The Disability Retirement Completion Plan
The purpose of The Disability Retirement Completion Program is to enable you to continue payments into your personal retirement and investment plans if an accident or illness prevents you from working - a benefit which is not provided by group and other disability insurance coverages.
More specifically, if you cannot work because of a disability, payments into your plan are discontinued and pension accruals into the pension plan stop. As a result, at age 65 when disability insurance benefits typically cease, you might face a financial crisis because of the reduction in your retirement funds and cash accumulations.
How the Disability Retirement Completion Plan Works
You can acquire a special disability income policy. The amount of your policy benefit is designed to replace the amount of contributions to your 401K and defined contribution plans.
Example
In addition, premiums are guaranteed to age 65 and cannot be increased, coverage cannot be reduced or canceled without your permission, and policies are 100% portable without any change in rates or benefits.
