Prior Income

Definition of "Prior income"

Average earned monthly income (AEMI) for the tax year in which the insured wage earner has income interrupted or terminated because of illness, sickness, or accident. This AEMI is important to the calculation of the monthly indemnity benefit and the loss of income amount provided under the disability income insurance policy.

Have a question or comment? We're here to help.

*** Your email address will remain confidential.

Search Real Estate Terms

Popular Real Estate Terms

Popular Real Estate FAQ