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We talk about saving money on auto insurance, homeowners insurance, and - yes - we talk about life insurance!
Announcer 0:00
This is a KUNV Studios original program.
Wesley Knight 0:04
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.
Donald Marquez 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, homeowners insurance, yes, and we talk about life insurance. Welcome to the show. Good morning. Welcome to another edition of Your Insurance Connection, right here at KUNV 91.5 Jazz and More. I'm a licensed insurance agent. My name is Donald Marquez. Welcome to the show. And if it's your very first time broadcast listening to my broadcast, lock me up, turn me up, turn me up, because I have a lot of valuable information to discuss with you about your insurance needs. I'm a licensed insurance broker right here in my hometown, Southern Nevada, and I've been servicing insurance clients for the last 30 years right here in my hometown. I'm also licensed for life insurance in Nevada, California, Louisiana, Texas, Michigan, and I'm working on Mississippi. I don't know what's going on with them. I know that's a little slow down there, but I guess I'll get licensed down there sooner or later. However, but if you're listening to this program and you're interested in my services, again, I'm a licensed insurance broker. I do the shopping for you. I shop for you when you go online, and I've said this many, many times on this show. When you go online to search for your own insurance policies, I know this AI thing is is trying to break in our industry, and it is to a certain point. It's been there for a while, but I think they're really the insurance companies are really trying to make that major move for everyone to purchase their insurance online. I don't always think that's a good idea. First of all, you expose yourself to a lot of unknowns, and I should say that because when they get your information, when you put go online, and you put and put all your data in there: your name, your phone number, your date of birth, what cars you drive, what zip code you live in. That's a lot of that's a lot of pertinent information, and it could fall into the wrong hands now. Well, most of these insurance companies, I should say, and honestly, they try to be as secure as possible. But when you receive phone calls for the next three to four months, and you wonder why? Because you expose yourself. You put your name, your phone number, online, and they sell your information to other insurance agents throughout the country that can write in Southern Nevada. If you're listening to this program in Nevada and you're looking to shop for car insurance, now when I receive a phone call from listening to this program, and I want to appreciate the the listeners that have contacted me and purchased home, auto, and life insurance. I don't share your information. We only go with the companies I select. Let's, for an example, if I select Progressive Auto Insurance to write your auto insurance, Progressive is the only one to have your information. If I select Travelers Auto Insurance and Homeowners Insurance, that's the only company that will have your valuable information. I don't share it, but when you go online, and I know they got these new search engines. I've seen on you know for life insurance, Ethos is one of them. I inquired about Ethos. I kind of looked at that search engine. However, you know that's an option. You know, and I and I say this and I say it again and again. When you're buying life insurance, that's something you know you don't want to. You know, it's not a self thing. You you really need to know what you're buying. It's a contract. It's not like buying auto insurance. It's it's a it's a contract to insure you, and you need to have a professional to go over with you line by line, what's going on, and and why do you need this particular policy versus maybe a term? Maybe you up in age, you know, in your 70s. Term is not a good option in 70s in your 70s because you're only going to receive a limited amount of time. Time is an essence. So every day you wake up in the morning, you know, you restart. You get another chance to restart your life, to do the things you've been kicking your can for a while now to do.
