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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 Donald Marquez. This is Your Insurance Connection, another edition of Your Insurance Connection Broadcasting, right here at KUNV 91.5 Jazz and more. Thank you for listening. Thank you for tuning in. Every week, I'm a licensed insurance agent, licensed right here in the state of Nevada, California, Texas, Louisiana, and Michigan for life insurance and for auto homeowners insurance. I'm licensed in 48 states with the exception of California and New York. Just can't write homeowners auto insurance in California. I don't understand why, but that's the rules right now. It's a moratorium. But life insurance, I can write life insurance in California. New York has its own insurance. If you if you move into Vegas for the very first time, welcome. And I just want to let you know our insurance rates for auto insurance probably be a little bit higher than you accustomed to, and that's our thing here in Vegas. So a lot of people think, for whatever reason, they think that auto insurance is a little less here than most states across the country. And when you see advertisement on television about you know rates saving you hundreds of dollars, that first of all they're talking about paying full. Okay, if you really want to save on your auto auto insurance, pay it in full for the term, for the six month term or the 12 year 12 month term, auto insurance is rated six months, 12 months. That's it. Now you could pay debit month to month or EFT or electronic funds transfers directly from your checking account or your debit card. Usually, when you use your debit card, the rate is a little higher. I just want to give you an idea. I mean, it's almost probably a difference of up to $5 more by paying your debit card or with a credit card. And when you pay month to month, versus paying in full, you'll be surprised the difference. There is a major difference. Now, if you're paying every six months in full, that's good. But if you're paying month to month every six months, compare the rates from annual or every six months to month to month. You'll be surprised at the significant savings. And now some people say, well, you know, I can't afford the pay it. You can do it on a zero interest credit card and pay it, you know, and pay it at your own pace. You know, some of these zero interest credit cards stretch out almost two years, and so that gives you a little wiggle room to pay your car insurance, and you can pay it at your own pace and get it paid. But you know, some of these credit cards are zero interest. I don't offer those, but I just try to encourage my clients if they can to save money on the car insurance, pay it in full. Now, in the state of Nevada, if you're just moving the state of Nevada, or you're listening to the program for the very first time, welcome to the show. Again, my name is Don Marquez. This is your insurance connection. I'm a licensed insurance broker, a licensed auto insurance, homeowners, renters insurance, boat, motorcycle, and life insurance. The bodily injury for the state of Nevada requirements are 25,000 per person, $50,000 each accident, and $25,000 property damage. Now, in the state, minimum is 20,000 property damage, but I always include an additional 5000 on there because you know the difference is is just not that much. For probably we're talking about less than $1 every six months. So I include 25,000 on the property damage. What is bodily injury liability? That is when you hit a person in a vehicle as a result of your fault, or passengers in your vehicle are injured as a result of a car accident that's your fault, they can file a claim that's not on the policy. That's not on the policy for bodily injuries. In other words, you bring in someone, you have passengers in a car. The state minimal coverage limits for bodily injury liability is $25,000 per person for for medical and 50,000 each accident. The max they'll payout is $50,000.
