You are currently on claim receiving monthly long-term disability benefits and are either interested in, or have been offered, a lump sum buyout by the insurance company. But the question is: does a buyout make sense for you? When it comes to a decision whether or not to pursue or accept a buyout of your LTD claim, many factors need to be considered.
Determining the reasonableness of a buyout offer is not as easy as multiplying your monthly benefit by the number of months the insurance company would pay you into the future. It is a very fact specific and complicated calculation that must account for variables such as, but not limited to, present value of the claim, potential future offsets, mortality rates, tax consequences, quality of life/peace of mind, and the probability of remaining on the claim until the maximum duration of benefits are paid.
First and foremost, you need to get an accurate valuation of your claim. If you are on claim and have either been offered a lump sum buyout, or are interested in pursuing one, please feel free to reach out to our law office. We are happy to discuss this option with you and the initial consultation is free. An experienced LTD attorney at Abell & Capitan Law can help you accurately assess whether a buyout offer makes sense for you.
If an offer is already on the table, we can prevent you from making a serious mistake and may even be able to negotiate a much better deal for you. Some lump sum settlement offers are non-negotiable, but in most cases the experienced long-term disability insurance attorneys from Abell & Capitan Law can negotiate a much better deal.
If a you are on claim and interested in engaging the insurance company to discuss a lump sum buyout, we can help. Give us a call and we can discuss whether this makes sense for your specific situation. If it does, we can help you negotiate the best possible deal.
Either way, you should consult an attorney and tax professional before accepting any buyout offer. For a free legal consultation, contact our law offices today by dialing 800-689-1056.