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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. My name is Don Marquez. This is your insurance connection broadcasting right here at KUNV 91.5 Jazmor. Good morning, good morning, good morning. Early Sunday morning from eight a.m. to 830. I am a licensed insurance agent, and I come on the air right here, 91.5 jazz or more to educate you about your insurance needs. Of course, we talk about life insurance a lot, auto insurance and homeowners insurance. And why is that important? Because you need to know what you're paying for, and how you can save money by you know shopping for auto insurance rates. And people usually shop for auto insurance rates usually every three years, you know. And in Southern Nevada, I have to say this: when you see those commercials on television, and they talking about saving hundreds of dollars, and this is the way you save it on auto insurance. I'm a licensed insurance broker for the last 30 years, right here in my hometown, Las Vegas, Nevada. But the way you save money, pay your insurance auto insurance policies in full for the term. Now, of course, if you can't afford it, they have other options. You know, of course, you can always get those credit cards with zero interest for the first 12 months or however they intro offer. But I would I would strongly suggest to pay your car insurance in full for the term for the six months, or for the 12 month term, and the reason why because you will save hundreds by paying it in full versus month to month. If you ask your insurance agent, what is my premium month to month versus paid in full for the term. The term again can be six months or 12 months, and when you find you you hear the difference, you make that you make that determination. Okay, you have to say to say, "Well, I can afford to pay this, or sometimes you can pay quarterly, and that's every three months. Now that that does that's not that it's it's not that rare, but a lot of times we you know insurance agents don't offer it because most people don't want to pay quarterly. They rather pay month to month. That's the most commonest month to month because it fits in your budget. My name is Don Marquez. This is your insurance connection broadcasting at KUNV 91.5 Jazz and more Sunday morning every Sunday morning right here at the radio station for about three and a half years now, and a licensed insurance agent. I received my license back in 1996, right here in Southern, right here in my hometown, Southern Nevada, and I'm licensing for life insurance California, Nevada, Louisiana, Texas, and Michigan. Yes, so so if you're listening to this program at KUMV, you know we broadcast all over the world. And if you're listening to this program and you're in, let's say Utah, right, our neighboring state Utah, and I like what this guy is saying. I needed to. I I need. I need life insurance. I can get licensed in Utah, not a problem. It takes me only about about less than a week to get licensed in Utah. And the thing about when I when I offer insurance, especially life insurance, you know, I want to make sure you fully understand what you have. Yeah, in my career, 30 year career, I talk to so many people that pay for insurance month to month, and and I'm gonna tell you, you pay a lot of money for insurance. When you start adding it all up, you pay your life insurance, you pay your auto insurance, you have homeowners insurance or renters insurance. Is insurance is always all around you, and then we'll talk about our health insurance. So you have your health insurance, you have your prescribed medications that you take through and you pay copay through your you know your deductible or whatever that is you have to pay. Now insurance is all around you. Responsible people have insurance. It never made sense to me to have auto insurance and no life insurance. Never made a lot of sense to me. And I've talked to a lot of people.
