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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 KU NV studios original program.
Wesley Knight 0:05
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. Dave
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, homeowner's insurance, yes, and we talk about life insurance. Welcome to the show you.
Donald Marquez 0:46
Good morning Las Vegas and all the surrounding communities. My name is Dave Marquez. This is your insurance connection. Broadcasting at KU nv 91.5 jazz and more every Sunday morning from 8am to 830 Welcome. Welcome to my show. I am a licensed insurance broker. I love absolutely love what I do, especially when KU MV members contact me, listening to the show and we talk about their insurance concerns. And yes, most people do have insurance concerns. Don't ever say I'm good when it comes to your insurance, because you never know. You could be paying a little bit too much for your car insurance. You may not have the right life insurance policy, or your home could be, you know, insured, but there's not enough protection on your home. Now, we do not for the home. Go by the value of the house. We go by how much cost to rebuild your home. We go by how much cost of materials and the cost of labor to build your house. Many people call me and say, You know what, my house is worth this much money, and I don't understand why they want to charge me this much for my homeowner's insurance. So I mean, there's a possibility, if you have a small, smaller home, and depending on, you know, the building materials, you know, people are concerned always about the value of the house. It's never about the value of the house. It is about the cost of labor, building materials. That's what we look at. Just imagine if your home was in Laguna Beach, California, on beachfront property. Regardless of the size of your home, it's going to be worth 10 times as much. However, it does not take 10 times as much to rebuild your house if it's beachfront property in Laguna Beach California. And if you've never been to Laguna Beach California is really nice place. It's only about three and a half hours from Vegas, you know. So that being said, you know, I do a full evaluation of your auto insurance homeowners. If you are renter, you should have renters insurance because your landlord does not cover through their landlord's policy, your personal property, your furniture, your you know your your jewelry, your you know any liability that you may have, then the landlord can come back on the renter. Let's say a renter just starts a fire in the house. Right? As a renter, you just, you just can't walk away from that. And you were liable because you was negligent. Now the landlord, you know, for what is worth, can come after whatever assets that you may have. And a job is an asset. Don't ever think, well, you know, I don't have any assets, but you're working, that's an asset. A paycheck is an asset. So don't want everything you know, you can walk away from it scot free. It doesn't work that way. The landlords, people sued today for everything, and you know you could be getting served and okay, you Cause, you know, $20,000 worth of damage to my home, and you just can't walk away from it, because you can't live it in it anymore. But if you do have a renter's insurance policy, you know the landlord can file a claim against your renter's insurance policy to get those damages repaired. My name is Don Marquez for more information. My contact phone number 702-236-2624, my location, Sahara Rancho in the US bank center, eighth floor. I work by appointment. My business hours are Monday through Friday, from what 10am to 5pm work, I work crazy hours. You know, that's just working normal hours. Sometimes I'm on the phone eight o'clock at night talking to clients. But I try to be accurate, you know? I try to be as much informative as I can. You know, a lot of people like, Okay, I'm just looking for the lowest price possible. But what are you getting for the lowest price possible? Again, my business hours are Monday through Friday, from 10am to 5pm Monday through Friday. I work by way of phone. I write life insurance over the phone. I write homeowners over the phone. Own. I write auto insurance over the phone, 702-236-2624, or if you just one of those clients, just want to meet me face to face in my office, that's fine. It's located again on the corner Sahara Rancho in the US Bank building, eighth floor. I work by appointment, so please just don't pop up. Show up. Some of you have and I may or may not be there. That's, that's the that's, that's the deal. I may or may not be there because I do have appointments, other appointments and other locations. And some days on my calendar, I'm in my office all day alone, and there are times I'm not, I'm on the phone at home, or I have other appointments, you know, etc. 702-236-2624,
Donald Marquez 5:47
let's get right into one of the questions that was asked about life insurance. What is accelerated death benefit? Rider, accelerated benefit payment? Rider, okay, so accelerated death benefit. That's what we're talking about here, when a loved one, when you when you have less than 12 months to live, right? You can take out an accelerated benefit payment. It's a payment up to, depending on the company, up to 80% of your face amount of the life insurance policy. This is a living benefit. Oh, let's say your policy is worth $100,000 for an example, and you could take up to $80,000 because that's 80% of your $100,000 face amount. Policy, you can take up to that amount while you're still living. And why would you want to do that? To take care of your final expenses because you have less than 12 months to live, you contact the claims department in life insurance company. You tell them, say, Well, you know, I only have less than 12 months to live. You know, I'm stage four