Preparing for the future
When Jason and Molly had their daughter, Joann, they knew they'd always do whatever they could to protect her and her future - including purchasing
life insurance. But because Jason works as a contractor and his salary isn't always consistent, they needed an option that's affordable. So, they
chose a term life insurance plan. If Jason finds himself out of work, they won't have to sacrifice their protection.
Saving for a college education
Molly and Jason both struggled to pay off their student loans from college, and they don't want Joann to do the same when she's older. Because Joann is still in diapers, they selected an age-based 529 college savings plan to save for his future education. They like how their money is invested aggressively at first, making it work harder while Joann is still young, and will eventually be invested in more modest investments once he's closer to choosing a school.
Protecting financial health
Because Jason works with heavy machinery, getting injured on the job is always a concern. That's why he and Molly agreed to purchase supplemental health insurance in case of an accident in addition to his employer's health insurance plan. It can provide money to help pay medical costs, including ambulance bills and hospital stays related to an injury that happened on the job. Plus, it can provide cash benefits to help cover additional out-of-pocket expenses.