It’s smart, easy, and affordable to get life insurance your way.
Making smart choices helps you live life on your terms. When others rely on you, life insurance is a smart choice to help protect their financial security. Besides paying final expenses and replacing your income, it can do so much more—help you save on taxes, provide funds if you become ill, even supplement your retirement income, or help your business or future generations. So you can continue to be the rock they rely on. Life insurance provides a foundation to help you reach your goals, your way. And everyone deserves that.
Who’s Your Rock?
Discover how others have benefited from having life insurance.
Learn the facts about common life insurance myths.
Use these calculators and quick comparisons to learn more about life insurance.
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The availability of coverage and rates will vary based on company underwriting criteria. Life insurance is issued by The Prudential Life Insurance Company of America, Pruco Life Insurance Company, or Pruco Life Insurance Company of NJ. All three are Prudential Financial companies located in Newark, NJ. All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. For information about your particular investment needs, please contact a financial professional. © 2022 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. 1061897-00005-00 Ed. 12/2022 ISG_DG_ILI304_01
Congratulations to our winner, Kim! Thank you for entering our sweepstakes for a $25,000 life insurance policy.
*
*$25,000 is the policy death benefit, which is guaranteed by the claims-paying ability of Pruco Life Insurance Company. Other policy values may vary, depending on the age and gender of the insured. Please note that the sweepstakes ended on September 30, 2022.
Learn how people like you are using and benefiting from life insurance.
Gaining security
Leaving a legacy
Planning for retirement
Managing a chronic illness
Navigating taxes
Wanting a fast and easy process
Protecting a small business
Supporting someone with special needs
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Easy tools
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Life stories
“Get Good with Life Insurance” Webinar
Common myths about life insurance can prevent you from considering this smart choice. Let’s review 4 of these mistaken beliefs so you can learn the facts and start using the full benefits of life insurance.
The main reason to have life insurance is to leave your loved ones money after you die to help them financially. But there are other reasons as well.
Play a video to see what you know
SEE THE FACT
Myth 1
Myth 2
Myth 4
Myth 3
Life insurance costs too much.
It’s too much of a hassle to buy it.
Life insurance benefits are only for after I die.
I don’t really need to make my family rich when I die.
Fact 4
Fact 3
Today’s policies can allow you to apply online or electronically and get your policy in days rather than weeks. A medical exam might not even be needed.
Fact 2
Many people think life insurance costs more than it actually does. You can find a policy and an amount of coverage to fit your budget.
Fact 1
Life insurance is affordable.
It can be very quick and easy to buy.
In addition to providing a valuable death benefit for your loved ones, life insurance could offer cash value or other benefits you can use yourself.
Life insurance offers benefits for you while you are alive.
You choose how much your family will receive, such as just enough to help them maintain their standard of living after you're gone.
Life insurance is about financial protection for your loved ones.
You choose how much your family will receive, such as just enough to help them maintain their standard of living after you’re gone.
Today’s policies can allow you to apply online or electronically and get your policy in days rather than weeks. A medical exam might not even be needed.**
*$25,000 is the policy death benefit, which is guaranteed by the claims-paying ability of Pruco Life Insurance Company. Other policy values may vary, depending on the age and gender of the insured. Please note that the sweepstakes ended on September 30, 2022. **Issuance of the policy may depend upon the answers to the health questions set forth in the application.
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Transcript
Explore the goals that various policies can help you achieve, determine how much life insurance may be right for you, and build your knowledge with these quick tools.
Use these tools to learn more about life insurance for your needs.
Explore the differences among these policy types.
How much do you already know about life insurance?
Find out how much life insurance you may need.
Compare policies based on your specific needs.
