What does Probationary Period mean? Read on to discover the definition & meaning of the term Probationary Period - to help you better understand the language used in insurance policies.
A provision in some disability income policies stipulating that benefits will not be payable for sickness commencing during a specified time period (e.g., 15 -30 days) after inception of the policy. The purpose is to clarify that the policy is not intended to cover disability resulting from preexisting disease.
We hope the you have a better understanding of the meaning of Probationary Period.