But you say to yourself, "I'll do it tomorrow. I'll do it next week. How many times we've told ourselves that? I'll go to the gym one day, you know, or you sign up for the gym and you go for a couple of a couple of weeks and you don't go anymore, you know. Motivation-you have to be motivated. You have to be highly motivated to get things done. Listening to this program, I can assure you, between the ages of one years young, all the way up to 85 years young, on a life insurance policy. I represent multiple companies, 60 life insurance companies. I, you know, I'm. Ask I'm gonna ask you what your medicals that you're currently taking, your prescribed medications that you're currently taking. You know, is I have companies that'll write you up to $450,000 of life insurance. There's no physical, but my most popular policy that I write, 40 years up to 85 years young, is the $50,000 whole life policy with no physical, absolutely no physical? Up to $50,000 whole life builds cash value, builds a bank within that policy. When you pay your policy premiums, you you build up a cash value, money that you can use later on. You know, I've talked to people and they purchase policies online, and this is what happens when you purchase a policy online. And unfortunately, because this is not a self-service, you know, you know, something you shouldn't be doing on your own when it comes to life insurance, because you never know how the contract is going to read. Yeah, it's going to read pretty good up front when you buy by mail or online, but in the long run, will it be there for you in the long run? So this is what happened to a client. You know, her husband purchased a policy. You know, unfortunately, by way of online. And and no, this is by mail. Excuse me, this is one by me. I have a couple of them, but I'm just going to give this example. So he purchased a policy by way of mail looked really good. He purchased it over 20 plus years ago. Now he's well in his 80s, you know, well over 85 years young, between 80 and 90 years old. Now his premium is going up because the policy has expired. It's a term life insurance policy. Well, it was a whole life. Excuse me, a whole life policy. I just I just have so many scenarios. Got to keep on point here. Yeah, it was a whole life policy. Now the policy did build class value over time. What happened as he aged? The cash value was depleted from the the life insurance policy because it had to make up the difference on the premiums that he should have made. So we have a you know in the insurance business, we have what we call a target premium. Or when you buy a policy, you know, by way of mail, like he did, so he had what we call an adjustable premium. In other words, he's not paying what he should be paying for the life insurance policy when he initially purchased the policy. They discounted the premium each month, so he would make it make it look attractive, so he could purchase the policy. Well, he did. He built up cash value over time, but as you age, that you know you're not making them. Let's for example. So, so let's say you should be paying around $200 a month, right? But you're only paying half of that. So the balance of that, you know, the insurance companies will take it from your cash value. Yeah. So your cash value builds up to a point as you age. So okay, you know, mr. Jones is this age now. He's not making a $200 payment like he should be, but he's only making less than you know a little over $100 a month. He the rate has gone up slightly, but not enough to to take care of the policy to make it keep it in force over the long run. So now, what they do, they take the money from the cash value to make up the payment. So they take a little bit every month to make up that difference where you should have been paying around 200 a month. Now he's only paying like 125 a month.
So they're taking that that $75 balance from your cash value and bit by bit over time. Now what happens? It gets to a point, especially if you keep living over age 85. Your cash value is depleted, but now your insurance rates are really going up. They're really sky high, and they're going to get more expensive every single year now, from I find out 30 years in this business, I don't want to I don't want to offer those policies to my clients because it's not fair to them. Everybody lives on the budget, yeah. And if you want to fund a life insurance policy, it's it is an investment for your family's future. But you don't want to find out in your late 80s, all of a sudden now you go from paying, you know, around $200 a month. That's what you should have been paying, and now the policy is accelerated to four or five or even $700 a month because now you're at that age where you have to keep the policy in force because you're at that age. You don't want to lose out. There's no more cash value left. Those are called adjustable, flexible premium policies. Not only on whole life, but they also happen on universal life policies too, as well. At 702-236-2624 702-236-2624. If you have, if you are experiencing something like this, and it's not unusual, this is why I offer no obligation policy reviews. You don't pay anything to come see me. You know, no charge. You have to bring your life insurance policy in. We'll sit down. I'll go over review the policy with you, and if we have to, we'll call the insurance company just to see where you are. Every year you receive a letter, usually the first of the year to. Tell you exactly where you are with your life insurance policy to see if, in fact, you owe money because you borrowed money or how the policy is performing over time. If you have a term policy, a strictly term, up to 30-year term. Now it may say up to 95 years young, but don't don't believe that it's going to expire. Yeah, it may insure you up to 95, but let's say if you take out a 10 or a 20-year policy, and this the policy expires, the rate is going to change when it expires. You can take term and convert it over to a universal life. The rates will be based only on your age, you know, and then you have to adjust the policy if necessary to keep the payment within your funding range. In other words, if you have $500,000 term policy, 20 year term, your term is up. Now your rate is going going up, up, up. Maybe it's time to get a new policy. However, within that 20 year term policy, if it is convertible within the policy, in other words, if you have the clause in your life insurance policy where you can convert it, then you want to convert it. You know when the when the time is right. Maybe you want to pay off one of your vehicles or some credit cards. Now you can adjust your policy premium by converting it over to permanent insurance. For more information, my name is Donald Marquez. This is your insurance connection broadcasting right here at KUNV 91.5 Jazz and Moore 702-236-2624 702-236-2624. My location, Sahara Rancho in the U.S. Bank Building. I'm located on the eighth floor. My business hours are Monday through Friday from 10 a.m. to 5 p.m. 702-236-2624. Now, if you can't call me, you can text me, or my email address. Which you know sometimes you know I don't look at my emails like I should. I'm guilty, but it's Donald dot Marquez M A R Q U E z@outlook.com. Again, I prefer you call at 702-236-2624. However, I do have email Donald M A R Q U E z@outlook.com if you want to find out about me, you can go right ahead. I've been right here at KUNV 91.5 Jazz and Moore for four years, and I love coming here to broadcast every Sunday morning from eight a.m. to 830. You can contact the Division of Insurance. I have no complaints in 30 years. Yes, I started this insurance industry 30 years ago, it will be this November, this Thanksgiving. I received my first.
