YOUR INSURANCE CONNECTION

Unknown Speaker 0:00
This is a key when the studio's 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.

Unknown Speaker 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.

Unknown Speaker 0:46
Good morning. This is Don Marquez with your insurance connection broadcasting at K you envy 91.5 Jazz and more early Sunday morning 8am to 830. Welcome to my show. And I want to thank the listeners that came in and talk to me about their insurance. Thank you for your continued support. They purchase home auto. And yes, they did purchase life insurance. You know, that's my favorite subject of all times. Because we all need it. We all have to have it. I had a call just last week. I couldn't believe it. I mean, I had a call last week, I offered a gentleman a life insurance policy, oh, there's about a little over eight years ago, and came and he told me I didn't want to I didn't want my family to be struggling to take care of my final expenses. I've heard you on the radio. And yes, I've been on the radio for quite some time. And he said, I just want to make sure they're okay. Now he couldn't qualify for the larger life insurance policy. But he did qualify for $35,000 worth of life insurance. He had underlying health conditions, I don't use any names. I'm just, you know, just I talked to the family. And it's okay to tell the story because people need to hear this. And this is why I'm telling you this story. Well, he came and he purchased the policy. And it was about eight years ago. Unfortunately, he passed away about three months ago. And I received a call from his daughter. And she was just wondering if her dad had life insurance. Well, I didn't know her dad had passed because the policy, I didn't receive a notice the policy, there was lapse or there was any red, you know, red flags on the policy. You know, I didn't receive any notice at all from from the life insurance company. However, the policy had gained cash value. And what happens when the policy is not being paid. Now the cash value pays the policy to keep the policy active. The problem was the gentleman passed away, or the lover three months ago, he did not tell his family who was the beneficiary. He didn't say okay, here's my life insurance policy. You are my beneficiary or beneficiaries. You know, and this is where my policy is. They didn't know he had a policy. So when he did pass, they had to pull money out of their 401 K's. But people were flying in from out of town. It was it was a mess. It was quite a bit of a mess. The mortgage was still doing the car insurance was doing the car payment was due. He was quite a bit of a mess. However, I don't know the curiosity from his daughter. She's an I know I hear you on the radio all the time talking about insurance, especially life insurance. I you know, I My dad didn't talk about you time from you know, from time to time. I'm just wondering if my father took out a life insurance policy with you. And I had to check my files because again, this broke eight years ago, and I slightly remembered him. But yeah, absolutely. Yeah, actually, actually, your father did take out a policy with me. And he qualified for $35,000 worth of life insurance. He had diabetes. And he was turned down multiple life insurance companies because of the diabetes. And I was offered I offered him a policy 35,000 with cash value. He took it didn't tell his family who was the beneficiary. And now they're they will struggle to put his final expenses together to bury have a respectable burial, and pay for his bills that was still lingering at the time when when the when the young lady contacted me. I'm telling this story because it has happens far too often. Now, you know when I told her, Your dad has $35,000 with a whole life insurance. And she says Does it is there a wait period or anything like that? I said no, no, no, no, your dad qualified day one plus has been over eight years. And this is the name of the company. And what do you need to do is or if you're if you're the beneficiary, you need to file a claim with the company along with the death certificate to get the benefits. She said okay. She said I don't know if I'm the beneficiary or not. I said we'll follow up with me and you know, I'll get as much information as I can for you find out she did. She was not the beneficiary But we contacted the beneficiary and got the paperwork moving, and to catch up