The availability of coverage and rates will vary based on company underwriting criteria. Accessing a policy’s cash value will reduce the policy’s cash value and the death benefit and may have tax consequences. A chronic or terminal illness rider is an optional rider that can accelerate the life insurance death benefit when the insured is terminally ill or is chronically ill as defined in the rider. Electing the rider results in an additional charge and underwriting requirements. This rider is not Long-Term Care (LTC) insurance, and it is not intended to replace LTC. To qualify for chronic illness benefits, you (the insured) must be certified as chronically ill by a licensed health care practitioner. For chronic illness benefits to continue beyond one year, recertification by a licensed health care practitioner is required. Benefits received under the rider will reduce and may deplete the death benefit. The rider may not cover all of the costs associated with chronic or terminal illness. It is a life insurance accelerated death benefit rider and is generally not subject to health insurance requirements. Some benefit payments may be subject to a fee. Other terms and conditions apply and can vary by state. Please consult your tax and legal advisors before initiating a claim. Life insurance is issued by The Prudential Life Insurance Company of America, Pruco Life Insurance Company, or Pruco Life Insurance Company of NJ. All three are Prudential Financial companies located in Newark, NJ.J. All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. For information about your particular investment needs, please contact a financial professional. We do not provide tax, accounting, or legal advice. You should consult your own independent advisors as to any tax, accounting, or legal statements made herein. © 2022 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. 1061897-00005-00 Ed. 12/2022 ISG_DG_ILI304_01
We offer a wide range of products to suit your needs and budget. Contact your financial professional to determine which product may be right for you.
Flip the cards to learn more.
Discover how the Williams family used insurance this way
Discover how the Rowan family used insurance this way
A term or permanent policy. We do not provide tax, accounting, or legal advice. You should consult your own independent advisors as to any tax, accounting, or legal statements made herein.
Life insurance can be used to help protect your business from critical risks, including the loss of a key employee, and to attract and retain valued talent.
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Discover how Renee and Shawn used insurance this way
A term or permanent policy, often a survivorship policy, which insures two people. It pays a benefit after both have died.
Life insurance can help you reduce taxes your beneficiaries will need to pay, or offer other tax advantages, including a generally federal income tax-free death benefit for your beneficiaries.
Discover how Stella used insurance this way
A permanent policy that allows you to add such a rider, often called an accelerated death benefit rider.
An add-on, called a rider, can enable you to advance, or accelerate, the death benefit for your own use, if you become ill and meet the terms of the rider. This rider requires additional premiums and underwriting.
Discover how Dave and Kim used insurance this way
A permanent policy that has strong potential to accumulate cash value. Ask your financial professional for an illustration that shows potential scenarios.
Some policies have the potential to build cash value, which can provide a source of supplemental income.**
Discover how Bill and Joanne used insurance this way
A permanent policy, especially one that lets you apply a guarantee against lapse.
The death benefit can be passed to your heirs or can be used to help reduce taxes on other assets so they can pass on to your heirs.
Term insurance or a permanent policy focused on low-cost death benefit protection.
All life insurance is designed to provide a death benefit for your loved ones to help meet their needs or pay your final expenses. Look for one that focuses on just this.
*$25,000 is the policy death benefit, which is guaranteed by the claims-paying ability of Pruco Life Insurance Company. Other policy values may vary, depending on the age and gender of the insured. Please note that the sweepstakes ended on September 30, 2022. **Our policies contain exclusions, limitations, reductions in benefits, and terms for keeping them in force. A financial professional can provide you with costs and complete details.
For nearly a century and a half, Prudential Financial has been helping people like you achieve financial wellness and standing by them during life’s most important moments. When you choose Prudential Financial, you choose a company with a history of over 145 years of honoring our promises. Providing protection and comfort to our customers is what we do, and we are dedicated to doing it well. We’re here for your financial journey. You can count on us when it matters.
Mike,
36, is a designer for a local ad agency.
35, is a teacher at an elementary school.
Chris,
4, loves her daddies and riding her bike.
Peyton,
Location:
Chicago, IL
Life insurance is issued by The Prudential Life Insurance Company of America, Pruco Life Insurance Company, or Pruco Life Insurance Company of NJ. All three are Prudential Financial companies located in Newark, NJ. All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. For information about your particular investment needs, please contact a financial professional. © 2022 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. 1061897-00005-00 Ed. 12/2022 ISG_DG_ILI304_01
•
Student loan debt
Paying for child care
Staying current on their mortgage
Although they understand the need for life insurance, they don’t understand it well and are worried they can’t afford it.
A term life insurance policy from Prudential can provide straightforward, affordable coverage. The option to convert the policy to a permanent one within a few years can help them move into another policy if their needs or budget changes.
