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Donna wants to purchase an individual disability insurance policy but feels that the cost is...

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Finance

Donna wants to purchase an individual disability insurance policy but feels that the cost is more than she can afford. The plan design that she is currently considering includes a benefit based on 50 percent of her after-tax income up to a maximum of $5,000 per month, a 90-day waiting period and a benefit period that runs to age 65. Which of the following plan design changes would lower Donnas monthly cost?

Question 15 options:

Decrease the waiting period to 60 days

Increase the benefit percentage from 50% to 55%

Increase the monthly benefit maximum from $5,000 to $6,000

Increase the waiting period to 120 days

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