cancer for an example, right? I just want to make sure everything's taken care of. While I'm still here, they will put the money in your hands so you can take care of your final expenses. Okay, you can take care of your final expenses. If you need a power of attorney to help you with your final expenses, or just to help you get a life insurance policy. I work with Christine Bernard. She is a paralegal. I can have her write a power of attorney, just in case, you know, one of your family members may have Alzheimer's, dementia, or they're just not able to, you know, speak in their behalf. You can get a power of attorney over them, sign for them, answer all the health questions for them through Christine Bernard. Now Christine, she and I work together, but we also work separately. We work with each other on referral basis, so but she has been very helpful in the past for me to get clients that you know. Some of the time, these clients, their loved ones, have special needs. Sometimes my clients have special needs, and this with a power of attorney in place, a person can act as they in their behalf, answer all the health questions and even sign for them. 702-236-2624, 702-236-2624, accelerated death benefit puts money in your pocket while you're still living up to 80% some companies will do only up to 50% it just depends on how you read the contract. Now a lot of you make this mistake, especially my seniors, accidental death benefit writer, oh, my goodness. Now if you have a life insurance policy that pays for final expenses, that pays for natural causes, you also have accidental death included in that policy. So a lot of you have asked me this question in the past, hey, if I have a life insurance policy and if I die of an accident, am I covered? Yes, you are, because accidental death is already included in your policy. Now, the writers mean when you have an accidental death benefit rider, that means it pays Double Indemnity. Now the rider is going to pay off, cap off at a certain dollar amount, but it's in addition to the current policy you already have. So in other words, for an example, you have $100,000 life insurance policy. You Dave an accident, your family members receive $100,000 however, if you include the accidental death benefit rider on your life insurance policy, now, instead of receiving $100,000 death benefit, your family members will get an increased amount, because now you're carrying the extra coverage on the policy, and sometimes, who knows, it could be twice as much, pay two times as much. Or, you know, the accidental death benefit rider can cap off depending on the type of accident. Now, keep in mind this, most life insurance companies, with the exception of maybe two or three that I know about, will exclude death. By way of a car accident as a benefit. Now, if you don't have the rider, they will still pay your family members $100,000
Donald Marquez 10:11
but with the rider, sometimes they exclude the accidental. Come from car accidents. They may exclude it. It just depends on the language and the contract, and this what people don't do. They don't read the language that's in the life insurance contract. When you purchase life insurance, you are purchasing a contract of good faith, where you pay, make your premium payments, the life insurance company will perform at that time of need. Now again, don't be afraid if you say, Well, if I die in an accident, the companies aren't going to pay. Yes, they will pay, but they may or may not pay that additional rider, because some of those accidents, the car accidents, and when people especially have accidental only coverage, those car accidents could be excluded. Could be excluded. You just have to read your exclusions within your life insurance policy. Yeah, there are exclusions. And what are exclusions saying what they will and won't pay for. Now, if you have a regular life insurance policy, they all pay for final expense if you were to pass away. Of course, your beneficiary or beneficiaries receive the death benefit. And if you've never received a death benefit, okay, if you never received a death benefit, listen closely. You get a lot of money, all upfront, tax free. You have to make wise decisions with that money you receive, because sometimes you know, you know your loved ones. Hey, I'm leaving you 200 300,002 or $300,000 death benefit, and you have to spend that money wisely. You have to take care of certain things. If there were certain responsibilities you may have. You have may have young children or children you know, you may have other responsibilities, like a mortgage bills, credit card bills to be paid off so the money will come life insurance companies will pay if you take out what I spoke about earlier, the accelerated death benefit, and you have $100,000 life insurance policy. You take out 80,000 because you only have a short term to live now, the other 20,000 is for your beneficiaries to receive, because you've already received 80% of the 100,000 which is 80,000 now there's $20,000 left when you do pass, that's what your beneficiaries receive. For more information, my name is Don Marquez, if you're tuning in for the very first time, welcome to my show. I've been right here at kunv, 91.5 jazz and more going on four years now, I do appreciate your listening audience that listen to my show, that tunes in every week to get valuable information about insurance. And people tell me, you know you, you, you give out a lot of important information. Okay, you receive a lot of important information. So that's when you should, you know what? I'm gonna give this guy a chance. But as many times as I've been on the radio, I've had people contact me, you know, well, I wanted to call you because I've called multiple companies, and I've heard you many, many times on 91.5 but I want to call these. They call these other companies first, and then they call me last.
