YOUR INSURANCE CONNECTION

Wesley Knight 0:00
This is a KU NB studios original program. 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 0:22
You 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 you.

Good morning. My name is Don Marquez. This is your insurance connection. Broadcasting from KU NV, 91.5 jazz and more. Early Sunday morning, from 8am to 830 Welcome to my talk show. I'm a licensed insurance broker right here in the state of Nevada, California. And I love doing what I do. I love to meet my clients face to face and talk about their current insurance concerns. I know in the state of Nevada, we all experiencing, you know, high auto insurance rates. I understand that. You know, we can always talk about it. See, we can find you something a little lower. But you know, I don't want to compromise coverages for offering a lower price when you are shopping for insurance. The way insurance agents can adjust the price on your auto insurance policy is reduced down the face amount of the coverages, in other words, your bodily injury of you carrying the 100 300 right now as a liability protection on your bodily injury, on your auto insurance policy, then they can reduce it down to 50 $150,000 per person, 100,000 each accident, $50,000 property damage. Now, what does that do for you? It lowers your liability, but it also puts the agent in a, you know, a position if you're an at fault accident. And you know, these lawyers, they dig, they dig very deep, and that they found out the person that hit their client had higher limits of liability, and all of a sudden changed the liability within the last few months. It's going to be questionable Well, you know, and about the integrity of the insurance agent. Why did you do that? And I don't understand people. I do understand people on tight budgets, but you don't want to compromise your liability coverages. I've seen where people pull people over side of the road, help them out, or, you know, just help them out because they are in distressed and the people turn around and sue them, yeah, on the lake. People get helped on the lake, and something happens. They are injured for whatever the reason. They're trying to rescue someone that's on the lake. They're injured, and they get sued. The people that's trying to be a good Samaritan, right? Will turn around and get sued by being a good Samaritan. People will file a claim against your life insurance, I mean your auto insurance, or your homeowners insurance, or your boat insurance, especially the home and, you know, if you have guests at your house and they have a little bit too much to drink and they go out and get in a car accident, they can say, well, you know, I was at Bob's house and Bob gave me a little bit too much alcohol and I got in my car and I had a car accident. You know you could be liable because you gave Bob alcohol. So these are things you can News You Can Use. I'm a licensed insurance agent again. My name is Don Marquez, broadcasting at KU nv 91.5 jazz and more every Sunday morning, from 8am to 830 I would love to meet you and talk to you about your insurance concerns, your auto, your home, your life, your boat, motorcycle. Landlords policy, and if you are a renter, get yourself some renters insurance. I encourage renters to understand your landlord is not responsible for your personal property. If you if there's a fire or damage, your landlord is absolutely not on the hook or a theft for your personal property, you must understand, or if you cause damage to the landlord's property, in other words, you created a fire, or you created some type of hazard situation and your landlord's home. You know your landlord has the right to come after you personally, whether you have renters insurance or not, it's better to have it and not need it and then needed and not have it. These are wise words

that I, that I, I picked up from Richard Pryor. Actually,

he, but he, he was doing a comedy stand, and he, he mentioned, it's better to have it and not needed. And it needed and not have it. And that makes a lot of sense to me, and it definitely applies to insurance daily. People file claims daily against insurance companies. Get a wreck, get a check. You've all heard the slogan, and not only one company, multiple companies, you know they face the fact that, you know, a lot of claims are being filed in the state of Nevada. People are texting, driving, not paying attention. Creating these rear end car collisions would cause. Is all our rates that go up. Now you do have a choice to get an attorney or not get an attorney, and every scenario is a little different. I would suggest you consult with your insurance company first before you seek an attorney. The attorney doesn't make any money getting your car repaired. That's not on there, you know, list of doing business. Now they may tell you where you can go to get it done, but that doesn't put any money in the attorney's pocket. What makes the attorney a whole or, you know, what satisfies the attorneys fees, because they don't charge you for fees, is when you get a settlement. Now, when you receive your settlement, you're giving that attorney 40% of your settlement, you know. Let's think about that for a minute. Let's think about that for one minute here. So if you get $100,000 settlement because you're injured, you know, and a person had decent coverages on 100,000 per person, 300,000 each accident. They hit you in a car accident. So the attorney