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Retirement Protection Plus Program. Protection for Retirement Plan Contributions. Disability insurance Policy Forms 1400 or 1500 underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company - PowerPoint PPT Presentation
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Retirement ProtectionPlus Program
Protection for Retirement Plan Contributions
8564-11-092009-11697
Disability insurance Policy Forms 1400 or 1500 underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company
of America, New York, NY. Policy provisions and features may vary from state to state.
Retirement Protection Plus is not a pension plan or a substitute for one.
2
Your Retirement Plan
• Saving for retirement is one of the most critical financial issues that you face
• But to assure an adequate retirement income, you must be able to work and contribute to your plan
3
A Question
• If sickness or injury made you unable to work, what would happen to your retirement plan?
4
Your Retirement Plan is Vulnerable
• Contributions continue only as long you remain on the payroll.
• Group and individual disability insurance do not cover retirement plan contributions
5
What’s the Impact?
Individual age 35 works to age 65 and makes $1,500 monthly contributions to a defined contribution plan.
*Assumes annual rate of return of 8% on retirement contributions with no disbursements taken prior to age 65. This rate is for Illustration purposes only. Actual results may vary.
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
35 40 45 50 55 60 65Age
$2,235,539*
6
Retirement Protection Plus
• Helps to protect retirement income in the event of a serious disability
• Pays benefits to replace lost retirement plan contributions
7
How It Works
• Funded by an individual disability income policy, or by a special rider attached to a policy
• Can replace 100% of current retirement plan contributions, including employer contribution
• Not a pension plan or a substitute for one
8
How It Works
• Benefits are paid directly into a special trust
• Trustee is Berkshire Bank, Pittsfield, MA
• Trust assets are invested by trustee at your direction
• Trust assets distributed at age 65
9
Retirement Protection Plus
Program benefits…
• Protect your retirement savings
• Discounted premium cost
• You own the policy
10
Next Steps
• Determine the level of protection you want
• Complete an application
Retirement ProtectionPlus Program
Protection for Retirement Plan Contributions
8564-11-092009-XXXX
*Disability income products underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America,
New York, NY (Guardian). Product provisions and features may vary by state.
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