Household Income: $40,000
Family: Divorced with three adult children who have families of their own
Goals: Ensure his daughters have enough funds to cover the majority of his funeral costs
James divorced years ago and hasn't struggled to manage his finances since then. His life insurance policy was through work but expired when he retired. He has some money saved for retirement but will be relying on social security and his disability income. He is worried that he won't have enough saved for funeral costs and wants to make sure his three daughters aren't burdened with the cost of his funeral.
James, along with his daughters, purchased a Final Expense Policy.
Meet Vonnie and John
Vonnie and John’s Background
Age: 60 and 64
Family: Three children and six young grandchildren
Goals: Ensure her family is protected
Vonnie and John’s Story
Vonnie and John have had a lot of major life changes occurring. They youngest child just got married, they are looking to retire in the next five years and their youngest grandchildren was just born. They have small life insurance policies to cover their mortgage if anything would have happened to them, but they are worried those policies won't be enough to cover all funeral expense and leave a financial legacy for their grandchildren.
They spoke to their Catholic Financial Life Advisor and each purchased a Final Expense Insurance policy from Catholic Financial Life.