YOUR INSURANCE CONNECTION

Announcer
0:00:00
This is a KUNV Studios original program.

Wesley Knight
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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 & More, the University of Nevada Las Vegas, or the Board of Regents of the Nevada System of Higher Education.

Donald Marquez
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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.

Donald Marquez
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Welcome to the show.

Donald Marquez
0:00:46
Good morning, my name is Donald Marquez. is your insurance connection broadcasting right here at KUNV 91.5 Jazz and More every Sunday morning from 8 a.m to 8 30. Welcome, welcome, welcome. It's good to be in the studio. A couple last week, a couple of weeks ago, I had a terrible virus. I had the flu and the COVID, but I'm back in action now and my head is all cleared up. It's good to breathe again. But if you have symptoms, please go in and get yourself checked out because it wasn't

Donald Marquez
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fun and my body felt weak and just not motivated to do a whole lot. But I'm here in the studio and giving you valuable information about your insurance. I'm a licensed insurance broker in the state of Nevada and California offering you insurance, life insurance, home and auto insurance. Here's some tips that I want to share with you.

Announcer
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Questions that I get asked.

Donald Marquez
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Will I need a medical exam to apply for a life insurance policy? That's a yes or no question because some insurance companies do require a medical exam. However, if you buy a whole life policy up to $35,000 in coverage. There is no medical exam. Now answering the health questions, sometimes you people have to understand if you have a

Donald Marquez
0:02:12
reckless driving history, it could hinder you from getting a life insurance policy or underlying health conditions, diabetes, lupus, cancer, you know, these could be these could hinder you from getting a life insurance policy. However as an insurance broker I Can find a policy for you that will fit in your budget Other questions that I get can I purchase life insurance for someone else? Yes, you can as long as there's a financial connection. It's called Insurability interest as long as you can provide me with insurable interest.

Donald Marquez
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Like for instance, you can't, you know your next door neighbor is getting older and you can't say to yourself, you know my next door neighbor, he's well in his 80s, I need to get him a life insurance policy. Well, there may not be an insurable interest with you purchasing life insurance policy to cash out. It doesn't work that way. I'm in a fiduciary position of trust and I trust that the information you provide to me is in the best interest for yourself and also your family. Whether they're related to you or not, you can purchase a life insurance policy. Two things you need to know. Approve insurability. If you suffer

Donald Marquez
0:03:46
financially losing a friend or a loved one, there's a connection because you may be on credit card bills together. You may have medical expenses you may have to pay, especially when it comes to a husband and wife. If you have credit cards, please get those credit cards in your name only. Use your family members as authorized users only on a credit card because it could be some expenses if when you pass and there's still a credit card debt. My name is Donald Marquez. This is your insurance connection.

Donald Marquez
0:04:21
702-236-2624 702-236-2624 Another question I get quite often is how much life insurance do I need? Depending on your assets, what do you want to cover? Do you want to cover the mortgage? Do you want to cover your credit card debt? Any financial obligations?

Donald Marquez
0:04:46
Car expenses? Even living expenses. And this is the key right here. You must qualify for the life insurance policy. I represent 60 life insurance companies. I can find a policy that would fit in your budget and also fit in your needs. Now the life insurance policy is based on you. Not so much me. The life insurance policy is you get qualified based on your health, based on your age, whether you're a smoker

Donald Marquez
0:05:17
or non-smoker. And I'm not trying to deter you from getting life insurance. We all need life insurance. For instance, I just recently, you know, for the last couple of weeks, I've had calls where I've written life insurance policies for clients over the many years of being in business, 28 years.

Donald Marquez
0:05:36
I received notice from the life insurance company that there's been a claim filed. What I do, I pick up the phone. I contact the beneficiary. My client that I wrote the policy, and I contact the beneficiary because fortunately the companies I represent contacts me and let me know what the phone number is of the beneficiary. And this is an important step. When there is a claim filed, there's a loss of life, a claim filed to receive the life insurance benefits, contacting the beneficiary, letting the beneficiary know what their options are. That's very important, what I do. I let the

Donald Marquez
0:06:19
beneficiary know in some policies you can get up to 80% of the face amount of the policy without the death certificate. Now this could happen whether they're living or not. Depends on, now if they have less than 12 months to live, if they have less than 12 months to live, you can accelerate the death benefit whether it's term, universal life, or even whole life. Now if they have passed,

