Building and Protecting a Life Together

Building and Protecting a Life Together

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Felipe and Lissete Montes de Oca started dating while they were young, but they already had grown-up priorities. Even before getting married, the couple saved diligently to purchase a house, a dream for these children of Cuban immigrants.

That dream was realized when they got the keys to their first home just as they started their lives together. That’s when Pedro J. Busse, an insurance professional, helped them get life insurance. He emphasized the importance of covering their mortgage should something happen to one of them.

As Lissete advanced in her accounting career, Felipe took his love for home renovation and construction and turned it into a profitable business. Their dream was to provide a better future for their sons, Felipe, Jr. and Lucas, as the couple had both come from humble beginnings. As their family and income grew, Pedro helped the couple increase their life insurance and get long-term care insurance.

Their lives took a detour, however, when Felipe learned that the fatigue he was feeling was not due to overwork; instead doctors diagnosed him with leukemia. Aggressive treatments made it impossible for Felipe to work, but because of his long-term care policy, they didn’t need to use their retirement savings to pay for his care. Felipe also didn’t worry about paying for his life insurance coverage because each of his policies had a rider that waived his premiums in the event of a disability. After a three-year battle, Felipe finally succumbed to the disease. He was 47.

More than 700 people came to Felipe’s funeral. His love of life had touched so many in his community. His family, however, was at the center of that love. The life insurance ensured they would be OK financially and that his boys could attend college. “Life insurance is something you pay for, but never expect to use,” says Lissete. “But here I am, and I can’t imagine not having this support to help me through.”

Construyendo y protegiendo su futuro

Construyendo y protegiendo su futuro

View this video in English here.

Felipe y Lissete Montes de Oca comenzaron a salir cuando eran jóvenes, pero ya tenían prioridades de personas adultas. Aún antes de casarse, la pareja había ahorrado con esmero para comprar una casa, un sueño para estos hijos de inmigrantes cubanos.

Ese sueño se hizo realidad cuando recibieron las llaves de su primera casa, apenas empezaban a compartir su vida juntos. Allí fue cuando Pedro J. Busse, profesional de seguros, les ayudó a obtener un seguro de vida. Pedro puso énfasis en la importancia de cubrir su hipoteca por si le ocurría algo a alguno de ellos.

A medida que Lissete avanzaba en su carrera, Felipe convirtió su amor por la construcción y renovación de viviendas en un negocio rentable. Su sueño era dar un mejor futuro a sus hijos, Felipe Jr. y Lucas. A medida que la familia y los ingresos crecían, Pedro ayudó a la pareja a aumentar su seguro de vida y a conseguir una póliza de atención a largo plazo.

En 2007, sus vidas cambiaron cuando Felipe supo que la fatiga que sentía no se debía al trabajo en exceso, sino que los médicos le diagnosticaron leucemia. Los agresivos tratamientos hicieron que a Felipe le resultara imposible trabajar, pero gracias a su póliza de atención a largo plazo, no tuvieron que utilizar sus ahorros de retiro. Felipe tampoco tuvo que preocuparse por pagar su cobertura de seguro de vida, porque sus pólizas contenían una cláusula de exención de pago en caso de discapacidad. Después de tres años, Felipe finalmente fue vencido por la enfermedad. Tenía 47 años.

Más de 700 personas asistieron al funeral. Su amor por la vida había impactado en muchos miembros de la comunidad. Sin embargo, su familia estaba en el centro de ese amor. El seguro de vida les garantizó el bienestar financiero y permitió que sus hijos pudieran ir a la universidad. “El seguro de vida es algo que se paga, pero que nunca se espera usar” dice Lissete. “Pero aquí estoy y no puedo imaginar vivir sin este apoyo”.

A Burden Relieved

A Burden Relieved

The first time that James Daoust, Jr. visited his clients, Joe and Theresa Mollicone, the couple rolled out a tray of cannolis. James became their financial advisor and over the next three decades sampled countless Italian specialties in the couple’s home. “He got hooked on Italian desserts,” Theresa says. Their close relationship is the reason the Mollicone’s are living comfortably today instead of struggling after a health crisis.

In the early years, James had helped the Mollicones with retirement plans as well as life, disability and health insurance, all of which they had to address on their own because each was self employed. Joe owned an excavation business, and Theresa ran a clothing boutique.

As Joe approached his 65th birthday and his disability insurance was about to expire, James suggested long term care insurance. The Mollicones were initially hesitant, but neither wanted to be a burden to the other or to their two adult children, so they purchased policies.

Less than six months later, Joe suffered a massive stroke that left him paralyzed on the right side and unable to speak. Three months after the stroke, the long-term care insurance policy started paying the maximum daily benefit and has been just enough to cover Joe’s homecare needs. Four years later Joe reached his payout limit, but continues to receive benefits because of his policy’s shared-care rider, which allows him to tap into the benefits from Theresa’s policy. To date, the insurance company has paid out more than $400,000 in benefits.

“If we didn’t have this insurance, caring for Joe would have depleted all the savings we had,” Theresa says. “Now I’m not afraid of running of out money.”

Peace of Mind for the Long Term

Peace of Mind for the Long Term

When Vernon Duckett first heard about long-term care insurance he wasn’t enthusiastic, but his wife, Helen, talked him into it. Recently retired from the oil business, Vernon, then 65, was healthy and vigorous, as was Helen, 66. But Helen did not want to be a burden on their son, Jeff, or anyone else.

Working with insurance agent Phyllis Shelton, they bought policies that would help pay what was then the going rate for care at a nursing home. Later, when policies with better features became available, Phyllis contacted the Ducketts and helped them upgrade their coverage. The new policies offered excellent coverage for home care, and had inflation riders that increased their coverage annually to help keep pace with the rising cost of care.

When Helen was in her mid-70s, she began having difficulty with everyday household chores, such as using the microwave oven. A visit to the doctor confirmed that these were symptoms of Alzheimer’s disease. Vernon cared for Helen at home, and the policy gave him the freedom to drop her off at an adult daycare center for five or six hours a day. After Vernon suffered his second heart attack in five years and could no longer handle her care, he placed her at one of the nicest private nursing homes in the area, where she stayed until her death at age 82.

Today, Vernon is 84 and healthy enough to play golf twice a week. He calls long-term care insurance a “blessing” because it allowed him to afford the best care possible for his childhood sweetheart, to whom he was married for more than 60 years. “This long-term care policy has given me peace of mind, security and independence,” he says.

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