Never Let a Crisis Go To Waste
10-30-2023 | 04:12 PM
#51
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Joined: Sep 2014
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I have the supplemental max disability through the ALPA plan. If you lose your FC I believe it’s 4800 a month for the first 5 years then 2400 a month until age 65 (I signed up a few years ago and can’t entirely remember the exact details) Premiums go up as you get older. I’ll probably stop when I’m 55ish.
it would almost make me whole and I’d probably drive the golf cart that picks up balls at the range 3 days a week to get out of the house and for beer money.
it would almost make me whole and I’d probably drive the golf cart that picks up balls at the range 3 days a week to get out of the house and for beer money.
10-30-2023 | 04:13 PM
#52
Gets Weekends Off
Joined: Apr 2018
Posts: 4,141
Likes: 560
The misinformation here is crazy. My SO is a therapist, not a doctor, not even a PHD, she just has her Master's and is licensed by the state. A diagnosis by her really means nothing at all, she can't prescribe medication. She could refer someone to a psychiatrist, but that's up to them if they want to go or not. There are only a few things that she must mandatorily report (intent to harm others, etc). Going to a therapist is not going to cause you to lose your medical.
10-30-2023 | 04:30 PM
#53
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Joined: Dec 2022
Posts: 1,372
Likes: 141
are you serious? A 69 second Google search will show you dozens of short and long term personal disability insurance options. Mutual of Omaha, New York Life you name it. Don’t forget ALPA, they have lots to offer. They are out there. Yes it can be expensive, but what is the cost not to do it if you become disabled.
my friend is medically retired and making 100% of his previous income. He knew if serious outside his control happened this was the only way to know he and his family would be taken care of. He also had a whole life policy that converted to a disability policy if you because disabled. Whole life isn’t always a bad idea. Unfortunately, some see it as a waste of money. I know people that have zero life insurance because they think it is a scam. Well, what is your risk tolerance? What is your families risk tolerance.
my friend is medically retired and making 100% of his previous income. He knew if serious outside his control happened this was the only way to know he and his family would be taken care of. He also had a whole life policy that converted to a disability policy if you because disabled. Whole life isn’t always a bad idea. Unfortunately, some see it as a waste of money. I know people that have zero life insurance because they think it is a scam. Well, what is your risk tolerance? What is your families risk tolerance.
10-30-2023 | 04:32 PM
#54
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Joined: Dec 2022
Posts: 1,372
Likes: 141
I have the supplemental max disability through the ALPA plan. If you lose your FC I believe it’s 4800 a month for the first 5 years then 2400 a month until age 65 (I signed up a few years ago and can’t entirely remember the exact details) Premiums go up as you get older. I’ll probably stop when I’m 55ish.
it would almost make me whole and I’d probably drive the golf cart that picks up balls at the range 3 days a week to get out of the house and for beer money.
it would almost make me whole and I’d probably drive the golf cart that picks up balls at the range 3 days a week to get out of the house and for beer money.
10-30-2023 | 04:39 PM
#55
Line Holder
Joined: Dec 2022
Posts: 1,372
Likes: 141
No it’s not because it will not adjust with inflation. I’m not saying it’s unlivable now but one day it may not be that much money. Also, in our current CBA we do not get a DC retirement contribution while out on LTD. Also only get company medical for 5yrs.
That $180k is going to disappear really quick if you plan on funding college educations, weddings, your own retirement, medical insurance, and have exposure to inflation.
All because the FAA has a bone to pick over something that doesn’t affect one’s ability to fly an airplane. The risk for us is huge. They just wave their wand and sit on their hands making you jump through hoops.
10-30-2023 | 05:04 PM
#56
Gets Weekends Off
Joined: Mar 2018
Posts: 3,690
Likes: 256
No it’s not because it will not adjust with inflation. I’m not saying it’s unlivable now but one day it may not be that much money. Also, in our current CBA we do not get a DC retirement contribution while out on LTD. Also only get company medical for 5yrs.
That $180k is going to disappear really quick if you plan on funding college educations, weddings, your own retirement, medical insurance, and have exposure to inflation.
All because the FAA has a bone to pick over something that doesn’t affect one’s ability to fly an airplane. The risk for us is huge. They just wave their wand and sit on their hands making you jump through hoops.
That $180k is going to disappear really quick if you plan on funding college educations, weddings, your own retirement, medical insurance, and have exposure to inflation.
All because the FAA has a bone to pick over something that doesn’t affect one’s ability to fly an airplane. The risk for us is huge. They just wave their wand and sit on their hands making you jump through hoops.
10-30-2023 | 05:18 PM
#57
Banned
Joined: Aug 2019
Posts: 1,244
Likes: 0
[QUOTE=Noisecanceller;3717741]No it’s not because it will not adjust with inflation. I’m not saying it’s unlivable now but one day it may not be that much money. Also, in our current CBA we do not get a DC retirement contribution while out on LTD. Also only get company medical for 5yrs.
That $180k is going to disappear really quick if you plan on funding college educations, weddings, your own retirement, medical insurance, and have exposure to inflation.
That 180K will last longer than you think. You no longer pay Fica, union dues, and everything else but Fed and state tax. You unfortunately won't be able to contribute to your 401K. LTD is capped at 60% of 330K this year so it pays out about 13K a month if you made 330K/yr.
That $180k is going to disappear really quick if you plan on funding college educations, weddings, your own retirement, medical insurance, and have exposure to inflation.
That 180K will last longer than you think. You no longer pay Fica, union dues, and everything else but Fed and state tax. You unfortunately won't be able to contribute to your 401K. LTD is capped at 60% of 330K this year so it pays out about 13K a month if you made 330K/yr.
10-30-2023 | 05:27 PM
#58
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Joined: Dec 2022
Posts: 1,372
Likes: 141
That 180K will last longer than you think. You no longer pay Fica, union dues, and everything else but Fed and state tax. You unfortunately won't be able to contribute to your 401K. LTD is capped at 60% of 330K this year so it pays out about 13K a month if you made 330K/yr.
Premiums are paid after tax.
10-30-2023 | 05:32 PM
#59
Gets Weekends Off
Joined: Apr 2018
Posts: 4,141
Likes: 560
Pretty sure Delta has no cap, but 50% of highest 12 months in the last 36. With 2x 401k DC (so 32% this year, 34% next year, then 36% the following years)
10-30-2023 | 05:42 PM
#60
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Joined: Dec 2022
Posts: 1,372
Likes: 141
That is correct. My airline CBA with the pilots has a different policy.
I don’t think most of us have any true interest in losing our medical certificate and going on LTD. We want to earn our living. The FAA searches for nonsensical ways of taking that away is all I’m saying and why pilots don’t seek treatment for care that would help them stay healthy.
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