Long Term Disabillity

[UndercovrAngel]

Hi y'all

I know this really isn't WC related, but I need some valued opinions and since y'all are family, knew I could post here for answers.

As y'all know, I was on LTD through my employer beginning March of 09 till August of 09 when they stopped payment due to overpayment with my WC IIB's and SSDI.

It seems that they have been holding payment of $170.54 per month since September 1, 2009 and my debt has now been paid back. I received a check Monday for $77.54 which is what remaained for August after debt payoff. Yesterday, I received a call from one of their adjustors offering a settlement to close out LTD.

Here is how it would work out.

170.54 monthly x 12 months = $2046.48
$2046. 48 x 18 (years left to age 65) = $36,828.00
Settlement offer = $11,800.00
which equals 5 years 8 months worth of payments.

I am thinking of making a counter offer of $18,000.00 and would be willing to accept $15,000.00. LTD would still save between $18,000 to $21,000 over what they would have to pay if I take monthly payments.

This amount would let me pay off all of my debts, attend my daughters wedding in WY the 25th of September and still put almost 2/3rds into an interest bearing account for a rainy day.

I am looking for any and all thoughts on this. I have till Friday to call the adjustor in order to get the check the 2nd week of September, otherwise, I won't get the check till October and it wouldn't do me any good (as far as making daughters wedding) and would probably just end up taking monthly payments.

Angel ^j^

[jayne]

Angel...you have to do what you feel is right...if you want this then its right just put the stip in there that the check must get to you no later than.....and the date......keep in mind the 10 days to clear.....good luck and tell you daughter congrats from all of us here

[Bummer Knees]

I agree this is your decision, only you know in your heart what is right for you.

My sister had an offer similar to this with the insurance company. She had paid off her home the previous year and had no debts.

She did not accept the pay off and continued with monthly payments.

Good Luck with this.