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We talk about saving money on auto insurance, homeowners insurance, and - yes - we talk about life insurance!
Unknown Speaker 0:00
This is a kunv Studios original program. The following is a paid program sponsored by your insurance connection. The content of this program does not reflect the views or opinions of 91.5 jazz and more the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education.
Unknown Speaker 0:25
Good morning. This is your insurance connection. I'm your host. Donald Marquez, on your insurance connection, we talk about saving money on auto insurance, homeowner's insurance, yes, and we talk about life insurance. Welcome to the show you.
Unknown Speaker 0:46
Good morning. My name is Donald Marquez. This is your insurance connection. Broadcasting right here at K, U, N, V, 91.5,
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jazz and more every Sunday morning, from 8am
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to 830 Welcome. Welcome, welcome. It's good to be in the studio couple last week, couple weeks ago, I had a terrible virus. I had the flu and and the covid, but I'm back in action now, and my head is all cleared up. It's good to breathe again, but if you have symptoms, please go in, get yourself checked out, because it wasn't fun. My body felt weak and just, you know, not motivated to do a whole lot, but I'm here in the studio and giving you valuable information about your insurance. I'm a licensed insurance broker in the state of Nevada and California, offering you insurance, life insurance, home and auto insurance. Here's some tips that I want to share with you.
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Questions that I get asked,
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Will I need a medical exam to apply for a life insurance policy? That's a yes or no question, because some insurance companies do require a medical exam. However, if you buy a whole life policy, up to $35,000 in coverage. There is no medical exam now answering the health questions sometimes you people have to understand, if you have a reckless driving history, it could hinder you from getting a life insurance policy or underlying health conditions, diabetes, lupus, cancer, you know these could be these could hinder you from getting a life insurance policy. However, as an insurance broker,
Unknown Speaker 2:32
I can find a policy for you that will fit in your budget. Other questions that I get, can I purchase life insurance for someone else. Yes, you can, as long as there's a financial connection. It's called insurability interest, as long as you can provide me with insurable interest. Like, for an instance, you can't, you know your next door neighbor is getting older, and you can't say to yourself, well, you know my next door neighbors, he's well in his 80s, I need to get into my life insurance policy. Well is there may not be an insurable interest with you purchasing life insurance on your on your aged neighbor that has matured. And you want to, you want to take advantage of his, of his age, and personal life insurance policy, you know, to to cash out. It doesn't work that way. You know, I'm in a fiduciary position of trust, and I trust that the information you provide to me is in the best interest for your for yourself and also your family, whether they're related to you or not, you can purchase a life insurance policy. Two things you need to know approve insurability, if you suffer financially, losing a you know, a friend or a loved one, that there's a connection, because you may be on credit card bills together. You may you have, may have medical expenses you may have to pay, especially when it comes to a husband and wife, if you have credit cards, please get those credit cards and your name. Only use your family members as authorized users. Only on a credit card, because it could be some expenses if when you pass and there's still credit card debt. My name is Donald Marquez. This is your insurance connection. For more information, my contact number 702-236-2624
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702-236-2624,
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another question I get quite often is, how much life insurance do I need,
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depending on your assets? How many? What do you want to cover? Do you want to cover the mortgage? Do you want to cover your credit card debt, any financial obligations, car, car expenses, even living expenses, and this is the key right here,
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you must qualify for the life insurance policy. I represent 60 life insurance companies.