What a day that was, you know. And it seemed like yesterday. That's that's the funny part about it, you know. Getting up every day, time goes by so quick, you know. 30 years when I when I was licensed, and it just it just seems like yesterday. You know, I'm I'm gonna be honest with you. I was this. It was my third time taking a test to get my license, and I was a little nervous going in there. And I was in my car. I had been studying, studying, studying, and I was like, "This is the third time, Donald. You have to pass this time. You know, I'm. Hey, I hadn't been to school in years. I, I, I actually went to went into the insurance agency into your insurance industry, in my in my 30, I was 39, and okay, so 39. I haven't been to school in a long time. Haven't been to UNLV in a long time, so I had to study. I had to study, and you know, and a couple times I didn't I didn't get past the requirement for the state, and the third time I was determined to pass, I had to relax my mind. You know, it's funny because when I was in the car right before I had to go in and take the test, I listened to James Brown. I feel good. It relaxed me, and I went in, and it was the day right before Thanksgiving back in 1996, and I passed the test, and I was so excited. Wow! It was just that hurdle that I need to get over. It was the next day was Thanksgiving. My wife and I celebrated. We was so happy. You know, it was a great time, and it's still a great time. I enjoy what I do. I really love being an insurance agent. It was meant for me to be an insurance agent, and also come on the line right here at KUNV, 91.5 Jazz and More, and educate you about insurance. I'm a licensed broker, and I try to give you valuable information each week to so you could better understand insurance. Insurance is very complicated. It's not as simple as you know, everybody wants a lower rate. Everybody wants to, hey, I need to get my rate down. And I understand. I've never seen car insurance rates so high. I really haven't. And I try to do my best to. You know, I have progressive auto insurance. I have travelers. I have Dairyland. You know, Safe Co. Just to name a few. And and I do my. Else to find a rate for you, but if you if you involve in an accident, you know sometimes you know let's say you have two accidents in five years, whether it's were your fault or not, sometimes it's hard to shop for that rate. I will give it a shot, but if you had an at fault accident, right within the last five years, and you you know, a little upset with your insurance company because you've been loyal to your insurance company for many, many years, and now you see the rate adjust. It just depends. Every scenario is different. Whatever your neighbor is going through, it's not going to be the same scenario for you. Although you may live side by side in the same zip code, but you drive different cars. Everything is different about you when it comes to insurance. So don't say, "Well, you know, my neighbor's paying. I've heard this before. My neighbor is paying this much, and why am I paying that much? We live in the same zip code. Well, you you know you drive different cars. You know your car makes a big difference when it comes to car insurance. We by the vehicle identification number, it's going to tell us all the safety features on the car, it is. It's going to give us all the safety features. Now, if you are a Lyft or Uber driver, you know you need to have the endorsement on your auto insurance policy. Share ride. You know you have to have that endorsement. That's very important. You know people are getting sued today. Now, when people get in your own personal vehicle, you know you you accept it in a lot of liability. You really are, you know.
