Because Your Retirement Plan Needs Protection as Much
as You Do
You know the importance of planning ahead, that is why you’ve
worked hard to set aside money for your retirement. But what if you couldn’t
continue to make regular retirement plan contributions due to illness or
injury? It’s important to put a fallback plan in place to insure
that contributions continue to be made to your retirement plan even if
you become disabled.
Retirement Protection Plus provides disability insurance protection for
retirement plan contributions. It is not a pension plan. Rather, it is
a program that provides disability income insurance to ensure your ability
to make retirement plan contributions until the age of 65. The goal: to
provide the insured with close to what he or she could have expected from
the retirement plan if he or she had not become disabled. In addition to
protection for your own retirement, it also makes an excellent benefit
for select employees – or your entire staff.
Berkshire Life is one of the very few companies
to offer disability protection specifically for retirement plan contributions. We issue a non-cancellable
and guaranteed renewable policy that pays the amount you contribute now – plus
the amount your employer contributes – into an irrevocable trust.
- The trustee, an independent Massachusetts-based bank, invests the funds, in consultation with you, until you reach age 65.
- Upon retirement, the trust assets are distributed to you to supplement whatever you receive from your original retirement plan.
- It is a separate policy, not a rider, so it may be issued independent of other disability coverage.
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