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Disability Income Retirement Security

What is DI Retirement Security?

You may have heard of disability income insurance. It helps replace a portion of your income if you become too sick or hurt to work. DI Retirement Security takes this protection one step further by helping you continue to save for retirement in the event of a disability, so you can focus on your health and worry less about your financial future.

Two older adults sitting at a kitchen table and laughing while looking at old photographs

How does DI Retirement Security work?

As with other insurance policies, you make scheduled premium payments. Then if you experience a major illness or injury that prevents you from working, your policy makes monthly deposits in a trust.

These deposits are invested based on your risk tolerance, and they can continue until your choice of age 65 or 67. When you reach that age, the money in the trust is paid out to you in monthly installments.

Why is DI Retirement Security important?

You’ve likely spent years—maybe even decades—saving for your retirement dreams and honing your retirement-saving strategies. DI Retirement Security can help those dreams become a reality, even in the face of unexpected challenges.

You might think most disabilities stem from uncommon accidents. But they typically involve common, long-term illnesses, like cancer or heart conditions. These could make you unable to work—and prevent you (and your employer) from contributing to your retirement plan.

The impact to your retirement savings could be significant. For example, if you begin saving for retirement at age 30 and all goes well, you could save about $2.2 million by age 65. But if your health changes at age 40 and you can no longer work, your retirement contributions will likely stop, potentially costing you more than $1 million over time.

DI Retirement Security helps ensure that even if life throws you a curveball, you don’t have to downsize your retirement plans.

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Funds invested with Bankers Trust are investments and involve risk, including possible loss of principal. Asset allocation and diversification do not ensure a profit or protect against a loss.

DI Retirement Security is issued as a non-cancelable, guaranteed renewable, individual disability income insurance policy. It is not a pension or retirement program or a substitute for such a program. DI Retirement Security is not available for anyone who is over insured based on Principal Life’s current Issue and Participation guidelines. It may not be available, or the benefit amount may be reduced for certain occupations if there is existing DI coverage with lifetime benefits. Additional underwriting guidelines may apply.

The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment, or tax advice. You should consult with appropriate counsel, financial professionals, and other advisors on all matters pertaining to legal, tax, investment, or accounting obligations and requirements.

This summary is not a complete statement of the rights, benefits, limitations, and exclusions of the coverage. For cost and coverage details, contact your Principal representative. Oregon policy HH750OR-2.

Insurance products issued by Principal Life Insurance Company®, a member of the Principal Financial Group®, Des Moines, IA 50392.