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Dong
05-20-2005, 08:18 AM
I have been a MCTD (Mixed Connective Tissue Disease) patient for almost 4 years. My long term disability insurance pays me each month until my age of 65. Recently it offers a lump sum deal (=6 years). Certainly what accumulated with monthly installments should be higher than the lum sum. But what concerns me is the new long term disability policy if I could find a new job and receive a new such policy. Should the new one be affected by the lump sum deal? I have asked the insurance company and the state dept of insurance, none of them would give me a certain answer.

If accepting the lump sum deal means to give up any future new long term disability insurance coverage, ceratinly I will not accept the offer.

If any one ever in a similar situation? As the disease is INCURABLE, and nobody can guaranteem a no-more-come-back of the disease, I really don't know how to deal with the situation.

Thanks for your ideas! Dong :roll: :roll:

Saysusie
06-02-2005, 05:42 AM
Hi Dong;
Unfortunately, I know nothing at all about insurance, coverage or policies. Hopefully someone with knowledge in that area will respond to you!!

Sorry :oops:
Saysusie

Pete
06-06-2005, 06:45 AM
I've worked in the industry .. not as a salesman but I worked to build the software salesman use to sale the policies.

I would strongly suggest that you DON'T take the lump sum and the chances of you getting a reasonable disability policy again is almost nil already. In fact .. if you even attempt to get a policy and are rejected .. it can quickly effect all insurnace policies you may seek .. even life insurance.

If you hear anything different from the above .. they are trying to sell you something .. unless you have it in writing .. which should also state that they have reviewed your case or file.

Some insurance will be available .. but limited coverage with very high premium would be the norm. And most group plans would already reject any application you might make.

Lastly .. some very aggressive salesman man offer you a disablity policy that would not cover any existing or past illness. Be very careful of these types of policies as well.

cya .. hope this helps a bit :)