Jodie and Dennis Danduran decided to purchase life insurance shortly after adopting the first of their five children. Though Dennis was the primary breadwinner, they wisely determined that Jodie, a stay-at-home mom, also needed a considerable amount of coverage because of what it would cost to pay someone to perform all her functions. That planning made all the difference when Jodie died suddenly of an aneurysm at 39. The insurance money has allowed Dennis to switch to a job that gives him more time to take care of the kids, and has also been used for living expenses and to set up college funds.
The clients testimonials are provided to engage you in thinking about life insurance. Of course, each client’s results will vary based on various factors, including the products or strategy selected and the performances of any sub-accounts. There is no guarantee that results similar to those portrayed in a testimonial will be achieved.
These videos are provided by the Life and Health Insurance Foundation for Education (LIFE), a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures. LIFE does not endorse any insurance company, product, or advisor. ©2012 LIFE All rights reserved. http://www.lifehappens.org
All guarantees are backed by the claims-paying ability of the insurer. Loans and withdrawals will reduce policy cash values and the death benefit, may have tax consequences, and may also negate any guarantee against lapse. If a policy is a Modified Endowment Contract, distributions (including loans) are taxable to the extent of income in the policy, and an additional 10% federal income tax penalty may apply.
An accelerated death benefit rider or feature of a life insurance policy allows the policyowner to access the death benefit if the insurer is diagnosed with a qualifying terminal illness. Some restrictions and fees may apply. Receipt of the accelerated death benefit may be taxable and may also affect eligibility for public assistance programs.
Exclusions, restrictions, limitations, and reductions in benefits will, in certain situations, apply to your policy. For full details, including costs, call us at 877 276-9429.
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