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Natira Tedesco: The Kids Are Alright

By the time he was 28, Steven Tedesco was ready to be his own boss. Along with a partner, he purchased a blacktop paving business in Corinth, N.Y. The bank loan they got required each of them to carry life insurance. Steven consulted Robin Davey, CFP, an insurance professional. As they talked, Robin quickly discovered that the business was not Steven’s only financial obligation.

He had a wife, Natira, and five children. “That’s a lot of mouths to feed,” Robin remembers telling him. “Have you thought about how they would get by if something happened to you?” Because of Steven’s age and good health, he obtained a $1 million, 20-year term life insurance policy at a very affordable rate, in addition to a separate policy to cover the business loan. A few months later, Steven came down with what he thought was a bad case of the flu, but it turned out to be much more serious: He had leukemia. Steven courageously battled the disease, but died two years later. By then he and Natira had six children. The youngest was just 4 months old.

Thanks to the life insurance, Natira, a stay-at-home mother, has been able to continue in that role. Insurance proceeds were also used to move the family out of a cramped rental and into a home of their own—a five-bedroom, three-bath house. Robin also set up education accounts for the children, and helped Natira with a retirement savings account and a life insurance policy of her own.

The family is getting back on its feet. Natira recently remarried. She spends her days caring for the younger children and shuttling the older ones to football games. “If it wasn’t for the insurance money, I’d be working three jobs,” she says.

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