And of course, the Lyft and and and share ride companies will, you know, protect that passenger. But if you're in an accident and you know it's some serious injuries, and that happens, it happens all the time. Every every share ride driver I've I've had a conversation with has had accidents because they're out on the streets a lot. They've had accidents and they've they've been through maybe in five years at least a couple of vehicles in five years. So when you get in these vehicles, you know I mean it's it's convenient transportation and I use them too as well. But you know I'm concerned. You know if something happens now, I want hope. Hopefully, this driver has enough insurance. And I sometimes I do ask him, how much insurance you have on yourself? Do you have the minimum state requirement, or you have better than the minimums? And some of them say, "Well, what? I don't know. I have full coverage. That's what they say, but you have every right to ask one of these share ride drivers. You know what protection do you have now? Again, the share ride company does protect the passengers, but if a person is in an FR car accident, and maybe and just maybe they may come after the driver for negligence. My name is Donald Marquez. This is your insurance connection, you know, I want everyone to be safe out there. You know, I'm not saying not to take a share ride, but you have to understand, you know, this person is is acting as a business owner, but then again, that they may may not have, but the minimum coverage is driving you around, and you have every right to ask the drivers, or or when you, you know, you know, getting that ride. Maybe you need to ask the question: Are you carrying the minimums, or do you carrying higher liabilities? And what is my protection as a as a passenger? Ask the drivers. Say, okay, if they're you in a serious car accident, who protects me? Who protects me? How much will you know these share ride companies protect you up to $1 amount. 702-236-2624. That's news you can use. And again, I'm not I'm not knocking the drivers or anything like that. But I've talked to these drivers over the years, and I you know I tell them that you're running a business. You need to treat this like it's a business. You know you're using your private passenger vehicle to drive people around, protecting them to their destinations, and you need to carry higher liabilities, higher liability on your auto insurance, on your bodily injury, your uninsured and underinsured motorists. You know, I'm running a business myself. I have to carry higher limits of liability. I do a million dollars in general liability coverage. I carry that. I have ENO insurance. I carry that. I'm a licensed insurance broker, and I've been licensed for the last 30 years for auto insurance, homeowners, boat, motorcycle insurance, and yes, absolutely life insurance. We all need life insurance. I have rates that will fit in your budget. Now, it's easy for me because I I'm like this, you know. I cut the chase. What? Well, how much money can you afford to fund your policy each month? Life insurance is an investment. How much are you willing to fund your your your investment each month? Now, if you you tell me you what your funding budget is, that makes sense to me, you know, because I can write a policy from $1,000 up into up 10 $20 million, but you know, people like, well, I need some life insurance, and they really don't know what they need, so I have to do what we call a needs analysis. What is it you're looking to do? And most people are looking for that final expense policy, especially if you're 55 to let's say 75 and up. You're looking for that final expense life insurance. You're looking for protection to cover to to cover that very expensive funeral that we all gonna have one day. Yeah, one day we won't be here, you know. And and then that's when your family members find, you know, find out about your, you know, how you handle your money over the years, are you going to leave your family stuck with a very expensive funeral to pay for, with no funds?
Life insurance is a funded, you know, every month you fund it every month, but it's also an investment to make sure your family's not inheriting your debt. That's what it does. It protects you from your family not inheriting your debt, and you will leave debt behind. It's just it's just it's just figure it out. You have a car. You making a car insurance. You can make it. You have car insurance, and you making a car payment. You know, you have utility bills. These are debts. Utility bills are are debts. Believe it or not, you know if you have to keep the power going, the water going, the gas on, while you're trying to sell the home, or if if you need to move out of the house, your surviving spouse has to move because they no longer can afford to live there. That's a debt, and now you have to pay for a funeral on top of all of that. Do you you really don't have time to grieve? And and you know as much as everything costs today, and I get that. This is why it's very important for me to ask you, where are you? Where are you as far as your funding? How much you can you fund in this life insurance policy every single month? 702624. Again, if you are a smoker, I have a rate where you're not being charged as a smoker for the first 36 months. I've never seen anything like this in in all my years of being in the insurance business. And and trust me, I have I have sold a lot of life insurance in 30 years. I've sold a lot of auto insurance policies in 30 years, and you know, and I don't take any cash across my desk. Now we do a lot of business over the phone. I'm making convenience that you don't have to burn gas coming to see me. I'm located on the corner of Sahara Rancho in the U.S. Bank Center Eighth floor, but if you don't want to come in, I I can write your life insurance by way of phone. I can write your auto insurance, your homeowners, your renters on the phone. Boat, motorcycle on the phone. Make it convenient for both of us. And I and probably I should say, I would say probably 85% of my clients are right over the phone, over the telephone. You know, about 15% wants to come in. They want to come in. Ah, you know, I do things face to face, and I still like I still like doing business face to face. I do. You know, some people just like that. They just no, I don't want to. You know, complete everything over the phone. I'd rather just meet you, and that's fine. We can meet at my office again. It's right on the corner, Sahara and Rancho, in the U.S. Bank Building, located on the eighth floor, 702-236-2624. Let me know you heard you heard it on KUMV 91.5 jazz and more. I have other advertising outlets out there again for 30 years. I find out other ways to advertise. This is another way to advertise my business and educate you at the same time. Now you're probably sitting down having your cup of coffee and if you're smoking a cigarette and you're saying to yourself, Ah, you know, I need life insurance, but I know as a smoker it's going to cost me more money. Yes, you're right up until now, because through Americo Life Insurance Company, which is one of my premium life insurance companies, very solid. We have a quit smoking advantage program, and this is how it worked. For the first 36 months, you're rated as a non-smoker. Yeah, a non-smoker. So you know, people say you know I want to stop smoking. This gives you an opportunity to get in your life insurance at a non-smokers rate. What the plan is stop smoking. Now you can smoke, smoke, smoke for 24 months, but that last 12 months you cannot smoke any tobacco products. And if you smoke hookah at the hookah lounges or you smoke hookah? You know that's considered tobacco. I've had that happen before. Had a young man who needed a $500,000 life insurance policy, and that of course it wasn't in this company with with the non-smoker rate.
