What is the term for the period before benefits can be collected after a disability occurs?

The correct term for the period before benefits can be collected after a disability occurs is known as the "elimination period." This is a specific duration during which the insured must wait after the onset of disability before any benefits under the policy are paid. The purpose of this period is to eliminate small or short-term claims and ensure that insurance is used for significant and longer-term disabilities.

Although "the time deductible" might sound similar, it is not a commonly recognized term within the insurance industry when discussing disability benefits. In this context, it can lead to confusion, as the primary phrase used is "elimination period." Therefore, the term "elimination period" more accurately reflects the standard terminology found in insurance policies.

While both terms suggest a waiting phase before benefits are received, only the elimination period is widely accepted and understood within the industry. Therefore, while the idea of a waiting period exists in both phrases, it's essential to recognize the elimination period as the correct and commonly used term in regards to disability insurance.