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It’s About FINANCIAL SECURITY

PROTECTING THE

WHOLE FAMILY’S PHOTO: © ISTOCKPHOTO.COM/PORTFOLIO/HISPANOLISTIC

FINANCIAL SECURITY

By Joy Collins FICF, Regional Director

homas, age 31, and Penny, age 30, Because every family’s needs and goals are different,
Woman’s Life offers many options and combinations
have two children: Aaron, age 8, of life insurance plans and riders. Here are just two
Tand Stephanie, age 5. This young scenarios Penny and Thomas might consider.
family recently purchased a new home, Scenario one: one plan with optional riderS
and Thomas and Penny want to make sure Covering the entire family under one plan is possible
by adding riders to one base plan. Combining a whole
that if one of them died, the family would life plan and a term rider for Penny can provide a larg-
be able to maintain their home and cur- er total benefit while keeping costs lower.
rent lifestyle while also covering any funer- Penny, $150,000 death benefit Intuitions ®

al costs and final expenses. age 30 Whole Life Insurance with the following
riders:
To find the right approach for their family, Thom- ▶ 20-Year Level Benefit Term Rider:
as and Penny outlined their current financial needs providing Penny with $150,000 in
along with some of what they anticipated for the fu- additional convertible term life insur-
ture, including college for the children, and funding ance coverage.
their own retirement. Like many people, they began ▶ 20-Year Spouse Term Life Insurance
their research online and later spoke with a trusted Rider: providing Thomas with
Woman’s Life representative. $150,000 in convertible term life
Thomas and Penny learned that life insurance can insurance coverage.
provide a solid foundation for their financial security ▶ Children Term Life Insurance Rider:
as well as positive options for their family if the worst providing $25,000 in convertible term
were to happen. Their research also showed that pur- life insurance for both children until
chasing convertible term life insurance while they they turn 25.
are young and healthy can guarantee they’ll be able
to convert to whole life coverage when they’re a bit Total monthly premium for the entire family: $136.08
older, even if their health changes.

4 WOMANSLIFE.ORG FALL 2023