COST ACCOUNTING
FINANCIAL TERMINOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the length of timm during which a benefit is paid.
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Time that you can pay your debts within
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Detailed explanation-1: -What Is a Benefit Period? A benefit period is the length of time during which an insurance policyholder or their dependents may file and receive payment for a covered event. All insurance plans will include a benefit period, which can vary based on policy type, insurance provider, and policy premium.
Detailed explanation-2: -A benefit period begins the day you’re admitted as an inpatient in a hospital or SNF. The benefit period ends when you haven’t gotten any inpatient hospital care (or skilled care in a SNF) for 60 days in a row.
Detailed explanation-3: -Waiting period The most common chosen waiting period options are 30 days, 60 days and 90 days. Income protection payments are usually made monthly in arrears.So if you had a 30-day waiting period, your first payment would be made 60 days after you first became disabled.
Detailed explanation-4: -Examples of Benefit Period in a sentence The purchase of an electric breast pump is limited to one electric breast pump per Benefit Period.