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DI Retirement Security
DI Retirement Security helps individuals continue saving for retirement if they become too sick or hurt to work. It is issued as a non-cancelable, guaranteed renewable Individual Disability Income (DI) insurance policy (HH750). Now available for individuals working over 20 hours a week!
In the event of a disability, benefits are paid to an irrevocable trust where the funds are invested. Several investment options are available, including trust options, an annuity and mutual funds. Go to www.principal.com/bankerstrust for trust information.
DI Retirement Security (DIRS) may be offered in addition to Individual DI insurance issue limits.
- Those committed to saving for retirement
- Those who currently have group long-term disability (LTD) and/or Individual DI insurance
- Often sold to corporate executives, accountants/CPAs, attorneys, business owners, engineers and medical professionals
- Individuals working 20 or more hours a week.
- Minimum annual income to qualify: $76,000
- Issue ages: 18-60
- Occupation classes: Available to all
- Benefit Periods: To Age 65 or To Age 67
- Your Occupation Periods: 2 year, 5 year, To Age 65 or To Age 67
- Elimination Periods: 180 or 365 days
- Maximum monthly benefit (includes $50 monthly trust administrative fee; adjusts with IRS contribution guidelines):
- Individual paid: $4,550
- Employer paid: $5,850
- Available riders: Future Benefit Increase, Limitation for Mental/Nervous and Substance Abuse Disorders (MNSA), Cost of Living Adjustment
- Available discounts (not all can be stacked together): 10% Association, 20% Multi-Life1, up to 10% MNSA (in required states2), 10% Select Occupation, 10% Affiliation Discount3
- DI Retirement Security is not available to anyone who is over-insured based on Principal Life’s current Issue and Participation guidelines.
1 Available when three or more employees with a common employer purchase IDI solutions from the same producer.
2 Required on all DI business in specific states; optional on multi-life cases for other states.
3 Not approved in all states.
Key materials listed below.
Is your income protected - personal needs presentation (DI8610)
Use this presentation with consumers to highlight the need for income protection.
DI Retirement Security mailer (JJ1171)
This mailer-sized piece explains the benefits of DI Retirement Security to clients and prospects.
Key materials listed below.
DI Retirement Security Producer Presentation (DI9201)
For producers. This presentation covers the features and advantages of DI Retirement Security.
DI Retirement Security Program Profile (JJ1709)
Provides an overview of key details of DI Retirement Security including underwriting guidelines, policy features, sample premiums, sales ideas and more.
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DI9932 – 10/2018