Chapter 9 Critical Thinking Case 2 Luis and Dora Barillas Evaluate their Disability Income Needs Luis Barillas and his wife, Dora, have been married for two years and have a lyear-old son. They live in Charlotte, North Carolina, where is works for Advanced Marketing Analytics. He earns $3,300 per month, of which he takes home $ 2,500. Lus and is family are entitled to receive the benefits provided by the company's group health murance policy. In addition to major medical coverage, the policy provides a month disability income benefit amounting to 25 percent of the employees average monthly take home pay for the most recent 12 months prior to incuring the disability (Note: Luis average monthly take home pay for the most recent year equal to his current monthly take home pay) in case of complete disability would also be eligible for Social Security payments of $ 500 per month Dora is also employed. She earns $ 500 per month after taves by working part-time at a nearby grocery store. As a part-time employee, the store gives her no befits. Should us become disabled, Dora wouls continue to work at her part-time job17 she became disabled, Social Security would provide monthly income of $400. Lumans Dore spend percent of their combined take home pay to meet their bills and provide for a variety of necessary items. They use the remaining 10 percent to fun their entertainment and savings goals 1. How much, awy, adotional disability income insurance coes Luis require to ensure adeguato protection against his becoming complete tableUse Worksheet 9.2 to stes his needs 5 2. Does Dore need any disability income coverage Erinin 3. What specific recommendations regarding disability come insurance would you give us and Der to provide adequate protection for them and their Previous Next FRITID Chapter 9 Critical Thinking Case 2 Luis and Dora Barillas Evaluate Their Disability Income Needs Luis Barillas and his wife, Dora, have been married for two years and have a 1-year-old son. They live in Charlotte, North Carolina, where Luis works for Advanced Marketing Analytics. He earns $ 3,300 per month, of which he takes home $ 2,500. Luis and his family are entitled to receive the benefits provided by the company's group health insurance policy. In addition to major medical coverage, the policy provides a monthly disability income benefit amounting to 25 percent of the employee's average monthly take-home pay for the most recent 12 months prior to incurring the disability. (Note: Luis average monthly take-home pay for the most recent year is equal to his current monthly take-home pay.) In case of complete disability, Luis would also be eligible for Social Security payments of $ 500 per month Dora is also employed. She earns $ 500 per month after taxes by working part-time at a nearby grocery store. As a part-time employee, the store gives her no benefits. Should Luis become disabled, Dora would continue to work at her part-time job. If she became disabled, Social Security would provide monthly Income of $400. Luis and Dora spend 90 percent of their combined take-home pay to meet their bills and provide for a variety of necessary items. They use the remaining 10 percent to fulfill their entertainment and savings goals. 1. How much, if any, additional disability income insurance does Luis require to ensure adequate protection against his becoming completely disabled? Use Worksheet 9.2 to assess his needs. 5 2. Does Dora need any disability income coverage? No Explain 3. What specific recommendations regarding disability income insurance would you give Luis and Dora to provide adequate protection for themselves and their child? Chapter 9 Critical Thinking Case 2 Luis and Dora Barillas Evaluate their Disability Income Needs Luis Barillas and his wife, Dora, have been married for two years and have a lyear-old son. They live in Charlotte, North Carolina, where is works for Advanced Marketing Analytics. He earns $3,300 per month, of which he takes home $ 2,500. Lus and is family are entitled to receive the benefits provided by the company's group health murance policy. In addition to major medical coverage, the policy provides a month disability income benefit amounting to 25 percent of the employees average monthly take home pay for the most recent 12 months prior to incuring the disability (Note: Luis average monthly take home pay for the most recent year equal to his current monthly take home pay) in case of complete disability would also be eligible for Social Security payments of $ 500 per month Dora is also employed. She earns $ 500 per month after taves by working part-time at a nearby grocery store. As a part-time employee, the store gives her no befits. Should us become disabled, Dora wouls continue to work at her part-time job17 she became disabled, Social Security would provide monthly income of $400. Lumans Dore spend percent of their combined take home pay to meet their bills and provide for a variety of necessary items. They use the remaining 10 percent to fun their entertainment and savings goals 1. How much, awy, adotional disability income insurance coes Luis require to ensure adeguato protection against his becoming complete tableUse Worksheet 9.2 to stes his needs 5 2. Does Dore need any disability income coverage Erinin 3. What specific recommendations regarding disability come insurance would you give us and Der to provide adequate protection for them and their Previous Next FRITID Chapter 9 Critical Thinking Case 2 Luis and Dora Barillas Evaluate Their Disability Income Needs Luis Barillas and his wife, Dora, have been married for two years and have a 1-year-old son. They live in Charlotte, North Carolina, where Luis works for Advanced Marketing Analytics. He earns $ 3,300 per month, of which he takes home $ 2,500. Luis and his family are entitled to receive the benefits provided by the company's group health insurance policy. In addition to major medical coverage, the policy provides a monthly disability income benefit amounting to 25 percent of the employee's average monthly take-home pay for the most recent 12 months prior to incurring the disability. (Note: Luis average monthly take-home pay for the most recent year is equal to his current monthly take-home pay.) In case of complete disability, Luis would also be eligible for Social Security payments of $ 500 per month Dora is also employed. She earns $ 500 per month after taxes by working part-time at a nearby grocery store. As a part-time employee, the store gives her no benefits. Should Luis become disabled, Dora would continue to work at her part-time job. If she became disabled, Social Security would provide monthly Income of $400. Luis and Dora spend 90 percent of their combined take-home pay to meet their bills and provide for a variety of necessary items. They use the remaining 10 percent to fulfill their entertainment and savings goals. 1. How much, if any, additional disability income insurance does Luis require to ensure adequate protection against his becoming completely disabled? Use Worksheet 9.2 to assess his needs. 5 2. Does Dora need any disability income coverage? No Explain 3. What specific recommendations regarding disability income insurance would you give Luis and Dora to provide adequate protection for themselves and their child