What Every Consumer Should Know About Life Insurance
Gain an understanding of life insurance, what to know about each type of policy, and what to consider before buying a policy.
Use this chart to learn about and compare various types of life insurance policies.
Understanding Your Life Insurance Options
Quickly estimate your life insurance needs and learn how a blend of term and permanent insurance may help you reach your goals.
Protect What Matters Most
This information is hypothetical and not representative of any particular product.
Happily married for eight years, Chris and Mike Williams are proud parents to four-year-old Peyton. As avid cyclists, they first met at a bike race in downtown Chicago. After Peyton came along, long bike rides turned into short rides to a local playground, and long talks steered to the topics of daycare, student loans, the mortgage, and college planning.
When Chris’s mother faced a terminal illness, he relied on Mike to boost his spirits and take care of Peyton. That’s when it hit them. What would Chris do without Mike if anything ever happened to him? How would Mike function if Chris were not there? They called a financial professional, James, who recommended term life insurance policies from Prudential. Term policies could provide affordable, reliable protection for the years their family needed it most. James explained that they could convert, or trade in, their policies for permanent policies within a few years if their circumstances changed. And they could also add permanent policies for coverage that could last their lifetimes.
When, four years later, Chris was killed by a truck while he was training for a race, James reminded Mike that the death benefit from Chris’s policy could help cover funeral expenses, bills, childcare, and more. Facing life without Chris has been the hardest thing Mike has ever had to do. Although Chris often called Mike his rock, Mike thought the same of Chris. Amid his grief and Peyton’s, he was relieved that he had life insurance to help him pay the bills, childcare costs, and household expenses so he could focus on his family.
Contact your financial professional today to get the life insurance protection you need.
Our policies contain exclusions, limitations, reductions in benefits, and terms for keeping them in force. A financial professional can provide you with costs and complete details. Life insurance is issued by The Prudential Life Insurance Company of America, Pruco Life Insurance Company, or Pruco Life Insurance Company of NJ. All three are Prudential Financial companies located in Newark, NJ. All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. For information about your particular investment needs, please contact a financial professional. © 2022 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. 1061897-00005-00 Ed. 12/2022 ISG_DG_ILI304_01
Bill,
59, is a claims examiner for a property and casualty insurance company.
56, is a graphic designer at a local print shop.
Joanne,
They have two adult children in their late 20s.
Indianapolis, IN
Leaving a financial legacy to their children
Retiring comfortably
Market volatility
They are familiar with life insurance as a way to transfer wealth across generations but assume it is expensive. Leaving an inheritance to their children is important.
A permanent life insurance policy from a Prudential carrier can help them leave a legacy to future generations while not impacting their current lifestyle.
The Legacy Advantage Strategy
Review how to preserve and possibly enhance your legacy with life insurance.
Explore the basic components of a wealth transfer strategy.
Wealth Transfer: Leaving a Legacy
Use this checklist as you begin planning to pass along your legacy.
Estate Planning Checklist
Discover a strategy that can help preserve your assets for future generations.
Legacy Advantage: An Asset Repositioning Strategy
Bill and Joanne have always worked hard and tried to save well. They enjoy a comfortable but not extravagant life. Now that the kids have moved out, retirement is coming into focus. They’re concentrating more on their own goals and how they want their next chapter to be. Just as important as retiring comfortably is leaving a financial legacy to their children and being prepared for the potential of a volatile market.
One evening as they sipped drinks and discussed dreams for the future, it dawned on Bill that they hadn’t spoken with their financial professional in a long time. “Why did we cancel those appointments with Sarah the last couple times, Jo?” Neither could recall. Life got busy. They agreed it was time to set—and keep—an appointment with Sarah.
A review with Sarah resulted in taking one big step in passing along a legacy to their children: They bought a survivorship life insurance policy from Prudential. Since a survivorship policy pays the death benefit only after both people insured on the policy have died, the death benefit will go to their children, generally income tax-free. The children can use the money to offset any taxes that might be due, helping to preserve the value of Bill and Joanne’s estate, and likely leaving them with a greater inheritance.
