Every family's situation is different. Here are illustrative examples of how term life, IUL, and legacy planning typically come together.
These are fictional, composite scenarios created for educational purposes only. They do not represent actual clients, and any figures shown are illustrative examples, not quotes, promises, or guarantees. Your results depend on your age, health, income, and carrier underwriting.
Term Life
A Growing Family, A New Mortgage
A couple in their early 30s just bought their first home and welcomed their second child.
ProfileCouple, early 30s, first home + second child
GoalProtect the mortgage and household income
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).
IUL
Self-Employed, Building Retirement From Scratch
A self-employed consultant in their mid-40s has no employer retirement plan and wants both protection and a way to build savings.
ProfileConsultant, mid-40s, no employer 401(k)
GoalProtection plus tax-advantaged retirement savings
The Concern: Retirement is roughly 20 years away, and a market downturn late in their career is a real worry.
Our Approach: An IUL policy combining a death benefit with cash value growth linked to a market index, with a floor that limits downside in a bad year.
Illustrative Outcome: Modeled using historical average index performance (never best-case), this approach can offer a supplemental income stream in retirement on top of permanent coverage.
Illustrative monthly contribution discussed: $300–$500 (fictional example, not a quote).
College Fund (IUL)
Planning Ahead for College, Without a 529
Parents of a 4-year-old want to start saving for college without locking money into a 529 plan that penalizes if the child doesn't attend a qualifying school.
ProfileParents of a 4-year-old
GoalFlexible education savings
The Concern: They want flexibility if plans change, and are wary of how savings could affect financial aid eligibility.
Our Approach: An IUL policy funded over 14 years before the child starts college, used later as a flexible funding source alongside other tools.
Illustrative Outcome: Modeled conservatively, the policy's cash value can supplement (not replace) other college funding sources by the time the child turns 18.
Illustrative time horizon: 14 years of funding (fictional example, not a quote).
Estate & Legacy
Keeping a Family Business Intact
A business owner in their mid-50s wants their two adult children to inherit the business and family property intact.
ProfileBusiness owner, mid-50s, two adult children
GoalPass down the business without a forced sale
The Concern: Illiquid business assets could force a rushed sale if a large estate settlement cost comes due all at once.
Our Approach: A permanent life insurance policy sized to cover anticipated estate settlement costs.
Illustrative Outcome: Structured this way, heirs can use the death benefit to cover costs instead of liquidating the business under pressure.
Illustrative coverage discussed: $750,000–$1,500,000 (fictional example, not a quote).
Key Person & Buy-Sell
Two Partners, One Business Built Together
Two partners equally own a company they built together over many years. One partner drives most of the sales and client relationships, so their sudden death or disability would put revenue, contracts, and jobs at risk almost overnight.
ProfileTwo 50/50 business partners, company valued $8M–$12M
GoalKeep the business running and ownership clean if a partner dies
The Concern: Could the company survive losing its top revenue driver? And would the surviving partner end up unexpectedly co-owning the business with the other partner's spouse or children, who have no experience running it?
Our Approach: A two-part structure: the company bought a key person policy on the revenue-driving partner to cover the cost of replacing that role, and the partners each bought a policy on the other's life to fund a buy-sell agreement.
Illustrative Outcome: Modeled this way, a key person payout could help the company cover recruiting and transition costs, while the buy-sell policy lets the surviving partner buy out the other's share, so the family receives a fair cash payout instead of a stake in a business they can't run.
Illustrative coverage discussed: $2,000,000 key person policy plus a $5,000,000 buy-sell policy per partner (fictional example, not a quote).
See what this could look like for you.
Every plan starts with a conversation about your actual situation, not a generic pitch.