Donald Marquez 4:47
Now the $25,000 property damage that I spoke about a little earlier is to repair or replace property that you hit either a car or fence or gate, you know a garage door, whatever you hit as a result. Of your fault, up to $25,000 in coverage. Now, let's say it exceeds your limits of liability on your car insurance. This is when it gets a little dicey, and I say that because you know these attorneys will come after you for your maybe you if you all own a home, they want to know what is your you know homeowner coverages? I've been asked that question before, you know what what what are the limits on your homeowner's policy? They could go after you if you have you know any type of other you know income coming in, you know they could set to make arrangements for you to pay extra money every month because now your bodily injury is not enough because you're carrying the state limits, a liability for car insurance, and that injuries that you cause to others are much more than your limits of liability. Now, keep in mind the lawyers will try to settle the claim in your behalf. You know, the insurance company, the car insurance company that's representing you will try to settle the claim within your policy limits, but if it exceeds your policy limits, you know then they could tell you the courts could say, "Hey, you know what? You need to pay this much money per month until the debt is satisfied, and that happens. That I've seen it happen in 30 years of my career, I've seen it happen where people only have the minimum coverages, coverages on the auto insurance, and now they have to pay additional money every month to the courts to satisfy the the damage they cause to others. Now it doesn't really cost much more to bump it up to 50,000 per person, 100,000 each accident, and and $50,000 or $100,000 in property damage. I can give you a quote to compare rates, but to protect yourself. If you are if you are a business owner or a homeowner, you should not be carrying the state limits. You just shouldn't be because you have you're you're liable for damages caused to others, and you'll be surprised. People will sue you for everything these days if they get an opportunity to get you know injuries. Personal, you see these personal injuries attorney on on television all the time. You're watching a football game, sitting back, having a good time, and all of a sudden, all these we're getting bombarded by you know personal injury attorneys, and not only a car accident, but personal injury attorneys, you know that's this is how they make their money. Back in the day, they used to call them ambulance chasers. One time, I saw a commercial, and it was Glenn Lerner, and and he was running after and was doing a football football game. I think it was halftime, and it was a it was ambulance or a paramedic vehicle, and he was running behind it in the commercial. It was so funny, but you know, I think he was just making a joke out of it. You know, Ameland chaser, but he actually had a commercial on television. So you know, I'm not liable for what I'm saying, but it was a commercial on television where he was actually running behind a paramedic vehicle. It was quite hilarious, but you know, all jokes aside, it's very serious when someone is injured in a car accident. Now you cannot determine a person's injuries based on the accident when it occurred. Now you may say, "Oh, it was just a minor fender bender. You know, it could have been, but what if that person is a senior citizen? You know, would already back soft tissue injuries from just you know being a senior citizen, or just getting up in the morning, just working, and all of a sudden you've aggravated these person, this person's injuries, you know, or person's injuries in the vehicle. So you can't really determine, you know, their their medical injuries because you hit them. It was damage to your car. It was damage to the person car that you hit. But you know, again, don't try to determine their own personal injuries because you can't make that determination.
Donald Marquez 8:54
Now, if they are injured and you, or if you do have a car accident, you know, you know, give them your car, your ID card. You know, let them take a picture of your ID card, front and back. You know, they have your every right to file a claim against your policy. I tell my clients this as an insurance professional: if this, if it's not your fault in a car accident, and a person stops, give them, give them, they give you, excuse me, they give you their ID information, and you take take pictures of it with your phone. Take a picture of which with your phone front and back, and you know file a claim against their policy. That's my whole point. Over and over and over again, I tell my clients: do not file a claim against your own policy if you have the information from the person that hit you, file a claim against their policy, and the reason why is you don't pay your deductible. Now, when you pay your deductible, the people at the body shop they always want to know who's paying for this, you or the insurance company, because they take that deductible and they put it right in their pocket. Oh, you have $1,000 deductible. Okay, you know we're gonna charge a little extra there for that $1,000 deductible, and put that money right in our pocket. You know there are ways. My I tell my clients is there are ways not to pay a deductible, regardless if you have $1,000 deductible or not. I I suggest get two estimates on the damage to your car when the adjuster comes out, and this get the two estimates on your vehicle when you have to have repairs and the sure fault, or just get two estimates regardless of the accident. Who's at fault? Get two estimates when the adjuster comes out. Compare the you know the adjuster's rates to what you see your you know your rates and just make a comparison. If it's not enough, you know, show them. Hey, this is not enough because I went to two body shops and they say this is how much it costs to get my car repaired, and you're lowballing me. Now, a lot of times, pseudo adjusters will make that adjustment because they have other customers to see that day. They don't want to go back and forth with you. They really don't. They want to settle the claim as quickly as possible and move on. For more information, my name is Don Marquez. This is your insurance connection. My contact phone number is 702-236-2624 702-236-2624. My location Sahara Rancho, right on the corner Saharan Rancho. You can't miss it. A beautiful brown building has U.S. Bank at the top. I'm on the eighth floor. I work by appointment. 702-236-2624, My business hours, Monday through Friday from 10 a.m. to 5p.m. and on Saturdays only. On some Saturdays, I work via phone only. The office is closed on a Saturday. Again, 7022362624. I work by appointment only, and I want to thank the listeners that listen to KUNV. 91.5 Jazz and Moore came in and purchased Home and auto and life insurance. I have to say this: I had 10 appointments last week. Nine out of 10 of my appointments were all women. Nine out 10 appointments that I had last week, nine of them were women. Only one gentleman showed up, and we took care of his business. He bought life insurance. But how many out there, 55 and older, with no life insurance? I mean, yeah, okay. Maybe you say I have diabetes. Okay, I write people all day, every day with diabetes. Or if you have lupus, I write people with for life insurance that has lupus. I had a history of cancer. I write people with life insurance as long as you're stage one, stage two, and have more than 12 months to live. Even stage three, and you have more than 12 months to live. I wrote a gentleman about a month ago, stage four, but he said I've been living for the last three years with stage four cancer. Okay, I wrote him a policy. I wrote him $25,000 of coverage, stage four cancer. He was happy to get it. He was happy to get it. I said, "You have to live two years.
