Waiver or Premium / Elimination Period

Let’s take a look at two of the new features that you will find in the Asset Care product relaunch in July – waiver of premium and the elimination period.

Frankly, this is a pretty significant upgrade.  The revised waiver of premium waives the policy premium for BOTH the base and Continuation of Benefit Rider when the client goes on claim.  This is included with the policy.  One caveat, waiver is not offered with rated policies (Table 5 – 8).

The elimination period has been changed with Asset Care as well.  In the new version, home care has a zero day elimination period while facility based care has a 90 day period.

There are more enhancements – to learn more, attend one of our training webcasts.