Well, you know, I don't want to talk about life insurance right now, but I really talk about the auto insurance. Let's get that auto insurance rate down. The car is the reason why. One of the reason why, and it's so many different moving parts with the auto insurance. Why the rates are much higher in Southern Nevada, in most states. It's the. Cost of the cars, and the cost of the cars are expensive all over all over the country, right? But it's just the environment we live in. Unfortunately, we live in an environment where there's quite a few accidents daily, and you know you you could be on the 15 or 215, and and all of a sudden you know there's there's traffic delays, especially on the 15. Now, if you want to get on the 15 and regularly traffic delays, no matter if you're heading north or you're heading south, you know there's traffic delays, and it's always you know kind of around the strip area because people are looking and not paying any attention. I know we have a beautiful strip. Yeah, it is gorgeous, especially at night. I mean, the strip lights up, and you can be driving on a 15, and you look at all those beautiful lights, and not paying attention on the road. And bam, you know, people are in and out of traffic, and you hit someone. Or here's another one: texting and driving. Texting and driving is it causes a lot of car accidents. It's not that important to text and drive, you know. And some of our seniors, unfortunately, their reaction time is a lot slower than it used to be, creating a lot of rear-end collisions. Not to say all seniors. I'm a senior as well, but you know, people want to know why the rates are so high. And then, of course, you know there's that's the then when you get in a car accident, you may or may not have enough coverages to cover that car accident. You know, and and you know when you get in a car accident, please give the people your information. Now, if you are, it's not to your fault. I've said this again and again on my radio program. It is very important to take out your cell phone. We have amazing electronics these days. Take a picture of the car accident. Take a picture of the cars. You know, drivers. You know, if you can, the plate, you know, front, rear of of the accident, a car hitting your car. If they're still touching, please take a picture. All of that. That's evidence for your for your claims person that's going to come in and review your claim. You can email those pictures and take a picture of the person's ID card, front and back, front and back. Now, if it is not your fault, and I can't say this enough, if the accident is not your fault, do not file a claim against your own auto insurance policy, and the reason why is because what happens when the claim is closed, you know they put you at fault, and now you're trying to shop for insurance. I had a car accident, and my rates are going up, you know, and because they put you at fault, because you file a claim against your own policy. Now you have to pay your deductibles, and it just goes on and on and on. Now, when you're shopping for car insurance, I just want to let you know it's very difficult to shop for car insurance right after a car accident, or if you got a claim, a theft claim, or a major loss on an auto insurance policy. You know, when your rates go up, it's because the insurance companies, the auto insurance companies, are trying to recover some of their losses. And you say, "Well, I've been paying on insurance for the last forever. I know, and so have I, forever. Ever since I said, ever since I was driving, I wanted a car at at 16. So my dad, hey, he was my mom and dad got me, you know. They okay. This is what they did. They they took me to the car lot. I picked out the car I wanted because I'm paying for it, right?
And I had to pay the car payment and the car insurance payment, along with gas and everything else at 16. So I had a little job on the strip because I grew up, you know, born and raised in Vegas. I had me a little job on the strip to, yeah, with the flamingo to pay for my little car payment, and and back then my you don't believe this, but my my car insurance was right right around, and I was 16, yeah, you know, no, it was between I'm gonna say this, so we we can't say real prices on the air, it was between 49 and 51 dollars a month for my car insurance. I can say that right for my car insurance at 16 years old. Not today. No way today. And I had my own car insurance. You know, it was yeah. It was between those prices. And I had a nice big V8. You know, car, and it was most it was common then. Most of my classmates had big, beautiful cars, hot rods, and they're all most of them were all V8s. Where very few of us had four-door cars. We all had two doors because we wanted to impress. You know, we the guys wanted wanted to impress the girls, and you know, whoever had the nicest car, the girl would be attracted to the nicest car. When every guy had the nicest car, of course, you know. But those days are long gone. You know that was glory time for me back in. You know, and I'm talking about back in the the 70s. You know, the early 70s. This is when all this was happening, and you know. But today is so. So different now, mom and dad, big Escalade, Denali, big SUV. You know, son just turned 16, good student. You know, no trouble. You know, now you want he wants to drive or she wants to drive. She goes to DMV, you know, get her driver's license, get her his driver's license, and now they get put on your car insurance, and you say to yourself, "Oh my God, the rates have gone up! I put, I put my son or daughter on the car insurance, and look at these rates. Oh my God, I can't afford this. But your son has a driver's license. Your daughter has a driver's license at 1617, years young, and and you know the story that we get. Well, they don't drive my car that often, right? But see, the problem is this, and or they own, they only drive the one car sometimes. Now, if you have a fleet of cars, three cars in your household, two cars, and most people have two cars in their household. Now, Junior or your daughter can drive any car in the household because they're not assigned assigned to one vehicle. They can drive any vehicle because they're insured on all your cars, especially if you put your son or daughter on your car insurance. It is not wise to have the them on their own insurance policy, unless unless you know they bought the car on their own by themselves without you. Now, that's not always a wise decision if if a young person wants to purchase a car in their own name because they maybe they inherited some money from their grandparents, or, or, or something happened in their life where they could afford the to buy a car without their parents' consent, and they go out and buy a car from a buddy, a friend, or you know whoever. But now they want their own car insurance. It's going to cost more to get that car insurance. Not to mention the registration. That costs. That's another fee. Now, me as a insurance professional, I try to shop for the lowest rates I can for you, with with the adequate coverages. I just don't want to cut the coverages down to almost nothing to to you know to to insure you. Now, if you have young drivers, you really need to take a hard look at whether they need a driver's license or not, because if they do have a driver's license, just keep this in mind to keep your insurance costs low, your auto insurance costs down. Do not let your 16, 17 year old go out and get a driver's license.
