What is the standard elimination period for LTC insurance?

The standard elimination period for long-term care (LTC) insurance is typically 90 days, which is why this answer is recognized as correct. The elimination period, sometimes referred to as a waiting period, is the timeframe that must pass after the onset of a chronic condition before the insurance benefits begin to pay out. Insurers often set this period to minimize costs and ensure that claims are made only for prolonged care necessities.

Having a 90-day elimination period strikes a balance between providing timely support for policyholders needing care and helping manage the insurance provider's risk and expenses. This period allows individuals to exhaust any other care options or resources they may have before relying on insurance benefits. While some policies may offer flexibility with varying elimination periods, 90 days is commonly seen as a standard in the industry. Other options listed, such as 30, 60, or 120 days, do not align with what is typically recognized as a standard elimination period for LTC policies.