Life Insurance Case Study
Darren is a self employed landscaper, married with 3 children under the age of 7. Darren and his wife Suzanne met whilst traveling overseas in the early 1990’s.
Within a few years they tied the knot and decided it was time to start a family. Although Darren’ business was still in the early stages, they both decided that in order to start a family together they would need to find a nice house which could accommodate the family they were about to start.
Upon taking out a mortgage their mortgage broker recommended they take our some life insurance which would protect their childrens future should something happen to either of them.
In 2006 Darren died of a sudden heart attack whilst working in the backyard.
Thankfully the life insurance they had taken out helped Suzanne pay off the mortgage aswell as investing some of the money .
Had Suzanne and Darren not taken out life insurance years earlier,things could have been a lot different.