Do you have clients who’ve maxed out their Disability Insurance coverage and could possibly be leaving their retirement unfunded if they got sick or hurt?
Try DI Retirement Security (DIRS). It provides coverage for individuals to help them continue to make retirement contributions if they become unable to work due to disability.
Since retirement contributions are not necessary to qualify for this coverage, any individual in a qualifying occupation (class A through 5A Select) earning at least $76,000 per year can apply for DIRS.
Coverage also does not diminish eligibility for regular individual Disability Income (DI) Insurance. This means an individual can qualify for DIRS even if he or she already has a regular individual DI policy up to the maximum issue and participation limits.
If DIRS is written as a stand-alone policy with no other DI coverage applied for or in force, then simplified underwriting guidelines are used. If the client applies for other DI coverage along with the DIRS application, full underwriting applies. Employer groups that qualify for a multi-life discount also receive the discount on DIRS policies.
For more information contact your Disability Income Insurance Specialist today.