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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 K-Unb 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. You
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. Thank Good morning, my name is Don Marquez. This is your Insurance Connection, broadcasting right here at KU NV 91.5 jazz and more every Sunday morning from 8am to 830 Welcome to my show. Keep it like right here, because of a lot of important, valuable information to share with you about life insurance. I get calls from time to time, and just recently, more than ever, I'm receiving calls about people. They want to know the difference between whole life term and other insurance, life insurances, you know. They don't understand. Okay, what is term? Is it permanent? What is universal life, and what is whole life? So, let me break it down real simple, so it won't be complicated. Let's start with the term policy first. Term insurance is insurance that lasts a maximum of 30 years. Now, some policies, when you read your life insurance policy, it will say to age 95 Regardless, when you purchase the policy, it'll read to age 95 on the illustration after whether it's a 10 year term policy, a 20 year term policy, or a 30 year term policy, and also explain in a moment why we have 1020 and 30 year policies, but when the policy runs out, regardless of the years, it goes to age 95 Yes, but the rates increase every single year thereafter. After the policy is over, now during the period of 1020 or even 30 years, those rates and benefits are locked in for the life of the policy. Now we get 10 year policies sometime with people, depending on their age or if they have a business partner, and it's a limited term business partnership. They'll take life insurance on their business partner, or sometimes you'll just buy a 10 year term policy, not aware that you're purchasing a 10 year term policy, and it expires on 10 years. Now, in 10 years, 10 years go by very quick. 10 years go by like a blink of an eye. We all know that, especially if you're 55 and older, like 10 years is nothing. Now, when I was younger, 10 years seemed like a long time, even four years seem like a long time, but that's a short time when that's a short window in your life. Now, the reason why people only get 10 years, because of the price, it's very attractive. Now, you can convert most term insurance policies into what we call a universal life insurance policy that is permanent, that is permanent. That means, okay, you have term. You started with term eight years into the policy. Now you know the policy is going to be over with in two years on a 10 year term policy. Now you want to convert it over. Now the nice thing about a conversion, it doesn't - you don't have to have a physical, regardless of your health, you'll roll it over into a universal life or a permanent life insurance policy. Now, depending on the face amount, you can always reduce the face amount to fit in your budget. It's not a bad policy to start with. It's really not a term. I'm speaking about term, because you can convert it over. Now, some term insurance companies will not allow you to offer life insurance at a term product won't allow you to roll it over. This is why it's important for me as an agent. I read the contract. My companies that I represent will allow you to roll that over into universal life, the term policy I'm talking about into a universal life or a whole life policy, because your policy will expire. Now, I was just recently talking about a 10 year term policy. Now, let's go to a 20 year term policy. Now, we also have a 30 year term policy, depending on your age, depending on your age. Now, when you're 58 and under, you can get up to 30 years. Let me say that again. And when you're 58 and under, you can get up to 30 year term policy.
Donald Marquez 4:49
Now let's say you're 57 and you get a 30 year term policy, that'll take you to age 87 or if you're 58 that could take you to age 88 It, and your rates and benefits are locked in for the term of the policy. Now, again, term has no cash value, it has no cash value at all, it's just permanent insurance for that term for the period, and it's direct. It's that's a direct policy, it's a term policy. There's no cash value, but no money to borrow against. However, term is the lowest cost insurance you can purchase when it comes to life insurance. Term is a policy, it's going to be the lowest cost. It's going to give you more insurance, you know, than the universal life versus the whole life, because of the price, because of the price. Now, most term policies do require physical. I do have a company I could write up to $450,000 in coverage with no physical on a term life insurance policy. I will get more into it. My name is Don Marquez. This is your insurance connection. My contact phone number is 702236262470223 702-236-2624 My business hours are Monday through Friday from 10am to 5pm I'm located on the corner of Sahara and Rancho in the beautiful US Bank Center, eighth floor. I'm exactly on the corner of Sahara Rancho. I work by appointment, eighth floor, 70223 02236 2624 The name of the building is US Bank Center, has US Bank at the top. I do appreciate all the listeners that have contacted me listening to this program Sunday mornings right here at KU N V 91.5 Jazz and More. Thank you so much for your support. Any questions about auto insurance? People call me about life insurance, and homeowners, boat, rental, motorcycle insurance are also