Stratus Case Study: Avoiding Financial Surprises

Background:

A recent UBS study found that 56% of widows experience a financial surprise at the death of their spouse. Additionally, a widow can expect an average 37% decline in income – money that won’t be there to maintain their standard of living.

Many times, those bad outcomes result from the absence of a good review.

Here’s the story of one couple that we were able to help avoid such a reality.

The Problem:

Fred and Wilma recently retired. They did seek a review with their attorney, who recommended some changes. She also sent them to us to have Fred’s policy properly reviewed. Was Wilma vulnerable to a financial shock at Fred’s passing?

The Solution:

There were only a couple of things that needed to be tweaked – no problem. More importantly, the review allowed us to certify two things; First, that policy was still important. It was the cushion Wilma needed to keep her income from dropping at Fred’s passing. Secondly, we were able to identify exactly what the cost was to continue the policy to age 100 (no surprises)-and that it was affordable.

Now there’s no doubt-Wilma’s safe. Her future income has been secured. There’s no financial surprise hiding in the bushes because her professional team members completed a proper review.


Independent Policy Review: 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.

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