Success Stories: A Collection of Impactful Case Studies
Case Study 1: Protecting Mortgage with Life Insurance
Client Profile: a married couple in their late thirties, with 2 young children
Financial Goals: Protect mortgage, and ensure family's financial stability
Outcome: secured a term life insurance policy that provided the required coverage to protect their mortgage. They had peace of mind, knowing that in the unfortunate event of either of their passing, the policy would pay off the remaining mortgage balance, ensuring their family could keep their home without the financial burden.
Case study 2: Planning for a Child's Future with Child Participating Policies
Client Profile: Parents in their early 30s
Financial Goals: Save for kid’s education and provide a financial cushion for her future endeavors. Clients were concerned about the rising cost of education and wanted to start saving.
Proposed Solution: Conducted a detailed needs analysis to understand client’s financial situation, risk tolerance, and long-term goals. Recommended a Child Participating Policy that offered life insurance protection while accumulating cash value over time. The policy allowed them to regularly contribute to the savings component and participate in dividends. Over the years, the policy accumulated significant cash value that the child could dip into at different stages of their life (i.e. education, buy their first car, buying a house, etc).
Case Study 3: Super Visa Insurance for Parents Visiting Canada
Client Profile: Parents of Canadian Permanent Resident visiting their son and grandchildren in Canada for an extended period on a Super Visa
Outcome: Explained the specific insurance requirements for a Super Visa, including coverage for at least $100,000 in health insurance, valid for a minimum of one year from a Canadian insurance company. Presented multiple Super Visa Insurance plans to the clients, comparing coverage details, premiums, deductibles, and other relevant features to help them make an informed decision. Successfully obtained a Super Visa Insurance policy that met the Canadian government's requirements for their extended visit to Canada. The policy provided them with peace of mind, knowing they were adequately covered for any unforeseen medical emergencies during their stay with their son and grandchildren.
Case Study 4: Safeguarding Financial Well-being with Critical Illness Insurance
Client Profile: Married couple in their 40s, with two teenage children
Financial Goals: Protect family's financial stability and cover medical expenses in case of a critical illness.
Client sought advice on how to protect her family's financial well-being and cover potential medical expenses that are not covered by the province and could arise if she were diagnosed with a critical illness. Educated the client on critical illness insurance, explaining the purpose, coverage, and benefits of having such a policy. Discussed the range of critical illnesses covered and the financial protection it offers along with the opportunity to receive all the premiums back, if no full-payout claim was made. The client secured a critical illness insurance policy (with Return of Premium on Cancellation rider) that gave them peace of mind, knowing that the family would be financially protected in case of a major health event.
