Based on the Following Information, How Much Individual Disability Insurance

question 101

Multiple Choice

Based on the following information, how much individual disability insurance coverage per month would be required? ∙ Mortgage payment: $1600/month
∙ Household insurance: $100/month
∙ Car insurance: $200/month
∙ Gas and oil: $90/month ($30 commuting to and from work)
∙ Food: $200/month ($70 represents lunch at work, which would be reduced by half if the meals were prepared at home)
Employer disability insurance would provide $500/month and it is doubtful that anything would be received from either CPP or workers' compensation.

• A)$1525
• B)$21 250
• C)$1590
• D)$1625

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Definitions:

Opiate Drugs

Narcotic drugs derived from opium or opium-like compounds, used medically to relieve pain but can lead to addiction.

Tolerance

The process of becoming less responsive to a specific amount of a substance or stimulus after repeated exposure.

Dependence

A condition characterized by a physical or psychological need for a substance or behavior, often leading to compulsive use.

Legal Drugs

Substances that are permitted by law for sale and consumption, which can include prescription medications, over-the-counter drugs, and certain recreational drugs.