Donald Marquez 13:10
In that situation, you know there is a two-year wait period. the The policies that I write, for the majority of policies I write, there's no wait period. Now, there's always a concern about the life insurance companies. They want to make sure there's no concealment, and you know, and like for instance, if you just find out, you know, you oh, I'm dying of cancer. I have cancer, and then you know you want to get life insurance. The insurance companies, the life insurance companies have every right to do a look back to make sure you know that there's no there was no concealment. What what do I mean by concealment? In other words, if you find out you had cancer now, you want to get a life insurance policy now, and just maybe we just don't see it because I don't I have life insurance policies. There's no physical, and I'm writing more policies now without physicals. I found out in the past physicals would would slow the whole process down. We're waiting on the doctor medical reports. They don't like to send the medical reports in. It's just a it was a dragged out experience. It took too long. Now I can write up to $450,000 in life life insurance, without a physical, whether it's term, universal life, whole life is up to $50,000. There is a difference. There is a difference. I talked to a young lady, and she said I wanted. She was comparing rates, and and and I'm gonna share this with you. So she wanted to get a life insurance policy on her son, and she said, "My son, I need to get life insurance policy on him. I lost one son. I didn't have life insurance, and I want life insurance on my 29-year-old son. I said, "No problem. Now I gave her a quote. Next day, you know, we I just gave her a quote. Two days later, she calls me and says. Well, I found a lower rate because I quoted her whole life insurance, right? I quoted her whole life insurance, and now she calls another company. They give her a quote. They tell her, "Okay, we we can give your son insurance, but it was a 10-year term policy. 10 years go by in the blink of an eye. Of course, the rates are going to be low because term is the lowest cost insurance you can purchase. Now, once we start, you know, comparing, you know, their quote against my quote, and I told her I could offer you a 10-year term policy just as well, but that's not what you're really looking for. You're looking for final expense. You want you're looking for a burial policy, just in case something happens to your son, you can bury him and don't worry about you know the payment changing or the term of the policy running out. Term was for 10 years they quoted her. I quoted her a whole life policy to age 100. Rates and benefits are locked in for the life of the policy. When she found out the difference between whole life and term, she said, "No, I want the whole life policy, and the benefits were the policies rates are locked in. The rates and benefits are locked in. In other words, the face amount will not reduce, right? The face amount won't reduce, and the policy bills cash value on a term life insurance, regardless of 10 years, 15, or 20, a 30-year term policy. There is no cash value. In other words, there is no bank in the policy that builds cash value money that you can borrow against in the case of emergency. For more information, my name is Don Marquez. This is your insurance connection: 702-236-2624 702-236-2624. Now, race between men and women are a little different. Now, according to statistics, women outlive men. Yeah, statistics tell us women outlive men, and and if just think about it, you know, your your grandmother might outlived your grandfather by 1520, years. I mean, it just depends how young was grandmother when you know your grandfather married her, or if they're the same age or close to the same age.
