The Johnsons Consider Buying Disability insurance Dual-ncome households often have overlapping health care benefits. For example, both Harry and Belinda Johnson's employers provide partiafly subsidized family health insurance plans as employee benefits. The Johnsons chose to be covered under Belinda's policy because it provides more protection and is less expensive. Helinda's coverage is fully paid for, and she can add Harry to the plan for only $150 per month. Harry can then drop his health plan through his employer and sign up instead for other benefits such as disability inceme insurance, flexble benefits coverage, education reinbursement, and/or contribute more to his 401(k) retirement plan. The bad news is that many employers as 5 ess an average surcharge of $100 per month when spouses can get health care from their own jobs. Although Belinda's employer offers a oenerous employee benefit program, it does not provide disabilty income protertion other than \& sick days per year, which may accumulate to 20 days. Harry also has no disabinty income insurance. Alhough both have worked long enough to qualfy for social Security disabitty benefits, based on information they have received from the Sooal Security Administration, Helinda has figured that Harry would receve about $1,140, and she would receive about 1,280 per morith from Socal Secuity. Harry and Befinda realize that they could not maintain their current living standards on only one salary. Thus, the need for disabify income insurance has become evident even though they will be challenging to afford iuch protection at thei time. Advise them on the following doints: a. Use the thun the Nurbuers workstieet to determine how much disabilty insurance Harry and Belinda each need. Since it has been more than to years ance they started working full-time, their incomes have tisen about 4 percent annually. Belinda's after-tax income now is s9o, 000 and Harry's is 399,000 . flound yout answers to the nearest dollar. Disability itheurance (Hamy): 3 Disabitaty ineurance (Belinta): 5 ) b. Use this informuban to advite the zohensont about thinis selections retated to the follawing major polcy provisionsi 1. Flemenation period 2. Deriefit Detad 3. Residual caache 4. Golt-of living adputtrent: 3. Use the Run the Numbern worksheet to determine how much disablity insurance Harry and Belinda each need. Since it has been more than 10 years since they started working full time, their incomes have risen about 4 percent annually. Belinda's after-tax income now is $90,000 and Harry's is $59,000. Round your aniswers to the nearest dollat: Disability insurance (tarry): 5 Disability insurance (Belinda): 5 b. Use this information to advise the sohnsons about their selections related to the following major polcy provisions: 1. Elmination period 2. Beneft period 3. Residuar douse 4. Colt-oftive adjustiments The mou in the bax below wal not be oraded, but may be reviewed and considered by your instructor. The Johnsons Consider Buying Disability insurance Dual-ncome households often have overlapping health care benefits. For example, both Harry and Belinda Johnson's employers provide partiafly subsidized family health insurance plans as employee benefits. The Johnsons chose to be covered under Belinda's policy because it provides more protection and is less expensive. Helinda's coverage is fully paid for, and she can add Harry to the plan for only $150 per month. Harry can then drop his health plan through his employer and sign up instead for other benefits such as disability inceme insurance, flexble benefits coverage, education reinbursement, and/or contribute more to his 401(k) retirement plan. The bad news is that many employers as 5 ess an average surcharge of $100 per month when spouses can get health care from their own jobs. Although Belinda's employer offers a oenerous employee benefit program, it does not provide disabilty income protertion other than \& sick days per year, which may accumulate to 20 days. Harry also has no disabinty income insurance. Alhough both have worked long enough to qualfy for social Security disabitty benefits, based on information they have received from the Sooal Security Administration, Helinda has figured that Harry would receve about $1,140, and she would receive about 1,280 per morith from Socal Secuity. Harry and Befinda realize that they could not maintain their current living standards on only one salary. Thus, the need for disabify income insurance has become evident even though they will be challenging to afford iuch protection at thei time. Advise them on the following doints: a. Use the thun the Nurbuers workstieet to determine how much disabilty insurance Harry and Belinda each need. Since it has been more than to years ance they started working full-time, their incomes have tisen about 4 percent annually. Belinda's after-tax income now is s9o, 000 and Harry's is 399,000 . flound yout answers to the nearest dollar. Disability itheurance (Hamy): 3 Disabitaty ineurance (Belinta): 5 ) b. Use this informuban to advite the zohensont about thinis selections retated to the follawing major polcy provisionsi 1. Flemenation period 2. Deriefit Detad 3. Residual caache 4. Golt-of living adputtrent: 3. Use the Run the Numbern worksheet to determine how much disablity insurance Harry and Belinda each need. Since it has been more than 10 years since they started working full time, their incomes have risen about 4 percent annually. Belinda's after-tax income now is $90,000 and Harry's is $59,000. Round your aniswers to the nearest dollat: Disability insurance (tarry): 5 Disability insurance (Belinda): 5 b. Use this information to advise the sohnsons about their selections related to the following major polcy provisions: 1. Elmination period 2. Beneft period 3. Residuar douse 4. Colt-oftive adjustiments The mou in the bax below wal not be oraded, but may be reviewed and considered by your instructor