RAI

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Your NADA membership offers a unique program that links two employee benefits, resulting in financially secure employees. Through NADA Insurance, we offer an insurance solution to compliment your qualified retirement plan, adding additional peace of mind for your employees.

Retirement Accumulation Insurance (RAI)

A participant’s retirement plan takes years to fund, but what happens if those years are cut short? Should a death occur before retirement age, the retirement benefits could be far less than anticipated. RAI helps to fill in that retirement gap. With your retirement plan in mind, this program was developed to provide higher coverage during the “starting out years”, protecting love ones should the unthinkable happen.

How much does RAI Cost?

RAI is economical.  Annual premiums for coverage are based on each participant’s compensation, up to a maximum comp level of $40k. Therefore, the annual premiums charged per participant at the highest level of coverage are capped at $300, but the benefit is based on $100,000 maximum compensation level. That equates to significant premium savings for your key employees!

This dealer-paid benefit provides 3 levels of coverage to choose from and is designed to cover all employees who are eligible for your qualified retirement plan. The implementation process is easy and requires no underwriting, and ongoing reporting is done quarterly.

Cost per $100 of Compensation (Based on Annual Max Compensation of $40,000)
Choice of Programs Annual Maximum Premium
Plan Level 1 - $0.25 $100
Plan Level 2 - $0.50 $200
Plan Level 3 - $0.75 $300

 

Get Started Today! 
Sign up for coverage: RAI Enrollment Form 

RAI Coverage Chart
Coverage changes with age and salary: Schedule of Benefits

Beneficiary Form
Distribute to eligible employees: NADA Insurance Beneficiary Form

We are here to help. Please email Deborah Stevens with questions.