Two insurers have announced new ways to protect retirement.Two insurers have announced new ways to protect retirement savings in qualified plans during a worker's disability. Chattanooga, Tenn.-based UnumProvident enhanced its Retirement Income Protection provision available with group long-term disability insurance plans. The enhancement provides employers with a benefit payment to contribute to a qualified retirement savings plan Noun 1. retirement savings plan - a plan for setting aside money to be spent after retirement pension account, pension plan, retirement account, retirement plan, retirement program, retirement savings account , such as a 401(k), on behalf of a disabled employee. Alternatively, the payment may go into a flexible-premium deferred annuity Deferred Annuity A type of annuity contract that delays payments of income, installments or a lump sum until the investor elects to receive them. This type of annuity has two main phases, the savings phase in which you invest money into the account, and the income phase in which . Principal Financial, Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, , announced its Disability Insurance Retirement Security program, which pays benefits to an irrevocable trust Irrevocable Trust A trust that, once its setup, cannot be changed at all. Notes: This is to prevent fraudulent activities. See also: Exemption Trust, Trust, Unit Trust Irrevocable trust A trust that is unable to be amended, altered, or revoked. . In turn, the trust invests the money as directed by the insured. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion