9 April 2014 0 Comments

Another Real Life Story

shutterstock_112040234The following three real life stories are from www.lifehappens.org, a site sponsored by a non-profit organization supported by scores of insurance organizations.  It is an excellent resource for great, unbiased information on life, disability income and long term care insurance.

The Don Wachtel Story

Don Wachtel loved fixing and refurbishing things, so it’s no surprise that he built a thriving tile business, channeling that passion into clients’ homes.

When insurance agent Chris Manfredi met Don, he recognized a kindred spirit.  They were both in their 30’s, raising families and working hard to grow their businesses.  That’s why he made it a priority to help Don get a term life insurance policy.

About 10 years after he bought his coverage, Don began to have severe headaches and forgetting things.  Doctors diagnosed the problem as an inoperable brain tumor.  As the disease progressed, Don was unable to continue working.  That’s when the policy’s waiver of premium rider kicked in so he no longer had to pay the premiums.  When Don was not expected to survive his cancer, the Wachtel’s were also able to access up to 50% of the death benefit while Don was still alive under the policy’s accelerated death benefit feature.

That money allowed the family to take memorable vacations and pay for some day-to-day living expenses.  In addition, his wife, Tonia, was able to take a leave of absence from her job so she could care for Don at home.  It was there that Don died at age 47, just 19 months after being diagnosed.

The remaining death benefit helped Tonia pay for the funeral and to stay at home with her two daughters for several months as they grieved.  And it continues to make a financial impact.  “Without life insurance, I would have had to go back to work immediately, get a second job, and we surely would have lost our home,” Tonia says.

Next…a real life story where life insurance was not involved.

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