Question
Milos has a gross salary of $6,000 per month as the manager of a large commercial bakery. Milos has a group disability plan through work
Milos has a gross salary of $6,000 per month as the manager of a large commercial bakery. Milos has a group disability plan through work that has a benefit of $3,500 (58% of salary) and he would like to purchase an individual disability policy from another insurer with a benefit of $3,500. If Milos were to purchase the new policy and subsequently become disabled and unable to work, what is the benefit amount Milos will receive from each plan?
a)Milos would receive a benefit of $2,550 from each of the plans.
b)Milos would receive a benefit of $3,500 from one plan and $1,600 from the other.
c)Milos would receive a benefit of $3,500 from one plan and $2,550 from the other.
d)Milos would receive a benefit of $3,500 from each of the plans.
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