other-insurance provision.
D)coinsurance provision.

Question

Quizplus · Accepted Answer

An elimination period is a waiting period before insurance benefits begin. It is similar to a deductible, in that it is an amount of time or money that the insured must pay out-of-pocket before receiving insurance benefits. It is not an exclusion, as it does not exclude coverage for a particular condition or circumstance. It is not an other-insurance provision or coinsurance provision, as it does not relate to coordination of benefits or sharing of costs between multiple insurance policies.

An Elimination (Waiting)period Is an Example of A(n)