
Meet David and Emily
Age: 35 and 37
Household Income: $165,000
Family: Two children
Health Status: Good health
Goals: Protect their family, their home and their business
Their Story
David and Emily are in their mid-30s with two children in middle school. Over the last decade they’ve been focused on achieving their dreams. They purchased their first home, grew David’s business, and funded Emily’s graduate school studies. They decided it was time to gain more insight into their finances and establish a strategy for the future. After searching for a financial advisor who aligned with their values, they made an appointment to meet with a representative who went through a needs analysis with them to learn more about their goals.
The analysis revealed that along with a $1.5 million need in coverage to protect their incomes, home mortgage, and fund their children’s futures should something happen to them, they could benefit from a policy that accumulated cash. David’s business was growing but was vulnerable to seasonal changes. Having access to the cash value they could use to pay for unexpected expenses was an attractive option.
Their representative suggested Whole Life Insurance policies for both David and Emily with laddered term life insurance riders to maximize their coverage and fit their budget.