Donald Marquez 17:14
Women outlive men, so women life insurance rates are a little bit lower than men, even with car insurance, believe it or not, I find when I rate women, the car insurance rates just a little lower than a man's car insurance rates. That's where when husband and wife, I usually put the wife on first, as long as she don't have to have a lot of tickets or accident claims and or speeding tickets. I'll I'll put the wife's name first, and then the husband' name second. You know, but every circumstance is a little different when it comes to auto insurance. But we're talking about life insurance. the The rates for women are lower than the rates for men on life insurance. Now, not to say that men should not get life insurance. You should, but the earlier you get it, the lower your rate will be now. There's no good reason, regardless of your sex or age, to wait to get life insurance. There's not a good reason to wait because the older you get, and you do decide to buy a purchase or policy, you know the rates and benefits are according to your age, rates or rates are rated by your current age. Once you do sign up, the policies that I offer, rates and benefits, are locked in for the life of the policy. They don't. You don't get a letter in the mail said, "Okay, mr. and mrs. Insured Person, your your life insurance is going up, or your life insurance is going to be reduced. Now, I've been asked, "What is mortgage insurance? Mortgage protection insurance. It is a life insurance policy. When you purchase a home, or if you're a homeowner, sometimes you receive this information in the mail, saying that okay, mortgage insurance, mortgage protection insurance means that it's a term life insurance policy attached to your to you when so when you pass the home will be paid off. The problem with that policy is this, you know, it's a decreasing term life insurance policy. It goes down when your mortgage goes down. Now once your mortgage zeroes out, so does the policy. Depending, and everyone is different. Now, if you want a term life insurance policy, I'm gonna offer a term life insurance policy up to 30 years. Now, the 30 years are cut off. Now, if so, if you're 58 and under a non-smoker, you can get 30 years. If you're 59, you cannot get 30 years, but if you're 58 and younger, you can get a 30-year term life insurance policy. If you're 59 or 60 or 70 and up, you know then the term is short, maybe no more than 15 to 20 years. Just keep that in mind. Again, if you're 58, a non-smoker, male or female. Can get up to 30 years, and if you're gonna buy a term, get as the maximum years you can get, unless you have a plan. Well, I'll have my truck paid off, and in less than 10 years, and I'll get a 10-year term policy for now, and I can convert it when my truck is paid off, because now I have extra money to convert the life insurance policy. Every everyone is different. What your neighbor has doesn't really concern you. It really doesn't, because I have people. Oh, you know, my neighbor pays this, and my my neighbor, your neighbor is not an expert, unless they're insurance agent, of course, or unless I'm your neighbor, right? So if my neighbors are listening, and and I've talked to my neighbors, so they know you know what I know, for to a point. But your neighbors are not your experts, so I've had people say, "Well, you know, my neighbors only pay this much money for car insurance, you know, or my neighbors only pay this much money for life insurance. What does that have to do with you? You know, you're not your neighbor. Your neighbor's not you, and and all and sometimes your neighbor may be giving you a little fluff. It may be not that what they're really telling you that this is what they pay and and why they pay what they pay. Maybe they have the minimums on their car insurance, or maybe they have accidental only on life insurance. And don't ever buy accidental only life insurance.
Donald Marquez 21:17
I cannot stress enough that policy is really no good if you pass away of natural causes. Very few people die of an accident, and if you're if you're thinking about a car accident, a lot of those accidental only policies are excluded when it comes to a fatality from a car accident, and you really have to die at at the scene of the accident, not picked up going to the hospital because now you didn't die at the accident. You died after the accident. You died as a result of the accident, but you didn't die at the accident. You see how that works? So you may get turned down. So don't think, well, you know, I'll get an accidental only policy, just in case I die in a car accident. Who wants to die in a car accident? You can't determine your last days on this planet, but ew, you know, a fatality in a car accident that could be bad. I can offer you a real life insurance policy, make it real simple, very easy to pay for, a monthly draft directly out of your checking account. You can can select the due date between the first and the 28th of each month. You can select the due date. A lot of people like the first; they like the 15th or the third Wednesday of the month because that's when a social security check comes in. We can make it happen for you. Now, let's say down the line you change banks, you have to let your insurance company know that you change bank accounts, or if you using a debit card or credit card to pay your insurance payments, let your insurance company know your debit card or your credit card has changed. We will not know unless you pick