This rate is for illustration purposes only. *Assumes an annual rate of return of 8% on retirement contributions with no disbursements taken prior to age 65.
Additionally, if you are no longer working for a company because of disability, your former employer would not be able to put money into your retirement plan, even if they wanted to, because you are no longer an employee.Ī long term disability can reduce the funds you have in retirement significantly resulting in you having a reduced retirement lifestyle. If you became totally disabled, even if you had adequate group plus individual disability protection that would pay benefits to 65 or 67 would you be able to still put money away to save for retirement? Chances are you would likely need all of your disability benefits to live on since your disability benefits are likely going to be less that your pre disability after tax earnings. Need For Retirement Protection Plus (RPP): Retirement Protection Plus (RPP) FIO Rider Retirement Protection Plus (RPP) COLA Rider
How Retirement Protection Plus (RPP) Works Need For Retirement Protection Plus (RPP) Coverage The Retirement Protection Plus Program is available for this specific purpose and is issued with the Provider Choice IDI policy having the same base policy language and Non-Cancellable & Guaranteed Renewable provision. Rather, it is a program that provides disability income insurance to replace retirement plan contributions made by you and your employer in the event you become totally disabled. Retirement Protection Plus (RPP) is not a pension plan, qualified retirement plan, or a qualified individual retirement account, nor a substitute for one.
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