A Growing Family, A New Mortgage
A couple in their early 30s just bought their first home and welcomed their second child.
The Concern: If either parent passed away unexpectedly, could the surviving parent keep the house and cover childcare without a financial crisis?
Our Approach: A 20-year term policy sized to cover the mortgage balance plus several years of income replacement.
Illustrative Outcome: A term policy structured this way can help the death benefit clear the mortgage and replace lost income for a period, giving the surviving spouse room to adjust.
Illustrative coverage discussed: $400,000–$600,000 (fictional example, not a quote).