insisting on protection

Accelerated benefits from a life insurance policy provide steady income for a family and help pay costly medical bills.

Susan Creasy, CLU, a Canada Life Assurance agent from Kingston, Ontario, met Larry and Debra Gard more than seventeen years ago. Over the years, she helped the Gard's through many of their financial planning stages.

Even so, in the summer of 1994 when Susan advised the couple to purchase additional life insurance protection, Debra was hesitant. Susan had periodically reviewed and updated the Gards' insurance policies and had suggested mortgage life insurance to protect the family's home.

"I thought it was too expensive and something we didn't need at the time," recalled Debra. "But Larry was a stickler when it came to the family. He insisted we have the protection and he trusted Susan's advice."

In the fall of 1995 Larry was experiencing abdominal pains and underwent numerous medical tests to determine the problem. The family was devastated when Larry was diagnosed with cancer. That spring Larry's doctors told him his condition was terminal.

"As a friend I would have loved to have been able to do something to help Larry get better," said Susan. "I'm grateful that I was at least able to help give him peace of mind by insuring his family's financial future."

Through an accelerated benefits provision in the life insurance policy, the family received an advanced portion of the policy's benefits. The money helped pay medical bills and provide for the family during this difficult time. It also allowed Debra to stay at home with Larry. In October 1996, at the age of 55, Larry died.

"Losing Larry was very difficult and completely unexpected," said Debra. "It's hard, but I know he wants me to go on. I'm just thankful that the insurance money enabled us to spend time together before Larry passed away."

"I'm grateful that Susan was persistent and that Larry insisted on that extra insurance. The house is fully paid for and the invested life insurance money provides income so I'm able to devote myself to my family," Debra said, "I think everyone should know just how important life insurance is."