10 Ways to Pay for Your Life Insurance
Think life insurance is “TOO EXPENSIVE”??? Well it’s really not. Even if you get a 10 year term policy for $150,000 your rate is going to be between $20-$100/month depending on your age, nicotine use, driving record, and overall health. To put it bluntly your cell phone and your cable bill are easily $100/mo each if not double that.
So for the budget conscious let’s look at some options. I use that term budget conscious loosely, because if you’re spending $200-$300/month between your cable and cell phone you should be able to spend a few dollars on YOUR FAMILY and protecting them.
1. Create a budget. Track your expenses: knowing where your money is going may help you identify areas where you can easily reduce your spending. There are many free money management tools and apps that can assist you with this.
2. Quit smoking. It benefits your health, and a pack-a-day smoker can save over $2,000 per year based on the average cost of a pack of cigarettes. Non-smokers can also expect lower life insurance rates – all other factors being equal – than smokers.
3. Bring your lunch to work. By not spending just $5 a day you are looking at saving about $1,200 a year. You don’t have to bring your lunch every day: even bringing your lunch every other day can result in savings that can help cover the cost of a life insurance policy, and possibly even more.
4. Eat out one less time per month. If it costs you about $30 on average each time you go out, reducing this number by once a month will allow you to save over $300 a year. If you eat out and have 2-3 children with you this figure will be even more staggering.
5. Bring coffee from home. Do you spend $3 a day on coffee during the work week? If so, this can add up to $720 per year. Cutting this number in half can result in significant savings.
6. Save your loose change. It may not sound like much, but setting aside fifty cents a day over the course of a year will allow you to save more than $180.
7. Take advantage of all company benefits and discounts. Your company may offer corporate discounts on gym memberships, cell-phone data plans, hotels, concerts, etc. that can help you save.
8. Organize your closet and garage. This can have a number of advantages. You can save time in the long run knowing where everything is located, and you may find forgotten items, reducing the need to purchase new ones. Consider consignment for items you no longer want to keep. Go ahead and donate old and unwanted/unused items and write that donation off on your taxes. If you are the type of person to hold a garage sale, you can sell those items for cold hard cash.
9. Research major purchases. Check product reviews, price comparisons, features, and other aspects of any product you are looking to purchase. Wait for sales for additional savings and discounts. A little research and timing can save big on a purchase.
10. Start small to save big. Starting with some small steps, you can easily find the money to pay for life insurance.
The hardest part of any change is getting started. Once you do, things usually start to fall into place, the process becomes much easier, and you can begin to recognize the positive impact it has on your life.
Procrastination Never hurts….
I heard some terrible news today from a friend and it’s just another reminder why insurance, and having the right insurance is so important.
Have you ever tried to buy an auto policy after your carrier already told you your rates are going up because of an accident?
Have you ever tried to buy homeowners or flood insurance when the hurricane is already en route to your house?
Have you ever tried to buy health insurance after you were diagnosed with a life changing illness?
Have you ever tried to buy life insurance after a heart attack or catastrophic diagnosis?
Today I was told by a friend of mine that someone was three days away from the period of time it would take for their life insurance policy to pay out, three days.
Did you know that if you try to buy life insurance when you have cancer sometimes you have to buy a policy with a “graded death benefit?”
That means if you die within what’s usually the first two years, all you get back is your premiums or maybe all the premiums you paid back at 110%.
However if you buy an insurance policy BEFORE something happens, maybe even a convertible term policy while you’re still health you won’t be in that situation.
Convertible term allows you to purchase based on your health TODAY and then in five or ten years (usually when your income has increased or you’ve paid off your debts) you can convert all or a portion of that policy into Whole Life or a more permanent insurance policy.
Want to know more about this?
We can talk about when you have time.
However you don’t want to wait until AFTER you’ve been diagnosed to make a decision, and have to deal with much higher premiums and much more limited options.
Let me help you find peace of mind.
Or answer any questions you may have.