covered. I'm licensed in 48 states for auto insurance and motorcycle boat insurance, homeowners, renters insurance, with the exception of California and New York for life insurance. I'm licensed in Nevada, California, Louisiana, Texas, and Michigan. Now, if you hear in this program and you look at, you're in Ohio, I can get licensed in Ohio. Okay. 702-236-2624 Today we're talking about the difference between term, universal life, whole life. Now, the term product again. I just mentioned, if you're just tuning in, we're talking about the term insurance product and the value of a term policy. When you purchase a home, you receive phone calls and information in the mail, you know, requesting you to look into getting a mortgage protection insurance. Mortgage protection insurance is a life insurance policy, and you do have to qualify for it, you know, because you buy a home. I know you're excited, you want to protect your, the largest investment you can, you'll make, most of us will make, right? But you want to protect your investment. If something happens early, you have a premature passing, you want to make sure you have ancestors get the house, pass the house on, you know, you want to pass the house down, but you have to make preparations for that, you know. Just because you have a life insurance policy that will cover the mortgage doesn't mean that, that you know, the house could be passed down, because the house could go into probate if you don't have the necessary documentations, a will, a trust, you know, put in your loved one on the policy, or your, your spouse on the homeowner's deed, excuse me, the homeowner's deed, the homeowner's deed is very important.
Donald Marquez 8:36
Now that's like the title to your car, but it's a title to your home, and you want to make sure if you're the only one on your house, they can't borrow money, they can't, they can't take out a loan on your home, and they can't sell your home, they're they're in a position to pass the home down to for the next generation when you pass, and I don't say if something happens to me, you know, this is preparation, you know, the city and the state, they receive, they receive homes every day, people die, no will, no trust, family members are like, well, we want the house, we want the house, yeah, but it goes into probate for quite some time, years into probate, when it comes out of probate court, five to seven years later, on average, then you look at the cost with the core cost, and then the cost of the mortgage. You know, it's like, oh, I can't afford that to make sure all your, all your financial responsibilities are taken care of, whether you're here or not. That's good to have a have a will or trust, or if you don't have a will or trust, at least have someone on the deed of your home to pass it down to the next generation. Now I work with Christine Bernard. She is a paralegal. She can help with that. She can help getting a will. She can also put your loved one on the deed or your home. Again, they cannot take out a loan, they cannot sell your home, they're just in a. Beneficiary position, when you pass it, goes directly to them, hopefully without any hiccups, right? And I say that because it has to be filled out correctly. Now, a lot of people, too, they go down to the, you know, to the office, or to get their, the adjuster's office, and to put their name on the D, or you know, and it may or may not be filled out correctly. That's why I say, without any hiccups, what's your life insurance policy? What's your will? What's your trust? We're not going to be here for him, and you know, life is short, and all of a sudden you find out, you know, you know, you, you land in the bed, and it's your last few days, last few hours, and everything is going through your mind at that time, what you should have done to prepare yourself for this day. We're all gonna have that day, we're all gonna face the reality that you know we didn't take care of our business like we should have, and it's really not that difficult. It's just a matter of saying, you know, I'm gonna get this done, I need it done, because just, but we spend our money on a lot of different things that we spend our money on, but you know, let your family members know where the paperwork is, where the life insurance policy is, where the deed, where the trust is, where the will is, without them looking at looking up everything and tearing up your house, looking into all your personal belongings, tearing up your house, trying to find this important information. The first thing gonna, they gonna need when you pass is your life insurance policy to pay for your final expenses, your services? You know, now we're talking about term. Term does pay for those expenses with money left over for other expenses. Term is not a bad choice, you know. People say, what's better? Term, whole life. What is a better policy for me, as an insurance professional, I look at your situation, your finances, how much it cost you, how much insurance you need. I just quoted a young man the other day on a term life insurance policy, a 20 year term life insurance policy, he's only 39 a 20 year term life insurance policy, $500,000 worth of coverage, and it was less than what a soda costs per day. Figure that out. It was less. It is less what a cup of coffee cost at these coffee houses with the whip, and you know how you know you guys order the coffee. I can't, I just give me some coffee. I don't know, just black coffee, that's all I want, no cream, no sugar.
