Family: One child
Health Status: Good health
Goals: Ensure her son is taken care of if she passed away
Rachel just turned 45. She enjoys balancing her teaching career with parenting her eight-year-old son, Mikey. Rachel has been thinking of purchasing life insurance for a while now. She knows she wants to always have coverage in place to cover her funeral and any end-of-life expense. She
also needs to replace her income for Mikey’s benefit if she passed away before she retired. Rachel’s parents recently retired, and she’s heard them talk about having to live on a “fixed income” in retirement and watching their bills. When she talked to her Catholic Financial Life Advisor, she brought up her concerns about bills in retirement. Her Advisor showed her a 20/20 plan — a 20-Pay Whole Life Insurance Plan with a 20-Year Term Rider. The 20-Pay Whole Life Insurance would be her “forever” protection, while the Term Rider would replace her income if she passed away before retirement. Her favorite part is the plan’s premiums would retire when she did.
Family: Wife and one child
Health Status: Average health
Goals: Provide protection for his child without a lifetime of premiums
Brian and his wife, Christina, recently got married. A few years later, they welcomed Emma, a precious baby girl into the world. They wanted to ensure Emma was protected without having to pay premiums for her entire life.
Wanting to ensure Emma’s financial future, they called their Catholic Financial Life Advisor. He provided various solutions but the 20-Pay Whole Life Insurance Plan stood out. They loved the idea of the lifetime of coverage without the lifetime of premiums.