Elimination Period
Categories: Accounting, Insurance, Company Management
Sometimes, it's a side effect of birth control medication. But talk to your OB-GYN about that.
In terms of finance, it has to do with insurance.
You trip on a croquet wicket at your garden club. You break your wrist. You file an insurance claim...but the money doesn't come immediately. The insurance company has an elimination period in place. It's basically a waiting period: a length of time from when you suffer your injury until the company pays out the benefits it owes you.
Elimination periods typically span 90 days, though it can vary from policy to policy. A longer elmination period can lower your insurance rates, while you can often choose a shorter elimination span if you're willing to pay up for it.