Being a financial services professional, Mark Wandall understood the importance of insurance and the need to protect himself and his wife, Melissa. Sadly, at age 30, Mark was killed in an auto accident by someone who ran a red light. The life insurance has allowed Melissa to remain in their home and be a full-time mom to their daughter, who was born two weeks after the accident. Melissa has kept Mark‘s spirit alive by creating two important causes, The Mark Wandall Foundation that raises money for worthy causes in her community and the Mark Wandall Traffic Safety Act that, if enacted, would stiffen criminal penalties for red-light running in Florida.
Missy Junk experienced the value of life insurance when she lost both parents at a very early age. Both parents had life insurance and her mother made the wise decision to increase her coverage after her husband‘s premature death. With the proceeds from the insurance, Missy was able to continue her education and earn a degree in elementary education. The benefits also paid for living expenses and helped her make a down payment on a condo. Today, Missy teaches second grade and is planning a future with her high school sweetheart.
It took Dean Hoskins considerable time and effort to convince her husband, Bryan, that he needed to purchase life insurance. Just a few years later, Bryan was diagnosed with an aggressive brain tumor. He died six months later at age 32. With the proceeds from Bryan‘s insurance policy, Dean was able to invest in her own business as well as schedule her work hours around her young twin daughters‘ needs.
Mark and Kathy Custead enjoyed a comfortable, middle-class lifestyle, but their financial obligations were considerable. So with their agent‘s help, they completed a life insurance needs analysis, which showed that both needed to substantially increase their coverage. They each made life insurance purchases, something neither had done since their first child was born 17 years earlier. That spring, Mark was diagnosed with pancreatic cancer and died five weeks later. Proceeds from his insurance helped to pay funeral expenses, medical bills and credit card debt, and have allowed Kathy to set aside money for the kids‘ college costs.
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.
Ebony and Shanna Blanchard
When Jackie Blanchard's husband died at 28 with barely enough life insurance to pay for his funeral, she purchased enough coverage for herself to ensure that her young daughters, Ebony and Shanna, would be fine if something happened to her. Two years later, she was diagnosed with terminal lung cancer. Jackie used her policy's accelerated death benefit provision to finance a home and a car for her daughters and to fund their future education. Today, Ebony, a recent college graduate, and Shanna, a high school senior, live in the home their mother purchased for them.
Each year Dr. David Lewis, a pediatrician from Wisconsin, spent time in Ecuador providing healthcare to indigent children. David died of a heart attack during one of his trips, but his decision to purchase life insurance meant that Sarah would have time to grieve and provide her three young children with the attention and support they needed. The funds provided by the policy also allowed her to keep the family home, and hire a nanny to help with the kids.
One week after Bob and Jill McCarthy filled out applications to increase their life insurance coverage, Bob was killed in a trucking accident. Jill, mother of four, didn't know how she would handle the bills, when her agent called to tell her Bob's claim would be paid even though the new policy had not yet been issued. The insurance benefit allowed Jill to stay at home to care for her children, and to purchase the home she and Bob had always dreamed of owning.
Michael Rowe had very little discretionary income, so it took quite a bit of convincing by agent Craig Miller to get him to buy a universal life policy to protect his wife and five children. He even tried to cancel it a number of times because his business was strapped for cash. Instead, his agent persuaded him to use the policy's accumulated cash values to keep the coverage in force until his financial situation improved. Two years later, Mike was diagnosed with terminal brain cancer and had peace of mind knowing that if he lost his battle with cancer, his family would be provided for. After his death, the proceeds from the insurance allowed his wife to eliminate debts, make home improvements, and pay for counseling services for one of her sons who had a very hard time coping with his father's death.
Right after Joe Tyler's daughter was born, both Joe, a consultant, and his wife Caroline, a stay-at-home mom, purchased life insurance. Less than a year later, Caroline died of cancer at age 33. With the insurance proceeds, Joe reduced his mortgage and hired a nanny. Soon, wishing to devote more time to raising his daughter, he used the equity in his home to purchase a Connecticut farmhouse and begin a new career as an antiques dealer. Insurance helped Joe transition to a lifestyle that allowed him more time with his young daughter.