gets 40,000 right, 40% let's say that 40% now that's $40,000 your doctor bills is going to run you. Let's say they can get it reduced down. Let's say 30,000 so that's $70,000 now your your settlement is around $30,000 who made the money? So when they say, get a wreck, get a check, who's really getting the check? You got to think about this. Now, does that help you any at all with your settlement with a lawyer, without a lawyer, because you can file a claim and talk to the insurance companies direct with the claim representative. That's why we have claim representatives, and they can take you through the process step by step. You have to go just you're the one going to the doctor, you're the one going to physical therapy, you're the one going back and forth to the doctor and physical therapy to get a settlement. You know, you're the one injured, and then your car to get it repaired or fixed. You're taking it. So what does a lawyer? Lawyer really do? Only thing a lawyer really does is litigate a claim in your behalf. You can do that yourself, or you could do it with your insurance agent. I've done it many times with my clients. Now it is absolutely up to you, but this is one of, one of the main reasons why a lot of insurance companies, auto insurance company carriers, especially, are leaving Southern Nevada and leaving the state of Nevada in whole, because they can't make any money. They can't make any money, and now, unfortunately, we're faced with a little monopoly going on right now. That's how I see it, as an insurance professional. Now, what companies are left here in the state of Nevada, they can compete with rates that, you know, and it's okay, if the farm is charging this, we could charge that. So it's almost competitive. It's almost match competitive prices. So you're buying service, you're buying a service, you're buying an agent. But everybody's facing these hard car insurance rates. So I say, I say it again, pay attention. Slow down. Slow down. Please. Slow down. You know, I see people speeding all the time, and if you get in an accident, I've heard people come to me and say, Well, you know, I've been driving for a long, long time. I've never gotten a car accident. Why my rates going up? You know, not. I've been doing this for the last 29 years, going on 30 years, next year. Knock on wood. I'm still here, and I love what I do, but I've seen a lot of you know, in my many, many years of service of people, you know, you put this on yourselves. And people ask me, which is odd question at times, but I get this question, well, you know, what makes your rates better than everybody else's? It's not up and make my companies better than everyone else. It's it's all on you as a person. And I had to explain to a client last week, it's all on you, the cars you drive, right? Your driving history, your age, the zip code you live in. These are rating factors. When car insurance companies look at you and try to understand, okay, you're, you're in, is this this zip code? You're, you're, this is your age, this is your driving history, and the car you drive, all that goes into evaluating you, how much the insurance company is going to charge you for your rates. That's what happens. That happens every day. And you know, if I had people who say to me, Well, you know, my neighbor only pays well, your neighbor is not an insurance agent, and you're not your neighbor. Now your neighbor could be having he could, they could have lower limits of liability. So when you when you tell me, your neighbor pays less than you do, or your your your relative pays less than you do, that's not a fair comparison. It's really not because your relatives or your your neighbors or your friends could have minimum coverages in the state of Nevada that pays less now you could be more responsible by having higher limits of liability, because I wanted to protect me. I've been sued a couple of times. You know, I've been in an accident, so I was on an accident that was my fault, and I was sued $100,000 No, it was really 300,000 fortunately, I had the insurance on my cop on my car insurance. Is that covered it? Yeah, it was pretty bad accident. The ladies had to go to the paramedics, you know, the paramedics. I made a turn with all the signage that got confused, made a left hand turn, and bam, you know, we was in a head on collision. You know, it was bad. My car was total. Their car was total. I thought my car was actually repairable, because I'm like, okay, they hit me on a passenger side and we collided together. But you know, No one wakes up and say, I'm gonna have a car accident today, or No one wakes up and says, I'm not having a car accident today. And I've talked to individuals over the many, many years of service, and they said, Well, you know, I've never been in a car accident. I never will have a car accident. I don't know how you can project that. Please let me know, and I'll pass that valuable information on to the insurance companies to say, you live in this bubble and you never, ever have car accidents. Now, again, I didn't wake up that day going downtown thinking I was going to have a problem with the signage and everything. It was very confusing. It's at night, and I made a left turn, but I should have kept straight and had an accident. I did not see the car coming, because it was behind the bus, where people wait for the bus, and it was just, it was bad. However, you know, I got through it. Fortunately, I had the