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Excepted Period

Definition of "Excepted period"

Debra Toupence
  Keller Williams Realty

Same as term Elimination Period: form of deductible usually found in disability income insurance; for example, no benefits may be payable for a length of time beginning with the first day of illness. Subsequently, benefits are usually paid only for costs incurred after the end of the elimination period. The longer the elimination period in a policy, the lower the premium.

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