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Old 09-28-2009, 11:38 AM
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Join Date: Apr 2008
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Question

LTD Lump Settlement

What is the name of your state (only U.S. law)? TNWhat is the name of your state (only U.S. law)?
I have been on ANY OCCUPATION LTD for over 7 years. I have 21 years left on my policy. I am not dying, just hurt like crazy and take lots of pain meds. The CLaim Rep and I both agreed that it is doubtful I will ever be able to go back to work. I need a lump sum settlement because of being over my head in debt and just can't afford to live. The value of my policy after SS offset if just over $1million. I am thinking that in the spring they might offer me a lump sum. At that time I will have repaid them the Lump Sum I received from Social Security Disability. It has taken 2 years to pay it back. First, do they consider in my calculations before or after the SSDI offset? Has anyone ever made a Lump Sum Settlement and if so, what is the percentage you "LOST" in taking this offer? I realize $1mil is a lot, but right now $500,000 would certainly make my life much easier. I think I could like with that. Any ideas or figures welcome. I have a great policy with a top rated company. They only ask for an APS once a year as well. So I think they know I'm not going back to work.....
Thanks
Last edited by Mark6147; 09-28-2009 at 11:44 AM. Reason: didn't post question
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