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I was wondering, I have been disabled for the past 4 years and My insurance company has put me on LTD and asked me to file for disability through CPP, I was denied by them as a chiropractor said I will recover with continual treatment some where in my file. I did ask for reconsideration, but they said I need more medical opinions. My insurance company say ok and being good about it. I Have a possibility to start a business run by my Nephew and daughter. But I would need to have capital can I offer my Insurance company a buy out of my file? As being on a disability I will not be able to start the company with out a loan and cant get one as my income is too low.
If you ask your insurer for a buyout you will likely raise red flags and they will start inquiring about the extent of your disability. In my experience whenever someone approaches their LTD insurer for a lump sum settlement it backfired and the person ends up getting cut off benefits. Be careful.