When long term disability benefit claims are denied, the best option is usually a lawsuit, which almost always results in a settlement for both past benefits owed and payment of LTD benefits into the future.
The settlement value of your long term disability claim is determined by many factors, including those listed below. An accurate assessment cannot be achieved by a calculator alone. You should instead consult a Long Term Disability Lawyer for advice. To use the long term disability settlement calculator, enter your age and monthly benefit amount. Then choose a settlement discount ranging from 25% to 75% to account for the factors below.
When approximating settlement value, the starting point is to determine the number of months from the date of denial to the benefit end date, usually age 65. This number must then be reduced by a present value discount calculation to account for the time value of money, because the combination of interest and inflation makes money paid today worth more than money paid at a later date. Once this discounted value of the LTD policy is known, further discounts must be applied to reflect various contingencies, including:
There are of course other factors which will affect the value of your long term disability claim. This calculator is therefore limited to roughly estimating a settlement value. For a more accurate assessment, contact Michael Jordan today for fast, free long term disability legal advice.
About The Author
Michael Jordan is a long term disability lawyer with more than 17 years experience litigating all types of insurance claims. He is a founding partner of the Bay Street firm Jordan Honickman Barristers. Michael represents clients across all of Ontario, with satellite offices in Ottawa and London.
Direct Cell: 416-460-6823
This LTD Settlement Calculator is for illustrative purposes only. It is not legal advice.