YOUR INSURANCE CONNECTION

Unknown Speaker 0:00
The following is a paid program sponsored by your insurance connection. Please be advised that the voices and opinions you hear do not necessarily represent the views of K u and v Las Vegas, the University of Nevada, Las Vegas or the Board of Regents of the Nevada System of Higher Education.

Unknown Speaker 0:21
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 0:41
Good morning Las Vegas. My name is Don Marquez, this is your insurance connection. Happy Sunday morning. It is hot in Las Vegas, Nevada and all the surrounding communities. Make sure you protect yourself put some sunscreen on because today isn't going to be another cooker. It's very hot outside and you know what that means? Stay inside and stay cool. That's what I'm gonna do. My name is Don Marquez on your insurance connection. We broadcast right here at K u and v 91.5. Jazz and more. We talked, we like to talk about insurance. What do you need to know about your insurance? today? Let's get right into it. I've had customers contact me and ask me about the different coverages you know, that's always one of the number one questions they asked me is a different coverages. And why are the coverages are so different? Let's say let's talk about term insurance. They want to know what's the difference between term and Universal Life and whole life. So these questions that come up frequently, and I'm just gonna break it down as quickly as I can. So get your pen and pencil or take notes, take mental notes. Term insurance for the life of the policy is 30 years if you qualify for a 30 year term policy. Well, for a man's age and 58, he can qualify up to 30 years of Term insurance if he's not a smoker. Now, if you are a smoker, usually for good 30 years of a term policy, you would have to apply around age 2056 56, I would think 56 No more than 57. If in fact you're a smoker now for a woman, she can qualify up to 30 years at age 58 Whether she's a smoker or a nonsmoker with most companies I work with. For more information, my name is Don Marquez, my contact number is 702-236-2624 702-236-2624 I get my phone number out quite a bit during the broadcast. So if you didn't get it, I will give it out later on in the show. Just keep it locked right here, that K u and v 91.5. Jazz and one but we're talking about the difference between the policies, the policies, now term life insurance policy, has no cash value, no cash value at all. So there's no cash build up money you can borrow against the premium stay locked in for the term of the policy that 30 years is the max, you can also get a 20 year term or a 15 to 10 year term. But you know, when you when you get these offers in the mail from these companies, and they offer new term insurance, you really got to look at it and and a lot of times it says the age 95 or age 80, you really got to understand what you're looking at, I don't recommend you purchase those policies by that way. Because a lot of times you get a lot less coverage. And you may and you will I live the policy.

Unknown Speaker 3:34
So you may and you will allow the policy so that geared somebody certain policies for 10 years now, I don't know why a person would write a 10 year policy unless you know you would have a business arrangement with a business partner or maybe you know, there's a situation where you need to care a lot more insurance because you have a lot more liabilities. And you need to carry that Short Term coverage, but 10 year term policies. And if you have a you know, business, you just open up with a partner you continues on your partner 10 years on yourself. You make each other to beneficiaries. If that's the case, that makes sense on a 10 year term policy. But if you've got to purchase term, get as many years as you can from a term life insurance policy. Now with term you can convert it over to Universal Life or whole life. That's the only policy you can do it. You can roll it over doing the conversion period of the policy to to universal life insurance or to whole life. Now, let's go to Universal Life. Universal Life is a like a whole life policy. But it's a lot different because the universal life insurance policy starts at $100,000 and up as much as you can afford $100,000 of that it does build a cash value. Now once you're locked in with the rate that the rates are locked in to age 100 Use it to age 100 Or even higher. He's 105 But the universal life insurance policy is set up. So it would last a lifetime. It will last a lifetime. This is another question I get asked quite often can I add my spouse on to my life insurance policy? No, you cannot, unless your spouse is 17 years or younger, okay. But they don't do that their life insurance companies don't do that anymore. When when we can add a spouse on in the past, when they would add a spouse on to a life insurance policy. And the primary person that owns the policy the other words, they're named insured as we call the first individual on the policy dies first, then the policy dies when that person passes away. However, when they had the wife or the husband on as a writer, on the policies in the past, you know, again that the named insured that number one person passes away, the policy dies. But if the writer passes away, it pays that coverage amount, whatever the coverage amount is, and then later on, okay, the named insured passes away, that portion pays to but in most cases, it was the husband listed as a named insured. In other words, he was in first