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Frank Ames: Amid Grief, Many Silver Linings

While helping to build the Los Angeles subway system, Frank Ames was hit by a truck and injured so severely that he was no longer able to work at his construction job. Complications from the injury impacted his life in many ways.

With two small children, Frank and his wife, Laura, knew life insurance was a must. Due to his poor health, Frank was only able to buy a small policy. Fortunately, Laura, a teacher, was in great health and qualified for preferred rates on her policy, which she bought with the help of insurance professional Bob Arensberg, CLU, ChFC, LUTCF.

She battled the disease for several years, but then the doctors gave her just a year to live.

During a doctor’s visit just weeks later, Laura received devastating news. She had a cancerous tumor in her abdomen. She battled the disease for several years, but then her doctors told her she had just a year to live. A provision in her policy called an accelerated death benefit allowed her to access a portion of the death benefit while she was still alive, given her terminal diagnosis. The couple used a third of the death benefit to buy land in the country and build a home. Laura spent her final months there. She passed away at age 42.

Today, Frank supplements his small Social Security disability payments with income generated by invested insurance proceeds, plus rental income on a second home he and Laura had built on their property. He also set up college funds for his children, Bethany and Joshua. Frank was even able to set aside money to honor Laura’s memory with a foundation in her name that is building a church playground and children’s center.

“Without this policy they would have been in an awful financial situation,” says Bob. “Amid all this grief at least there are some silver linings.”

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