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Client Stories... Stella and John

Married couple taking care of their family's future

Stella and John have been married for some time, but recently their circumstances have changed quite significantly.

Both have good jobs, although Stella works part-time as they have two small children. Until last year when their second child came along they had a relatively manageable mortgage which was easily covered by their death in service packages from work and their pension benefits, so they had never worried too much about life insurance.

With child number two they definitely needed to move to a bigger property so their mortgage had grown considerably. So did childcare costs and Stella was worried that if anything should happen to either of them, especially a long term illness, they would not have enough income pay the mortgage. Even worse, if there was not enough money for childcare it would be impossible for the other spouse to keep working.

FMB looked at the existing benefits available and discussed with Stella and John the level of cover they would need to keep a reasonable income coming in should anything happen to either of them. With our expert knowledge of the many different types of life and critical illness protection we were able to find the best solution that was manageable within their budget.

Stella and John took this opportunity to sit down with the Financial Planner and look at their goals for the future. We used cashflow modelling software to show them how they could juggle their mortgage, pensions and savings in the future to provide some money to help the children at university and make sure they were on track to have the level of income in retirement they would expect.

Stella and John went from having their heads in the sand to taking a look ahead and knowing they had a plan in place to get them where they wanted to be.

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