# Buyout yes or no?
**URL:** https://forum.resolutelegal.ca/t/buyout-yes-or-no/1564
**Category:** Disability Insurance
**Created:** [September 14, 2018, 11:18am UTC](https://forum.resolutelegal.ca/t/buyout-yes-or-no/1564 "2018-09-14T11:18:43Z")
**Posts on this page:** 3
**Page:** 1
### Author:  [@Mia](https://forum.resolutelegal.ca/u/Mia)
#### Post date: [September 14, 2018, 11:18am UTC](https://forum.resolutelegal.ca/t/buyout-yes-or-no/1564/1 "2018-09-14T11:18:43Z")
Hello,
I shall try to be short:
I have been on LTD since 2014
My CPP has been recently approved and lump sum has been paid which I informed my insurence immediately
They request full amount and $1000 more becouse payments overlapped last month.
I am 58. Ltd is until 65. Not taxable and is $905 a month.
I had lots of catching up to do with my bills since I stopped working everything went to collections
I spent some of the CPP money to catch up with rent and bills
Can I negotiate with LTD insurence and let them know I have spent some of the lump sum money.
Should I ask for buy out?
I am very concerned how to work this out as my income is very low.
Please help.
Thank you😁
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### Author:  [@jammer](https://forum.resolutelegal.ca/u/jammer)
#### Post date: [September 14, 2018, 1:05pm UTC](https://forum.resolutelegal.ca/t/buyout-yes-or-no/1564/2 "2018-09-14T13:05:58Z")
Asking for a buyout is usually a bad idea because it can raise red flags to the insurance company and lead them to cutting you off.
I’ve heard some people here mention a credit proposal.
I would get the free consult from Resolute:
> **[Free Consultation](https://www.resolutelegal.ca/free-consultation/)**
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---
### Author:  [@David\_Brannen](https://forum.resolutelegal.ca/u/David_Brannen)
#### Post date: [September 14, 2018, 7:08pm UTC](https://forum.resolutelegal.ca/t/buyout-yes-or-no/1564/3 "2018-09-14T19:08:18Z")
> [@Mia](#):
>
> Can I negotiate with LTD insurence and let them know I have spent some of the lump sum money.
> Should I ask for buy out?
> I am very concerned how to work this out as my income is very low.
I really advise people against asking for buyouts, unless this was first raised by the insurer. You have to have very strong reasons for doing this as you will get a fraction of the value future payments.
* * *
**David Brannen**
Disability Lawyer with Resolute Legal
The response posted above is based on the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with a lawyer, fully explain your situation, and allow the lawyer enough time to research the applicable law and facts required to give an adequate opinion. The basic information provided above is intended as a public service only, a full one-on-one discussion with a lawyer should be done before taking any any action. The information posted on this forum is available to the viewing public and is not intended to create a lawyer client relationship with any person. If you want one-on-one advice, please [click here](https://www.resolutelegal.ca/free-consultation/) to request a free consultation **or call toll free 1-877-282-5188 to speak with a member with our disability claim support team.**