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SWAPA STD/LTD
03-26-2024, 07:11 AM
#1
Furloughed Again?!
Thread Starter
Joined APC: Aug 2007
Position: Boeing 737
Posts: 4,796
SWAPA STD/LTD
Ok, after listening to the podcast and reading the material SWAPA sent out, I’m leaning towards dropping STD/LTD altogether.
Here’s my thinking. I’ve got around 900 sick trips. So I’ve got plenty to bridge the 60 days before loss of license kicks in.
LTD adds another $2500 per month on top of Loss of License but premiums are about 1TFP per month to insure that amount. We don’t live an extravagant lifestyle so I’m thinking that 50% of average base earnings tax free should be more than enough. (Previously I had been considering LTD so as to avoid a statement of health if I did decide I needed it later).
Am I oversimplifying this decision? Tell me why I’m wrong, and what you and your family have decided to do with this extra coverage. Thanks!
Here’s my thinking. I’ve got around 900 sick trips. So I’ve got plenty to bridge the 60 days before loss of license kicks in.
LTD adds another $2500 per month on top of Loss of License but premiums are about 1TFP per month to insure that amount. We don’t live an extravagant lifestyle so I’m thinking that 50% of average base earnings tax free should be more than enough. (Previously I had been considering LTD so as to avoid a statement of health if I did decide I needed it later).
Am I oversimplifying this decision? Tell me why I’m wrong, and what you and your family have decided to do with this extra coverage. Thanks!
03-26-2024, 08:49 AM
#2
Gets Weekends Off
Joined APC: Mar 2017
Posts: 3,659
I will be signing up. I dont have a large stash of sick trips and honestly, you just never know what might happen. It will all come down to personal risk and for me, on this issue, my risk tolerance is low. I also like how the rate is adjusted monthly based on earnings, so you are not always paying one flat rate.
03-26-2024, 11:01 AM
#3
Gets Weekends Off
Joined APC: Oct 2006
Posts: 2,846
Originally Posted by ZapBrannigan
Ok, after listening to the podcast and reading the material SWAPA sent out, I’m leaning towards dropping STD/LTD altogether.
Here’s my thinking. I’ve got around 900 sick trips. So I’ve got plenty to bridge the 60 days before loss of license kicks in.
LTD adds another $2500 per month on top of Loss of License but premiums are about 1TFP per month to insure that amount. We don’t live an extravagant lifestyle so I’m thinking that 50% of average base earnings tax free should be more than enough. (Previously I had been considering LTD so as to avoid a statement of health if I did decide I needed it later).
Am I oversimplifying this decision? Tell me why I’m wrong, and what you and your family have decided to do with this extra coverage. Thanks!
Here’s my thinking. I’ve got around 900 sick trips. So I’ve got plenty to bridge the 60 days before loss of license kicks in.
LTD adds another $2500 per month on top of Loss of License but premiums are about 1TFP per month to insure that amount. We don’t live an extravagant lifestyle so I’m thinking that 50% of average base earnings tax free should be more than enough. (Previously I had been considering LTD so as to avoid a statement of health if I did decide I needed it later).
Am I oversimplifying this decision? Tell me why I’m wrong, and what you and your family have decided to do with this extra coverage. Thanks!
03-26-2024, 04:17 PM
#5
Gets Weekends Off
Joined APC: Apr 2013
Posts: 3,445
I am ditching it. It's relatively expensive for the benefit and I am willing to bet that it will get into an insurance price spiral since many will do the calculus on getting it and punch out after getting a solid MBE baseline.
My household is low cost living. We spend most of our extra money on travel and that is all discretionary. I still have the same house I have had for the last 13 years and drive a 20 year old car. 50 percent of MBE plus my military check of the month is more than enough to see us through with an extra cushion.
My household is low cost living. We spend most of our extra money on travel and that is all discretionary. I still have the same house I have had for the last 13 years and drive a 20 year old car. 50 percent of MBE plus my military check of the month is more than enough to see us through with an extra cushion.
03-26-2024, 04:23 PM
#6
Gets Weekends Off
Joined APC: Dec 2017
Position: 737 FO
Posts: 952
Originally Posted by e6bpilot
I am ditching it. It's relatively expensive for the benefit and I am willing to bet that it will get into an insurance price spiral since many will do the calculus on getting it and punch out after getting a solid MBE baseline.
My household is low cost living. We spend most of our extra money on travel and that is all discretionary. I still have the same house I have had for the last 13 years and drive a 20 year old car. 50 percent of MBE plus my military check of the month is more than enough to see us through with an extra cushion.
My household is low cost living. We spend most of our extra money on travel and that is all discretionary. I still have the same house I have had for the last 13 years and drive a 20 year old car. 50 percent of MBE plus my military check of the month is more than enough to see us through with an extra cushion.
I’ll sell you my 15 year old Lexus. Treat yourself. You’re in the left seat.
03-26-2024, 06:00 PM
#7
Gets Weekends Off
Joined APC: Oct 2006
Posts: 2,846
Originally Posted by Crockrocket95
Jesus you all need to call out more.
When you credit 140/mo, you get nearly a 3 day every month into the sick bank. I don’t need to call off every month….so the bank grows.
If I were a commuter, the sick bank would be much lower.
03-26-2024, 10:02 PM
#9
Line Holder
Joined APC: Mar 2018
Posts: 91
Originally Posted by ZapBrannigan
Ok, after listening to the podcast and reading the material SWAPA sent out, I’m leaning towards dropping STD/LTD altogether.
Here’s my thinking. I’ve got around 900 sick trips. So I’ve got plenty to bridge the 60 days before loss of license kicks in.
LTD adds another $2500 per month on top of Loss of License but premiums are about 1TFP per month to insure that amount. We don’t live an extravagant lifestyle so I’m thinking that 50% of average base earnings tax free should be more than enough. (Previously I had been considering LTD so as to avoid a statement of health if I did decide I needed it later).
Am I oversimplifying this decision? Tell me why I’m wrong, and what you and your family have decided to do with this extra coverage. Thanks!
Here’s my thinking. I’ve got around 900 sick trips. So I’ve got plenty to bridge the 60 days before loss of license kicks in.
LTD adds another $2500 per month on top of Loss of License but premiums are about 1TFP per month to insure that amount. We don’t live an extravagant lifestyle so I’m thinking that 50% of average base earnings tax free should be more than enough. (Previously I had been considering LTD so as to avoid a statement of health if I did decide I needed it later).
Am I oversimplifying this decision? Tell me why I’m wrong, and what you and your family have decided to do with this extra coverage. Thanks!
03-27-2024, 02:48 AM
#10
Gets Weekends Off
Joined APC: May 2018
Posts: 751
Originally Posted by flyguy81
Saved it up so I could ditch STD. Under last contract you’d need 6 mos of sick time to float you to LTD…so that’s around 600 tfp. Then a little extra so you don’t come back to nothing.
When you credit 140/mo, you get nearly a 3 day every month into the sick bank. I don’t need to call off every month….so the bank grows.
If I were a commuter, the sick bank would be much lower.
When you credit 140/mo, you get nearly a 3 day every month into the sick bank. I don’t need to call off every month….so the bank grows.
If I were a commuter, the sick bank would be much lower.
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