Protect your current
and future income.
We insure assets like our homes and cars. But often, we overlook our biggest asset, our ability to earn a salary.
No one ever expects to become sick or disabled, but the fact is it happens to one out of three people. So what if it happens to you and you’re out of work for a year or two — or even permanently?
Could you support your family and maintain your current lifestyle without a steady paycheck? Could you continue contributing to your 401(k)? Or what if, after you retire, a drop in the stock market reduces your investment-based income?
Tier One Capital of Georgia, LLC has a variety of insurance solutions to protect your expected earnings.
The amount of income you could lose if you’re currently 40 years old, earning $150K per year, and have a disabling health event at the age of 56.
Let us show you how to protect your expected earnings.
Employer-provided disability insurance sounds good but can leave you underinsured. Frequently, these policies don’t cover as much as you’d expect—especially if you’re in a high-income bracket or count on bonuses or commissions. Most will only cover up to a certain amount of your salary and don’t include income expected from bonuses or commissions. You will also pay income tax on money you receive from this type of disability claim, further reducing the amount you’ll have to live on.
By getting your own disability insurance, you can ensure all your anticipated income is covered, including bonuses and commissions. And the money you receive from a claim will be tax free, as long as you don’t deduct the policy premiums on your tax returns.
If you ever need to make a disability claim, you shouldn’t have to worry about money on top of an illness or injury. We’re happy to look over your current policy to see if you have the right amount of coverage.
Retirement Contribution Insurance
If you are unable to work, would you still be able to contribute to your retirement accounts? Retirement contribution insurance lets you continue building your retirement savings up to the age of 65.
Permanent Life Insurance
Permanent life insurance provides a volatility buffer for people who rely on investments for their retirement income. That’s because permanent life insurance policies maintain their value regardless of market fluctuations. Instead of eating into your capital, you can borrow against your permanent life insurance to supplement your income until the market recovers – without incurring any additional taxes.