I wish to know how to state “employment status” while on disability especially for financial institutions asking for it when opening bank account or getting a new card etc.
After working for over 20+ years, I have been on LTD and CPPD for 7+ years, but was technically employed by the employer till recently. Employer was providing extended health and pension benefits and LTD insurer (through employment) was paying monthly LTD benefits. To accept settlement from the insurer, I had to resign from employment.
So, now I am unemployed and on CPPD. My question is what should I say for “Employment Status” question when opening a bank account or getting a new card etc (or) any other place they require this information legally.
Also, Now that I am not employed by my employer any more, Do I need to update “Employment Status” for all existing bank accounts with the financial institutions?
Should I mention Employment Status as,
Not working ( or Unemployed). — Not sure if this would trigger any queries for existing assets that have been acquired over 20 years of work life before disability.
On Disability ( or CPPD) - Not sure if this is a valid status wherever they ask for this information?
Retired (or Voluntary retirement or Voluntary retirement for health reasons)
I wish to hear from forum members on how to deal with this question.
Thanks very much for all the help in advance.