Sell DI Insurance to Protect Savings in Retirement Plans
National Underwriter (Life/Health) (04/30/01) Vol. 105, No. 18 p.14; Mullen, Dennis P.

Dennis P. Mullen of Massachusetts Mutual Life urges individuals planning for retirement to augment their financial plan with disability insurance (DI). DI works to protect lost wages, provides return-to-work benefits, helps cover operating costs, and provides funds for small-business partnership buy-outs in the event of total disability. But Mullen says the coverage can also be applied to retirement savings. A few insurance carriers already offer DI coverage in this capacity, but a sizeable portion of the market remains untapped. The following markets all have potential: those to whom you have sold a mutual fund or annuity in the past; anyone who needs the coverage and is concerned about retirement planning; individuals already contributing to a qualified retirement plan but who are not aware of how disability could impact their retirement savings and investment plan; clients who already recognize the need for DI insurance and have purchased a DI policy; and new prospects who may have substantial retirement assets but who may not be aware of how their retirement planning could be impacted by disability.


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