position, and the wife was a writer on the husband's policy, the husband die first, statistically men do die first. Not in all cases, not in my case. And not some people cases that I know a few is a few would old male widows out there. But in most cases, the men Dubai die first. And now that that counsel is the policy altogether, but again, if your wife were to pass away first, if you had one of these old policies, the writer still pays that portion. And then it stays in loans, you're paying the premium, it stays in force for the named insured. But you know, again, we don't say those policies anymore. We don't write those policies anymore. Now on a universal life insurance policy, it does build a cash value asset, if you need money for future endeavors, and maybe you want to, you know, retire, maybe you want to, you know, buy a boat on the lake or cabin in the mountains, you know that the money that's built up, and a life insurance policy you can borrow against, and, you know, do the things you plan on doing life, now a universal life, I want to have insurance reviews, I've seen a flexible premium of flexible premium, what is a flexible premium. That means your policy premium will adjust as you get older. That's when you purchase a policy and is not explained to you what a flexible premium is. Now if you're experiencing your universal life insurance policy, or your whole life insurance policy, going up every on anniversary every year, we need to sit down and have a conversation at 702-236-2624 702-236-2624 or less, let's find out why your policy is Justin you probably plan what we call a target premium is not enough to keep the policy in force, or you've borrowed too much money against the policy. And now you need to refund the policy fund the policy is is saying excuse me fund the policy with more premium. In other words, your target premium is if they tell you your target premium is let's say $75 a month, that's your that's what you pay every month on this policy. But now, you know, 10 years into the policy, you've borrowed $5,000 against the policy, now you're getting older, you're in your 70s. But it's not the money you borrow, you haven't paid it back. But now the cash value is depleted. But you need to put more money into a policy to cover up for the money borrowed. That's a flexible premium policy, or the policy could start out low, and then get more expensive as you get older. It's called the flexible premium life insurance policies. I don't like those, because as we age, we know we have a set budget, right? You're gonna set but I'm on a set budget. And we need to know how much everything is going to cost every month with inflation and everything is going on right now. We definitely need to know whether our life insurance policy is going to go up on us that's another expense, because another dollar is not as valuable as it used to be. We want to make sure absolutely sure that, you know, when we paying for our life insurance is not going to adjust on us as we get older. I can help you with that with a life insurance review. I'll review your policies. I'll tell you exactly why your policy is going up. And maybe we can make some adjustments to get a new illustration from your life insurance company. If you currently have a policy that's suggesting and Okay, what if we paid this amount every month? What would that look like over so many years 702-236-2624 My name is Don Marquez. This is your insurance connection. We broadcast right at K u and v 91. point five, Jazzy more Sunday morning from 8am to 830. I'm an insurance broker, do not charge for broker fees when you come to my office. I'm located on the corner of Sahara and Rancho, in the US Bank Center, located on the eighth floor 702-236-2624. I work by appointment. So from time to time, I do have people show up in my office without an appointment. But I do take time at least an hour an hour and a half of your time. You know, we sit down together, I want an hour to an hour and a half to discuss your current insurances that you have your life insurance, your home, your auto insurance, or if you're a renter, we talk about your renter's insurance policy. If you do rent, you do need a renter's insurance policy is very affordable. At the cost of a, you know, a cheeseburger just supersize and fries and a coke supersize, okay? That's the cause of insurance. renter's insurance per month, you can't beat it. And it covers a lot. Now, when it comes to a whole life insurance policy, what is that? It's a lot. It's like a universal life, but it's a smaller face amount. Universal Life starts at 100,000 and up term starts at 100,000. And up, now you do receive offers in the mail from time to time, they can offer you a term policy for little or nothing like $25,000 term policy, you need to stay away from those, those are very risky, very dangerous to have. And I say that because they disguised themselves as a term policy. But when you really get down into the contract, some of you receiving the mail is accidental only for a minimum amount. And you don't want that most life insurance policies come with accidental in it already in it. So if you die of an accident, the policy is going to pay, all right, so that you're already covered for accidental, you don't need nothing else. However, a whole life policy up to $35,000. In life insurance coverage, it is an excellent policy to have. And I'm gonna tell you why I say it like that. Because when you go to the funeral home, they have the what they call