You love your job and if you become disabled don't want to do any other job. Yet, you'll need an income. Even though it will cost you more, you will

buy a policy with a definition of disability of

The cost is more because the insurer has

flexibility when determining if you're eligible for benefits.

When you shopped for a disability income insurance plan, the likelihood of finding a plan that would pay $95\%$ of your gross income was

You found that the usual range of gross pay that's covered with disability income insurance is

$"$ because the

percentages could encourage some people to $.$

$.$ In many cases, these people could then collect

than

their

$\_.$ pay from their jobs. Limiting the amount of disability benefits to these percentages usually covers necessities adequately and

often

in their recoveries enough to return to work and thus return to their full income level.

How long should you receive benefits?

Upon retirement at $65,$ you expect to collect a pension, Social Security, and draw on your IRA. Your best friend works as a consultant, doesn't report

income, and has a small IRA. You will most likely buy a disability income insurance policy that covers you

$.$ You suggest

that your friend purchase a policy that provides coverage $.$

Your choice and suggestion are based on that fact that disability income insurance provides funds when income is lost due to illness or injury. If you

become disabled after you retire you

lose your pension, Social Security, or IRA income. If your friend becomes disabled, the small IRA is

$\text{'}$ to be sufficient to provide for basic necessities. Additional income

be necessary to pay the simplest expenses.

Disability policies include probationary and waiting periods.

You plan to take a vacation to go helicopter skiing and will be sure to purchase your disability income insurance policy before the trip. You should also

make sure to take your vacation

the policy's

period expires because if you get hurt during that time, you will

You've had a disability income insurance policy for many years. You have an emergency savings account that would support you for three months. If

you lose income due to injury or illness, you plan to use these funds until the $90-$day.

$\_$ period expires, after which you

begin receiving benefits from your disability income insurance policy.