Long-term disability insurance

As I get into my 30s and leave my carefree years solidly behind me I feel like there are a lot more downsides to this career than I kind of thought about ten years ago. $600 a month for long-term disability coverage (God knows if it will actually work) is a fortune. Does anyone have any insight into this? I know MEBA doesn’t offer it, hence why I’m paying through the nose, but how are the plans at private employers? I feel like if I could reliably put this money in the bank it would be worth ditching the pension system.

I would shop around, that seems hefty, but we also don’t know the particulars or the policy ie amount and longevity.

I’ll see what I find. When I was non-union a pretty hefty policy was standard, I’m going to see what GoM day rates are as well.

Some plans offered by employers go by age, some go by what you make per year. 600 a month does sound pretty steep for a youngster like yourself.

As compared to mine, that is crazy expensive. I work for a non union GOM company and the company pays 100% of my short and long term disability at 60 percent of pay. Company pays bi weekly $15+/- for short term and $22 for long term. Long term pays up to age 65 if you are below that age and up to 73 if you are over 65 at time of incident.

You mentioned giving up pension if it was worth it. I get a 6% match on my 401k with day 1 full vesting. What percentage of your pay does your union’s pension contribution amount to?

That doesn’t sound like any boat company. Are you on drill ships?

I have private long-term disability and it’s nowhere near $600 per month, and I’m 34. You’re getting ripped off.

Hi cap
My company does imr work, govt. Contracts

I looked into LTD years ago and it was very expensive on an individual basis then. I was uninsureable by most companies once I listed my occupation.Anyone can go on line and apply. Do so and you might be surprised at the cost. Apparently mariners are high risk. Luckily I usually had excellent group coverage.

Who is your provider