Situation: Traditional families, those with one or two income earners and dependents, usually own their own homes (or are renters, and have plans to buy), and have one or two car payments. They, typically, have a number of other goals that require money, including college educations for their children, and comfortable, worry-free retirements for themselves. Many families also have financial responsibilities to children from previous marriages, or to former spouses, and, increasingly, to aging parents. With these and other financial responsibilities always pressing, it's hard to feel secure about the future.

Single-income families may be making plans for the non-working spouse to return to work after the children are out of school, or a dependent parent no longer needs their care. Many two-income families plan just the opposite. That is, for one spouse to be able to stop working after the financial demands of raising and educating children, or caring for aging parents, are no longer present.

Either way, it takes income to maintain a family and achieve the other things we consider important for our children and ourselves. And, today, financial and lifestyle decisions are very likely being made by both spouses, not just one. While the situations of single working parents and single adults without dependents are obviously different in many ways, their present and future choices are also shaped by their ability to bring home a paycheck.

Problem: The death of a breadwinner, while a personal tragedy for the family, can also mean the loss of vitally needed income. It doesn't take long in these situations for savings and investments to be depleted; for the family's lifestyle to be threatened; or for hopes and dreams to be ruined.

Other sources of income, such as Social Security, 401(k) plans, personal and employer group life insurance benefits, may delay the inevitable, but it's often only a matter of time before the surviving spouse faces some hard choices that were never part of the original plan. Maybe the toughest question of all is, "Why didn't we do something when we still had the chance?"

Solution: Life insurance replaces income lost when a breadwinner dies, thus protecting the surviving family's future financial security. Life insurance and annuities provide protection against life's uncertainties:

• Family income if an income-earner dies;


• Cash for emergencies, and final expenses;


• Income to make house payments, or cash to pay off the mortgage; or


• Income to pay the rent;


• Accumulation of funds for children's/grandchildren's college tuition;


• Funds for dependent child or parent care;


• Income at the death of a non-employed spouse, or at retirement; or


• Cash for the payment of estate or inheritance taxes.

Back to Top | Next

Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.

28