News Releases
MILWAUKEE, Oct. 20, 2014 /PRNewswire/ -- John Peden was one of those larger-than-life personalities. "When he would walk into a room, it was like all the attention was on him," said his stepdaughter, Jenna Peden. "He just had this power emanating out of him."
To view the multimedia assets associated with this release, please click http://www.multivu.com/players/English/7100754-northwestern-mutual-client-stories-planning-preparation-pay-off/
The 6-foot, 4-inch former U.S. Air Force captain was a respected dental surgeon in Nashville. He was active in his church and made many mission trips to provide dental care in Central America through Health Talents International.
That's why it was such a shock to his family and friends when an MRI revealed a brain tumor the size of a golf ball. "Life as we knew it was no more," said his wife, Vicki Peden. "John never worked another day in his life."
Fortunately for Peden and his family, he had a safety net in place. Cullen Douglass, a wealth management advisor with Northwestern Mutual-Nashville, had set up life insurance and a disability insurance plan for Peden that would protect his income, his family and his practice should something happen to him. "Because of planning, he was able to keep his practice open," Douglass said. "If we hadn't done the planning we did, it would have been a train wreck."
Statistics show most Americans aren't financially prepared should they become disabled, with 70 percent of households with children under 18 saying they would have trouble meeting everyday living expenses within a few months should a primary wage earner die.1
"I tell people all the time you need to prepare, you need to plan," Vicki Peden said. "What would happen if your husband couldn't work anymore? Do you have the disability insurance to take care of that? We did. And fortunately we did or we would have lost everything."
The Peden family's experience is part of Northwestern Mutual's ongoing Client Stories series, which highlights the importance of financial planning. See the video here.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With more than $217 billion in assets, $26 billion in revenues and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.2 million people who rely on us for insurance and investment solutions, including life, disability insurance and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.
1 Life Insurance and Market Research Association, Household Trends in U.S. Life Insurance Ownership, 2010
To view the multimedia assets associated with this release, please click http://www.multivu.com/players/English/7100754-northwestern-mutual-client-stories-planning-preparation-pay-off/
SOURCE Northwestern Mutual