a pre need package. You go there, you select your casket and you select the whole burial plan. In other words, you you sit down and you do a funeral plan. Now, what you going to pay on a funeral plan is going to be at least three to four times as much than you would a life insurance policy. Because you do have to pay those off before you pass away. Now with a pre need plan from the funeral homes, you, let's say, Okay, I don't know, if I'm gonna leave that alone to pay it off. They do sell life insurance within that package. So just in case, you do pass away, you already have life insurance policy within the pre money packets from the funeral homes. So it kind of makes sense to me to get a life insurance policy because you pay in life insurance anyway. And you're paying almost four times as much for pre knee packets. Now the pre need package, of course you pay on and all those years you pay on it. And when you pass away, hopefully the funeral home is still in business. And they will honor the pre D package, which most of them will honor the Premium Package. However, sometimes with the pre D packets from the funeral homes, they are taxes to pay, if the person that purchased the pre need at the time, did not pay for the taxes up front. And the taxes are for the land, the headstone, the casket, everything. And of course, that list of items is go down the list. And all of a sudden now after you bury a loved one, you receive a bill that you owe taxes and a couple of $1,000 in taxes. And then you say what is this because the person the loved one purchased the pre need package, the they didn't pay for, they didn't pay for the taxes upfront, that happens quite often. But when you get a life insurance policy, and I say is an excellent policy for final expense, in other words to pay for that funeral. Now you can get up to $35,000 in Whole Life coverage. There's no taxes to pay. A life insurance benefit is tax free, regardless of this term, whole life or universal life insurance policy. It is a tax free benefit one of the few tax free benefits left on this planet,

Unknown Speaker 14:23
as you say, but what a $35,000 whole life policy there is no health examination. Just a few health questions. Now if you have any chronic illnesses, you know kidney disease, heart disease, Alzheimer's dementia, I mean, we don't think you cannot qualify for life insurance. Let's let let me take a look at your current health situation and make that determination I can find a policy for you. However, if you have less than 12 months to live, then we have a different conversation you need to go to the funeral home and purchase a package you really do. I'm being honest with you, but if you have let 12 months live, that's what you need to do. Because I've had people call me and my dad only as of four months live, can we get them on $1,000 life insurance policy. I'm gonna say that again, my dad only has four months to live. And we want to get him $100,000 life insurance policy. Just think about that. If a company would do that you think it made sense, it would make sense to a life insurance company, your dad only has four months live. In other words, you're gonna make four payments, and we're gonna give you $100,000. Once your dad dies, it doesn't make sense, doesn't work that way. You do have to qualify based on your pharmaceutical meds you take currently. And then if you take maintenance medicines like blood pressure, okay, that's maintenance medicine. You take cholesterol, that's maintenance medicine, if you have you a man and you take the flow pills for Flomax, that's maintenance medicine. So don't think you don't qualify because you have blood pressure pills, you're taking blood pressure pills, or even a wide appeal. You know, don't think you don't qualify even if you have diabetes, or if you've been turned down for life insurance. Now a lot of you out there have a whole life policy, but it's only $10,000 in coverage, only $10,000 in coverage, that will not cover much today. Now that the burial costs going up every six months, it will not pay for a funeral. If you plan on that being cremated. $10,000 won't do it, you need a lot more than that you need at least $20,000 today to keep up with the cost of inflation. Again, the funeral homes, the cost of a funeral goes up every six months. I don't know why I don't get it. But it does. And it's a profession that most of us don't want to do. I mean, once you go there, you know it's a it's an emotional purchase. And you want to make sure when you go to the funeral home, you want to have everything in order for your loved one. Now we all have to go someday we do. But you know these funeral homes and they tell when I go visit these funeral homes. And they tell me people come in what accidental only life insurance policies and their loved one passed away at natural causes. That policy does not pay. It does not pay. And the family member that present that accidental only life insurance policy to the funeral home and the funeral home people tell them hey, you know, they used to call it because this is accidental only the families are brokenhearted. Because you put your family in this position. You really did you got something in the mail. It looked good. It came from a reliable resource, your credit union, your banks, or even in the life insurance company that you the name that you recognize. But you just saw the price. The coverages you didn't read the contract once it came, you didn't know you know what I got life insurance, you