QQuestionBusiness Law
QuestionBusiness Law
"The elimination period under a hospital indemnity plan is:
A. The period in which pre-existing conditions are not taken into consideration.
B. The period in which all deductibles are eliminated.
C. The specified number of days after an insurance policy's issue date during which coverage is not afforded for sickness.
D. The specified number of days an insured must wait before becoming eligible to receive benefits for each hospitalization."
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Answer
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Step 2: Understand the key terms
The question is asking about the definition of an "elimination period" in the context of a hospital indemnity insurance plan.
Final Answer
The specified number of days an insured must wait before becoming eligible to receive benefits for each hospitalization. Key Insight: The elimination period helps insurance companies manage risk by ensuring that only more serious or prolonged hospitalizations trigger benefit payments.
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