Life happens in a heartbeat. :30
Protect the ones you love with life insurance.
A Dream Lives On
Scott Young liked to dream big. Although he came from humble beginnings, through hard work he turned a one-man enterprise into the largest heating and air conditioning business in their area. That allowed Scott and his wife, Cathy, to fulfill another dream—to build a home in the country and work it as a hobby ranch. They wanted to give their two daughters a life that revolved around the outdoors and good living.
Insurance professional Steve Sabo made sure Scott was properly insured at work and at home. Scott ran the business with his brother, David, and a buy-sell agreement funded with life insurance ensured the business could continue if one of them were to die. Plus, Scott had a personal life insurance policy that would allow Cathy and the girls to be OK financially if something were to happen to him.
As the business and Scott’s financial responsibilities grew, Steve knew it was time to reassess Scott’s life insurance needs. They did, indeed, find a need and immediately set to work to increase Scott’s personal and business coverage.
Tragically, just weeks after the life insurance applications were submitted, Scott suffered a fatal accident. On July 4, this avid outdoorsman drowned while paddle boarding in a nearby river.
While Cathy and her daughters must now make a new life for themselves without Scott, the life insurance has been invaluable. The insurance through the business ensured that Cathy was compensated for Scott’s portion of the company instead of becoming an owner of a business she had no interest in running. Scott’s personal policy cemented their dream. “I have an incredible amount of gratitude, and it’s all because of the life insurance,” says Cathy. “Without it, we’d be gone from this property. Now my daughters can grow in the home we built, as we create a new life together.”
A Dream Lives On :30
Scott Young liked to dream big, but he also kept those dreams grounded in reality. He had the foresight to insure both his “families”—at home and at his small business. When a paddle-boarding accident took his life, both were taken care of financially.
Watch the full length version here.
Legacy of Love
Leave a legacy of love with life insurance.
Living a Whole Life
There were no children on the horizon yet for Norm and Sandy Page, but this young couple, in their early 20s, decided to buy whole life insurance policies. They had met with Thomas Waring, Jr., CLU, ChFC, their financial professional, who explained that because whole life insurance also builds cash value, it would help them with their goal of saving for retirement, while also protecting them in case either were to die prematurely.
The Pages’ plans changed in an instant when their son, Adam, was born with spina bifida, a malformation of the spinal cord. The couple had good health insurance coverage through their jobs, but there were certain things it didn’t cover like special braces that Adam needed to walk. To pay for these items, the Pages tapped into the cash value that had accumulated in their whole life policies.*
The money from the policies even allowed Adam to pursue a special dream. He developed a passion for sled hockey, and Norm and Sandy borrowed from the life insurance policies to pay for some of his equipment and training needs. At 15, he became the youngest person to make the U.S. National Sled Hockey Team and at 18, he won gold at the Paralympic Games in Vancouver.
Over the years, the Pages have purchased more life insurance to make sure that Adam will be adequately provided for should he outlive his parents, which doctors say is likely. For his part, Adam is now attending college to pursue a career in sports management. He even bought his own whole life policy, as he prepares for his life ahead. “I’ve seen what it’s done for me,” says Adam. “Whole life insurance has provided me the opportunity to live a whole life.”
*Withdrawing or borrowing funds from your policy will reduce its cash value and death benefit if not repaid, and may result in a tax liability if the policy terminates before the death of the insured.