Add Comment Question: When you get severance pay, lieu of notice pay and vacation pay while in LTD, does the LTD insurance company take it for future payments toward your LTD or do they take this money for past payments they’ve give you? Answer: The insurance company does not take the severance. Instead, they reduce the LTD benefits you're owed moving forward by the amount of severance, etc., that you received. Your Comment * Your Email * Your Name * Your City Note, your name, city and email is not displayed on the website. It is used to notify you that we have approved your comment.