David,
51, is a middle school biology teacher.
54, is an office manager for a small dental practice.
Kim,
Their children, Isabelle and Sam, are in college.
Seattle, WA
Having enough money for retirement
Protecting their family
Having to liquidate assets due to inadequate income
Like many Americans, they are worried about retirement. They want to be sure they have enough to not only maintain their lifestyle in retirement but travel as well.
Life insurance that builds cash value can help them protect their family and provide a source of supplemental income that can give them more financial flexibility in retirement.
Life Insurance to Protect Your Loved Ones Now, Supplement Your Retirement Income Later
Learn how life insurance can help you protect your loved ones and provide tax-advantaged income.
Understand the specific costs you could face in retirement with this interactive aid.
Retirement by the Numbers
Explore the specific health care costs you could face in retirement and what Medicare does and does not cover.
Managing Your Costs in Retirement: Health Care
David and Kim are married and have a son and daughter in college. With both children nearing graduation, David and Kim are now focusing on retirement. They have been contributing the maximum to their 401(k) plans at work and have emergency savings. They are still helping to pay for their children’s educations, and they promised to help them out financially after they graduate. Now, they have a dream of traveling when they retire; they just don’t see how they can make it all work.
David and Kim contacted their longtime financial professional, Simon, to discuss their goals. Simon has been there for every important financial decision the couple has made for over 20 years. When they discussed their goals and concerns with him, Simon recommended that they each get a permanent life insurance policy from Prudential—one with the potential to build cash value. He explained that these policies would give them the coverage they need to protect their children and leave a reliable legacy to help them as promised. In addition, David and Kim can access any cash value that builds within the policy over time as a supplemental source of income in retirement, which they can use for anything they like, including travel expenses.**
Simon
FINANCIAL PROFESSIONAL
*$25,000 is the policy death benefit, which is guaranteed by the claims-paying ability of Pruco Life Insurance Company. Other policy values may vary, depending on the age and gender of the insured. Please note that the sweepstakes ended on September 30, 2022. **Accessing a policy’s cash value will reduce the policy’s cash value and the death benefit and may have tax consequences.
Stella,
55, is a data analyst at a large firm.
Her 2 adult children and grandchild live across the country.
Jacksonville, FL
Not wanting to rely on her children for care if she gets ill
Stella is aware of the financial impact of not being able to work while ill and the expenses associated with a chronic illness. She took care of her sick mother years ago and doesn’t want to place that burden on her children.
A permanent life insurance policy with a chronic illness rider added can give Stella a valuable death benefit to leave as part of her financial legacy, plus the flexibility to accelerate up to 100% of the death benefit if she’s faced with a chronic or terminal illness and meets the terms of the rider. Having access to these funds can reduce the risk that Stella will deplete her savings and other assets to pay for costs associated with the illness or that she’ll have to rely on her children for care.
Do You Know the Four C’s of Chronic Illness?
Learn four ways you can prepare for chronic illness.
Compare the ways to pay costs associated with a chronic illness to determine what will work for you.
Comparing Chronic Illness Solutions
Explore how a life insurance policy with the optional BenefitAccess Rider can help you prepare for the unexpected.
Life Insurance with the BenefitAccess Rider
Discover the support available when you add the BenefitAccess Rider to one of our life insurance policies.
BenefitAccess Rider Concierge Care Overview
A chronic or terminal illness rider is an optional rider that can accelerate the life insurance death benefit when the insured is terminally ill or is chronically ill as defined in the rider. Electing the rider results in an additional charge and underwriting requirements. This rider is not Long-Term Care (LTC) insurance, and it is not intended to replace LTC. To qualify for chronic illness benefits, you (the insured) must be certified as chronically ill by a licensed health care practitioner. For chronic illness benefits to continue beyond one year, recertification by a licensed health care practitioner is required. Benefits received under the rider will reduce and may deplete the death benefit. The rider may not cover all of the costs associated with chronic or terminal illness. It is a life insurance accelerated death benefit rider and is generally not subject to health insurance requirements. Some benefit payments may be subject to a fee. Other terms and conditions apply and can vary by state. Please consult your tax and legal advisors before initiating a claim. Life insurance is issued by The Prudential Life Insurance Company of America, Pruco Life Insurance Company, or Pruco Life Insurance Company of NJ. All three are Prudential Financial companies located in Newark, NJ. All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective client. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. For information about your particular investment needs, please contact a financial professional. Issuance of the policy may depend upon the answers to the health questions asked in the application. We do not provide tax, accounting, or legal advice. Please consult your own independent advisors as to any tax, accounting, or legal statements made herein. © 2022 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. 1061897-00005-00 Ed. 12/2022 ISG_DG_ILI304_01
Caring and compassionate, Stella took care of her mother after her stroke several years ago. She moved into her mother’s home so she could help her out of bed in the morning, get her changed and bathed, and feed her breakfast before leaving her in the care of an aide while she went to work. Although Stella was grateful that she could care for her mother, she wondered what her family would do if she were ever in the same position.