up the phone and contact us. Now, when you get to receive the email or the letter saying your policy has expired, or your life insurance policy has lapsed because three months have gone by, right? And now your policy is in jeopardy of lapsing, or your car insurance. If you use a debit card every month to pay your car insurance and it's on file, now we're talking about policies with debit cards and credit cards, that a credit card or debit card is on file, and all of a sudden now you get receive a new debit card in the mail, and you assume the insurance companies know this information that your debit card has changed. We don't know. We don't know. You have to pick up the phone and call the number the insurance company and let them know your debit card has changed, and that way there's no lapse in coverage, regardless if if it's your life insurance or your auto insurance or even your bills that you pay. Just keep that in mind. Well, you know the companies won't know, and that's good news because I rather you I rather you pull them. And I set up all my clients. I would say 99% of my clients are set up on EFT through your checking account. The draft comes directly out of your checking account for your life insurance premium, for your auto insurance premium. Now you can't select a due date with auto insurance policy, but if you do have little struggles paying your auto insurance, you can call either your agent or you know, or if I'm your agent, you know, you can contact directly the company and see if they can work, do a work around your paydays, so you can pay your auto insurance. Now, auto insurance gives you a little flexibility. There's a little flexibility there to make the payment. Now, it may not be your due date, but it's your payment due date. There is a difference with life insurance, you can select between the first and the 28th each month. And for whatever reason, if your your money changes or the way you receive your money changes, in other words, you are working, you're receiving in your paychecks biweekly, and now you're retired and you only get one check. Month, you can always pick up the phone, call your life insurance company, and ask them to change the due date. That's the simple form they'll have you fill out. They can email it to you, print it, fill it out, and change your due date.
Donald Marquez 25:11
That's very simple, very easy, directly out of your checking account or whatever. You know, most life insurance companies don't want to take a debit or credit card. I can also add a child rider option on your life insurance policy, as long as the children are 17 years or younger, we can add we can add coverage on them. There's no physical for you, no physical for the children, and when they turn 25 years old, they'll spin off on their own with their own life insurance. Don't ever think you don't qualify. Again, if you have, you know, significant health conditions, and you know you you're like, well, I don't know, guys. I had a heart condition, or a heart attack, or had heart surgery, or I have congestive heart failure, and it may not be able to get life insurance. That's not true, right? Disease of the circulatory system. You know, you might think I can't get life insurance. You can, or let's say if you've had a history of cancer, yes, you can get a life insurance policy. People that smoke have COPD, and you know they feel like, well, I smoke, the rates are going to be higher. I have COPD or I have emphysema. I can't get a life insurance. You're telling yourself what you can do. Let me tell you what you can do. My name is Don Marquez. This is your insurance connection 702-236-2624. Even if you had an organ transplant, let's talk about getting your life insurance. You know, there's there's nothing hard what I do. It's you know everyone is different. You can't again if you're a smoker. I have a program, and I've said this before on this program. We have a program. We'll rate you as a non-smoker for the first 36 months on a whole life insurance policy. I've never seen anything like it in 30 years in the insurance business. Born and raised in Las Vegas, Nevada, I've never seen 30 years like insurance agent, life insurance agent, auto insurance agent. I've never seen a company will allow a smoker 36 months to be rated as a non-smoker up to $50,000 in coverage, right now you you get a non-smoker's rate for the first 36 months. After the 36 months, you will be tested to see if you're still a smoker. Now, if you continue to smoke cigarettes, the facing amount of the policy could be reduced if you want it to be, to to keep your payments the same, or you just said, well, I like smoking. What my new payment is, and you'll be okay with that. Now, if you stop smoking, which is great, it's good on your health. You have to be tobacco free for 12 months. No tobacco for 12 months. So, look at like this. You can smoke for 24 months, but that last 12 months, you can't smoke anymore. You have to stop smoking. I'm here to help you. My name is Don Marquez. 702-236-2624 702-236-2624. Located right on the corner of Sahara Rancho. I work by appointment only in the U.S. Bank Center, eighth floor, Monday through Friday from 10 a.m. to 5 p.m. and on Saturdays I do work via phone only 702-236-2624. Hey, it's warm outside. We're in August. Let's get this over with another six weeks of this heat, and we're starting to cool down a little bit right here in Vegas. We'll do this again next week. Everybody, be safe. Stay cool.
Transcribed by https://otter.ai