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Companies, I can find a policy that will fit in your budget and also fit in your needs. Now, the life insurance policy is based on you, not so much me. The life insurance policy is you get qualified based on your health, based on your age, whether you're a smoker or non smoker, and I'm not trying to deter you from getting life insurance. We all need life insurance. For instance, I just recently, you know, for the last couple of weeks, I've had calls where I've written life insurance policies for clients over the many years of being in business, 28 years, and I received notice from the life insurance company that there's been a claim filed. What I do? I pick up the phone, I contact the beneficiary, my client that I wrote the policy, and I contact, contact the beneficiary, because fortunately, the companies I represent
Unknown Speaker 5:55
contacts me and let me know what the phone number is of the beneficiary. And this is an important step. When there is a claim filed, there's a loss of loss of life, claim file to receive the life insurance benefits, contacting the beneficiary, letting the beneficiary know what their options are. That's very important. What I do? I let the beneficiary know. In some policies, you can get up to 80%
Unknown Speaker 6:24
of the face amount of the policy without the death certificate. Now this could happen whether they're living or not, depends, and now, if they have less than 12 months to live, if they have less than 12 months to live, you can accelerate the death benefit, whether it's term Universal Life or even whole life. Now, if they have passed, and I'm informed immediately, then we can go to work to find out. How can we give funds to you as quickly as possible without the death certificate? For more information, my contact phone number is 702-236-2624,
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1-702-236-2624,
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located right on the corner of Sahara Rancho in the US Bank Center, located on the eighth floor. My business hours are Monday through Friday, from 10am to 5pm and some Saturdays, I will work by appointment. I work by appointment throughout the week because I want to make sure I give the give you the time that you need, so we can go over all your insurances. Keep in mind, listeners, I do not charge for insurance reviews. There's no obligation for an insurance review. And you bring in all your policies, your home, your auto, your life, and I'll review your policies with you. There's no obligation. You do have to bring in your policies. I cannot pull them up online. I know with computers, we have so much access today. Fortunately, the insurance companies make it very difficult for me to pull up your personal information. When it comes to your auto insurance, your homeowners insurance and your life insurance, I can't find any information on life insurance, a little bit information on home and auto, but no information on life insurance. Now, some of you have experienced your life insurance policies going up, because when you have what we call a flexible premium, and as you age, your policy goes up, we're talking about the universal life insurance product, it does go up, but we can make adjustments by doing an insurance review, sitting down and having a resurrect review,
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going over your options with your current life insurance company. Now, as you age, the life insurance companies will pull money from your cash value asset to make up the difference in the target premium you should be paying each month. For an example, if you're paying right at $100 a month, all right, but you're getting up in age and in your 70s, you should be paying
Unknown Speaker 8:57
225, a month, but you're only paying $100 a month. What so the difference? They're going to take the difference from your cash value the life insurance companies will pull from your cash value asset to make up the difference, which you should be paying. Now, once the cash asset has completely depleted, then you're going to receive a letter on your annual statement, saying that you need to pay this amount of money. Now, most people, they're like, oh, I don't know what to do. I can't afford this. And the worst thing you could do is cancel the policy. You do have options. This is why they have insurance agents that the life insurance companies have insurance agents to walk you through the process, and I've allowed, and I have a lot of experience, you know? I don't, I don't tell people to cancel their policies. Let's work within your policy. Let's see what we could do within your policy. That's not be quick to cancel unless it's necessary. Now, if you've borrowed money or.
Unknown Speaker 10:00
Against your life insurance policy, and you now are getting up in age, in your mid 70s or even your 80s. You borrowed money against the policy. You've never paid it back. Now your class, your cash value, is less with with money borrowed, because the money borrowed is creating an interest about seven eight. So even 9% interest annually on the money borrowed. You have to understand how this works. So yes, your payment is going to go up annually because you borrowed money, you didn't pay it back, and your cash asset is depleting, and the money has to be made up. So what this is, this is what I do,
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you're paying $100 a month. You barter three or $4,000 from your policy and your cash value and your policy. Let's say it's like $12,000
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but you see it eroding. You know every month that cash value is eroding, or on your annual statement, you have less and less on your cash value. What we could do is a new illustration. A new illustration. I contact your with your permission. We're all in a room together, in my office together, and we'll, with your permission, put it on put every the conversation on speakerphone, and then we look at our options to rewrite the policy illustration. To rewrite the policy to us, let's extend the illustration. Let's have a fixed premium throughout the life of the policy now, throughout the maturity life of the policy could be to age 95 could be it could be to age 100 or it could be to age 121
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we don't know, because when the policy was written, initially, you you selected, okay, I want my policy to extend the age 95 or 100 or if your insurance agent did not go over this pertinent information with you, now it is time to get an insurance review. No obligation. My name is Donald Marquez. I can help you through this process. 702-236-2624,
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147022362624.