When Stella met with Ingrid, her financial professional, to review her financial plan, she raised her concerns about one day needing care as her mother did and explained that she didn’t want to burden her children. Ingrid recommended that, since Stella wanted to provide for her family after her death, she could purchase a permanent life insurance policy and add a chronic illness rider from Prudential. The rider would allow Stella to access the death benefit if she ever became chronically or terminally ill and met the terms of the rider. If she did not access the death benefit, the full amount would go to her children, whom she named as beneficiaries.
Ingrid
Unfortunately, 12 years later, Stella was in a major car accident. She had a head injury and broke her collarbone, shoulder, and elbow. Initially, she was in a coma from her head injury; and she needed multiple surgeries for her broken bones, followed by physical therapy. It took nearly a year for her to fully recover. Her children took turns taking care of her for the first six weeks after she was sent home; but she still needed substantial help with activities of daily living, like bathing and getting dressed. Stella sent her son and daughter back to their families and decided to access her life insurance policy’s death benefit to pay for in-home care. Receiving care, without making her children uproot their lives, allowed Stella to focus on her recovery.
Renee,
47, is a freelance makeup artist.
They have three adult children who are employed and living on their own.
Austin, TX
Outliving their savings
Helping their children financally
Having a comfortable retirement and protecting their family is important. They are saving twice as much for retirement as most Americans.
Cash-value life insurance can provide a tax-free death benefit for their children along with a potential source of tax-free supplemental retirement income. It can address their need to protect their children and help themfinancially but also help reduce taxes.
The Tax Challenge
Determine how tax-diversified your investments are.
Explore how planning with life insurance now can help you keep more of your money later.
The Importance of Tax Planning for Retirement
Discover how adding life insurance to your retirement strategy can help you reap tax advantages.
The Tax Advantages of Life Insurance
Understand the 7 taxes that can reduce your assets and how to lessen the impact to your heirs.
Tax Erosion: How Taxes Affect Your Assets at Death
50, is a construction manager.
Shawn,
Having taxes derail their plans
ACCESSIBILITY
Renee and Shawn were high school sweethearts who married young and had children early. Since they both started working in their chosen fields as soon as they graduated from college, they have been able to budget and save, with the help of their parents in the early years of their marriage. Even though their children are out of the house, they’d like to make sure they can help them out, the way their own parents helped them, and leave them a financial legacy. At the same time, they’ve worked so hard to save as much as they can that they don’t want to lose more than they have to on taxes, and they’re afraid of outliving their savings. They have been frozen by these competing priorities and aren’t sure what to do.
As Renee was applying makeup to Marva, the mother of a bride on the wedding day, the two started chatting. As has happened countless times throughout Renee’s life, when complete strangers have opened up to her about their lives, Marva confided in Renee about how scared she once was about paying for this wedding. She thought it would mean depleting her and her husband’s retirement funds. She was grateful that she and her husband had planned ahead for this day and that they had sought the advice of a financial advisor. Renee mustered the courage to ask if she would share the financial advisor’s contact information. Marva happily obliged, adding, “I bet you’ll be as happy as we are with her!”