insurance to cover. You know, my accident, my fault accident, I am not perfect, and neither are you. That one of the main things you have to understand when you're in a car accident, you know what happens is if you have enough coverage to cover the damages that you caused. Now, if you have minimum coverages, you could open yourself up for for a lawsuit. Now, in most cases, companies will protect the the person that's filing the claim against you by having them sign a waiver saying they won't come after you for for damages. But let's say they don't sign that waiver. So No, no, my damages exceeds the policy limits, and I'm now I'm paying for this, and why should I have to pay for this? I've seen in my career over the many years, where people didn't have enough car insurance coverages, and they were sued in court because because they did not sign the waiver, and they have a right not to sign that waiver. Of course, if you do have legal representation, they're going to encourage you to sign it so everybody gets paid. But you know, it's your choice. My name is Don Marquez for more information. My contact phone number is 70223626247022362624,

I have competitive rates. I would love to talk to you about your homeowners insurance, your auto insurance, boat, motorcycle, you know, life insurance. We all need life insurance. Yes, we do. We all need life insurance. And then, you know, even in me as an insurance professional, I received the junk mail in the mail. You know, they send me this information in the mail. And most policies that come in the mail, it's going to be a term or accidental. They never, they never offer you this junk mail with universal life insurance policies. In other words, that's a permanent policy because they say you don't take a physical, right? You don't have to take a physical. This is the worst way to buy life insurance. You have no, absolutely no representation. You you you doing this blindly. You are. You really are, because insurance companies will not have insurance agents if they think, okay, we can just mail everything out, let them fill it out and send it in. That'll eliminate all insurance agents. But see what happens is, you find out as you age, and then you know now your family needs, need the coverage to protect to take care of your filing expenses. And they come to find out, Wow, dad paid for an accidental only policy all these years. He you know, he said everything was covered, but he never shared the information with us. Because when you said, Hey Dad, let's sit down and talk about what type of coverages you have, he's, oh, no, don't worry about it. I already got it taken care of. You guys are gonna be fine. You know, if something happens to me, I don't like that word if, let's stop saying if something happens to me, let's just stop saying that when it comes, it's gonna come, and it comes for all of us. We all gotta. We all have a date and time. We don't know when that date and time it is, but if we did, it will make my career a lot easier to offer you life insurance. Oh, you know, I got 10 years left. I got to call Don Marquez and give me some life insurance. 702-236-2624,

702-236-2624, my office location is on the corner Sahara Rancho in the US bank center located on the eighth floor. My business hours are Monday through Friday, from 10am to 5pm I do a lot over the phone, 702-236-2624, I work by appointment, appointment only. I know some of you have showed up in my office, and I have other appointments. Minutes I'm on and I just can't talk to you at that time, but I rather you call me or text me and we can set up an appointment over the phone. I only work by appointment. 702-236-2624, so Howard Rancho is right in the heart of our beautiful city, across the street from the palisation Hotel, tall, beautiful barn, brown building with us, bank at the top. I'm on the eighth floor again. I work by appointment Monday through Friday, from 10am to 5pm I don't have access to the building anymore on Saturdays, but you know, we could still do a lot over the phone. Again, 702-236-2624, if you have a loved one that need life insurance, or you need life insurance for yourself, and you're just a little hesitant because you've been turned down once before. And people that get turned down maybe because they had a past history that got them turned down. They had a history of cancer or living liver disease, COPD, you know, heart disease. Don't give up. I can find a policy for you. I can, I really can, affordable rates, benefits and and premiums are locked in for the life of the policy. In other words, your rates won't adjust. It is a whole life policy that builds cash value. Now let's talk about cash value a little bit, because people get get a misunderstanding on what they can do with that cash value. It is there for your protection. In other words, if you you know, if you have your policy for the last 10 years, and you build accumulated a nice asset, what we call cash value, you can borrow money against your life insurance policy. Is borrowing money against a life insurance policy a good thing or a bad thing. I've had that question asked many, many times. Understand this, you do have the option to pay the money back that you pull from your cash asset on your life insurance policy? If you don't pay it back, then what happens now the money borrow, let's say you check out $3,000 from your policy, because you know you need air conditioning unit. When your car broke down, things do