with all the final expenses that I had was overdue. And people had spent their own hard earned money to take care, his final expenses. Now he came to my office with good intentions, he said, You know, I don't want my family to be, you know, be responsible for my responsibility, taking care of my final expenses. I have been turned down from, you know, multiple life insurance companies, I heard you on the radio, what can you do for me? Well, you know, we all have to pass one day, and this gentleman pass with all good intentions. But it's all good until you don't do it. You know, I tell people when they purchase the policy, tell your beneficiary or your or your beneficiaries, who are the beneficiaries, who and have a conversation with them. I know, most of us don't want to hear the conversation. I know that this, you know, I don't want to hear about that. I don't want to talk about it. You know, I just, you know, why are you bringing this up? There's always a pushback, is that negative energy, you know, but you're trying to have a positive conversation. I'm looking out for you. And my future. I don't want you to be financially, you know, hindered by my passing. You have your own obligations there, but I don't want my obligations to be turned into your obligations. And life insurance is a gift of love, look at as a savings account. You know, he had all the right intentions, but he just didn't do that one more step. And I tell my clients tell the beneficiaries or the beneficiaries, who they are, where the policy is, and this one is they come in it comes for all of us. Here's my life insurance policy, you know what you can do, you can give your beneficiary the life insurance policy, that's absolutely nothing they can do with it. They can't call to make any changes on it, because they're the beneficiary and they cannot make any changes. They can't cancel the policy. They cannot take the cash value out of the policy. It's just there when they need it, and they will need it someday. They're going to need it. They're going to need it. You know, my name is Don Marquez. And this is your insurance connection. I know it's hot outside. It's 100 plus 115 17. I live in Vegas all my life. And it's very warm. I said now you don't want to come. You know my office, located on the corner of Sahara Rancho and the US Bank Center, located on the eighth floor. My business hours are Monday through Friday from eight from 10am to 5pm. You can contact me at 702-236-2624 702-236-2624 We can do a lot of business over the phone because it is very warm outside. And you know plus the gas and in the heat and getting in and out of the car. I tell you this is this is scorch. I'm live in Vegas all my life. I left and went to the military and came back. But I've never known it to be this hot. And it's a different kind of type of heat. It's more of an intense heat with humidity. Back when I was growing up in Vegas, we had no humidity. Very little Yeah. Next we have swamp coolers. Believe it or not. I'm telling me he's been It's okay. That's okay. As part of Vegas history. But most people have swamp coolers. It was a luxury to have a you know air conditioned with Freon and you know, the central air conditioner that was that was more of a luxury. But eventually it started to come. And they kept coming in the swamp coolers. The humidity kames swamp coolers have to go away. But I'll make it very convenient for you. You can standard out central air conditioning, stay right there under the central air conditioning and don't have to come don't have to come in to see me. You can we can do a lot of business over the phone 702-236-2624 702-236-2624 You know what with a life insurance policy in place, and your family will need your life insurance policy is going to be a matter of time when they're going to need it. We never know if I knew or you knew when that day was going to come for all of us that was going to pass it would make my job a lot easier. You know, so you know I got 10 years left I need to call Donald Marquez and make this happen because I only have a short time left. But in in the United States I did. I did pull some numbers in the United States, the average age of a man in the United States before he passes, you know passing age the mortality age is around 76 years old, couldn't believe it. The average age of a man passing the mortality 76 the mortality of a woman in the United States 81.

