Meet David & Samantha
David & Samantha's Background
Age: 32 and 36
Household Income: $100,000
Family: Two children
Health Status: Good health
Goals: Ensure their children were taken care of and their mortgage was covered
David and Samantha’s Story
David and Samantha are in their 30s. They are a dual-income family, with two kids and a beautiful home. They met with their Catholic Financial Life representative, who performed a needs analysis. They discovered they need $1,200,000 in coverage to help protect their income, mortgage and children’s tuition if something were to happen to them. The analysis also revealed the need to decrease their protection over the next 30 years as their mortgage is paid off, the children graduate from college and they get closer to retirement.
Their Catholic Financial Life representative was able to customize a solution using laddered Term Life Insurance policies to provide financial protection for their family at a cost they could afford.
Health Status: Average health
Goals: Ensure his parents have financial protection to cover his student loans
Marcos is a recent college graduate with a large sum of student loans. If something were to happen to him, he wants to ensure his parents have enough financial protection to continue paying off his student loans.
Marcos meets with his Catholic Financial Life Advisor to discuss his options. With money being tight as a recent college grad, he selects a 10-year Term Life Insurance plan. This offers affordable premiums and the option to convert to a Permanent Insurance policy down the road.