don't worry about everything's fine. But you know, sit down with your family members and share this information with them. You should share the information with your family members. If you if you don't have a life insurance policy. Waiting is not a good answer. Someone has to pay for your final expenses. Let me help you make that decision. We'll find a policy that's affordable, will fit in your budget. I know it's a lot of everything's gone up. But you know when when it comes and that day comes for all of us. What is your family going to do families are devastated in the United States. On average passing of a loved one is about $60,000 in debt the family goes into $60,000 in debt we talked about medical bills, credit card bills, jazz bills in general just daily bills, your your mortgage, your rent, food, utility bills, cable television, okay, phone bills now, all that and just living day to day. All that's left behind for someone to pick up. And it's sometimes you know, when you lose a loved one, you also lose that paycheck or the paycheck is reduced. Think about what life insurance you put your family in a in a difficult position. And especially if you don't have any money saved up in the bank to pay for that final expense. That very expensive funeral on average cost today The funeral is around $15,000. And the funeral homes want all the money up front with a final expense life insurance policy from Lincoln heritage life insurance company that's the company that I represent. I'm their representative here in Las Vegas, Nevada. Let's sit down and get a plan together up to $35,000 in whole life. If you have underlying health conditions, or if you're looking for final expense burial policy, this is the way to go. There's no taxes to pay. The policy pays immediately upon passing well for your loved one. In other words, if you qualify for final expense, you do qualify up to $35,000 in coverage. You know that your loved one takes To the policy and to the funeral home, they take their portion out first, and they pay the beneficiary. Now if you have what we call a modified policy, what is a modified policy, it is a two or sometimes a three year wait period, because your underlying health condition, maybe you had a heart attack within the last two years, well, you had a stroke recently, you will not qualify for immediate insurance, I'm just going to tell you like it is, that's what I do, you will not qualify, if you did qualify for immediate insurance, I would have a company out there. Now you will qualify immediately for maybe it's some accidental coverage that's attached to a whole life policy. In other words, you have a whole life policy, and then as an accidental benefit to as well, but it covers car accidents, it covers transportation for remains, it covers. If you're on an airplane, bus or train, it covers that and also covers accidental death. Now, that's a rider attached to a whole life policy. I don't want to sound too complicated. You know, the advice I have for you is, for more information, contact me at 702-236-2624 702-236-2624. I received the information in the mail all the time. You know, they you know, from my credit union, from my banks from department stores, everybody wants to be in a life insurance business. And especially when it comes to accidental only life insurance. Now, who needs accidental only life insurance, let's talk about them. Now they target to seniors for accidental only life insurance. Because a lot of times seniors, they wait too long before they purchase life insurance and they think they can't afford it. But all of a sudden, okay, you can get $300,000 for less than $10 a month. That is very attractive. But you're in your 70s Does that make sense? You're in your 70s. Now, if you're 70 year old, and you're out there race driving race cars are ain't on the track. If you're 70 years young and older, and you're jumping out of airplanes, you're parachuting on airplanes. And you live in that lifestyle, you racing boats on the lake, you live in that Evil Knievel lifestyle, I'll call it. Yes, you do need accidental only life insurance policy. But if you just you know, retired, he's at home watching the game and you say to yourself, you know, I have an accidental only life insurance policy, I need to contact Don Marquez, just to go over over my life insurance to make sure when that time comes for me, my family doesn't have to worry about how they're going to pay for this very expensive funeral. It happens every day. Every day, people walk into a funeral home with an accidental only policy, and it does not pay for coverages for natural causes when you pass away, in other words, is not covered for natural causes. In other words, you you had a heart attack, and you die and you have an accident only life insurance policy. You have beneficiary will not be identified. They just won't. I don't know what to tell you. You know, a lot of you have it out there. I would say it's really no good. Honestly, I'm I hate to say, but it's just not that it's not a policy that I've known for all these years in the business. And I've been in the business since 1996. That's when I first received my insurance license right here in Las Vegas, Nevada. I've never known an accidental only life insurance policy to pay. I've never known one to brag. But you know, you put your family in a unique position when you don't have any life insurance. And you got to ask yourself, why if you don't have enough money in the bank to pay for a funeral?