They can get an ID card if they, especially if they're not driving that often. You know, even today, which we did not have, you know, back when I was growing up at that age, 1617, years old, they have now. They have these share ride programs. They have these share rides. They go on the phone and call a share ride, and the share ride takes them anywhere they want to go, right? And that is a fee, of course, but it's probably more cost effective, depending on how often they get the share ride, and put that person on your auto insurance policy. For more information, my name is Don Marquez. This is your insurance connection. My contact phone number is 702-236-2624, my location on the corner of Sahara and Rancho, exactly on the corner of Sahara Rancho, in the U.S. Bank Center eighth floor. I work by appointment. My business hours are Monday through Friday from 10 a.m. to 5p.m. Again, right on the corner of Sahara and Rancho is the U.S. Bank Center. I'm on the eighth floor. I've been there since 2015. Licensed in the state of Nevada for auto insurance, homeowners insurance, yes, and life insurance for the last 30 years. I love what I do. I I absolutely love this business. It was meant for me to be an insurance agent, and you know, and years ago, I met this lady. She was a young lady. She was an Allstate insurance agent, and she told me when she first had a conversation with me. And I was young. I was probably in my mid 20s, you know, back then. And she said, you know, I think you would be a really good insurance agent. You know, I think that would be something that you know you would probably be good at, and she was forever so right back then. You know, I didn't go to insurance school. I waited till you know long after you know married, house, children, dog, etc. You know, then I decided you know 19 nine. Fast forward to you know 1996. Hey, you know what? I want to be an insurance agent. It's kind of always stuck with me, because it was interesting, you know, how the business works. You're helping people. I help people. I help people, especially when it comes to their life insurance. You know, so many of you. Thank you so much for listening to this program, and contacting me for life insurance. You know, I've helped a lot of families over the over my great career, being there for families at that particular time of need. You know, and they're just saying they say to me, thank you, to encouraging my dad to get life insurance because he he was stubborn. He didn't want to get any life insurance, and you convinced my dad to get life insurance, and I'm so thankful because now we have enough money to take care of his final expenses, right? And in this country, the average closeout of one estate is about $70,000 to close out a person's estate, and you may say to yourself, "No, no, no, no. Why? That's too much money to close out an estate. Yeah, well, think about it, Ryan. Let's let's break it down. To close out one's estate, let's take let's take care of the funeral first. That's the first thing we have to take care of that's between 15 and $20,000. So let's say it's $20,000 because now you have to buy the land, the plot, the container, the vault to put the casket in, the service, the the repass. All right, that's 20,000. Let's say up to 20,000, right? And and now that's so now we have 50,000 left on on on a $70,000 estate closeout, right? Person had a car; they still owed a significant amount of money on the car. Let's say they still owe $25,000 on their car. Wow! Right now we have $25,000 left because something happens has to happen to the car. Either you're going to turn it in or pay on yourself, all right? Now let's say we have, but okay. Say you want to keep the car and pay it off. So you pay the car off. You paid the funeral. Now we have $45,000, 20,000 for the funeral, $25,000 for the car. Let's say we have $10,000 in credit cards, $5,000 in medical bills.