Click the link below to get your own coverage, today.
Have you heard of Umbrella Liability Coverage? Here’s a couple of reasons why you might want to purchase a policy-
There is a large difference between “Having Insurance” and “Being Insured”
In each of these scenarios, a person’s “normal insurance coverage” would have been exhausted and they would have been forced to liquidate bank accounts and other assets to pay for the damages awarded.
5 Actual Claims On A Personal Umbrella Policy
Example Claim # 1: A babysitter left a 5 month old infant unattended in a walker. The infant toppled the walker, struck her head on the floor and suffered brain damage. The parents of the infant sued the teenage babysitter and her parents. The court awarded the infant’s parents $11,000,000.
Example Claim # 2: An insured’s daughter hated math class as well as the teacher. The daughter made several “disparaging” and false remarks about her teacher online. The teacher sued the parents for personal injury and $750,000 was paid.
Example Claim # 3: The insured’s 18 year old son was driving the insured’s car on a short trip to the store with his girlfriend. He lost control of the car and struck a tree. The insured’s son told the police that a vehicle cut him off, but there were no witnesses and no evidence of any impact with another car. His girlfriend, a 19 year old college student, was hospitalized for over a month with multiple fractures and internal injuries. She was in a wheelchair but is now able to walk with crutches and continues with physical therapy. She has a right drop foot as a result of the injuries. The insured’s personal umbrella policy limit of $2,000,000 was paid.
Example Claim # 4: A 28-year old engineer dove into a friend’s above ground swimming pool struck his head on the bottom and, as a result became a quadriplegic. He sued both the homeowner and the pool manufacturer. The court found the homeowner to be 60 percent responsible and the pool manufacturer to be 40 percent responsible, and awarded $10,000,000.
Example Claim # 5: The insured’s tenant claims she became ill from carbon monoxide poisoning resulting from a faulty furnace. The tenant claimed permanent brain damage and demanded $750,000.
What College Graduates Need To Know About Auto Insurance
You’ve proudly watched your child graduate from college (and celebrated the last of the tuition bills!) Now they’re searching for their first “real” job and ready for a new phase of life.
This is what you and your new grad need to know about their insurance.
First, in most situations, they can remain on your auto insurance policy as long as they are living in your household. If they’ve moved back home while job hunting, you can keep them on the policy.
But once they move out, it’s time to look at other options. Some of this will depend on who is the owner of the car and if you’re living in the same state. The best option is to talk to one of our agents to discuss your particular situation in detail.
If your graduate is moving out on their own, you’ll also want to get some information on Renters Insurance. It will protect their belongings and protect you from any liability for damage they might cause to a residence (even if it’s just an accident, like a small kitchen fire.) In most cases, a parent is a co-signer for a lease and needs to make sure this protection is in place.
The end of college marks some big transitions into adulthood. Help your new graduate to make smart financial decisions and establish a great start. We can help! Schedule a personal review and quote today.
Insurance When You Tie The Knot
Wedding season is just around the corner! And with all of that love and wedding planning in the air, it can be hard to think about the boring parts of a marriage.
So I want to make it easy for you. Here are a few things you need to think about in regards to your insurance policies when you tie the knot.
1. Combine your auto insurance policies. If you both own a vehicle, the easiest thing to do is combine your policies by adding your spouse and their vehicle to your policy. We can take care of this in just a few minutes!
2. Make sure you and your spouse are listed on every policy. You both need to be on the homeowners or renters insurance so you can get assistance if needed. Do all of them at the same time and you won’t have to worry about it again.
3. Schedule an overall review. When you combine two households you will obviously have more belongings! Speak with your agent and verify that you have enough content and liability insurance to cover any new assets.
4. Purchase life insurance. It’s your honeymoon and you don’t want to think about death, but now is the time to get this very important coverage in place. It doesn’t cost much and will give you peace of mind that the person you love will be taken care of in the future. It’s really the very best gift you can give to those you love.
