Case Scenario #8 : Diabetic and recently discharged from bankruptcy

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Clients : Peter, 39, and Julia, 36

 

Insurance Needs

Peter, 39, and Julia, 36, are newly married and expecting their first child. While excited about the future, they are mindful of the financial risks that unforeseen events could bring, and now feel a pressing need to secure life insurance to protect their family.

Non-Medical Risk: Bankruptcy

Peter was discharged from bankruptcy just prior to meeting Julia, over three years ago. Throughout that time, he worked hard to rebuild his finances, balancing full-time work as an electrician with side jobs. Today, Peter earns a solid income from both his primary job and side projects, and he and Julia own a home and a car. 

Medical Risk: Diabetes

Peter wasn’t surprised by his Type 2 diabetes diagnosis two years ago, considering his family history and the
unhealthy lifestyle he adopted during his bankruptcy. Now financially stable, he manages his condition with
medication and has made significant efforts to improve his diet and stay active. 

Qualifies for

Immediate Simplified Issue coverage up to $750,000 with Assumption Life’s Platinum Protection.

Tailored Solution

Peter and Julia opt for a joint first-to-die policy of $750,000, on a 20-year term, to protect their home and
other obligations.

Did you know? 🗸 We don’t ask for financial information. 🗸 We don’t ask about the type of diabetes, age at diagnosis, or treatments. 🗸 In case of divorce or legal separation, the joint policy can be split into 2 individual policies, each retaining up to 100% of the sum insured.