Marc-Andr, 37 years old, participates in his employers group insurance plan. The plan provides a long-term disability

Marc-André, 37 years old, participates in his employer’s group insurance plan. The plan provides a long-term disability insurance payable after employment insurance benefits expire and corresponding to 50% of his monthly salary. The disability benefits are nontaxable. With an annual salary of $60,000 and sole financial support of his 3 children, MarcAndré’s estimated current financial expenses are $3,500/month. If he were to become ill, his personal savings would enable him to meet his financial requirements for 4 months. What additional disability insurance coverage should Marc-André take out? 

a) Marc-André does not need additional disability coverage.

 b) Marc-André should purchase disability insurance of $500 per month with a 4- month waiting period.

 c) Marc-André should purchase disability insurance of $1,000 per month with a 4- month waiting period. 

d) Marc-André should purchase disability insurance of $1,500 per month with a 4- month waiting period.