Man on phone receive bad news

What? George Died???

One of the things I’ve learned in this job is that we can’t always prevent bad news, but what we do can lessen the impact of that bad news.

Here’s an example:

Problem

George died. He was lean and active and vibrant. You’ll never find a healthier sixty-year-old. He was a partner in a well-run business and married to his childhood sweetheart.

George really didn’t have a lot of problems. His passing, however, has created some big ones. First of all, George was bringing home $1 million per year. That’s now going to stop.

Second, his business partner has two major problems; figuring out how to come up with the cash to buy out George’s 50% without crippling the business going forward, and how to replace those gifts and the talents George possessed which had contributed so much to the success of their business.

It’s not all about money, but the need for money is, suddenly, much more significant than it was before.

Solution

Fortunately, a few years ago, George’s attorney brought me in as a team member to review his life insurance policies. After a couple of tweaks, we were able to certify that yes-the policies were fine.

Deep down, (like so many of us) they never thought they would need all this. The Buy and Sell Agreement, however, is current. So is the insurance. That means the money needed to solve those problems is going to be there.

Outcome

Now George’s wife and his business partner can focus on the important stuff.

Here at Stratus Financial Partners, we are Life & Disability Analysts. We review, evaluate, and certify life insurance policies – including existing ones. Existing insurance policies need to be reviewed – especially if you don’t think you’re ever going to need them.

Just ask George’s business partner. Or his wife…

Know anybody like George? Do them a favor-have them double check to be certain their planning and their insurance policies are current. Even if they think they don’t really need it. (You and I know better.)

It’s our business to make the world a better place, one policy at a time.

The insurance world can be difficult to navigate. Without a clear understanding of their current plan, it’s difficult to be certain that your clients have the right coverage. If you’d like to take a closer look, you’ve come to the right place. We can answer your life insurance questions and provide the clarity you need to sleep easy. Learn more about our services or join our newsletter today. To contact us, call 951-823-8100 or click here.

Scroll to top