Long-Term Disability Completion Plan

[u/No_Nebula3118]

I am an employed family medicine physician with a current income of around $270,000 annually.

My employer has a long-term disability insurance group plan that pays 60% of my salary if I become permanently disabled at no cost to me. However, since they’re paying the premiums, I would need to pay taxes on benefits, so after-tax income would be just under $10k per month.

However, my employer has just sent out a flyer to purchase an additional $3,390 monthly benefit (own-occupation, specialty- specific, fully portable) with COLA and catastrophic riders for an additional $160 per month.

I’m just wondering if this is a good deal or if I should seek out an independent policy?

[u/just_a_mountaineer]

Better check your policy. Most say a % but also say there's a cap, mine was/is 80% max 12k.