Donald Marquez
0:06:46
and I'm informed immediately, then we can go to work to find out how can we get funds to you as quickly as possible without the deficit certificate. For more information my contact phone number is 702-236-2624 702-236-2624 located right on the corner of Sahara Rancho in the US Bank Center located on the 8th floor. My business hours are Monday through Friday from 10 a.m. to 5 p.m. and some Saturdays I will work by appointment. I work by appointment throughout the week because I want to make sure I give

Donald Marquez
0:07:25
you the time that you need so we can go over all your insurances. Keep in mind listeners I do not charge for insurance reviews. There's no obligation for an insurance review. You bring in all your policies, your home, your auto, your life, and I'll review your policies with you. There's no obligation. You do have to bring in your policies.

Donald Marquez
0:07:47
I cannot pull them up online. I know with computers, we have so much access today. But fortunately, the insurance companies make it very difficult for me to pull up your personal information when it comes to your auto insurance, your homeowner's insurance,

Donald Marquez
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and your life insurance. I can't find any information on life insurance. A little bit of information on home and auto, but no information on life insurance. Now, some of you have experienced your life insurance policies going up, because you have what we call a flexible premium, and as you age, your policy goes up. We're talking about the universal life insurance product. It does go up, but we can make adjustments by doing an insurance review,

Donald Marquez
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sitting down and having an insurance review,

Announcer
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going over your options

Donald Marquez
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with your current life insurance company. Now, as you age, the life insurance companies will pull money from your cash value asset to make up the difference in the target premium you should be paying each month. For an example, if you're paying right at $100 a month,

Donald Marquez
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all right, but you're getting up in age, you're in your 70s, you should be paying $225 a month, but you're only paying $100 a month. So the difference, they're going to take the difference from your cash value. The life insurance companies will pull from your cash value asset to make up the difference which you should be paying. Now once the cash

Donald Marquez
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asset has completely depleted then you're going to receive a letter on your annual statement saying that you need to pay this amount of money. Now most people are like, oh I don't know what to do, I can't afford this. And the worst thing you can do is cancel the policy. You do have options. This is why they have insurance agents, the life insurance companies

Donald Marquez
0:09:37
have insurance agents to walk you through the process and I have a lot of experience You know, I don't I don't tell people to cancel their policies. That's work within your policy Let's see what we could do within your policy. That's not to be quick to cancel unless it's necessary now if you borrowed money against your life insurance policy. And you now are getting up in age in your mid 70s or even your 80s, you borrowed money against the policy,

Donald Marquez
0:10:09
you never paid it back. Now your cash value is less with money borrowed because the money borrowed is creating an interest about seven to eight or even 9% interest annually on the money borrowed. You have to understand how this works.

Donald Marquez
0:10:27
So yes, your payment is going to go up annually because you borrowed money, you didn't pay it back, and your cash asset is depleting and the money has to be made up. So this is what I do. You're paying $100 a month, you borrowed $3,000 or $4,000 from your policy, and your cash value in your policy, let's say it's like $12,000.

Donald Marquez
0:10:48
But you see it eroding You know every month that cash value is eroding or on your annual statement You have less and less on your cash value. What we could do is a new illustration a new illustration I'll contact you with your permission We're all in a room together in my office together and we'll with your permission Put it on put the conversation on speakerphone and then we look at our options to rewrite the policy illustration. To

Donald Marquez
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rewrite the policy to us. So let's extend the illustration. Let's have a fixed premium throughout the life of the policy. Now throughout the maturity life of the policy could be at age 95. It could be to age 100. Or it could be to age 121. We don't know because when the policy was written initially You you selected okay? I want my policy to extend to age 95 or 100 or if your insurance agent do not go over this

Donald Marquez
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Pertinent information with you now it is time to get an insurance review no obligation My name is Donald Marquez. I can help you through this process 702 236-2624-702. Located right on the corner, right in the heart of our beautiful city, Las Vegas, Nevada. Sahara Rancho in the U.S. Bank Building.

