Jim Bix was a newlywed when he was diagnosed with an incurable lung disease. While his health remained stable for two decades, his condition finally began to deteriorate, leaving him unable to work. With a wife and two daughters, Jim and his family relied on disability insurance he had through work to help pay for their daily living expenses, as well as the added medical bills. When Jim died, it was his life insurance coverage through work that allowed his wife to pay off debts, keep their girls in private school and remain in the family’s home.
His health remained stable for two decades, so he was dismayed when his condition finally began to deteriorate. Now dependent on an oxygen tank to breathe, Jim was no longer able to work as an electronics technician at Honeywell. Fortunately, he had disability insurance through work, which helped the Bixes pay for day-to-day living expenses as well as the added medical bills.
Just as Jim’s condition turned critical, his wife, Clara, learned that she needed surgery to remove a cancerous kidney tumor. The operation was a success and Jim literally sang with joy, relieved that his children would still have their mother. The songs were short-lived. Jim died three weeks later.
It was the life insurance that Jim had through work that allowed Clara and the girls to carry on financially after his death. Jim had an employer-paid life insurance benefit and each year he paid extra to double the coverage amount. The life insurance proceeds allowed Clara to pay off debts, keep the girls in private school and remain in the family’s home.
Brittany, now 21, was so moved by the far-reaching power that life insurance had on her family, that she is pursuing a college degree in insurance and has become a licensed agent. “Life insurance was the greatest gift my dad could give us,” says Brittany. “It has allowed us to live life the same way as when he was here with us.”