April 4, 2018
Life Insurance and Mortgage Commitments: A Power Couple?
You could call Will and Tomiko a power couple, and many do. They would say it’s silly, but those who know them, and work with them, would tell you that they are equally driven and give 110% to their careers and to each other. Just colleagues at first, Will and Tomiko met in their early 30’s as rising stars at their mutual employer, Amazon. It wasn’t long after their initial meeting that Will from Software Development and Tomiko from the Kindle Team became simply, “Will and Tomiko.”
With early success in their individual careers at Amazon, both Will and Tomiko were living in downtown condos that they loved. So, when it came time to move in together it took them a while to decide on a place close to their downtown offices and they eventually ended up renting.
Fast forward a few years later: Working from the Amazon offices in South Lake Union, Will and Tomiko are married, and have just purchased their dream home in Westlake with a 30-year mortgage. While the fixed interest rate was appealing to them and recommended by their lender, they didn’t like the idea of having a mortgage payment hanging over their heads for the next 30 years. So, looking to put their collective excess earnings toward the mortgage, they set a goal to have the resources to pay off the mortgage in 10 years. Ambitious? Yes. Possible? Absolutely.
To do so, Will and Tomiko met with us and decided to invest their excess family income into a Life Insurance policy that will provide tax-deferred growth on the cash value to help pay their 30-year mortgage after 10 years. Not only will they meet their goal and own their forever house outright, they also get the added benefit and assurance of having a policy in place for their chosen life partner.
If you enjoyed this article please follow us on Facebook, Twitter, and LinkedIn for more insightful articles and advice.
“Experiences of clients with life insurance products will depend on their unique facts and circumstances and we cannot guarantee the same results for all clients.”