Akash is a self-employed management consultant who is covered by an individual disability policy which will pay him a $5,000 monthly benefit tax free if disabled. The plan has a residual benefit. Akash suffers a heart attack and is off work for some months, sufficient to satisfy the qualification period on his residual benefit. His doctor advises that he can return to work in the afternoons but must spend the mornings at a cardio- rehab clinic for several months.   what does the residual benefit pay to Akash each month?  

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A residual benefit is a type of disability insurance provision that provides partial benefits to an insured individual who has experienced a partial d... View the full answer