DI Question Rider to Pay Retirement Contributions

[GAHEALTH]

Besides Guardian, are there other DI contracts that have a provision to cover contributions to a retirement plan?

 

[GAHEALTH]

Does anyone know of other companies that offer this option?

 

[Tahoe Ray]

Does anyone know of other companies that offer this option?

Metlife................

 

[GAHEALTH]

Metlife................

They have a rider that contributes to a benefit planfor retirement in addition to the regular payout for lost wages?

 

[LGilmore]

A DI policy generates X amount of dollars when on claim. I have never noticed in their DI plans a specific rider for qualified plans. Could you cite what you are referring to?

DI policies create a pool of money to be used by the insured in any way they choose so I am not following what you're citing?

Are you referring to overhead expense?

 

[Tahoe Ray]

They have a rider that contributes to a benefit planfor retirement in addition to the regular payout for lost wages?

It doesn't contribute directly to the benefit plan but it contributes an amount equal to what the insured was saving (if approved) to a trust that is accessible based on a qualifying event (retirement, death, age 65 etc.) It is called their "Retirement Savings Disability Income Insurance".

 

[VolAgent]

Mass has or at least had a rider for this. A pool would go into an account to be used in retirement. I don't remember all the details. Since it wasn't an IRA or 401k, there were some tax implications.

 

[dgoldenz]

Principal has it too

 

[David Block]

Standard has an excellent product and I believe, like Principal, it can be sold stand-alone. It is very important when dealing with DI to work with a knowledgeable and established GA. Too many agencies push product but know very little of the nuances and underwriting dilemmas.