Originally Posted by
MATEN308
No problem. The pilot group would probably be better served by looking to Harvey Watt and paying our own way on LTD and getting a wage bump. Some of the tax liabilities will be avoided, and we would have a bit more control of the terms. Only problem as pilots we are cheap and will say nope to having pay our own way. Also to anyone out when you return you will pay in arrears your half of the insurance premiums you were unable to pay during that 9 months.
Oh one thing I may be wrong on is the $5000 and $10000 cap. In my case my wage was at 5k a month approximately before taxes so 3k was my payout. Maybe someone who was making more can elaborate on their experience if they like wasting their time reading this stuff! Haha. That is about all I have from my experience with our LTD. Hope this helped.
I disagree because I've shopped. The best policy I could find that defined disability based on your first class medical and went to age 65 didn't even start paying until year five of the disability. They are banking on you getting your medical back in the first five years. As a hypothetical spirit pilot that lost his medical that would leave a two year gap with no paycheck (years 3 and 4). The premiums were also outrageous.
The reason it needs to be in the contract is because it would be a group policy. That's the only way to get anything affordable. It would probably just like our medical plan in that it's self insured. This is why the good LTD plans are in every airlines' contracts, it's next to impossible to find a decent plan (pays with no/short waiting period, defines disability as not holding a first class, and pays to age 65) on your own.