As soon as Renee got home, she recounted Marva’s story to Shawn. Although he wasn’t convinced it was worth it, he agreed to call and meet with Helen, Marva’s financial advisor. That first call gave him hope that maybe they could do all the things they wanted to do. When Helen met with the couple and reviewed their situation and goals, she recommended a cash-value life insurance policy from Prudential. This policy, she said, would pay a benefit to their children when they’re gone, and it has the potential to accumulate cash value. She explained that they could use the cash value to help supplement their income when they retire,** helping quiet their fears of outliving their savings. When she reviewed the tax advantages it could have for both them and their children, they eagerly applied.
Dylan,
37, is a web developer for a mid-sized company.
6, enjoys playing soccer and playing with her dad.
Olivia,
Philadelphia, PA
Ensuring his daughter is protected
Paying his monthly bills
Making sure his daughter is protected is Dylan’s main priority. He knows he needs life insurance but has heard that the process can be long and time-consuming, and that’s putting him off. He does as much as possible online to save time and make his life easier so he can spend more time with Olivia.
Prudential’s modern, electronic capabilities enable Dylan to purchase life insurance without leaving his home. He can use his laptop, phone, or tablet to complete all steps of the process when it’s convenient for him.
Prudential’s eInterview Frequently Asked Questions
Explore how you can skip the usual phone interview and answer your questions online.
Learn how you can get life insurance documents online and sign them electronically.
Prudential’s eDelivery
Know the 7 steps to expect after applying for life insurance.
Life Insurance from Application to Ownership
Caring, devoted, and protective, Dylan loves his daughter Olivia more than life itself. Ever since Dylan’s wife died of breast cancer two years ago, he’s been doing his absolute best to be a father and a mother to his daughter. He coaches her soccer team and has recently mastered the art of French braiding. One recent Saturday morning, as Dylan braided Olivia’s hair before a soccer game, she looked at him and quietly asked, “What would happen to me if you went to heaven like Mommy did?” Dylan’s stomach dropped. How could he be sure that Olivia would be protected if he couldn’t be there for her? He knew he needed life insurance, but he was dreading the process.
Dylan spoke with his financial professional, Sarah, later that month and he raised his concerns about wanting to protect Olivia’s future. Sarah recommended that Dylan purchase a life insurance policy from Prudential. Dylan was hesitant. He didn’t think he had the time to go through the process. However, Sarah explained to Dylan that buying life insurance has never been easier. When Dylan bought a life insurance policy, he was pleasantly surprised at how fast and easy the entire process was. He completed everything on his phone or laptop, didn’t have to give blood (he hates needles), and was approved for coverage 48 hours after everything was complete.**
*$25,000 is the policy death benefit, which is guaranteed by the claims-paying ability of Pruco Life Insurance Company. Other policy values may vary, depending on the age and gender of the insured. Please note that the sweepstakes ended on September 30, 2022. **Your responses to health questions help determine approval.
Dylan is going to do everything he can to help ensure that he stays by Olivia’s side, protecting her and loving her, for as long as he can. However, he feels at ease knowing that her future is financially protected if, someday, he isn’t there for her.
Dana,
12, is an energetic middle-schooler.
Given their unique skills, Mitchell and Tina both know they can’t run the business without the other one, so they want to ensure their business can continue if something were to happen to one of them.
They want to enable the surviving spouse to continue the successful business to support the family for years to come.
Business has been great these past few years and the family is living comfortably. Mitchell and Tina both love working in the business and can’t imagine working anywhere else. However, they worry about what would happen to both their business and family if something were to happen to either of them.
While cash or loans can be used to pay the costs of replacing a key person, life insurance on each owner may be a more cost-effective alternative.
Key People Help Drive Your Business. Attract and Retain Them While Protecting the Organization
Learn what a key person strategy is and how to use life insurance to establish one.
Discover how a buy-sell agreement can help protect your business and your personal interests.
A Buy-Sell Agreement Solution to Protect the Future of Your Business
Explore how life insurance can help you with business continuation and executive compensation strategies as well as your own retirement planning needs.
Insurance Strategies that Help Drive Your Business’s Financial Wellness
the finances.
managing both clients and the staff of admissions coaches.
41, runs a college admissions coaching business,
Mitchell,
40, joined the business as a partner to manage
Tina,
10, enjoys theater camp and taking singing lessons.
