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