Losing your medical and insurance
11-09-2016, 07:08 AM
#43
Gets Weekends Off
Joined APC: Aug 2012
Posts: 544
I'd say that greatly depends on your personal finances. If you can make do with LTD payout after DPMA expires then you probably don't need additional LOL coverage. If you can't pay the bills on half pay you may want to consider additional coverage.
11-10-2016, 02:20 PM
#44
Gets Weekends Off
Joined APC: Feb 2008
Position: new guy
Posts: 382
Any recommended vendors of LOL?
11-12-2016, 05:24 PM
#45
Gets Weekends Off
Joined APC: Apr 2007
Position: Flying the SEC
Posts: 2,350
I have the maximum ALPA LOL insurance and no extra life insurance. If my wife can't live on 825K she'll need to get a cheaper boyfriend.
I thought I might be losing my medical recently so I got the LOL insurance before my next class 1 Don't even notice the premium as it is payroll pay roll deducted. Need to call USAA and get that umbrella policy. Just convinced my elderly parents to get one to protect their assets( 90 yo driver).
All this stops at 65 but SS doesn't kick in till 67? or later? That is the gap we are going to face. Better to save outside of your 401K/IRAs to cover those years.
I thought I might be losing my medical recently so I got the LOL insurance before my next class 1 Don't even notice the premium as it is payroll pay roll deducted. Need to call USAA and get that umbrella policy. Just convinced my elderly parents to get one to protect their assets( 90 yo driver).
All this stops at 65 but SS doesn't kick in till 67? or later? That is the gap we are going to face. Better to save outside of your 401K/IRAs to cover those years.
11-13-2016, 04:35 AM
#46
Gets Weekends Off
Joined APC: Feb 2008
Posts: 19,704
I have the maximum ALPA LOL insurance and no extra life insurance. If my wife can't live on 825K she'll need to get a cheaper boyfriend.
I thought I might be losing my medical recently so I got the LOL insurance before my next class 1 Don't even notice the premium as it is payroll pay roll deducted. Need to call USAA and get that umbrella policy. Just convinced my elderly parents to get one to protect their assets( 90 yo driver).
All this stops at 65 but SS doesn't kick in till 67? or later? That is the gap we are going to face. Better to save outside of your 401K/IRAs to cover those years.
I thought I might be losing my medical recently so I got the LOL insurance before my next class 1 Don't even notice the premium as it is payroll pay roll deducted. Need to call USAA and get that umbrella policy. Just convinced my elderly parents to get one to protect their assets( 90 yo driver).
All this stops at 65 but SS doesn't kick in till 67? or later? That is the gap we are going to face. Better to save outside of your 401K/IRAs to cover those years.
11-16-2016, 05:09 AM
#49
Gets Weekends Off
Joined APC: Feb 2008
Posts: 19,704
Things to look for are how long before the benefit becomes effective.
How long paid.
Is it offset with other income
Will it pay strictly on the loss of your medical.
11-17-2016, 09:00 PM
#50
Gets Weekends Off
Joined APC: Feb 2013
Posts: 133
if you do the lump sum LOL it starts to decrease when you hit a certain age. So you are paying for 100000 policy that only pays 65500 and keeps on shrinking. good to have if you are young,but get to expensive as you get older.
Someone had a great question about the Delta life insurance, Does it pay out once you are on LTD and die?
Someone had a great question about the Delta life insurance, Does it pay out once you are on LTD and die?
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