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RETIREMENT CONTRIBUTION PROTECTION
Through this program you have the ability to guarantee that you can have money set aside for your retirement if you become sick or hurt. The benefits of this policy are based on a percentage of your income (not any current amount of monies that you are contributing to a retirement). Without this type of protection a disabled physician with a prolonged infirmity would only be entitled to disability income benefits which normally end at age 65. At that time the professional would only have access to a greatly diminished retirement account due to the lack annual contributions over the period of disability.
Through this program you have the ability to guarantee that you would have funds set aside for you and your family in the event you cannot work as long as expected. In the event of along term claim monies would be contributed into a fund for each month during a claim. You will have a choice of where this money is invested.
This benefit will be provided in addition to any existing group or individual disability coverage and can prove be a valuable source of disability coverage for highly compensated physicians and executives that current have the reached the industry¹s maximum benefit levels.
To request a personalized proposal based on your income please click here. To speak with a representative please call 800 214 7039 or email at proposals@insmedinsurance.com.
| Maximum Monthly Benefit |
Up to 15% of your current annual income not to exceed $45,000 per year (with individual pay). |
| Participation with Other Coverage |
There is no offset created by any other coverage. |
| Definition of Total Disability |
Inability to perform the substantial duties of your own occupation and are not working in another occupation. |
| Maximum Benefit Period |
Age 65 |
| Waiting Period |
180 or 365 days of total disability. |
| Future Increase Opportunities |
Automatic benefit increases are available to help keep your policy up-to-date. |
| Plan Rates |
Rates vary based on such factors as the insured's age, specialty, smoking status and benefit amount. |
| Premium Discounts |
10% Association Discount.
10% Mental Nervous Discount (required)* . |
| Age Eligibility |
You must apply prior to age 60. |
*DI Retirement Security is issued as a non-cancelable, guaranteed renewable, individual disability income insurance policy. It is not a pension or retirement program or a substitute for such as program, DI Retirement Security is not available for government employees, individuals with Group LTD coverage that includes a "retirement supplement," or anyone who is over insured based on Principal Life's current issue and Participation guidelines. It may not be available or the benefit amount may be reduced for certain occupations if there is an existing DI coverage with lifetime benefits. Additional underwriting guidelines may apply. DI Retirement Security is currently not available in CA.
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