Now we down to $10,000 for living expenses, right? Let's say you know you have a you have a you rent an apartment. Your dad, senior citizen, he had a rental apartment, and now you living in another state, or you live in this state, for an example. So in order to you know when you lose a loved one, you don't immediately go pull all their furniture out of their home. You don't do it immediately. Yeah, you have to process yourself to do all of this. I've been through it, and it doesn't happen overnight. Now it's going to be a you know couple maybe two or three months when you say to yourself, okay, I have to pay the rent or the mortgage while I'm processing putting this together. Let's say you live out of town, and now you have to go back and forth, back and forth. You have to pay the mortgage, pay the rent, where you can get you know moving people together to move out and go through. Well, you want to go through all their personal items, pick out what you want, and then you you know the movers. Now here come the movers, and all this costs money, time, and money. So to close out a $70,000 estate is not that difficult. If it's not that difficult, and now you close another state with a surviving spouse. Now what's going to happen to that surviving spouse? Who's going to take care of mom? Who's going to take care of your grandparent? You know, that's another expense you have to make after, you know. So don't don't think well, okay. And even if you think about cremation, let's put that on the table because it's less than a traditional funeral, but the other expenses still could be there. I have policy design. I have policies, companies that I use for permanent protection, designed to meet your health profile. No physical exam required. Protection starts from the very first day with most people. Now, every once in a while, I do a little wiggle room. Most people may or may not qualify for the day one, but I would say 90% of the clients I speak to, you know, have a conversation with, they qualify for day one insurance. Bills cast value over time, accelerated death benefits. I mean, accelerated death benefit means that you can accelerate your benefit while your death benefit while you're still living. Quit smoking advantage. In other words, for the first 36 months, you will be rated as a non-smoker. You get to my non-smoker rates because you know people want to stop smoking, and then you know one of there's no physical examination required up to $50,000 on whole life protection. If you need more life insurance, I can get you more life insurance. My name is Don Marquez. My contact phone number is 702-236-2624 702-236-2624. My location is on the corner of Sahara and Rancho in the U.S. Bank Center. Eighth floor, 702-236-2624. Yeah, I mean it's better to call me because that way I can set you up with an appointment. Don't just show up at the office because I may or may not be there. Honestly, you know, I have I have another office that I use utilize, so I may or may not be there. You know, it's hot. I don't want to get in the car and drive if I don't have to. Now, for your life insurance, I can write a policy over the phone. I am licensed for life insurance in Nevada, California, Texas, Louisiana, and Michigan. And again, if you're living in neighboring states or a different state and listening to this program at KUNV 91.5 Jazz or more, I can get a license in that state, and pretty soon I may be getting license in the in the state of Mississippi. I have clients in Mississippi. I've been talking with on policies they purchased, and they and I they sent me they sent the policy to me. We want you to review our term life insurance policy. It's a term life insurance policy, $300,000 term life insurance, but the policy is getting ready to end. What happens with your term life insurance? Some of these companies they sell you a 10 year term life insurance policy. 10 years now.