Donald Marquez 13:25
I guess the fact that you call is fine, but you know you don't have to do all that shopping around and exposing your valuable information online to eventually come to me. I was asked this question the other day, well, what's the difference between you offering me a life insurance policy and I get getting a life insurance policy online. Well, you know, this is not like gasoline when you go to the gas station self help. This is we're talking about a contract here to perform at a certain very important time for your family and yourself. 30 years in the business, insurance products that I offer, the ones that I do offer now I don't offer commercial you know, I don't offer health insurance, but with the insurance products I do offer, I've studied for many, many the last 30 years as an insurance professional, we have to take continuing education classes. Yeah, we have to take, you know, continuing education, because products change, the contracts change, and we have to inform our clients of these changes. So the question that was asked, Why isn't, what's the difference between you, I mean, going online and buying a policy and you're offering me in a policy because you don't know what I know, right? Because you're probably going to buy the wrong policy, and especially when it comes to life insurance, more than likely you will purchase the wrong policy, because you might see a 10 year term policy out there, and it looks very attractive. Active to you like, wow, I can get this much coverage for for this amount. And you know, the 10 year term policy going to say you're insured to age 95 oh, yeah, it's going to be there in writing. But after your 10 years is up, then all of a sudden, now the rate adjusts every year on the policy's anniversary. You don't want that to happen. It has happened to so many people that think they're, well, I don't need an agent. You know, I don't know why I need an agent. I could do it myself. Well, the insurance companies love it when you buy a 10 year term policy, because more than likely you will outlive that 10 year term policy, and when that term term is up all of a sudden. Now, with European before now that goes up 10 times more, sometimes, depending on your age, it goes up a lot more overnight. And guess what the insurance companies did notify you by way of mail. Hello, Mr. Jones, your policy term ended. Now you're into the extended term of the policy. These are your new payments. And you're like, wow.
Donald Marquez 16:07
And that's when you realize, well, wait a minute, maybe going online to purchase this policy wasn't the best, smart thing to do. Probably wasn't you know wise to do, because you don't read the contract. When people shop online, they're looking for one thing and one thing only, the lowest cost they can get something done. But you know, again, it may you may be shooting yourself in your foot by trying to, you know, do this on your own without an agent. Now, with an agent, you can say, You know what, Mr. Agent, I want to make sure my family is protected. Everyone says that. Everyone says that. I want to make sure that when I'm gone, my wife, my children, they get something. Yeah, everyone tells me that, and I get that. I understand that. I do. But by you going online with good intent of leaving your family, you know, financial security, it may not be the right policy for you, and this is why I take these continuing education classes, to stay informed on the new products and services that are available for my clients, to inform my clients when that day comes and if something happens. I've had many people call me and say, Hey, Don I just lost a loved one. What do I need to do? And here's, here's a consistent call that I get now. This is because people, they don't know, they don't communicate. They say, You know what, I have a loved one just passed. We don't know whether they had a life insurance policy or not. We heard you talking on 91.5k un, V, and we just need to know. How can we find out? Do my loved one, my dad, okay, or my mom, have a life insurance policy? Well, the only way I can tell you is if I hadn't offered them a policy, is to go look at their checking account, because if they do have a life insurance policy, you can see the name of the company on the checking account statement, right? You can see the name, okay, hey, oh, here, here's, here's the life insurance company. And they pull it out consistently on this date, every single month, right? Man, you contact that life insurance company. Keep this in mind, they're only going to talk to the beneficiary. Now, they may or may not tell you who is the beneficiary, but they're gonna say, You know what? But then this is why it's important to sit down with your family members and let your family members know who are the beneficiaries. Who are the beneficiaries, right? I mean, it would, it would cause your family members to, like, wonder who's a beneficiary, if the beneficiary is still living, if there's a husband and wife situation, this happens quite often, too, as well, though, the father dies first, right? And he was a primary beneficiary on mom's policy. Mom was so upset that she lost her husband and