Unknown Speaker 23:57
And you know, you need to do something. Let's do it now. Why wait? Waiting is not an answer. I mean, as you get older, you know the policy goes up as you get older to qualify for life insurance, not to say that is going to cost you more every year. No. But once you finally get a life insurance policy, and you wait it I've been waiting ever since I've heard this broadcast. You know, I've heard him this guy on the radio for the last year and a half and 91.5 I need to call him but now you're a year and a half older, you could have had paid less for life insurance. So now's the time. In other words, now's the time stop procrastinating. And men. Come on now. We were the worst when it comes to that we are we don't want to talk about it. We don't want to talk about what a life insurance policy is whether you have a life insurance policy or not. Because women I find the women of the household. They have a feeling and most women feel this way. I'm gonna outlive him by a lot of years. I need a life insurance policy on him and when She brings it up your wife brings up talking about a life insurance policy, be open to the idea of getting life insurance. Now if you have a life insurance policy that's going up on you, we need to talk we, we need to have a conversation. My contact number is 702-236-2624 702 to 362624. My Location is on a corner of Sahara and Rancho in the US Bank building located on the eighth floor, Sahara and Rancho where is that all roads lead to San Rancho. I'm right across the street from the palace station Hotel and Casino right on the corner of Sahara and Rancho U 's bank center, located on the eighth floor is 13 floors, tall brown building, you can miss it. I work by appointment 702-236-2624 702-236-2624. Even if you have if you're 50 is 40 is young and older. They just changed the rules on this by the way. If you're 40 is young and older, with HIV or AIDS, or AIDS related complications, we can get you a life insurance policy. And that says recently just happened. It used to be at age 59 at age 40. To age 85. We can get you a life insurance policy. If you had a history of cancer, heart disease, diabetes, we can get you a life insurance policy, history of stroke, you know alcohol or drug abuse, we can get your life insurance policy, don't delay this. If you have family members is out there that you know drink a little bit too much on drugs. We can sit down and have a conversation and let's get them protected too as well. We'll get you a power of attorney I have Christine Barnard she's a team member of your insurance connection. She can help you with a power of attorney to get some type of insurance on the individuals that kind of I tell wiling out in the streets. You know they have some family members have them and if you do have a family member that's out there on drugs let's get him something. Let's get him covered. My name is Don Marquez, this is your insurance connection again 702-236-2620 470-223-6262 for contact me my business hours are Monday through Friday from 10am to 5pm. Located on the corner of Sahara and Rancho and the beautiful US bank center on the corner Sahara and Rancho Las Vegas, Nevada, my hometown. I love to meet you. I do appreciate the people that did come in and purchase home auto and life insurance. You know if you don't want to come in we could do a lot of business over the phone 702-236-2624 702292362624 In draw you have hot and warm sunny Las Vegas day. That's next week. Everyone just keep it crispy. Thank you for listening.

Unknown Speaker 27:55
You have been listening to a paid program sponsored by your insurance connection. Please be advised that the voices and opinions you heard do not necessarily represent the views of K u and v Las Vegas, the University of Nevada Las Vegas or the Board of Regents of the Nevada System of Higher Education

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