Improve retirement readiness and financial wellness.
Fulfill fiduciary obligation to monitor loan investments and preserve plan assets.
Reduce the risk of plan audits.
Protect account balance, investing for a successful future retirement.
Have peace of mind during financial emergencies, including softer landing after job loss.
Improve decision-making through “just-in-time” financial counseling.
How It Works
Easy to add to your plan: Make a simple update to the loan policy — no plan amendment is necessary.
Automatic: No additional action required by participant when taking a new loan;coverage is issued when a loan is initiated, and is insured by an A.M. Best “A”-rated insurance carrier.
Low-cost: Fees are a fraction of the cost of retail insurance and may be participant- or sponsor-paid outside of plan assets. If participant-paid, premiums are deducted from payroll each pay period along with loan repayments.
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