Losing your medical and insurance
 

Question for my fellow deltoids...

What happens if I medical out at age 40? (I.E. go blind or become paralyzed or whatever). Does delta cut me a check for the next 25 years?

I do have DPMA insurance and the obvious LTD that everyone has. Just wasn't sure what would be covered if I lose my medical and can't fly.

I was looking into loss of license insurance but didn't know if it was a waste with our current benefits. Thanks for the help!

Also curious how many guys take out life insurance on themselves and if so how much? Most people recommend 10-12x income but that's a changing number each year. Plus factoring in our 680k free benefit...

I carry a term life policy outside of what is available through Delta or ALPA. The company provided life insurance is only good while you are with the company. The same logic applies to term insurance through ALPA. It could even change while employed, so I would only consider a portion of what is provided through Delta. You can find a good term life policy outside of what is provided through Delta. Check sites like Select Quote, Zander or just search for "term life insurance". 10-12x income is a good ballpark figure, but depends heavily on your personal financial situation.

This is so important to understand. I was out for 7 months at 29 with an unexpected medical issue. I quickly discovered I was without life insurance and paying COBRA rates for health insurance for a family of 4. Granted, this was pre-Delta, but I learned my lesson and bought as much term life insurance as I could afford as soon as I could.

I will give you my understanding of what your benefits would be should you lose your medical. Please however research for yourself the information to insure you have accurate data.

When you go out with a serious illness or lose your medical you first will exhaust your sick leave bank. If you have the max 270 hours that will cover 3 to 4 months. When sick leave is gone you switch to disability. You will be paid 50% of your best 12 consecutive months in the last 3 years. Profit sharing is not included in that number. If your FAE (final average earnings) number for those 12 months was 200,000 you will receive 100,000 a year until age 65. In addition you will receive 30% of that number into your retirement account or an additional 30,000 a year. The disability payment is taxed, the 30,000 would not be. Since you have elected DPMA you will receive another check for 25% of your FAE or 50,000 more for 1 year. Since DPMA is self funded with post tax dollars that 50,000 is tax free.
You will continue to be covered for health insurance paying the normal premiums until age 65 unless you are disabled due to drugs or alcohol in which case the health insurance stops when disability ends. That's the short version of what happens. You will need to decide if you want to purchase additional coverage.
On the subject of life insurance the company policy should be around 825,000 next year.

Speaking of the company provided life insurance, does being out on disability, short or long term, count as still "being with Delta" for the purposes of the life insurance? In other words, if I get sick at age 50, exhaust sick leave and go on disability, then, say 5 years later, die from the illness, does the DAL provided life insurance pay out?

How long does DPMA last?

Read the above. (1 year)

I believe profit sharing IS included in the number....

Yeah, I read the above, your recollection. I was thinking it was 2 years. Trying to find the reference.