Planning for What Matters

Jade, 45, is happily married with two children and is currently the breadwinner of her family. Jade has concerns that if anything were to happen to her; would her family be well taken care of financially? Jade has a conversation with her Financial Professional, Matthew, and decides to apply for life insurance. During the underwriting process, she learns she is unable to obtain this type of coverage due to her underlying heath conditions. In addition, she discovers that based on her health and family history, she is considered a high risk for a long-term care event in the future. Jade reaches out to Matthew to see if there are any alternatives that would provide her and her family with the financial protection they need.

Matthew has a discussion with her about annuities and the benefits they can provide in addition to principal protection and income. He explains in detail that some annuity products offer a long-term care benefit along with a death benefit; he also clarifies that in purchasing the annuity, there is no underwriting process, so her underlying health issues will not affect her eligibility to obtain coverage. Should she experience a long-term care event, an annuity will provide her with a pool of funds specifically designated to cover these costs. Upon her passing, Jade’s beneficiaries will receive any remaining assets in the annuity in the form of a death benefit. 

Overall, Jade is extremely relieved and thankful that Matthew took the time to research and find a comprehensive strategy for her situation. Jade now has the confidence that no matter what her future holds, her family will always be taken care of. 

Spring Into Your Financial Future