Monthly benefit amounts from $500–$8,000 are available.
You should choose an amount that is not more than 60% of your monthly earnings at enrollment when combined with any other group or individual disability insurance you have. Determine your annual income by multiplying your monthly earnings by 12.
Your average gross monthly income as reported on your IRS federal income tax returns for the two-year period just prior to your date of enrollment. It includes salary, profits, fees, commissions, bonuses, and other compensation for professional services. It does not include investment returns, rent, royalties or other like income not directly produced by your occupation. Earnings are determined after deduction of normal business expenses and losses, but before deduction of any income taxes.
Note: Your monthly benefit amount can remain the same level all the way to your first renewal date after age 60, as long as it does not exceed 60% of your monthly earnings when combined with other group or disability insurance income. On the first renewal date after age 60, your maximum monthly benefit amount will decrease to $2,500. (Your premium will be adjusted accordingly.)
We recommend you talk with your personal tax advisor or financial planner for assistance in choosing your monthly benefit amount and to discuss how benefits received under this plan may be taxable.