What’s YOUR Plan B? A Walter White Case Study

What’s the connection between Walter White in Breaking Bad and life insurance? Life insurance doesn’t make for good television, but it does make for an interesting case study! 

Setting the Scene

Remember Walter White? The seemingly innocuous high school chemistry teacher turned drug lord from the hit TV series Breaking Bad? His life took a drastic turn after receiving a terminal lung cancer diagnosis. With no financial safety net in place, Walter resorted to manufacturing and selling illegal drugs to provide for his family after his death. But what if Walter had been properly insured? In this light-hearted, fictional case study, we’ll explore how having the right insurance coverage might have led to a less “breaking bad” scenario for our dear Walter.

Breaking Bad Meets Insurance: The Story That Never Was

Walter White’s life went from 0 to 100 quickly when he decided to enter the world of illegal drugs. He risked his life, lost his marriage and quality time with his son. It turned into a spiralling nightmare. 

But in an alternate universe where Walter was an Orbital client, he might have spent his days flipping burgers at a family barbecue rather than producing drugs in an RV. Let’s take a look at the insurance policies that could have saved Walter from his life of crime.

Firstly, the role of your life insurance adviser is to help you think through your plan b and understand the ‘what ifs’. No one enjoys thinking about a possible cancer diagnosis, but we do need to think about what would happen if something like that did occur. In a normal client consultation, we would have spoken to Walter about four key areas: 

  • If something happens to you, where do you want your family to live?
  • What do you want to provide for your children? (i.e. schooling, a head start in life)
  • How much do your spouse/partner and children need to live on? 
  • Any unique considerations specific to your family? Do you wish to leave a legacy?

Life insurance could have been Walter’s ticket out of the drug business. With a solid life insurance policy in place, Walter’s family would have received a lump sum payment upon his terminal illness diagnosis, providing financial security and sparing them from the consequences of his criminal activity. No need for the Heisenberg alias, just plain old Walter White, loving husband and father.

Say No to Drugs (Except Chemo)

We would also have encouraged our client to consider their own needs and treatment. Who will look after you if you’re not able to look after yourself? Will someone in your household need to stop working to care for you? Is there money available to pay for care? 

Trauma and/or TPD (Total and Permanent Disability) insurance could have covered Walter’s costly cancer treatments and prevented him from resorting to illegal activities with a lump sum payment to cover medical expenses and lost income. Instead of manufacturing drugs, Walter could have been spending time with his family, focusing on his health, and binge-watching his favourite TV shows. More bonding over breakfast, less dodging bullets.

Cooking Up Financial Security

Income protection insurance would have replaced a portion of Walter’s salary when he became unable to work, ensuring his family’s financial stability. Instead of being the one who knocks, Walter could have been the one who relaxes, knowing that his family’s financial future was secure.

In a world where Walter White had the right insurance coverage, the Breaking Bad series might have been a lot less dramatic. Walter could have focused on his health and family, leaving the world of illegal drugs far behind. Though we’d miss out on the thrilling adventures of Heisenberg, Walter’s alternate story serves as a poignant reminder of the value of insurance.

Insurance is No Laughing Matter

This amusing case study offers a friendly nudge to take insurance seriously. While we may not face the extreme situations Walter White did, life can be unpredictable. By having the right insurance policies in place, you can protect yourself and your loved ones from financial hardships during challenging times.

So, before you come up with your own version of a ‘Plan B’ (even if you do happen to be really, really good at chemistry and have access to an old remote caravan), consider giving Orbital Life a call to discuss your insurance needs. Contact us here. We’ll help you secure a crime-free plan for a stable future for you and your family.

Please remember that the information above is provided as general advice only. The contents have been prepared without taking into account your personal objectives, financial situation or needs. You should, before you make any decision regarding any information, strategies or products mentioned on this website, consult your own financial advisor to consider whether that is appropriate having regard to your own objectives, financial situation and needs.

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