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Located right on the corner, right in the heart of our beautiful city, Las Vegas, Nevada, Sahara Rancho, in the US Bank building. I service policies. I'm able to offer policies and the state of Nevada and also the state of California, service and policies mean that we have an insurance review with your current policies that you have, and I don't charge you a fee to come in
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by appointment, and we sit down and we go over all your insurance. This process takes about an hour, so we need an hour of your time to go over, and most people walk away feel relieved or a lot more educated. Now, if you have a policy and everything's together and everything, you don't need any changes on your policy, I'll push it back to you and say, You've done well.
Unknown Speaker 12:55
But seven, seven out of 10 policies, I find that, you know, we need to make some changes. We need to make changes, because some of these policies, life insurance policies, you're heading toward a cliff, and eventually you're gonna fall off the cliff. You know, in the many years I've been in this business, and I've heard this conversation over and over, of course, you want to, you want to have something to protect your family. And when people say, if something happens to me, I don't know where they came from. If something happens to me, I want to make sure my kids are taking care of my family's whole Okay. Well, don't say if something happens to you anymore, because that's like you don't live forever. That is saying you're going to live forever. And no one lives forever. It's going to happen to me, it's going to happen to you. It's going to happen all of us. We have a day a time. Our time is going to be will expire on this earth, and we'll move on, as the Bible says,
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you know, and it is what it is. Now, our problems are over with, but now we leave behind the dust, the settling, the state, the settlement of, you know, who's gonna pay for this very expensive funeral? You have to settle the debt. You we have to settle debt. You know, it's okay. It's always good to have a nice car. It's always good. You know, to have a nice place to live. Your home is your business. It's a place of business. Of course, you have to pay your bills every month. But you know, your family members quickly realize if you had your finances in order, it's not that difficult to put your finances in order. You know the thing about if you don't have life insurance, we do not run credit checks for life insurance. Thank God we don't.
Unknown Speaker 14:41
Well, I've had that. I've had that question ask, do you earn credit for life insurance? No, we don't. Fortunately, we don't, but we do look at your driving history to make sure there's no reckless drivers, no DUIs out there.
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You know, abundant of speeding tickets, because that is concerning.
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With the life insurance companies now, if you have a felony,
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or you know that, you know I do have companies that will offer you life insurance even if there's a felon in your house, or if you have a felony, and I go over these bullets, because these are concerns that people have. These are one of the reasons why people procrastinate? Well, you know, I have a record, and they're not going to offer me any life insurance. That's not true. There are policies available. Benefits are paid within 24 hours. Whole Life Insurance benefits with a felony, up to $35,000 in coverage, no health examination, just a few health questions I ask, and it's easy, one page application. Most people qualify with health issues, lupus, cancer, diabetes. I didn't realize how many people have diabetes. It's a lot of you out there with diabetes, type one, type two, diabetic. Don't give up. My name is Donald Marquez. I can help with a life insurance policy, 702-236-2624
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702-236-2624
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with a whole life insurance policy rates and benefits are locked in for life. Now, there is a difference between a whole life policy up to $35,000 in coverage versus what we call a universal life. Now, Universal Life is also whole life, because it protects you your entire life. However, the flexible universal products sometimes have a, you know, has a product inside of it, where it changes. You know, the policy rate changes over time. Now, with that flexible rate, as I was talking about earlier, if you're paying $100 a month, you can continue to pay a certain dollar amount each month. We just have to make sure that your policy will outlive you, and the only way we can find out is with an insurance review. We go over the illustration, we adjust the illustration on your life insurance policy to extend it or to to make it work in your behalf. Again, 702-236-2624,
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702-236-2624,
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with a universal life insurance policy rates benefits start at $100,000
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with the face amount of the policy, and up $100,000 in the millions, if you need that much, but, but if you have life insurance on your job, and I've had this conversation many times, people say, Well, you know, I have life insurance on my job, I don't need any life insurance. Everyone needs life insurance because most jobs only pay three times your salary if you only making 100 if you only making $50,000 a year, that's only $150,000
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in coverage. Now what if you have a family of three children, a wife, a mortgage, and you only make 150 you only making 50,000
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and yes, and your life insurance policy is 150,000
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How long would a young family will $150,000
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last year in today's economics, not long. You know most people when they receive $150,000
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life insurance benefit,
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you know that money might last two years, if that.
