Retirement plan disability insurance: A savings safeguard

How to explain the need:

Stop and think. If you were disabled and struggling to make ends meet on less than your full income, what is the first thing that most people stop doing? Yes, you guessed right — most people stop saving money. After all, they barely have enough to cover today’s expenses. However, it’s dangerous to stop saving for retirement. That’s why this protection is so critical. If you become disabled, the plan continues contributing to a retirement fund. You will have peace of mind knowing that a comfortable life awaits, after retirement. Do you see why this is such an important safeguard?

How to explain the product:

Retirement plan disability insurance continues contributions to a retirement plan even when there is a total disability. Once claimed, a policy pays benefits to a trust, where the insured can invest the funds. Then at age 65 or 67, the trust proceeds are paid to the insured. Some investments that are commonly part of a policy include pension plans, stock plans, 401(k)s, IRAs and profit sharing.

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