Definition of "Prior income"

Katt Watton real estate agent
Katt Watton, Real Estate Agent Davey Goosmann Realty

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.

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