Debt can feel like an endless battle. For one Canadian family I met in 2018, it had become their reality, a constant cycle of payments with no progress, a looming sense of financial uncertainty, and a growing fear of “what if.”

This is their story. And it’s one that shows how the right financial advice, a solid debt consolidation strategy, and proper life insurance coverage can make all the difference when life takes an unexpected turn.

The Family: Stuck in the Debt Trap

In 2018, I met a family of four: a husband working full-time, a self-employed wife, and two young children. They were doing everything they could to stay afloat, paying the mortgage, covering the bills, and making payments on their debts. But it wasn’t working.

Their situation looked like this:

• Mortgage payment: $2,000 per month
• Debt payments: $1,640 per month (multiple loans and credit cards)

Month after month, they were paying $1,640 just to service their debt. And yet… the balances weren’t going down. They had been stuck in this cycle for years, feeling like they were working so hard but never getting ahead.

Step One: Debt Restructuring – A Lifeline

Our first step was clear: debt restructuring.

By reviewing their entire financial picture, we were able to consolidate their debts and lower their total debt payment to $500 per month, a savings of over $1,100 per month.

But it wasn’t just about lowering payments. It was about creating a clear, realistic plan to get them debt-free within five years.

This wasn’t a quick fix. It was a long-term strategy to help them regain control of their finances, reduce their stress, and start building for the future.

Step Two: Insurance—The Safety Net They Didn’t Know They Needed

Like many families, they had some insurance in place, but they didn’t really understand how it worked.

• They had taken what someone else had offered them… policies that seemed okay on paper, but didn’t truly protect their family if something serious happened.
• They were paying premiums, but they had a false sense of security.

After a full review, we put proper protection in place:
✅ A $500,000 life insurance policy
✅ A disability rider to ensure income protection if illness or injury struck

This step gave them true peace of mind, knowing they were protected no matter what life threw their way.

Then the Unthinkable Happened: Cancer

During the pandemic, the mother & wife was diagnosed with cancer.

She needed surgery, treatment, and many months off work. The family faced not only the emotional and physical toll of her illness, but also the financial strain of lost income.

But this is where their story changes… for the better.

Because of the disability rider we had added to their life insurance policy, she was able to file a claim and receive income replacement during her time off. This crucial support helped them:
✅ Keep up with their mortgage payments
✅ Manage day-to-day expenses
✅ Avoid falling behind on their restructured debt payments
✅ Focus on her recovery, not financial survival

Without that insurance protection, their finances would have crumbled under the weight of $1,600 in monthly debt payments and the sudden loss of her income.

Instead, they were able to weather the storm.

The Comeback: Health, Work, and a Brighter Future

Thankfully, she beat cancer and is now back to work full-time, healthy, and saving for a better future.

Their journey is a powerful reminder:

• The right financial plan matters.
• Debt consolidation is more than lowering payments, it’s a strategy for freedom.
• Life insurance is not just a checkbox… it’s your family’s safety net.

Your Story Can Be Different Too

Debt, uncertainty, and unexpected life events can happen to anyone. But with the right support, you don’t have to tackle it alone.

At Arlene Financial, we’re more than just financial advisors. We’re your partners in building a secure, protected, and free financial future. Whether it’s creating a debt consolidation plan, reviewing your insurance, or simply answering your questions, we’re here to help.

✅ Let’s build your financial freedom together.
✅ Let’s ensure your family is truly protected.
✅ Let’s create a plan that works for you.

Contact us today to get started.

Disclaimer:

World Financial Group (WFG) is a financial services marketing company whose affiliates offer a broad array of financial products and services. WFG and its agents do not guarantee financial outcomes. All financial decisions should be based on personal assessment and individual goals. Insurance products are offered through World Financial Group Insurance Agency of Canada Inc. in Canada.