The best part of this? It doesn’t have to be hard! In fact, one short appointment can take care of every item on the list. Give us a call today to schedule a review.
Top 7 Things To Look For When Buying Insurance
So you’re ready to shop for insurance and are hoping for a great deal. But did you know that there are a few things to look for that are much more important than the price of the policy? In fact, don’t buy your next policy until you look for these seven things.
#1 – A Top Rated Insurance Company – You want an insurance company that will be around if you have a claim. Don’t choose a company that you have never heard of with a price that seems too good to be true! If you are not familiar with the company your agent is recommending, ask for a little more information. Find out what they are rated in your state and how long they have been around. If the agent cannot tell you this immediately, you have the wrong agent.
#2 – Choose a LOCAL agency! While all the commercials on TV will tell you to call a 1-800 number for a quote, it’s usually not a great idea. A local agency gives the same great policies (from the same companies!) but allows you to deal with one person on a regular basis. It’s nice to have a local agent who you can go visit when needed.
#3 – Choose an agency that offers a variety of policies. Keeping your insurance with one agency makes it MUCH easier when you have a claim. Plus you can qualify for huge multiple policy discounts! Find someone who can take care of all your needs in one local location.
#4 – After-Hours Support – What if you have storm damage in the middle of the night? Do you want to wait until tomorrow to get assistance? Look for an agency that offers after-hours support! Many local agencies will provide you with 24/7 claim assistance numbers. But make sure to ask for the information and keep it in your cell phone.
#5 – Choose an agency that’s EASY to contact! You don’t want to have to chase your agent down every time you need something. Ask if the agency is available by email, text, and phone while doing your shopping.
#6 – Do they offer annual reviews? Things change, especially when it comes to insurance! You want an agency that will regularly meet with you to review your coverage and make sure you’re protected. Ask about their review procedures and how they make sure there aren’t any gaps in your protection.
#7 – Excellent Customer Service – When it comes down to it, this is the most important! Choose an agency that wants your business and wants to give you the best possible service!
We meet all of the criteria above and would love to work with you and your family. Give us a call today for a no-obligation quote and insurance review!
Tips for getting the best rate on your life insurance policy
So you’ve decided that you need life insurance to protect your family; maybe the group life through your job wasn’t enough or you just decided that you wanted to be safe to have your own family protection plan vs. relying on someone else.
Most life insurance policies require some type of exam by a paramedical professional. This is a free physical and blood work that is paid for by the life insurance carrier at no cost the client. They collect a small blood sample, urine sample and sometimes a short EKG. They will check cholesterol levels, blood pressure, liver enzymes, among other things.
Here are a couple of tips to get the best rate for your policy. Depending on the policy you could be locking in this rate for 10 years, 20 years, 30 years or longer!
Don’t eat overnight or at least four hours before the exam. Your previous meal should be healthy and well-balanced. Even if you’re a steak lover, consider a light meal and one high in fruits and veggies and low on saturated fats and fried foods. You may also be told not to drink anything up to four hours before the exam, but do drink plenty of water. It makes it easier for the examiner to find a good vein to get a sample.
2. Don’t Drink Alcohol
Avoid alcohol for at least 12 and preferably 48 hours before the exam, because it can elevate blood pressure and adversely affect elements of the blood work. If you are in otherwise good health and have your exam scheduled the day after a “fun night out” you even run the risk of being turned down for coverage, if the liver enzyme levels are elevated.
3. Reduce Caffeine Intake
Limit caffeine consumption 48 hours before the exam, and definitely no caffeine the day of the exam. It increases blood pressure, pulse rate and can provoke an irregular heart rate. This means staying away from coffee, tea and some soft drinks, cold remedies and pain medications.
4. Limit Fat and Salt
Salt can raise blood pressure by allowing the body to retain fluids, so limit its use in the three to four days before an exam. Fried foods or ones high in fat can raise your cholesterol.
