Lindsay and Marcus were in their mid-30s, juggling work, family life, and a long list of financial priorities; paying down student loans, saving for a home upgrade, and planning for their kids’ education. Marcus worked full-time in healthcare, while Lindsay ran her own interior design business. Their income was substantial but not predictable month-to-month, especially with one partner who was self-employed.
During their annual financial check-in with their Cetera Planning Partners team, they raised a big question: “Are we doing enough to protect each other if something ever happens?”
Like many families, Lindsay and Marcus had life insurance through work, but after reviewing their policies, it became clear that the coverage wouldn’t go very far. Their biggest concerns were:
- Replacing income if either partner were gone
- Making sure the mortgage and everyday expenses could still be covered
- Avoiding the burden of financial stress on top of emotional stress
They also didn’t want to overpay for coverage they might not need, or end up with the wrong type of policy.
Working with their wealth advisor, they added life insurance as part of a broader financial strategy. After walking through a few scenarios and discussing their long-term goals, they secured individual term life insurance policies designed to:
- Cover debt (including the mortgage)
- Replace several years of income
- Provide breathing room for the surviving partner to make thoughtful financial decisions
Today, Lindsay and Marcus feel confident knowing that if life throws them a curve ball, they have a plan to protect their family, without sacrificing their other financial goals.
