Benefit Period

Definition

  • The total length of time where benefits are required to be paid. Sometimes known as a payment period, a benefit period is commonly used in the healthcare and insurance industries to determine when benefits are set to end.

Synonyms
payment period, length of time

Related Terms and Acronyms

  • Death Benefit (DB) Acronym, Very Important,
    • A payment or series of payments made to the beneficiaries of a life insurance policy.
    An amount paid to a beneficiary in a life linsurance policy.
  • Family Income Rider Definition,
    • A recurring or lump sum life insurance benefit that matches the policyholder's income.
  • Living Benefits Definition,
    • The option for a life insurance policyholder to receive a portion of their death benefit in advance of their death.
  • Period of Indemnity Definition,
    • The amount of time where insurance benefits are required to be paid by an insurance policy.
  • Waiting Period Definition,
    • The amount of time that must pass before something occurs.
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