come up. So you take out the $3,000 and you still have money remaining in your asset and your cash value asset. You take out the 3000 you don't pay any money on the $3,000 money borrowed against your life insurance policy. Now, if it's a small policy is really going to affect your loved ones when they need that money, at that time of need, when they have to, you know, take care of your filing expenses. But if it's a larger policy, you know, maybe the impact is not as bad. However, this is what happens, that $3,000 borrowed, as an example, will accumulate an interest rate, 789, percent annual interest rate. Now what that does is it compounds interest on top of the money borrowed over time. Now if you have a small policy, let's say your policy is on $25,000 face amount. You borrowed $3,000 you've reduced the face amount down to $22,000 automatically, you haven't paid any money back, and it's been 14 years since you've taken out this four this policy, and I've seen this happen now, 14 years go by with a 9% or 8% interest rate on that policy. Every seven years that policy, that money borrowed from the policy, could double. Now you borrowed 3007 years go by now that 3000 is 6006 1000 becomes 12,000 in 1415, years, and you haven't paid any money back. This is why it's very important to read your statement and your annual statement, or you know or contact your insurance agents. Hey, I need an insurance review. This is what I do. I don't charge any any money for insurance reviews. I will go over your insurance policy for you to let you know exactly where you are. But if you borrow 3000 almost 15 years of pass by, you haven't paid any money back that fit that $3,000 could be 12,000 with the interest. Now your $25,000 policy is only worth 13 you know. So it's accumulated to 12,000 now it's only worth 13,000 and and every day, every day, people need money for the to bury their loved ones, and they find out this harsh reality that, you know, my parents took out, or my grandparents took out money from their policy. They never paid it back on and when I'm talking about it really affects the smaller policies. Now, if you have a large policy, for an example, $100,000 and you've you borrowed $3,000 and you accumulated interest. On top of this $3,000 to 12,000 well, your settlement is going to be $88,000 you still have a lot of wiggle room there. But the smaller policies that are impacted when people borrow $1,000 and they don't have a $10,000 life insurance policy, you know that money could double if you don't pay any money back. What you need to do is make arrangements with your life insurance company to pay money back toward the money borrowed toward the money borrowed. Now I've heard people my policy lapse. I've never borrowed any money from my life insurance policy, you know. But what happens is you bought a policy, what we call a. Flexible premium. Now you've only paid the minimum requirement on this policy, right? So they what they do the insurance companies do. They take the value from your policy, the cash value from your policy, and make the difference what you should be paying. For an example, you have $100,000 face of mouth policy you purchase, you purchase this policy with a flexible premium. The flexible premium means you can adjust how much you pay every month. You can now, you haven't borrowed any money from the policy. But again, your flexible premium is you have $100,000 face amount. You're paying the minimum flexible premium every month, and you haven't changed it, and you've had your policy for over some time, less than maybe even 20 years. But now, all of a sudden, you get this notice in the mail. You know you haven't been paying enough on your life insurance policy, and now your life insurance policy is going to cancel by a certain date because they have exhausted all the money in the cash value to keep your policy going. Again, as an example, you have $100,000 face amount you only paying, let's say less than $100 a month, and you should be paying a little bit more than that according to your age, because you bought a flexible premium. Now this is why it's important to have an insurance agent that fully, like myself, that's going to fully tell you what this type of policy is. I don't believe in offering flexible premium life insurance policies, because I know as you age, and you know your budget gets tighter as you age, right? We all live on a fixed income, but what happens is, you're paying the minimum you should be paying. Instead of paying less than 90, less than $100 a month, maybe you should be paying a little bit more than that, maybe $150 a month. When, that policy actually started. Now, the insurance companies see that you have an accumulated cash value, they're going to pull an additional $50 each month from your policy to make up the difference which you should be paying over time. You know, a lot of people don't understand this with a flexible premium policy, because the rate sounds so good initially, but in the long run. You know that rate goes up after certain ages. It goes up and up and up. We're at a point where I can't, I can't I can't afford this policy anymore. There is a way to fix that, and it's called when I contact your company and talk to them about this flexible premium. I asked them for an illustration. I said, Give me an illustration that'll show me how much my client should be paying over, over the length of the policy, what they really should be paying. So