Life insurance found me | ThinkAdvisor
What do you want to know
- Cory Schroeder was part of a bomb squad in Iraq.
- He has seen what life insurance can do when a colleague in the same unit dies.
- Now he participates in the Life Happens Real Life Stories program.
I am a Marine Corps veteran. When I served, I was a member of an elite bomb disposal team and deployed to Iraq several times. As you can imagine, the camaraderie that existed between us in the unit – a camaraderie that faced risk and danger every day – is unique and profound.
That’s why when one of my fellow Marines, Peter, died in the line of duty, I felt a strong urge to help his family. While still deployed, I caught up with his widow, Asia, and their young son, Jacob, who was only 3 years old when his father passed away. I offered to help as they transitioned into this new life, but one thing I didn’t need to do was offer financial help. This is because Peter had taken care of his family financially with life insurance.
Although the military offers basic life insurance coverage, Peter knew it wasn’t enough, and so before his last deployment, he purchased an individual policy that effectively doubled his coverage. He had been in place for only a month when he was killed.
It was my first exposure to life insurance. And although I understood that this could never replace their husband and father, it made all the difference for Asia and Jacob. They had no financial worries on top of their grief.
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Over time, the friendship that Asia and I developed grew into love and we got married, creating a new family unit. I saw with my own eyes how life insurance not only helped them meet their daily financial needs, but was also the seed to help Asia build a new life. We used part of the proceeds from the life insurance policy to start a 24/7 gym and turn our passion for fitness into a business.
Interestingly, life insurance has also played an important role in my career. After seeing the profound effect life insurance had on Asia and Jacob, I became an agent for New York Life. I now help other families – and military members in particular – with their insurance needs.
But my life insurance story doesn’t end there. Asia and I both took out term and permanent life insurance, making sure we had full coverage in place. And recently, as we’ve seen our 24/7 gym continue to grow, we’ve tapped into the cash value of our permanent life insurance policies to make a down payment on a new larger commercial space. It’s the ideal solution for the growth we envision for the gym industry.