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And I've talked to many people over the many years of 28 years in this business, isn't, isn't any insurance industry. I've talked to people that has received a half a million dollars, 100 $500,000
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and the money was gone within a year.
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They couldn't I couldn't believe I heard I had this conversation. I said, What is it? Yeah, we, we blew the money, took vacations, bought cars, jewelry, homes, furniture, desk. You know, life changing, at least they bought a home.
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But this happens. This happens now if you have a large life insurance policy, I do recommend that you put that large life insurance policy and a trust. Now your lawyer can go over with you the benefits of having a life insurance policy and a trust so you can extend the generational wealth. Now we're having a million dollar life insurance policy. I'm not an attorney. I'm not in real estate. I only offer insurance in the state of Nevada and California. By saying this to you, if you don't have a trust, but you do have a large life insurance policy, you may want to consider putting that life insurance policy in your trust so the disbursements of the of the death benefit are paid over time. Time is our most valuable asset. We get up every day with a restart. So don't procrastinate. If you need life insurance, and we all need it now is time to act. And don't say, Well, you know, I'll do it the first of the year. You know, call Donald the first of the year. You got the holidays coming up. I've heard that before. You know what happens at first of the year?
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The Super Bowl.
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Well, New Year's Eve, then the Super Bowl. It's like, back to back. Super Bowl should be a holiday in the United States, because it's just a big event. However, you know, people like, okay, the Super Bowl and Valentine's Day, and then just, you know, and then, as in, the taxes. So all of a sudden, I'm gonna contact down on the first of the year becomes now, you know, mid summer,
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because time goes by so quickly. What's the difference between now and the first of the year?
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Let's be proactive. You get up every morning, that means you get an opportunity to restart your life. Do something different. Let's get this taken care of, you know, because your family members gonna need this coverage. They really are. You know, I've had, I've had many conversations with many beneficiaries over my many years, and they thank me. Thank you for getting the life insurance policy of my dad. He was very stubborn. He didn't want to get a life insurance policy. He whined and kicked the whole time. What you getting life insurance on me for, you know? But, but Dad, someone needs to pay for your final expenses. I don't want to be left in debt trying to take care of your final expenses. Well, I don't want to talk about it. This is the pushback. Why not? When people tell you, your family members tell you they don't want to talk about it. That means they don't have their business in order,
Unknown Speaker 21:26
you need to know if you're the beneficiary. You need to know what a life insurance policy is. You need to notice valuable information. You know, there's many times when people have to go in their homes or their loved ones, deceased loved ones, and tear the house up, looking for information, looking for a life insurance policy. I don't know. Did dad have a car payment? You know, did that dad? Dad has a mortgage. We don't know. The mortgage company, it's good to have a list of items on a sheet. Okay, this is my mortgage. This is my loan number. This is the mortgage company phone number.
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This is my life insurance. This the these are my beneficiaries. This is where it's located.
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I mean, just go down the line. I have a car. It's financed through this credit union. My monthly payments are this is my loan number. These are my bank accounts. These are my writing number, my checking account. These are the banks I do business with. Your family needs to know this information, and there's nothing wrong with sharing this information or just have a list of items on your on your sheet of concern, so your family members know where it is. They know what to do, because a lot of times you know, we're at a loss. Family. Don't have time to grieve,
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because in the simple things we need to do, we just don't do it. I want to leave my house to my children.
Unknown Speaker 22:51
Your children's name is not on the deed. You don't have a will. You don't have a trust. So how is this supposed to happen? Because you will it to happen? You want it to happen, and this is why the city gets so many properties, because people procrastinate. They don't take advantage of time that's given. God gives you time every single day to get up and do what you need to do. You're getting a start every single day. So if you it's your intent to leave your family members the home or homes, put them on a deed, get a trust or will. Put them on the deed. The deed is like putting them in a beneficiary position. Then they can't take out a mortgage on your house. They cannot sell your home. It's just transfer the property from one to the other, whether it's a mortgage or not, the mortgage company doesn't care, as long as they get the money each month. Now, with your name on a date as a beneficiary, you know, once you lose your loved one, you take that your loved one name off the deed, and then the deed is in your name. Now husband and wife. I've seen where husband and wives, the husband bought the house, or the wife has bought the house, and the spouse is not on the home. But you know your intentions are to leave your spouse the house. Their name is not on the mortgage. The name is not on the deed. That home is going to go into probate. We can avoid all this messy business by taking care of business,
Unknown Speaker 24:20
not not the first of the year we could do it right now. I'm not a lawyer, I'm not I'm not a realtor, I'm not a mortgage lender. I am a professional insurance agent with valuable information because of my history with many customers over 28 years of service in the state of Nevada and California, I've heard a lot of stories. I've heard stories people purchase accidental only life insurance.