Unknown Speaker 9:59
So You can kick us out there, you don't have a lot of can kick in room. Let's stop procrastinating, let's do something proactive instead of reactive. Let's not put our family in a financial ruin. Let's not do that to our family members, your daughter doesn't deserve it, your son doesn't deserve it, your wife doesn't deserve it. And your husband does not deserve it. If you have grandparents or parents that don't have any life insurance, or you should ask them the question, do you have life insurance. And if you do have a policy, let's have a insurance review. Donald Marquez offer no obligation insurance reviews, we're gonna take the life insurance policy and the CM, just to let you know where you are with it. And I'm gonna tell you some, I look at a lot of life insurance policies that people bring in. And they want to review, I will say maybe seven out of 10 is the wrong policy for you. So that's about 70% of you that have life insurance, is the wrong policy. Now of you retiring from your career, and now you out of the group, and I've said this before on my program, the out of the group, then you pan out of the group rates on your life insurance policy, because the group wants to stay younger, they wants to want to stay young, and that keeps the group's rates down. But when you're out to the group, because you're retired, or you resign, and it's time to move on, but you were offered the benefit. And sometimes, you know, the first five years of benefits stays the same same payment. But after the first five years, you're gonna see rate adjustment on your group, life insurance plan from your career, or your job. Everyone said, but it happens, it happens all the time. I have people contacting me and if you're a fireman, policeman, or or, you know, your postal worker, military, I hear it all the time. Because well, you know, I got I have insurance through my work, and it's not enough. And as as you age, sometimes those benefits are reduced to half. And they reduced even more, but the payment stays the same or the payment goes up. When they start reducing those benefits for you. If you're gonna pay for life insurance through your work, let's find a policy that's suitable for you. That's fine and policy that will stay with you for the rest of your life. My contact number is 702-236-2624 702-236-2624. I'm a licensed insurance broker for the state of Nevada and also California. Yes, and now and on occasion, I do receive calls from California. Now, when California has called me they just like, yeah, I want to, you know, they don't hesitate. You know, I need it. And, you know, I get calls to from many people in Nevada. But it's usually from experience, you know, I know, I know, person just passed away or I was at a funeral service or, you know, a couple of my loved ones passed away in a short period of time. Usually it's the rule of three. I don't know why the universe puts it together like that. But when one goes, another one goes and then another goes within it sometimes within a year or less. I'll tell you 2011 was the worst time of my life. I had five, five passings in one year 12345. And I will never forget 2011 2011 was tough on my cousin, two cousins, my mother, my grandmother, and a good friend. I mean, that was a lie. I was alive in 2011. As soon as young you know, you're trying to get over one hiccups, another one, and another and another. Fortunately, for ones that were near to me, and dear to me, they had life insurance. And now we're near and dear to me. And they all had life insurance, but I'm just so mad. I'm talking about my immediate family, my mother, my mother in law, they passed. And fortunately, we did have insurance on my mother and also my mother in law. My mother was a smoker. And it was you know, we found her policy it was that she had other health conditions too, as well. But were able to find her life insurance policy. And it took care of a very expensive funeral. It was over 300 people in my mother serves and then write Thanksgiving. The day before Thanksgiving. My mother in law passed. I mean, it was tough. 2011 It happens. It happens all of us. And we never know what's going to happen. You have to be prepared. Ask yourself right now listening to this program. If I don't like to use this word, if something happens to me, Well, how would my family be? financially? Just ask yourself the question by me passing. What financial position do up or my family here today? If you know you have less than 24 hours of deduct, so you are 24 hours Lu and you think about Everything, my wife going to make it, how she's going to make it and my children, how are you going to survive because now your family is going to lose that income coming in, or that income is reduced. How is your family going to survive without you being. And I'll say you don't care, you should care because life insurance is a gift. If you love your family, you should love to have a life insurance policy. Because financially, you know, they're gonna be devastated, they have to move out of your home may have to relocate somewhere in another state. You want to keep the family together, it tears families apart. I've seen it over and over again, when you lose a loved one a head of household, or a one of the key members in the family. It just tears families apart, financially, and They bicker and fight over little bitty things. Not only having a life insurance policy is a good good to have, but have a will or trust as well. That way everyone knows exactly what your final wishes are. You know, and this is important, especially when you start you know, you're late 50s 60s 70s You know, it's time to be proactive, it's time to think ahead, we need to think ahead to make sure that you know that when that day comes, your family is not struggling. It's unbelievable to me, you know, when they went to have these programs on TV, the red side as low as nine on in wisdom, that's less than $1,000 worth of insurance.

