Brian
House always knew that one day he would run the family's Chevrolet
dealership. But he never imagined that it would be at age 29,
after his father suffered two massive heart attacks and died three
days shy of his 50th birthday. Brian and the family were grief
stricken, making it difficult to even think about what would happen
to the dealership. Reymore Chevrolet, however, had not survived
through three generations of family stewardship by accident. Solid
financial planning had kept the business secure, and this instance
would not be an exception.
Family
friend and Guardian Life Insurance Company of America insurance
agent Richard "Dick" C. Murphy, CLU, had worked with Brian's father,
Jim, and Jim's father, Eddie to ensure that both the family and
business would be protected in the event of a tragedy. When Jim
died, his life insurance proceeds ensured that his wife, Nancy,
would be financially secure.
"Our
first concern was for mom," says Brian. "The money from dad's
life insurance means she will be well cared for throughout her
life."
The
key person life insurance owned by the firm provided much-needed
cash to help ensure a smooth transition. Today, Brian is vice
president and dealer-operator, his sister, Cheryl, is a top sales
person and secretary-treasurer, and their mother, Nancy, works
in the dealership as president.
"The
money has really strengthened our financial position and assured
that Reymore Chevrolet will continue to be one of the most successful
dealerships in central New York State for many generations to
come," adds Brian.