Donald Marquez 12:22
And then they tell you it's like almost $4 for a cup of coffee, that's that, that's not even reasonable to me. I make my own coffee at all, but his policy, $500,000 worth of coverage, 20 year term policy, he's 39 years young, five children with less than what a soda costs you per day. My name is Don Marquez. Passing down generational wealth, not generational debt. Generational, generational debt, you know what that does to families? It tears families apart. It really does. Who's gonna pay for this? Who's gonna pay for that? Where's the money? Well, I mean, I thought you was taking care of it. It creates arguments, you know. When you pass, you want to pass in peace. You really do. You want to go to the next level of life in peace. You don't want to leave with all this, you know, turmoil among your family members. You don't want to leave this earth. You don't want to leave this earth and all of a sudden, you leave a mess behind. You want to be able to pass in peace. We spend money on a lot of different things, and I know everything is expensive today. I went to the grocery store, yeah, and it's like, wow. But I stock up, I put everything in my.. I buy a lot to go in my freezer, pull it out and cook it, because going to a restaurant today.. oh no, it's like too much, too much money, a plate for me, and then you know, I take over home leftovers if I can, but you know it's just, it's better for me to go to the store every now and then. I'll go out to a restaurant, but not as much as I used to, but you know, I mean, getting back to what I'm talking about, the affordability, the affordability is just to make a determination to say, you know what, it's time to do it. I'm getting older, I'm getting younger, and if you, when you're getting older, you have been, you, you probably average two or three funerals a year. Getting older, that should tell you something. When you, when you go into two or three funerals a year, as you age, that, that'll tell you a lot of how you need to take care of your business. It's one of the first things I noticed when people go to a funeral, they look at the casket. Oh, what kind of.. oh, that's a cheap casket. They do, people just naturally look. Let me, this is a nice casket or not. I mean, that's reality. And you can, you can see there, and you know the inexpensive caskets or inexpensive service, you see, it's not to say you have to spend a lot of money on service, put your loved ones, you know, away properly, with some respect, with some dignity. By having a life insurance policy, whether it's term, whole life, universal life, does make a difference without having. On a life insurance policy, and no money to fund the final expenses. It's very difficult for family members, number one, to get a loan, number two, rarely get together and work this thing out. And now there's a home left behind, maybe even young, young children with responsibilities. My name is Don Marquez. Real conversation about your future, about your life insurance, I can put a package together for whether it's term, universal life, whole life. My contact phone number 702-236-2624 702-236-2624 Sahara Rancho is my location in the US Bank Center. My business hours are Monday through Friday from 10am to 5pm and I do a lot over the phone. I can write life insurance over the phone, auto insurance over the phone, boat, motorcycle life insurance over the phone, 702-236-2624 I talked about term a little bit, you know, now again, the maximum years on the term policy is 30 years, depending on your age. Now, if you're 60 in your 60s, you can probably get only up to 20 years on the term. Now, if you now after age 65 I really don't recommend term, you know, even after age 58 I'd rather look at other permanent options.