Thomas,
Watch how Dawn Fitch built her small family business. When MS threatened her legacy, she decided to look out for the loved ones who took care of her.
Mitchell was always the friend that others went to for help with their essays in high school. And in college. He had a knack for knowing just how to structure an essay and tell a story. When he helped his brother’s kids apply to colleges and write their essays, his sister-in-law observed his talent for helping them with the experience and suggested he start his own business coaching others through the college admissions process. He decided to take the risk, using the money from his recent ad agency severance package to get started. And he has never looked back. In fact, business grew so fast that Tina left her corporate job to join Mitchell as a partner in the business to manage the finances.
While delivering meals to a neighbor whose husband was ill, Tina realized that she and Mitchell needed a plan. Two incomes rely on the family business. What would she do if something happened to Mitchell? And what would he do if something happened to her? It became clear that they needed to talk to a financial professional about their concerns and to make some solid plans for the future of their business and their family.
FINANCIAL PLANNER
Aleesha
Mitchell contacted one of his clients’ parents, Aleesha, a financial planner, to discuss his and Tina’s concerns. After learning about their business, their family, and their goals, she said she’d come back in a few days with some recommendations. By the end of the week, she returned to explain how they could use life insurance policies, one to cover Mitchell as a “key person” in the business and one to cover Tina as a key person, and to protect both their business and their family. If something were to happen to either of them, the money from the policy could be used for whatever might be needed to keep the business afloat, helping to ensure their family would be OK financially. With these life insurance policies in place, they now have a firm foundation to grow on.
Adrian,
7, has autism, is non-verbal, and enjoys music
Orlando, FL
Paying the mortgage and meeting expenses, especially if one of them gets sick
Caring for Adrian and ensuring he will always be taken care of even after they are both gone
They want to ensure that Adrian will always have the care he needs, as he will not be able to live on his own. They heard from a friend that they could set up something called a special needs trust for Adrian, but they don’t know whether it will interfere with the government aid and other services he receives now.
A permanent life insurance policy can help provide a death benefit in case one or both parents die; with the right planning, it can also be used with a special needs trust, as the life insurance policy can provide a significant source of funds that the trust can use to care for Adrian during his lifetime.
Preparing for the Future of Your Loved One with Special Needs
This brochure helps you understand what to consider and how you might begin to approach preparing for your loved one’s future.
friend’s small office, when she’s not with Adrian.
45, is a patient relations manager at a cancer center.
George,
43, works a few hours a week as a receptionist in a
Marisol,
Watch how a loving father prepares for his special needs daughter’s future.
and funny cartoons.
George and Marisol always wanted to have a child and, a few years into their marriage, they were overjoyed to have Adrian. After Adrian’s challenging toddlerhood, their pediatrician recommended having him tested. When autism was the diagnosis, things started to make sense yet also became more challenging, as they began to navigate early intervention resources, scheduling PT, OT, and speech therapy, and going for follow-ups. The couple decided that Marisol should not return to her full-time job so that she could give Adrian the care he needs.
George, as the primary and practically sole earner, strongly feels it’s his responsibility to provide for his family. When Marisol mentioned how a parent of a friend in Adrian’s play group set up a trust for their daughter with special needs, George paid attention. They had nothing of the sort in place for Adrian! The couple called their friend and learned that they needed to meet with a special needs planning attorney and a financial planner. The friend gave them names for both. The attorney could draft the special needs trust and would work in conjunction with the financial planner. They immediately set up meetings with both and, before long, had a plan in place.
A third that is being used to fund a special needs trust because Adrian won’t ever be able to live on his own. This policy is owned by the special needs trust and is on George’s life. As the attorney recommended, George gifts the premiums to the trust to purchase the policy.
Another that would give Marisol enough money to pay off the mortgage and any outstanding bills, as well as pay for all of Adrian’s needs until he’s an adult.
The premiums on these policies are within the family’s budget, and George feels it’s money well spent to make sure the loves of his life will be taken care of when he’s gone. They will check in with their planning team every year to ensure they’re still doing all they can to prepare for the future.
One that covers Marisol so that, if anything were to happen to her, George would be able to hire people to give Adrian much of the care and help Marisol now provides.
