Keeping Your Retirement Off The Disabled List
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When people become disabled and can no longer work, their main concern is finding enough money to live comfortably. Often, they neglect to think about funding retirement, even though contributions to 401(k) and other pension plans stop while they're off the job.
A few disability insurers are looking to correct that deficiency. Within the past year, UNUM Life, Paul Revere Life, Chubb Life, and Provident Life & Accident have begun offering policies--separately, or as a rider to a regular disability plan--that give you a monthly or annual sum for retirement expenses. UNUM will even set aside money for a spouse until age 65 if the policyholder dies.