Unknown Speaker 16:31
What is that gonna do for you? Well, you know, we, we need to call and get that 999 plan. It says rates start as low as 999. It's catchy, it is really catchy, and it generates phone calls. And people quickly find out that 999 doesn't offer a lot of hardly any insurance, it probably won't even bother flowers. But it generates a phone call. I don't have any gimmicks. You know, I'm a straight shooter, I tell it like it is. I'm in a fiduciary position of trust. The life insurance companies and I represent 60 Life insurance companies, they trust me. And I'm also in a fiduciary position of trust with you as my client, I'm gonna represent you to the insurance company, and I'm gonna represent the insurance company to you. I'm your liaison between you and the insurance company. Now, whatever information that I need a doctor's phone number, and you know, things like that, the insurance company is going to contact me they need additional information, and I will contact you and for that information to the insurance company and uses like, Okay, explain this or this medication? When did you take it? Are you still taking it? You know, it's not, you know, information like that, then I'll call you. This is what this is what they need. And I'll forward it right to the insurance company so they can quickly process your application is very simple. We fill out an application over the phone or in person. And a step by step procedure. You fill out the application as submitted to the life insurance company. We take all your information, you know name, date of birth, etc. Address beneficiaries, your banking account information and we like checking accounts, no debit cards, checking account information. You know your list of medications if necessary. Sometimes, even if you smoke cannabis, don't give up because we can get your policy. Cannabis is not a federal law. It's state by state. Then in Nevada, we do have laws that legalize cannabis. I have companies that will offer cannabis Margaret life insurance policies 702-236-2624. My name is Donald Marquez. 702-236-2624. If you have a policy and you feel like well, you know, cost of living has gone up and you bought your policy. And you know, don't think about canceling it don't don't consider that because it's like you're canceling your savings account. You can reduce the face amount. You can reduce the face amount. Now there's many times when people purchase a policy for me. And they asked the question, can I increase my policy at a later time? No, you cannot. You cannot increase existing life insurance policy well we have to do is apply for another policy. Now let's say if you've had your policy for the last five years, and I get this question asked quite often and especially right after I say what can I increase at a later time, but you've had five years on your policy. Now you were five years younger? We're going to rate you at that at that rate with that policy. We're gonna leave that policy in place. Now we'll we'll add an additional policy at your current age, because he would if I rewrote the entire life insurance policy See, or increase it, I would have to rate you at your current age. That's why we don't increase life insurance policies, transfer of ownership for life insurance policy that can be done simply by, you know, transferring ownership. Now the person is still at the insured individual, let's say they have may have to go into a nursing home, or they have Alzheimer's or dementia. And they, you know, just don't quite remember like they used to, but they need someone to take over ownership of the life insurance policy to make changes, just in case, you may take transfer ownership, if a person has Alzheimer's or dementia, and then all of a sudden a family member come in with power of attorney to speak on behalf of the insured individual with Alzheimer's or dementia as an example, they can contact the life insurance company, ask for a transfer of ownership form, fill it out. And sometimes you may or may not have to have it notarized because of the loved one. They have the life insurance policy, the owner of the policy, current owner, the policy has Alzheimer's or dementia. Now you fill it all out filling information out sending into the life insurance company, they will do a transfer of ownership by transferring ownership allows you the opportunity to call in life insurance company and make any changes necessary. And most time it is change of address or change of checking account information. When you have a life insurance policy, please listen, when you have a life insurance policy, and you change your checking account, or your debit card information, the life insurance companies or the Auto Insurance companies do not know that. Okay. And this This is one of the number one reasons why a policy lapse because you change your account information. And you just assume that life insurance company or auto insurance carriers know that you change your banking information, you go from Bank A to bank B. And they don't well, how are we supposed to know that. But keep that in mind transfer of ownership. You know, you could do it and make it happen if you have loved one, even if they're going into a nursing home and I tell people this if you have a loved one, perhaps maybe going to a nursing home those nursing home may take your policy from you as an asset. Keep that in mind change of beneficiary form. This happens quite often you lose your primary beneficiary they passed away first, before the named insured. I use this a spousal situation when