Retirement Plan Disability Insurance
Retirement Plan Disability Insurance will continue to make contributions to your retirement plans even if you were to become totally disabled.
The Importance of Retirement Plan Disability Insurance
If an individual experiences a disability it can be difficult to make ends meet on an income that is substantially smaller than their regular salary. When you run out of extra funds, the first thing that you are likely to do is stop saving. While disabled, if all the income you have is put towards your daily living expenses, it can be impossible to continue (or start) saving for retirement. This is why it is so important to sign up for a Retirement Plan Disability policy; it will continue to contribute to your retirement plan. You will have peace of mind that there will still be money waiting for you after retirement.
Understanding Retirement Plan Disability Insurance
If you become disabled a policy will pay benefits to a trust, and you the insured can invest the policy proceeds. At age 65 or 67, the trust can then pay you, the insured, the trust proceeds. Investments that are commonly a part of a retirement disability policy are as follows: pension plans, 401k, stock plans, profit sharing and IRA’s.