never replace the primary beneficiary. Never replace the primary beneficiary with no contingent beneficiary. Now the policy goes into probate. It's a mess right now, if the money's held up or here's another example. You know, single parent, one child, put the child or the children, single parent, put the children on as beneficiaries, and they're all underage, under 18 years young. The person dies before they turn 18 years 18 years young, right at 18 now they will receive all the money, all at once, but as long as they're under 18 and they're beneficiaries or beneficiary of a life insurance policy. The life insurance company will put that money in a trust until they turn 18. Now, if you have a large life insurance policy, and when they turn 18 years young, then you know that they get they can get the money all at once. Now you. Put it in the trust or will? I don't do that. You would have to contact an attorney to put it in a trust. I offer the policy. You go to the attorney, the attorney will, you know, put the life insurance policy in the trust. And however you want the money, you know, dedicated to whatever loved ones or whatever. Institutions however you want to set it up, you know your trustee would adhere to your wishes. My name is Don Marquez. This is your insurance connection. 702-236-2624 702-236-2624
Donald Marquez 20:39
you know when I was asked the question too as well, what are the first things you do when you lose a loved one, right? Yeah, I just got a call. I just got a text from first five calls you make after a death. Just ask him. That's good question. Well, I think the first things you want to do is contact your family members. You know, contact your family members. How many that may be, who knows? Then you're going to contact the mortuary. So you know, the remains of the individual can be picked up. Then after that, you want to contact your life insurance company, if you have life insurance, if you have life insurance, because what you want to do is file a claim as soon as possible. The mortuaries will take their portion out of the policy to pay for the funeral filing expenses. An example, you have $100,000 life insurance policy, right? The service is 15,000 you take out, they'll take out their their portion. They'll give the beneficiary the balance with the death certificate. Keep that in mind now, again I talked about earlier. You know, getting an advance on your policy. You can get an advance on your policy without the death certificate, but if you don't take it out in advance. You pass your loved ones, use the life insurance policy, make sure they know where it is and who's the beneficiary, and the beneficiary or beneficiaries are still living the of course, the mortuary can only talk to the beneficiaries. Now, if you coming in with a life insurance policy in the mortuary, and you are not the beneficiary. Well, I'm the new wife, and I don't know where his children are. Well, I can't get in touch with them. Well, they don't talk to me. They're only they can only file a claim against that policy if you're the beneficiaries. So keep that in mind. I know it's a lot of information. This is News. You can use 702-236-2624 702-236-2026, 24 My name is John Marquez. I'm a licensed insurance broker. I offer life insurance in Nevada, California, Louisiana, Texas and Michigan for auto insurance, homeowners insurance. I'm licensed in 48 states, with the exception of California and New York. You know, we got we all gonna have a date. We're all gonna have a date. Or, you know, is your final expenses in order. Now, if you think you cannot afford a life insurance policy you cannot afford not to have one. With the rising cost of funerals, along with everything else, it was going up too as well. You know, to bury a loved one today, you're looking anywhere from 15 to $20,000 and up. 702-236-2624 702, 702-236-2624, if you have a current life insurance policy, I do no obligation reviews. I review your current life insurance. No fee, no charge. You bring it in. I cannot pull it up on the computer, and we'll go over your policy line by line. It's so many of you. Thank you so much for coming in with your life insurance. And we've, we've discovered, I would say seven out of 10 people have the wrong policy. Now, if you have a great policy and it looks good and everything looks as in order, I'll push it back to you and say you need to keep this. Or if your health has changed, if you have diabetes, multiple sclerosis, you know, HIV or AIDS. I can write a person with HIV or AIDS as long as they're 50, between 50 and 80 years young, up to 25,000 in coverage, no physical. I can offer a policy up to $50,000 no physical. It only takes about 20 minutes over the phone. 702-236-2624, my name is Dave Marquez, we'll do this again next week. I want everyone to go out and enjoy our beautiful weather. It's cool down a little bit, but you know, who knows how long this is gonna last? 702, 362624, is my contact phone number. My Location is on the corner of Sahara Rancho in the US Bank building at work by appointment. Only 702-236-2624, everyone go out and enjoy yourselves until next week. Just keep it crispy. You.
Transcribed by https://otter.ai