there's a spouse involved. The husband pass the wife don't add a beneficiary on to the policy or don't don't have a contingent beneficiary. Now, the contingent beneficiary is only a person in position if the primary beneficiary pass before the named insured. In other words, the wife is this is her life insurance policy. The husband is a primary beneficiary. And let's say the contingent beneficiary is a daughter. Now, the husband passes the husband as a primary passes before the wife as primary, he goes off the policy, the daughter and the contingent beneficiary automatically moves up to the primary position. Now you can have more than one beneficiary, but the percentage has to add up to 100%. Now beneficiaries now don't necessarily have to be people. If you want to leave your church or your foundation or or any charitable organizations, a portion of the life insurance policy, you can also do that. So for an example, if you will leave your church 10% 20% Or your life insurance policy, you we just add them as a primary beneficiary, you have a spouse at let's say 80% And you have your church or any charitable organization at 20% or K u and v 91.5 Jaza more, because you put them you put us down as a beneficiary to as well. Little Plover 91.5 jazz or more. If you borrow loan, you can get automatic loan requests from your life insurance company if it builds cash value it does take time to build the cash value over time. Once you have a cash bail asset, then if you know things do come up, things do come up. My air conditioning unit went out downstairs oh my god for three days you know had to go back and forth to get the parts and I don't know why these AC places close early. You know it doesn't make any sense. But you know, things come up I so I had I didn't I didn't borrow any money for my life insurance policy. But things do come up. So you know I had I had to take money out of my account and pay for the service. But I need AC when I'm 117 I need AC that's necessary. But that money set aside that's where my savings account that's what Are emergencies, not my life insurance is not going to be touched. That's That's my security blanket the pass on generational wealth. That is to pass on generational wealth to the next generation to take care also my final expenses, because I don't want to leave my final expenses in the hands of my children where they have struggled to pay for my final expenses. This is my responsibility. I don't have a spouse at this time. However, you know, I don't want to I don't want them to be in financial debt. Because I talked to talk and walk the walk, okay. Do you have a life insurance policy? If you have a rider on your life insurance policy, and a rider is a young person that's 18 years or younger? Now, as a as a rider on your life insurance policy, they will spin off at age 25. The life insurance company will offer them their own life insurance policy at the age of 25. And put them on as a rider just in case there's a premature passing their insurance. Now, the question has been asked if the named insured person passes away, is the riders policies still in effect? No.

Unknown Speaker 26:16
What's the name insured pass? Then? If the children are under 25, then without their own policy, this bummed off? No, the policy is over for everyone. This is one of the reasons why life insurance companies no longer put the husband and wife won a policy together. Years ago, I used to do it. I've had people contact me and said can we can you put me in my fire family on a life insurance policy? No. Each children we can add on as writers, people just over 18 We do not add on as writers. I've been an insurance agent since 1996. When I was licensed in the state of Nevada, that was one of the happiest days of my life. It really was it was the right day, the day before Thanksgiving. I was so excited. I passed the state exam. And it was tough. I hadn't been the classical home time. When I say a long time, it's been a while that was I was in my late 30s When uh, when I went in came in the insurance industry. My late 30s. I've been in the business now for 2020 years. Long time, long time. All this information I'm giving you is because I have a lot of experience. You know, I trust the fact that you're going to give me the right information that what's going on with you. So I can present it to the insurance company. Sometimes people try to conceal what's going on with them. We're going to find out, we're going to find out. I'm very transparent. I want you to be transparent with me too as well. If you have something that's going on, and it even if you have if you have cancer taking cancer treatments, a new stage one stage two cancer. With over 12 months to live we can get your life insurance policy. If you have diabetes, lupus cancer, multiple sclerosis, we can help you with a life insurance policy. My name is Donald Marquez. This is your insurance connection. I hope everyone had a safe Fourth of July. Oh my god is getting hot outside. I hope nothing happened if you need to file a claim because there was damage to your property or your car file a claim immediately. What else? We'll do this again next Sunday from 8am to 830. Stay hydrated, drink plenty of water. Stay cool. Is nice at night. But if you do have to work in the sun, God bless you. I don't know how you do it. It is just too intense out there. My name is Donna Marquez offering home auto life insurance boat motorcycle 702-236-2624 70223626242 and till next week, just keep it crispy. Thank you for listening

Transcribed by https://otter.ai