Case study: Hardworking Parents on a Budget

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Clients: John, 33, and Sara, 32

Insurance Needs

John, 33, is a construction supervisor, and Sara, 32, is a registered nurse. Both work long hours due to staffing shortages in their industries. While they appreciate the overtime, they worry about the unexpected. What if one of them – or both – became ill or injured? As parents of three young children and homeowners with a mortgage, they feel the weight of their responsibilities.

Eligibility

Since John and Sara are both in good health, they easily qualify for Assumption Life’s FlexTerm, an underwritten term product offering coverage of up to $10,000,000.

A joint policy is perfect for couples with shared debt, offering affordable and flexible financial protection for both partners through a single, straightforward application.

Tailored Solution

John and Sara’s tailored solution includes life and disability insurance, ensuring protection safeguarding their financial security at an affordable cost:

• $800,000 of decreasing coverage with FlexTerm, on a 30-year joint first-to-die policy
• $1,500/month DI rider for each

Did You Know? 

• Joint policy: In the event of separation, each client can receive a new policy equivalent to 100% of the sum insured in the previous joint policy.
• Disability Insurance Rider: Our competitive DI rider covers lease payments, condo fees, and property taxes. Clients can qualify for up to $1,500/month while on parental leave.
• Child Insurance Benefit rider: You can add $10,000 of coverage for all eligible children for just $5 more per month – one flat fee, no matter how many children are covered.

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