Sunlife Buyout Question

I’ve read through past threads and i saw that David said Sunlife does not provide buyouts for the Federal Government plan.

Does anyone know if this is a rule or is it a possibility but rare? I still have 30 years until im 65.

I know everyone says that buyouts are rarely good but id rather do that than constantly worry if they will need an update and that update won’t be good enough.

Even if they do a buyout, it would be pennies on the dollar.
There is no guarantee you wouldn’t go back to work or die so they wouldn’t have to pay 30 years.

As far as I know, Sunlife still does not do buyouts of the Federal Government Plan as a matter of policy. This is a unique LTD Plan so it is outside of their normal procedures for how they would handle a LTD Plan.

However, even if we were talking about a general LTD Plan you are looking at very few years in a settlement for this type of thing. If a person is owed 30 years into the future for LTD, you might get 2-5 years max on a settlement of future claims. Again, I am not taking about your situation specifically because these things need to be looked at on a case by case, but that is they type of discount most people are looking at.

This is why I recommend strongly

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 to request a free consultation or call toll free 1-877-917-7050 to speak with a member with our disability claim support team.

against buyouts for people on approved claims except in very unique situations.