Meet Jason and Lana, a young couple facing the challenges of managing their debts and coping with a reduced income as they navigate the responsibilities of adulthood. Their main priorities are safeguarding their home, ensuring the stability of Jason’s income, and covering Lana’s monthly expenses. They are looking for a budget-friendly insurance bundle that can provide them with the protection they need without breaking the bank.
Insurance Needs
To address their insurance needs, Jason and Lana have chosen a joint first-to-die term insurance policy that offers long-term flexibility as their needs evolve. This policy not only suits their current financial situation, but also provides them with peace of mind knowing that their family is protected against unforeseen setbacks. In addition, they have selected disability riders and a Child Benefit rider for added protection, all for an additional $5 per month.
Tailored Solution
Their tailored solution is built around a joint first-to-die FlexTerm policy that includes a $400,000 decreasing T15 to protect their mortgage, a $2,000 Disability rider (based on employment income) for Jason’s income replacement, a $1,000 Disability rider (based on loans) to cover Lana’s loan payments, and a $10,000 Child Benefit rider. The total monthly premium for their insurance bundle is $88.52.
Why Assumption Life
Why choose Assumption Life? Because of the flexibility offered by their Term Exchange Option. This option allows policyholders to extend their initial term to a longer term after the 1st month, without new evidence of insurability. Also, the term exchange is possible between level and decreasing coverage. This means that Jason and Lana can utilize the Term Exchange option to extend their term when their finances stabilize, better suiting their mortgage needs. So if you’re looking for a budget-friendly insurance bundle that can provide you with the protection you need, look no further than Assumption Life. With our flexible options and tailored solutions, we can help you safeguard your family’s future without breaking the bank.