5. Don’t Exercise
At least don’t go to the gym the morning of the exam, and preferably 24 hours before. Cardiovascular workouts can cause inaccurate levels of cholesterol levels, which can be another factor that can push you into a higher rating classification.
6. Stay Calm
You’ve probably had this happen at the doctor’s office or at a hospital: You’re nervous about having your blood pressure taken, so your blood pressure reads high the first time you take it. Wait a few minutes and take it again, and it goes down.
Get a good night’s sleep, arrive early for the exam and take a few minutes to relax before your blood pressure is recorded. If that doesn’t work, ask for it to be rechecked at the end of the exam.
Remember, life insurance underwriting also includes your medical history in addition to the lab work. Insurers are expecting average people to apply for coverage, not super-healthy people. Still, following these steps could help lower your rates a bit if any of your levels are borderline high or lows.
Also when you schedule your exam, try for a weekday and not a Monday. A weekend of indulging in fatty foods and alcohol can boost cholesterol or liver enzyme levels on a Monday. Also if your work is stressful on Mondays that is another good reason to choose another day.
To decide the amount of coverage and type of policy best for you, call 816-795-5977 or email email@example.com to set an appointment.
February Home Maintenance and Tasks
Each month in 2015, we’ll be sharing a short list of tasks that you can do to help take care of your home, vehicle, and family. Consider them a helpful reminder of what needs to get accomplished throughout the month to keep your important items protected.
Here’s what’s on the list for February:
Purchase A Fire Extinguisher – If you don’t have a fire extinguisher in your kitchen, now is the time to get at least one. Plan a family meeting and teach everyone in the household when and how to use it. It’s an easy way to prevent a small kitchen fire from getting out of hand.
Schedule High-Value Jewelry On Your Insurance Policy – Did your Valentine surprise you with a new piece of jewelry? Make sure it’s covered! While your Homeowners or Renters policy will cover jewelry, there are some limitations. Get an appraisal and bring it in so we can discuss the best course of action. (This also applies to artwork, guns, and other collectibles or antiques.)
Seal Up Drafty Windows – Feel cool air blowing in around windows or doors? Seal them up now! You’ll be glad you did when those summer air conditioning bills arrive.
Newlywed Insurance Review – Did you get married this month? Call us to schedule a newlywed insurance review! We’ll look at your individual policies and discuss how best to combine them for your new household.
Show The Love! – There is no better way to show your family how much you love them, then with the proper amount of life insurance! We can give you a quote on an affordable term policy and help you get this important coverage in place quickly.
We LOVE our clients! Let us know if we can assist you in any way with your auto, home, business, or life insurance.
Lost or expired auto insurance ID card?
We get this call multiple times every day. While we are always happy to mail/email/fax your card to you; we do have a great technology option as well. It’s the iFarmers app (for both iPhone and Android). There are many cool features, but the one most used is the auto insurance ID card. Every renewal (typically 6 months) it always updates to current dates and when you get a new vehicle it’s automatically added as well. Try it out and let us know your thoughts!
Search for iFarmers on Google Play/App Store
For Android users click here
For iPhone users click here
Client Ryan H–“It took all of 3 minutes to set up. All I needed was my policy number (which I got from an old ID card), my driver’s license number, date of birth and email address. The process was quite simple and I’m glad you mentioned it to me!”
Insurance Discounts from your Preferred Local Insurance Agency
Did you know that your 4 year college degree or occupation will discount your auto and home policies with our agency? Our average client saves $150-$200/yr just by this one discount alone!
This month we’ve helped out clients in the following professions:
Medical: Physicians, RNs, Dentists
Scientists: Computer Scientists to Meteorologists
Public Service Providers: Firefighters, Paramedics, and Law Enforcement
Educators: Elementary, Middle, High School Teachers and College Professors
Active Military Personnel
Engineers, Architects, CPAs, Judges, Attorneys, Pilots also qualify; even if you have retired from one of the listed occupations you are also eligible!
Call or email us for your detailed personal proposal
816-795-5977 or firstname.lastname@example.org