Donald Marquez
0:12:15
I service policies, I'm able to offer policies in the state of Nevada and also the state of California. we have an insurance review with your current policies that you have and I don't charge you a fee to come in by appointment and we sit down and we go over all your insurance. This process takes about an hour so we need an hour of your time and to go over it and most people walk away feel relieved or a lot more educated. Now if you have a policy and everything's together and everything

Donald Marquez
0:12:47
you don't need any changes on your policy I'll push it back to you and say you've done well but seven seven out of ten policies I find that you know that we need to make some changes we need to make changes because some of these policies life insurance policies you're heading toward a cliff and eventually you're gonna fall off the cliff you know in the many years I've been in this business and I've heard this conversation over and over,

Donald Marquez
0:13:16
of course you wanna have something to protect your family. And when people say, if something happens to me, I don't know where they came from. If something happens to me, I wanna make sure my kids are taking care of my family's home.

Donald Marquez
0:13:30
Okay, well, don't say if something happens to you anymore, because that's saying like you're gonna live forever. That is saying you're going to live forever and no one lives forever. It's going to happen to me. It's going to happen to you. It's going to happen all of us. We have a day, a time. Our time is going to be, will expire on this earth and we'll move on as the Bible says. You know and and it is what it is. Now our problems are over

Donald Marquez
0:13:57
with but now we leave behind the dust. The settling of the estate, the settlement of who's going to pay for this very expensive funeral. You have to settle the debt. We have to settle debt. It's always good to have a nice car. It's always good to have a nice place to live. Your home is your business. It's a place of business. Of course you have to pay your bills every month. But your family members quickly realize

Donald Marquez
0:14:26
if you had your finances in order. It's not that difficult to put your finances in order. You know, the thing about if you don't have life insurance, we do not run credit checks for life insurance. Thank God we don't. Well, I've had that question asked.

Donald Marquez
0:14:42
Do you run credit for life insurance? No, we don't. Fortunately, we don't. But we do look at your driving history to make sure there's no reckless drivers. No DUIs out there You know abundant of speeding tickets because that that is concerning with the life insurance companies now if you have a felony

Donald Marquez
0:15:01
Or you know that that you know I do have companies that will offer you life insurance even if there's a Felon in your household if you have a felony and I go over these bullets because these are concerns that people have. These are one of the reasons why people procrastinate. Well, you know, I have a record and they're not going to offer me any life insurance. That's not true. There are policies available. Benefits are paid within 24 hours. Whole life insurance benefits with a felony

Donald Marquez
0:15:34
up to thirty five thousand dollars in coverage. No health examination. Just a few health questions I asked. And it's easy one-page application. Most people qualify with health issues. Lupus, cancer, diabetes. I didn't realize how many people have diabetes. There's a lot of you out there with diabetes. Type 1, type 2 diabetic. Don't give up. policy 702-236-2624 702-236-2624. With a whole life insurance policy rates and benefits are locked in for life. Now there is a difference between a whole life policy up to $35,000 in coverage versus what we call a universal life. Now

Donald Marquez
0:16:19
universal life is also whole life because it protects you your entire life. However, the flexible universal product sometimes have a you know has a product inside of it where it it changes you know the policy rate changes over time. Now with that flexible rate as I was talking about earlier if you're paying $100 a month you can continue to pay a certain dollar amount each month we just have to make sure that your policy will outlive you. And the only way we can find out is with an insurance review.

Donald Marquez
0:16:56
We go over the illustration. We adjust the illustration on your life insurance policy to extend it or to to make it work in your behalf. Again 702-236-2624 702-236-2624 What the universal life insurance policy rates benefits start

Donald Marquez
0:17:19
at a hundred thousand dollars with the face amount of the policy and up. A hundred thousand dollars in the millions if you need that much but if you have life insurance on your job and I've had this conversation many times people say well you know I have life insurance on my job I don't need any life insurance. Everyone needs life insurance.

Donald Marquez
0:17:39
Because most jobs only pay three times your salary. If you're only making $50,000 a year, that's only $150,000 in coverage. Now what if you have a family of three children, a wife, a mortgage, and you're only making $50,000 and your life insurance policy is $150,000 how long would a young family will $150,000 last year in today's economics?

