So now that we have an industry standard long term disability plan that appears to be pretty good, is there any reason to keep paying for the ALPA loss of license plan? From what I’m seeing, not worth it and makes no sense to me.............am I right?

 

Probably a good question for the R&I guys.

 

I actually called alpa on Friday. It’s correct that the alpa insurance is affected by our LTD. you basically don’t get both. If you buy up to let’s say 10k thru spirit that will reduce your alpa benefit. It won’t be in addition to the Spirit LTD monies. Th insurance lady at alpa I spoke with basically told be in light of our new LTD I didn’t need alpa coverage. Also the $50,000 lump sum for loss of liscense had some restrictions on it. Faa has to yank your medical and It takes more than a year to qualify for it , and if you are reinstated within 4 years of being disabled you don’t get the full 50k. In light of all of that I personally canceled all ALPA insurance. No need to pay for it. I also got rid of the term life insurance , seeing as how I dont have kids and nobody needs my income. My parents would get the 200k life insurance that spirit pays for if I were to die. Something to consider. Call alpa in Herndon, they were helpful...