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Thursday, February 19, 2015

Real Life Insurance Stories: 'My husband is dead'

Unemployed and, Interviewing, we had no life insurance in the meantime.

My husband is dead!

Tim was such as wonderful father and friend. He got up so early every morning and commuted so far to give his family a great life. He was so compassionate and would help anyone. We will miss him dearly, but we know he is in heaven looking down on us.

Tim and I sat down two years ago with a life insurance agent and they clearly educated us on life insurance and the different types of policies available. They did a thorough needs analysis and then made some recommendations. There is one eye opener that I remember to this day! Tim was making about $250,000 a year and had two times his salary in Life Insurance provided by his employer. Sounds Great! Wrong! Our life insurance agent explained that his insurance at work should only be considered as icing on the cake and to manage our life insurance policies outside work. The reason was, if he was laid off, his insurance would cease in most cases. Not to mention he would be much older or he could have developed a condition that would make him uninsurable. GET THE POINT!

This was the grace in saving my family today. It turns out Tim was laid off from his company and was driving into Chicago for an interview when he was killed in a fatal multi-car accident. Without the knowledge and insight of the life insurance agent, what we thought was adequate coverage would have left my family and I homeless considering Tim lost his life insurance benefits when he was laid off.

There aren't many nights that go by that I do not thank God for bringing the life insurance agent into our lives. It’s almost two years later and we are still getting over the death, but the three of us have enough money to handle any challenge that comes our way.

Terri O., Chicago

P.S. Much applause to you guys for making these experiences available to others.

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