Donald Marquez
0:18:06
Not long. You know most people when they receive $150,000 life insurance benefit you know that money might last two years if that. And I've talked to many people over the many years of 28 years in this business. In the insurance industry. I've talked to people that has received a half a million dollars, $500,000 and the money was gone within a year. I couldn't believe I heard I had this conversation. I said, what? He said, yeah, we blew the money. Took vacations, bought cars, jewelry, homes, furniture, life-changing, at least they bought a home.

Donald Marquez
0:18:50
But this happens, this happens. Now, if you have a large life insurance policy, I do recommend that you put that large life insurance policy in a trust. Now, your lawyer can go over with you the benefits of having a life insurance policy in the trust

Donald Marquez
0:19:06
so you can extend the generational wealth. Now, we're having a million dollar life insurance policy. I'm not an attorney. I'm not in real estate. I only offer insurance in the state of Nevada and California. By saying this to you, if you don't have a trust but you do have a large life insurance

Donald Marquez
0:19:26
policy, you may want to consider putting that life insurance policy in your trust so the disbursements of the death benefit are paid over time. Time is our most valuable asset. We get up every day with a restart. So don't procrastinate. If you need life insurance, and we all need it,

Donald Marquez
0:19:49
now is the time to act. And don't say, well, you know, I'll do it the first of the year, you know, I'll call Donald the first of the year. You've got the holidays coming up.

Announcer
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I've heard that before.

Donald Marquez
0:19:58
You know what happens the first of the year?

Announcer
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The Super Bowl.

Donald Marquez
0:20:01
Well, New Year's Eve, then the Super Bowl. It's like back-to-back. Super Bowl should be a holiday in the United States because this is a big event. However you know people are like okay the Super Bowl then Valentine's Day and then just you know and then and it's in the taxes. So all of a sudden I'm a contact down on the first of the year becomes now you know midsummer because time goes by so quickly. What's the difference between now and the first of the year?

Donald Marquez
0:20:29
Let's be proactive. You get up every morning. That means you get an opportunity to restart your life. Do something different. Let's get this taken care of. You know because your family members gonna need this coverage. They really are. You know I've had many conversations with many beneficiaries over my many years and they thank me. Thank you for getting a life insurance policy on my dad. He was very stubborn.

Donald Marquez
0:20:58
He didn't want to get a life insurance policy. He whined and kicked the whole time. What are you getting life insurance on me for? But dad, someone needs to pay for your final expenses. I don't want to be left in debt trying to take care of your final expenses. Well, I don't want to talk about it. This is the pushback. Why

Donald Marquez
0:21:17
not? When people tell you, your family members tell you, they don't want to talk about it. That means they don't have their business in order. You need to know if you're the beneficiary. You need to know where the life insurance policy is. You need to know this valuable information. You know there's many times when people have to go in their homes or their loved ones, deceased loved ones and tear the house up looking for information. Looking for a life insurance policy.

Donald Marquez
0:21:44
I don't know, did dad have a car payment? You know, did dad have a mortgage? We don't know the mortgage company. It's good to have a list of items on a sheet. Okay, this is my mortgage, this is my life insurance. These are my beneficiaries. This is where it's located. I mean just go down the line. I have a car. It's financed through this credit union.

Donald Marquez
0:22:14
My monthly payments are. This is my loan number. These are my bank accounts. These are my writing number. My checking account. These are the banks I do business with. Your family needs to know this information and there's nothing wrong with sharing this information or Just have a list of items on your on your sheet of concern So your family members know where it is. They know what to do because a lot of times, you know, we're at a loss Family don't have time to grieve

Donald Marquez
0:22:41
Because you know the simple things we need to do we just don't do it. I want to leave my house to my children Your children name is not on the deed

Announcer
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Want to leave my house to my children

Donald Marquez
0:22:51
Your children name is not on the deed. You don't have a will you don't have a trust. So how is this supposed to happen? Because you will it to happen you want it to happen and this is why the city gets so many properties because people procrastinate They don't take advantage of time that's given God gives you time every single day to get up and do what you need to do. You're getting a start every single day. So if it is your intent to leave your family members a home or homes, put them on a deed. Get a trust or a will. Put them on the deed. The deed is

Donald Marquez
0:23:27
like putting them in a beneficiary position. They can't take out a mortgage on your house. They cannot sell your home. It's just transfer the property from one to the other, whether it's a mortgage or not. The mortgage company doesn't care, as long as they get the money each month. Now, with your name on the deed as a beneficiary,