Unknown Speaker 24:48
You know, family member pass, they take the accident only life insurance policy into the funeral home, and they quickly find out that it doesn't pay.
Unknown Speaker 25:00
Anything. It doesn't pay for anything. Don't let this happen to you. No insurance oblique, no fee for an insurance review. We sit down together, go over your policies. Let's get your house in order. I've had people contact me this month.
Unknown Speaker 25:16
People have passed beneficiary call. I call the beneficiaries. Hey, this is what we need to do. And one lady, she said, Oh, you know, I just spent $2,500
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to to buy a ticket to transfer my my husband's remains to a different state. I said, $2,500
Unknown Speaker 25:38
she said, the funeral home charge means we'll make an arrangement, because some people don't want to be buried in the back. Buried in Nevada. They want to be transported. It was $2,500
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to make that arrangement, to have the remains transported from one location to the next, so the loved one could be buried in the state of choice. And it's $2,500 and they had to pay that money immediately. So what I told her with the life insurance policy, let's take an advance out on the policy now, without the death certificate, to get these bills paid. She said, You can do that. I said, Absolutely, I can do that. The only thing I need to do is pick up the phone, give my authorization to the life insurance company. If I wrote the policy, let's keep this in mind, if I wrote the policy, I give my authorization to to advance the money to the beneficiary within two business days, within two business days. Now, every scenario is a little different. Or here's another one, if you have a terminal illness, right? You stage three cancer, stage four cancer, you can have taken, you can take now in advance on your life insurance while you still living now, if you stage three cancer, I've done this where a lady had a $300,000 life insurance policy, right? She was stage three cancer, and she could not work because she was disabled. She couldn't work, so she was thinking about, well, I need to count she wanted, she was in the Crossroads, right? She wanted to count her life insurance because, you know, she had to pay that monthly premium. But she needed the life insurance because she didn't know if stage three would turn into stage four. But she was just perplexed. She contacted me, not the policy that I wrote. She contacted me because she heard this radio program on kumv 91.5 jazz and more. And she said, What should I do? I have $300,000 life insurance policy. We had an advance up to 80% on the policy. We put $240,000
Unknown Speaker 27:39
in her pocket to pay for her medical bills and her expenses, and you know, and thank God, she outlived her her her 12 months, because the doctor gave her 12 months. But she's still living today, and I'm so happy she's still around she but she got that advance on the policy. She wasn't working. These are things you can do. So to cancel your policy. Let me cancel this policy, because you know,
Unknown Speaker 28:05
for whatever reason you want to cancel the policy, don't do that. Let's go over your policy. Let's see what your options are. It doesn't cost you that much money life insurance. You're just buying money. That's all it is. It's your savings account. If you're terrible with saving money, why not purchase a life insurance policy? You have an instant savings account. You get a life insurance policy for $100,000
Unknown Speaker 28:27
and you only pay in a small amount each month. You just put $100,000 in your savings account. No other product does that but life insurance. My name is Donald Marquez. This is your insurance connection. My contact number 70223626245, 22362624,
Unknown Speaker 28:43
702-236-2624
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again, located on the corner Sahara Rancho in the US bank center, a work by appointment that's right across the street from the Palestinian Hotel. 702-236-2624
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my business hours are Monday through Friday, from eight, from 10 to 5pm and some Saturdays, I will work all by appointment, only, 702-236-2624,
Unknown Speaker 29:13
yo. You guys have a great day today. We'll see you again next week. Until then, just keep it crispy.
Unknown Speaker 29:22
You.
Transcribed by https://otter.ai