Donald Marquez 16:20
Let's look at then, if you have to have a 20 year term, that's fine, but from, let's say, you're 5060, your 20 year term is going to take you to age 80, and there may be a reason why you want the term policy. You may have to take care of your grandchildren, or you may have a mortgage you want, you're trying to cover, but it ends at age 80 on a 20 year term policy, when you take it out on age 60, not to say term is a bad option, because you can't convert the policy over. Well, that's every, every scenario is different when you receive all this information in the mail. Hey, just sign here, you're covered, you know, so many very few health questions, you know. And then you're like, wow, this is a good deal. I'm gonna send this in, I can get, I can get all this insurance for a little or nothing, right, for the next 20 years. And come to find out, it's an accidental only life insurance policy. Your family members will be devastated, knowing that you only purchase accidental only life insurance, you know, and a lot of these motor clubs, department stores, and credit cards offer accidental only life insurance. It's a direct purchase that you don't sometimes, you don't even send any money in. They make it so attractive, they make it so attractive, but you know the reason you find out quickly that, wow, I just bought accidental only, and you're paying monthly on a policy for accidental only. Now I'm quite sure, if you're a senior citizen, you've had a conversation with your fellow senior citizens, and they said, "Well, you know, I don't pay that much money for life insurance, because you know I have accidental only. Well, you understand, you have to die from an accident for it to pay. Well, I don't believe in spending a lot on life insurance, because I have my money saved up, which is fine. That's fine. That's your money saved up, but if no one's on your savings account or your checking account with you, you know, I mean, the next of kin could get it, but that's gonna be very difficult for them to get, because they're gonna need a death certificate. Everything gets tied up, and if you don't explain to your loved ones what bank you bank at, these are your account numbers. How did this? How are they supposed to know if you don't have, sit down, had a real conversation. The fourth of July is right around the corner. That's a perfect opportunity to talk to family members when you get together and celebrate about your life insurance, about the things you need to talk about with your children, even your spouse, I find out spouses, they do everything separate, you know, they do everything, and you know, have the difficult conversation. Hey, this is what I want to talk about, and don't say you don't want to hear it, because we need to talk about it. It's very important. Now, let's go to whole life. Whole life is a great benefit, because now once you qualify for the whole life product with no physical. I can write a whole life policy up to $50,000 in coverage. No physical, whole life does build cash value, other than term. Terms of term does not build any cash value, but whole life does. So you do have a cash value asset there that you can borrow money from at the time of need. Now it does take a time, take a little while to accumulate the cash value over time. Now, let's say you're in a policy for five to 10 years and you need some money. Oh, I need, I can borrow from my life insurance policy. I would highly recommend that you pay it back, but there's money there that you can borrow from your life insurance policy. Yeah, own a whole life policy, universal life is a little different now. Universal life, it starts at $100,000 a face amount, and it goes up to in the millions, whatever you can afford. Now, people ask me, How much life insurance can I get, and I tell them, whatever you can afford, that's your whatever your budget, whatever your health is, you know, and don't think, well, I can't get life in. Insurance, because of my age.
Donald Marquez 20:01
Now, the only time you can't get life insurance because your age is because you're now you're 86 and 87 It stops, it stops at 85 I can write a life insurance policy up to age 85 years young, from from day one to 85 years young. Again, my name is Don Marquez. This is your insurance connection, 702-236-2624 702-236-2624 Universal life, whole life, similar policies, you know, other than term, they do build a cash value asset. When you surrender a life insurance policy, you know that you could have money coming back to you, because you've paid into the policy monthly or annually. You do have money coming back, because it takes a portion of the money you spend on premiums every single month, and it goes toward a bank for you. It's like saving money. All of it to me is like saving money. It's a form of saving money. You're buying money when you purchase a life insurance policy, it's not that hard to understand. Well, you know what? If you need a million dollars worth of coverage, you know you can contact me when we'll talk about a million dollars worth of life insurance coverage to cover your family. You know, with the price of everything going up these days, so make sure your grandchildren or your children go to college, they can go right here, and you're on LV, right? Yeah, they can go right here on LV, or wherever they want to go, but you know that's the future. You know, our children today have to have to be educated, they have to be ready for this new society with AI and everything else that's moving very quickly, but make sure you're the next generation is taken care of, and hopefully they do the right thing, but you know, again, when you have a will or trust, I'm not an attorney, I'm a licensed insurance agent, but in my 30 years in this business, I've seen quite a bit, I've seen families torn apart because no one has an idea what a life insurance policy is, or there's no life insurance at all, I've seen family members go in the house and tear up the house looking for their life insurance policy. You know, people have to take off time from work, you know. And when you say to yourself, you know, I don't need any life insurance, but how you gonna pay for who's gonna pay for your final expense? Don't ever say you don't need it, someone's going to pay for your final expense, and I'm gonna tell you something with the prices today at the mortuaries for cremation with a ceremony. It's almost $10,000 today. Yeah, that's a lot of money. That's for a cremation. And what after the ceremony, where are you going to put the urn? Some people don't want to urn in their house, on their fireplace, on their television. Well, you can't put it on television today. Back in the day, you could. We had the big, you know, big wide televisions, the tubes. But today, you know, you can put it on the shelf in the house or next to the plant. But you know, not a lot of times, too, people don't want that in their homes. They, okay, but you need a crip, you need a crib to put it in. So that's an extra expense. Don't think you can die cheap, you know. Well, I don't want much. Just give me $3,000 worth of life insurance. What is that gonna do? That doesn't do a lot. Now, if you have underlying health conditions, you know, diabetes, lupus, cancer, a history of cancer. Now, if you stage one, stage two, I can help you, as long as you have over 12 months to live. I can help you get a life insurance policy if you have AIDS, HIV from the age of 40 to 80. I can write a life insurance policy. Lupus cancer, diabetes, multiple sclerosis, you know, underlying health conditions. When you think you can't get a life insurance policy, I can make it happen if you feel like you're a little overweight. I can get you a life insurance policy. My name is Don Marquez.