Donald Marquez
0:23:48
now once you lose your loved one, you take your loved one name off the deed, and then the deed is in your name. Now, husband and wife, I've seen where husband and wife, though the husband bought the house, or the wife has bought the house,

Donald Marquez
0:24:01
and the spouse is not on the home. But you know your intentions are to leave your spouse the house. Their name is not on the mortgage. The name is not on the deed. That home is gonna go on the probate. We can avoid all this messy business by taking care of our business. Not the first of the year. We could do it right now. I'm not a lawyer. I'm not I'm not a realtor. I'm not a mortgage lender I am a professional insurance agent with valuable information

Donald Marquez
0:24:32
because of my history with many customers over 28 years of service in the state of Nevada and California I've heard a lot of stories. I've heard stories people purchase accidental only life insurance policy into the funeral Home and they quickly find out that it doesn't pay anything It doesn't pay for anything. Don't let this happen to you No insurance oblique no fee for an insurance review. We sit down together go over your policies

Donald Marquez
0:25:09
Let's get your house in order. I've had people contact me this month. People have passed. I call the beneficiaries. Hey, this is what we need to do. And one lady, she said, you know, I just spent $2,500? She said the funeral home charged me. We're making arrangements because some people don't want to be buried in Nevada. They want to be transported. It was $2,500. To make that arrangement, to have the remains transported from one location to the next so the loved one could be buried in the state of choice.

Donald Marquez
0:25:57
And it's $2,500. And they had to pay that money immediately. So what I told her with the life insurance policy, let's take an advance out on the policy now without the deficit certificate to get these bills paid. She said, you can do that? I said, absolutely I can do that. The only thing I need to do is pick up the phone, give my authorization to the life insurance company. If I wrote the policy, let's keep this in mind, if I wrote the

Donald Marquez
0:26:20
policy I give my authorization to advance the money to the beneficiary within two business days. Within two business days. Now every scenario is a little different. Or, here's another one. If you have a terminal illness, right? You stage three cancer, stage four cancer,

Donald Marquez
0:26:41
you can take now an advance on your life insurance while you're still living. Now if you stage three cancer, I've done this where a lady had a $300,000 life insurance policy right she was stage three cancer and she could not work because she was disabled she couldn't work so she was thinking about well I need to count I she wanted she was in the crossroads right she wanted to cancel her life insurance

Donald Marquez
0:27:08
because you know she had to pay that monthly premium but she needed the life insurance because she don't know it's stage three would turn into stage 4. She was just perplexed. She contacted me, not the policy that I wrote. She contacted me because she heard this radio program on KUNV 91.5 Jazz and More. What should I do?

Donald Marquez
0:27:31
I have a $300,000 in her pocket to pay for her medical bills and her expenses. And you know and thank God she outlived her 12 months because the doctor gave her 12 months but she's still living today and I'm so happy she's still around. But she got that advance on the policy, she still wasn't working. These are things you can do. So to cancel your policy, let me cancel this policy,

Donald Marquez
0:28:04
because you know, for whatever reason you want to cancel the policy, don't do that. Let's go over your policy. Let's see what your options are. It doesn't cost you that much money.

Donald Marquez
0:28:13
Life insurance, you're just buying money. That's all it is. It's your savings account. If you're terrible with saving money, why not purchase a life insurance policy? You have an instant savings account.

Donald Marquez
0:28:23
You get a life insurance policy for $100,000 and you only pay in a small amount each month, you just put $100,000 in your savings account. No other product does that but life insurance. My name is Donald Marquez. This is your insurance connection. My contact number is 702-236-2624.

Donald Marquez
0:28:42
Again, located on the corner of Sahara Rancho in the U.S. Bank Center. I work by appointment. That's right across the street from the Palisades Hotel. 702-236-2624. My business hours are Monday through Friday from 10 to 5 p.m. and some Saturdays I will work all by appointment Monday through Friday from 10 to 5 p.m. and some Saturdays I will work all by appointment only. 702-236-2624. You guys have a great day today. We'll see you again next week. Until then, just keep it crispy.

Transcribed with Cockatoo