What is the period of time that must pass before benefits begin under a new disability income policy?

The correct term for the period of time that must pass before benefits begin under a new disability income policy is known as the elimination period. This is a specified time frame during which the insured must be disabled and unable to work before they become eligible to receive benefits from the policy. It serves as a form of self-insurance, ensuring that the insured can manage their financial situation for a short period before relying on the policy for income replacement.

While options like the probationary period, waiting period, or initial period may sound similar, they refer to different concepts in insurance. The probationary period is generally associated with health insurance and indicates a time frame during which certain conditions are not covered. The waiting period can refer to the initial time before any benefits or coverage starts, but in the context of disability income policy, the elimination period is the more accurate term. The initial period might refer to the start of any policy but does not specifically define the time until disability benefits kick in. Therefore, the elimination period is the definitive term used to describe the wait for benefits under a disability income policy.