It was a different company because the non-smoker rate goes up to $50,000 in coverage. All right, but he wanted 500,000. Young man had a family, growing family, and he needed coverage. He had a home, and he came back as tobacco in his system. And he said, "I don't smoke. I said, "You don't smoke anything. He said, "On occasion, I go. I go to the hookah lounge, and I'll have a drink, and I'll smoke hookah. Well, that's a lot of tobacco. Believe it or not, and that's not filtered, ill. So you're you're ingesting unfiltered tobacco. I know it's flavored and it looks pretty cool with all the smoke coming out of you, but your sun, your lungs are wreaking havoc. Your lungs are you know when you take all that ingest all that smoke inside of you, your loans are taking a pounding. So, you know you want to be conscious of that. We came back with a rate. What we did, we he bought the policy. We lowered the face amount down to you know down to a amount he can fund it each month. My name is Donald Marquez. This is your insurance connection 702-236-2624 702-236-2624. Real quick, if you know, if you if you've been approached to buy a you know funeral, a you know pay prepay for a funeral, I mean that is your option. But for me, if you if you can get a life insurance policy, I think I've I've done the numbers, and I've looked at it. Now, if you have to get a pre need, you have to because you have underlying health conditions and you have less than 12 months to live. I say go for it, go for it. But if you have that time on your side, you're healthy, and you want a final expense life insurance policy up to $50,000 in coverage. Now, what a what a pre need won't do you from a funeral home package. In other words, they they sell you your whole package up front. You pay on it month to month. Within that funeral package, they put life insurance in there, just in case you you you won't outlive you won't live long enough to pay it off, right? So you're already buying life insurance within that pre need, right? And on top of that, you may have tax. You know, when you pass, your your beneficiaries or your family members may have to pay the taxes on for everything. There's no cash value. There's no money left over on a pre need, you paying for something a funeral. I get that, but when it's all said and done, there's no extra money to pay these other expenses that I mentioned earlier. You know, the gas bill, the light bill, the power bill. Now the TV bill. I remember when TV was free, but now the television is a bill now, right? I watched Peacock last night, and I was like, "Okay, I'm paying like so much money pouring every month. But with a life insurance policies versus a pre need, there is money left over for the beneficiary to use at their discretion. You know, the choice is simple: life insurance. You're buying a life insurance policy within a pre need. You're already buying life insurance. You might as well get a policy that will pay your family dividends once once you're gone. Now, a life insurance also has a living living benefit too, as well. If you have a whole life or universal life insurance policy, you can borrow money against that policy in the case of emergency. When you borrow from life insurance policies, find a way to pay it back. You know, I mean, especially your smaller, you know, smaller policies. Now, if you only have $10,000 worth of life insurance, because the cost of bearings on one today is a lot more than $10,000. My name is Donald Marquez. This is your insurance connection: 702-236-2624 70223626240. do this again next week. Enjoy our weather. It's gonna cool down here pretty soon. This week it's gonna be in the 60s, I think. Enjoy yourself. Be safe out there. We'll do this again next week. Stay safe.
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