Donald Marquez 23:46
My contact phone number is 702-236-2624 702-236-2624 My location is on the corner, Sahara Rancho, in the US Bank Center on the eighth floor 702-236-2624 About your all your insurance policies, it's not that difficult. I make it very simple, very easy, you know. Benefits can start day one when it comes to life insurance. We all put.. I'll decide what policies right, of course. We'll have the conversation together, and I represent multiple life insurance companies, whole life companies, universal life insurance companies, and term, you know, companies like Mutual of Omaha, Prudential, Lincoln Heritage Life Insurance Company, America Travelers Insurance. I mean, it's just the list, just goes on and on, Trans America. You know, I am a licensed agent as a broker. I do not charge a broker fee. And if you are a smoker, we have a program now, it's called the Smokers Quit Quid program. You have up to 36 months to stop smoking. We will rate you on your life insurance policy as a non smoker. Her, for the first 36 months, you do have to stop. You have to stop for 12 full months, because you will get retested. Let's say you, you smoke for 24 months, and then the last 12 months you stop smoking completely. There will be a saliva test or a blood test to prove to the insurance company you have stopped smoking, because we're going to start your policy as a non smoker, that gives you a huge advantage over the other life insurance quotes you've ever had before. You know it's not that difficult. Hey, you know, I smoke, my life insurance rates going to be very expensive, and most people feel that way, and they are expensive as a smoker, but when you start off and you want to stop smoking, and it's really good for your health to stop smoking. It really is good for your health to stop smoking. I've had family members that smoked all their life, and they probably would have lived another 10 to 15 years if they had to stop smoking easily, but it's really bad for your lungs, it causes all the other problems, and the price of cigarettes. Today, I was, I was in a little convenience store, picking up some items in the convenience store, and gentlemen, he was in front of me, he said, "Pull those pack of, you know, Newports down, or whatever it was he was smoking, and it was like $10 a pack, I couldn't, what, I'm not a smoker, I used to smoke cigars every now and then, I would go to a cigar lounge and have a cigar, have a glass of bourbon and cigar, you know, I thought that was pretty cool combination, burgers and cigars, bourbon and cigars, until I wake up the next day, and, like, yeah, you know, this is not.. I'm not.. I'm not a smoker. I'm just.. I can't do it every day. The cost is very expensive. Again, if you are a smoker, I do have this program with a life insurance company. We could, we can write a life insurance policy up to $450,000 You, as a non-smoker rate, you just have to stop smoking the last 12 months. My name is Don Marquez. This is your insurance connection. I broadcast right here, K-Unb 91.5 jazz more every Sunday morning from 8am to eight 8:30am Talk about your auto insurance, your homeowner's insurance, yes, and your life insurance, I do all the work, I do all the shopping. I do not share your information with any of the resources. The company that we select to move forward with your insurance, that's who has your personal information. I don't take any payments in my office. I don't know, cash come across my desk, no checks come across my desk. You pay directly the insurance company. I do not charge a fee to come see me. My name is Don Marquez. This is your insurance connection. We'll do this again next week. It's hot outside. Hey, you got to stay cool until then. Be safe.
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