When you are insured under this plan and you suffer a covered total disability that lasts for the applicable, elimination period, you will receive benefits while you remain totally disabled thereafter, up to the benefit duration period . To determine the maximum issue limits at the time of application, New York Life limits the amount of disability income benefits it will approve, based on your age, earnings and all other disability insurance you have in force and intend to continue.
Earned income is equal to net monthly income after business expenses, and before taxes.
Income from investments, rent or royalties is not included in earned income. Includes other disability insurance inforce at time of application. While you remain totally disabled from a covered accident or illness, monthly benefits are payable as follows. Total Disability Defined Total Disability means a disability that continuously disables you so that you are unable to perform the substantial and material duties of your own occupation. Also you must be under the care of a legally qualified physician and not working at any gainful occupation.