we can say, Okay, you took this policy out when you're 50. Now you're 70, and you know, you're still young enough to to still pay onto the policy. But now the policy has has doubled, almost tripled over time. What I can do on an insurance review for you no obligation, and just make sure that policy is a fixed rate. Policy premiums are fixed to age 9095, or 100 this is how it's done. Don't just cancel your policy without reviewing your options. If you have a term life insurance policy, you know that could be your permanent policy for the rest of your life. Before age 70, you can convert Term Life Insurance into Universal Life or whole life. Now, if you can't afford the rate, you can always reduce down the face amount of the life insurance policy to something you can't afford. My name is Don Marquez for more information. 702-236-2624, 702-236-2624, life insurance is something we all need. If you can pay for car insurance, you should have a life insurance policy. I mean, really, if you have car insurance, what is more available you or the car and I know you need car insurance because it is a state requirement. It's law to drive a car. But I think it's also just important to have life insurance to protect your family's assets, to protect your final expenses. With the funeral cost going up as much as it is today, call the mortuary and ask them how much they charge for a funeral today, it will blow your mind, it will blow your mind, 15 to $20,000

and let me say to my veterans out there, because I'm a veteran, don't think the VA is going to pay for your funeral. Now they will pay for your plot out at Boulder City, the plot, the headstone, opening, closing, even the container. That's a huge saving of close to $8,000 really, that's a big saving. So if you have a loved one that you know you need, you need to take care of their final expenses, or you may have to take care of their final expenses in the future, you can contact the Boulder City Cemetery and make arrangements now, now tonight, the one of the benefits of being a veteran, you can you and your loved one can be stacked on top of each other, or even side by side. I've seen that happen too. That is a large savings with many, many families. Now, when people come to me say, oh, you know, my dad's a veteran. He didn't worry about it. We're not worried about because he's the veteran. But if he don't have any veterans life insurance, right, the benefit is on and if he is honorable, honorable. Discharge. Let's, let's put that in there too, because your parent needs an honorable discharge, and you're going to need what we call the DD 214 DD 214 to to access benefits, to bury your loved one. Now it may be other ways around that, but you know, it is better to get that DD 214, now, while your loved one is still alive, so you you know you have everything you need in place. If your loved one does not have a life insurance policy, we can make them very easily, very easy for you. You can select the due date between the first and the 28th of each month to make your life insurance payments. You can do a monthly draft, an annual draft, a semi annual draft, and also we offer quarterly drafts directly out of your checking account. We don't want a debit card, credit card, because debit cards and credit cards do expire. We want a car. We want your checking account information, and I don't want to share it. Share your information with anyone. I represent 60 life insurance companies, well known companies, I can find a policy that will fit in your budget. And the final expense is something we all need. We're all going to have a final expense one day and when, when you when the reality hits, you know you have your home, you have your cars, you have your credit cards, and in most cases, some of these bills still have to be paid if you leave, if you leave a loved one behind, a spouse, children. What about your children? You have young children, no life insurance. Now, you say to yourself, Well, my job pays three times my life insurance policy. First of all, it's gonna take about six months to collect that policy from your job. They make it very difficult for you to get that money from your job. You know some of these jobs, if you you know it has to be job related, or you have to be on a job for it to pay it is so many moving parts with that, because there's a benefit. But three times your salary may not be enough to cover it with a very young family. Think about if you only making $50,000 a year. Three times your salary is only $150,000 now you have three young children to take care of. That's under the age of 10. I can write a life insurance policy from day one to up to 85 years young. My name is Don Marquez. This is your insurance connection. 702-236-2624, 702-236-2624, my location is on the corner Sahara and Rancho in the US bank center, eight floor. I work by appointment. Business hours are Monday through Friday, from 10am to 5pm again, 702-236-2624, for an appointment, and then we can do a lot of business also over the phone. I do have an associate that works with me. Her name is Dorsey. If she needs to come out and see you, or you can set appointment with her again. 702-236-2624, this is your insurance connection. Broadcasting from K, U, N, V, 91.5, jazz and more every Sunday morning, from 8am to 830 we'll do this again next week. Hey, y'all stay cool out there, because Vegas is starting to heat up, until then, just keep it crispy. Thank you for listening. You.