10 years go by really quick, but within a term policy, you know there are stipulations where you can convert term life insurance into permanent life insurance. How does that work? As an insurance professional, we take your policy. I take your policy and see if you eligible for a conversion. If your policy offers a conversion, meaning I can convert this term policy into a universal life or a whole life policy, right now to fit your budget. Keep in mind, let's say you bought the policy seven years ago, right now you're seven years older. Term is the lowest cost of insurance you can purchase. Now, if you can't afford the rate, let's say let's say your policy 300,000 for an example, right? But you cannot you cannot afford that $300,000 universal life insurance policy or whole life policy. What we can do for you to accommodate because going from term to universal life or whole life makes the policy permanent. Term insurance is not permanent. It has a 30 year, a 20 year, and a 10-year term. That's it. That's it. Once that's over, it's over. Now they will extend the term. The life insurance companies will extend the term, but it's going to get very expensive very fast. But what you want is a life insurance policy with rates and benefits locked in, so you don't have to be concerned about oh you know every year my policy increases. No, once the rates and benefits are locked in, then you you you can it fits in your budget. I'll work with your budget. I can work with your budget. We want to make sure your your life insurance policy. If you're looking to take that term policy, don't don't cancel it. Let's take that term policy, convert it into a universal life policy or whole life policy. If you have borrowed money against your life insurance, most people don't pay that loan back. But as you don't pay the loan, when you don't pay the loan back, it accumulates interest on money borrowed. Although it's your money, but you know it's your money. But if you have a small $25,000 life insurance policy, and this happens quite often, and people borrow two or $3,000 from that small life insurance policy, you know what happens every seven years, every seven to eight years, that 3000 now that you borrowed becomes 6000. No, now another seven eight years go by, that now 6000 is turned into 12,000. Your your your money could double. The money borrowed could double every seven to eight years, right? Because interest is accumulating when you pay in your normal payment, your normal monthly payment that won't change because you took out a loan, but part of that money that you think you can probably think part of your premium goes toward the loan. No, it doesn't. You have to contact your life insurance company. When you borrow money, you want to make a separate payment for the money borrowed. My name is Don Marquez. 702-236-2624 is my contact phone number again 702-236-2624 Donald Marquez and if you can't call me you can text me I'll take that policy with that loan against it and let's let's open up a brand new policy. Let's surrender that policy, you know. Let's surrender that policy that you have with the loan against it, and surrender it. And you may receive cash from it, and you if you haven't took all the money out of the policy, you know. If you've heard stories, you know people pass and. All the money, all the money in their life insurance is gone because the money was borrowed. That happens quite often, believe it or not. That happens quite often. You know, over time, you know, Dad took out a loan for for $2,000, and he had this outstanding balance for the last 20 plus years, and now $2,000 have taken all the $20,000 equity face amount from the policy. Now, once we, you know, surrender that policy, that policy is over. You don't owe any more money. But now you have a fresh start. You could receive a balance of the of the of the cash value that's in the policy, right? And that now you could take that, surrender it, and start brand new. That loan is forgiven. It's over because when you don't pay on the loan, it goes against the face value, right?
So if you have a small $20,000 policy, and because the loan is accumulated over time, and now you owe over $10,000 on the loan, on the original loan was only two or 3000, you're like, wow! Now my face amount on the policy, went from 20,000 because you borrowed the money and the interest has accumulated over time. Now you only have $10,000 worth of life insurance. Let's eliminate that. Let's get rid of that old debt. You're never going to pay it back. It doesn't make any sense to take $10,000 out of your savings and put it toward that policy unless you absolutely have to, again, you know, physical. Most of my policies, I write there is no physical exam required. It only takes about less than 30 minutes to write a policy over the phone. Less than 30 minutes to write a policy. Or if you like to come in and meet me, that's fine. My phone number is 702-236-2624. You can call me or text me at that number. We'll contact you back. Keep in mind, we all need life insurance. If you have auto insurance, you need life insurance. Or if you have a church or a group, I you know I don't charge to come out and talk to your special groups. I'll be more than happy to talk to your church organizations or your groups, you know. My target market is 55 and older, 40 and up. You know, even the younger, you know, people. You have a young family, and if you need a large policy, I can offer you larger policies too. They start. They start at the $1,000 for for the face amount all the way up as high as you want it to be. So you know sometimes people only want you know what I want a cremation, you know I don't want to spend a lot of money, so you know they're looking for that $5,000 life insurance policy. No problem, I can write you a $5,000 policy, and if you don't you know if you want to make the you know the funeral home the beneficiary, we can make that happen too. My name is Don Marquez. This is your insurance connection 702-236-2624 702-236-2624. You know, let's get out and enjoy the day today. Hopefully, it's gonna we're cooling down a little bit. I'm glad to see it. Maybe about I don't know another four weeks of this heat, and we'll get down to cooler temperatures. 702-236-2624. Everyone, enjoy your beautiful day today. We'll do this again next week. Take care.
Transcribed by https://otter.ai