Insuring One Family’s Future
Trish Sneddon, CSA, CLTC, MMA Counselor

Financial Counselor Brad Shelly, left, with his client, Joyce Lang.

“Having Life and Disability insurance was always important to my husband. We see it now to have been such a loving gesture to our family,” says Joyce Lang, his widow. Peter died five years ago, at age 52, from a brain tumor. But Joyce hadn’t always believed in that gesture, as she questioned paying for their Life and Disability insurance premiums over the years while on a budget. They had some term insurance, and some whole life insurance that allowed them to buy additional coverage over the years. They had two young children at the time, and were struggling to afford to keep them in private school, which was important to them. But Peter always insisted that they buy the additional coverage when it was offered. And time proved that his insisting on making this a budget priority was the right thing.

Facing Life’s Challenges
Peter unexpectedly lost his job a few years before his tumor was diagnosed, and they borrowed on the cash value from their permanent insurance policy to help them make ends meet. That in itself was a godsend at the time. Then they paid the loan back when he was working again so the death benefit went back to full value.

After Peter’s diagnosis and surgery, he was unable to work for the two years prior to his death. During that time, his Short-Term and Long-Term Disability insurance kicked in. Because of that, Joyce was able to stay home and take care of him “If it wasn’t for the Disability Insurance, I would have had to go to work in order to pay the bills, and we may have had to put him in a nursing home,” says Joyce. “But we had the peace of mind of knowing that our basic financial needs were covered so we could focus on our family, and Peter had the peace of knowing that even our future needs would be met if he died.”

Help When It’s Needed Most
After Peter’s death, Joyce needed some time to rest and heal her spirit after the last year of full-time care giving. Because of the life insurance benefit, Joyce was able to take the time she needed, before returning to work nine months later. Going back to work part-time was her choice, not a necessity, because she loved her work as a nurse.

Peter’s death also left Joyce with many financial details to figure out. At that time she turned to their financial counselor, Brad Shelly at FIFS, whom they had been working with over the years. Brad helped her work through the transfers and rollovers and set-up her investments to give her the short-term income she needed, and the long-term security. “Brad’s help was invaluable,” says Joyce. “He put in so many hours evaluating and organizing my finances, and he always took the time to explain things to me so that I could understand them. I truly value his friendship and the integrity of his guidance.”

The life insurance death benefit allowed Joyce to pay off her house and her bills, and allowed her to make some charitable gifts in Peter’s name. She has also had the satisfaction of setting up education funds for each of her grandchildren as “a gift from their Grandpa.”

Joyce’s Life Today
Now, five years later, Joyce is thankful to have the financial freedom that her husband left as his legacy, as she has recently left one part-time job so that she can take care of her ailing mother. And she continues in her position as Minister of Visitation and Care at Finland Mennonite Church, where she is able to give of her time and spirit to the members of her church.

FIFS Connection, Spring 2006, Vol.3, No. 2