If you are already collecting benefits, we often negotiate lump sum buyouts on behalf of our clients. And a lump sum buyout is essentially a lump sum amount of money which a disability carrier will agree to give you in exchange for you surrendering your policy. Now there is no requirement whatsoever for the disability carriers to buyout your policy and not every single long term disability carrier engages in lump sum buyouts. However there are a few of the big companies that do engage in these lump sum buyouts.
We probably negotiate around 15 to 20 lump sum buyouts a year for clients and we assist the clients with advising them as to what the appropriate amount would be for a buyout, and then go forward in negotiating through our contacts with many of the disability insurance companies to get them a maximum buyout for their disability policy.