01.Core Concepts

A calendar-year deductible is a type of aggregate deductible that is found in basic medical expense and major medical insurance contracts An elimination (waiting) period is a stated period of time at the beginning of a loss during which no insurance benefits are paid E.g., disability income contracts that replace part of a disabled worker’s earnings typically have elimination periods of 30, 60, or 90 days, or longer periods ‹#›