The settlement value of your long term disability claim is determined by many factors. An accurate assessment cannot be achieved by a calculator alone. You should instead consult a Long Term Disability lawyer for advice.
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. 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. 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 above factors.
This LTD Settlement Calculator is for illustrative purposes only. It is not legal advice. Michael Jordan is a Toronto LTD lawyer with additional offices in Ottawa and London, serving all of Ontario. He has more than 15 years experience litigating long term disability claims. Contact Michael for an assessment of your claim.
Don’t let the insurance company get away with an unfair denial of your LTD claim. Call now to speak directly with Michael, or complete our confidential form for a quick response, usually within 15 minutes. Michael will guide you through the claims and appeals process, and answer any LTD questions you may have, free of charge.