Retirement brings a number of profound changes to your life, but chief amongst them is how your income is derived. With folks in America getting ready to retire as early as 60 years old, it’s important for those considering this momentous step in life to start their preparations correctly and effectively.

Today, we’ll look at a few tips that soon-to-retire Americans can utilize during this multifaceted phase of their lives.

When getting ready for retirement, you should:

  • Consider your post-employment goals -Setting objectives for yourself – like residing in a certain area or doing particular activities – is a great way to go about this process, as working toward a goal can help you focus. Another way of looking at this is to set a specific amount of money you want to save for retirement.
  • Examine your assets and liabilities – Taking stock of your financial standing is absolutely vital, as this will influence how you are going to live when you retire. Settling any outstanding debt obligations is helpful, as these will become an increasingly larger drain as you stop bringing home paychecks. You’ll also want to look into the state of your retirement accounts and Social Security account to see what kind of income you’ll actually be collecting.
  • Make plans and stick to them – When it comes to retirement plans, consistency is key. Once you’ve decided what kind of post-employment life you want to have and the goals you will strive for, you need to develop strategies and plans for doing so. It takes perseverance, but with time and luck you’ll be able to enjoy the retirement you deserve.

The Solution: Disability Retirement Protection

There’s a special kind of disability income protection that will cover your retirement contributions in the event of your disability. In addition to the income you would receive from your disability policy, this special program would make contributions to a special trust in your name with a trust company, with various options to invest in similar to a retirement plan. The funds will build up and at age 65 you can withdraw the funds, similar to a retirement plan.  If you die before age 65 the value in the account would go to your named beneficiary.

Not only that, you can also include a provision that will increase the deposits into the retirement account based on inflation so the deposit amount paid by the insurance company on your behalf can increase.

How Much Disability Retirement Protection can I Get?

You can apply for additional disability insurance to cover your pension contributions for 100% of the amount that you and your employer put into a retirement program.  This is usually limited to a benefit of $42,000 per year (paid as $3,500 per month).  In some cases it can go higher if you’re over age 50 and are using a “catch-up provision.”

Which Insurance Companies do This?

There are three major insurance companies that insure your retirement contributions
in case of disability.  It can be issued as a separate policy or as a rider to your disability income policy.  The experts at can advise you on the differences, which one(s) make sense and get you quotes for this important coverage. Just call us toll free at 866-691-0100 or email us and let us know you’re interested in disability retirement protection and we’ll get to work on it for you.

What if you have all the disability insurance that you can get based on your income already?

Disability retirement protection may be an answer if you are a professional who has “maxed out” his or her coverage i.e. the insurance companies won’t give you more disability insurance even though your income is not covered fully. Insurance companies have maximum issue limits. No matter your income, some won’t give more than $10,000 per month or $15,000 per month. This type of coverage is issued somewhat independently of your existing insurance. So, if you have hit a ceiling but you and/or your employer do make contributions to a pension plan, here’s an opportunity to get more.

Protecting yourself financially from unforeseen events is another important part of this process. Life insurance is useful for taking care of your family’s economic concerns when you’re gone. To learn more about the different coverage options available in today’s diverse market, visit today.

Richard Reich

CEO - Licensed Agent

Richard Reich CEO and Licensed agent

In my 20+ years as an independent life and disability insurance broker, I have personally assisted thousands of clients with their life and disability insurance needs.  Being independent, I represent many highly-rated insurance companies and, because I am not beholden to any one insurance company, my focus is to find the right company and policy for each individual client. I believe that when people shop for insurance (or anything else, for that matter) on the Internet, they are looking for a simple, non-intrusive, non-pressure method of doing so.  I strive to treat my prospective clients with the utmost respect and I believe an educated prospect can make the right decision without sales pressure. Please feel free to contact me at your convenience.