What Does Elective Benefits Mean?

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What does Elective Benefits mean? Read on to discover the definition & meaning of the term Elective Benefits - to help you better understand the language used in insurance policies.

Elective Benefits

Elective Benefits

When disability income policies allow the insured the option to take a specified sum for certain minor injuries instead of receiving the disability benefit. A schedule in the policy specifies the elective benefits available.

We hope the you have a better understanding of the meaning of Elective Benefits.

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