LTD
Did y'all get own occupation LTD in the new contract? If not, how does the LTD language read?
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Originally Posted by WhiteMorpheus
(Post 2762513)
Did y'all get own occupation LTD in the new contract? If not, how does the LTD language read?
- Frontier pays the total cost of LTD benefit. - 8k max LTD monthly benefit. - Coverage until FAA approves return to duty. - 90 day elimination period. - 60% benefit based off of 75 hours min guarantee up to 8k max. - Benefit subject to offsets from other income. - The financially inept can elect to not pay imputed income tax on the company paid premiums and then pay income tax on any benefit received. - After 2 years you will remain disabled if you are unable to perform any occupation that has an earning potential greater than 60% or your indexed pre-disability earnings or the maximum monthly benefit if less. - Must apply for Social Security Disability I recall something (email or faq) that said the R&I Committee is working on outside buy-up / expanded coverage options or something to that effect. |
Dang that's unfortunate, definitely not close to the standard at other carriers. Better hope to not have an accident or loose a medical.
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Sounds like after 2 years it’ll be still difficult for them to say you can make 60% of your pay with our new contract rates. CA pay at over 200k is still 120k, I’m not sure what job I could make 120k a year at other than a pilot.
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Originally Posted by sdsunick1
(Post 2764345)
Sounds like after 2 years it’ll be still difficult for them to say you can make 60% of your pay with our new contract rates. CA pay at over 200k is still 120k, I’m not sure what job I could make 120k a year at other than a pilot.
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Originally Posted by CantStayAway
(Post 2764599)
There are lots of jobs that pay $120k. Sales is the first that comes to mind. You don’t even have to have a degree to make that kind of money in sales. Realty is another. Lots of realtors make 6 figures. Remember it’s not you who determines what you could make, it’s the insurance company.
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Originally Posted by CantStayAway
(Post 2764599)
There are lots of jobs that pay $120k. Sales is the first that comes to mind. You don’t even have to have a degree to make that kind of money in sales. Realty is another. Lots of realtors make 6 figures. Remember it’s not you who determines what you could make, it’s the insurance company.
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Originally Posted by Xdashdriver
(Post 2764680)
You do have to be qualified for that occupation by education, training or experience in order for them to reduce your benefits.
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Depending on the monthly budget, it's important to look at expenses after going out on LTD. If you have a family and the spouse doesn't work, the medical insurance costs can reduce your monthly income significantly.
A real time example is as follows: Spouse is Captain - other spouse stays at home with three children - Frontier insurance coverage is as comprehensive as possible. Frontier's monthly insurance bill after expiration of FMLA: 2300 bucks. This leaves the monthly income to the family at 2700 bucks. The above is from the old contract, but plug in the new numbers and contemplate the outcome. I believe it's time to research and engineer a supplemental LTD which is not subject to offset by the provided LTD policy (and vice versa). Sooner would be better than later. By ALPA stats, 20% of pilots will lose their medical for a period of time in their careers. |
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