Why is it important to
reconsider Income Protection in the event of a disability? After all, we are now talking about investment planning. How do the two interrelate? Simply put, with investments, you may elect
to do a Qualified retirement plan such as an IRA. You should definitely consider what would
happen to your retirement plan with a long or even short term disability. Such a catastrophe could significantly derail
your retirement goals. A new product has
been introduced by a well-known, highly rated company.
The company will guarantee
that in a case of a disability, it will pay you up to $500 a month as contributions to your retirement plan.
In effect you are protecting your retirement contributions. This is even better in that this company
offers a NON-CANCELLABLE, GUARANTEED RENEWABLE policy. Here are a few other key
points to consider.
·
You can participate up to $4,250 per month of
your earned income (or $51,000 annually).
·
It will GENERALLY
protect your OWN OCCUPATION. This when
working with your own personal disability policy prevents the company from
mandating you to get another job outside your own, regular position.
·
Some plans may
even provide a GUARANTEED ISSUE
As with anything else,
please consult your accountant and/or your attorney. In closing, we can provide you with all the information
you need.