Benefit Period

What Does Benefit Period Mean?

The benefit period is to the span of time during which an insurance company pays the policyholder (or the beneficiary named in the insurance policy) a benefit. Defined specially in the policy, it often involves health and disability insurance policies.

Some people also refer to it as a payment period.

Insuranceopedia Explains Benefit Period

A benefit period varies from policy to policy. For example, with Medicare, it begins as soon as you are admitted to a skilled nursing facility or hospital and ends once you have not received care for 60 days in a row. On the other hand, for a long-term care policy, it may begin only after a certain waiting period and last up to a lifetime.