It’s true eight years ago I decided to go back and get my insurance license. I thought if something happened to Ron maybe I could be helpful and it’s been a great decision and love what I do. Our concept HealthPlans4less we have a trademark which is called the better value approach. That approach basically enables us to provide you with better benefits for a greater value. We basically don’t just offer you health insurance we take a look at all of your needs and we try to put together a package that will better protect your assets and your family. And that’s what’s important to us. Being that I was a stay at home mom for many years by choice and I loved that. I was always good at squeezing a penny out of every dollar, you know to save money. So, I take that skill into what I do seriously and I really want to give you the best value for your money. So if you give me that opportunity, again I will make sure that I do that for you. One of the other benefits is that we are a brokerage. Meaning that we have the opportunity to go to the marketplace and look at every carrier in California. From Aetna to Health Net to Kaiser to United HealthCare or Sigma it doesn’t matter any carrier that makes sense to us we can offer you. We’re really here to help you find the best plan for you.Whether it be an individual plan or a group plan. That’s what we do. We are specialized and trained in that field.
I’ve met with Mark Holmes about his medical insurance and he actually had a really good plan and I didn’t recommend making any changes to that plan. So if that’s the case I will tell you that. I am not going to try to get you to do anything you don’t want to do and again I will do my best to save you money because ultimately that’s what I’m here for. Today I want to talk more about a particular product that we believe in. I think I mentioned it a couple weeks ago. It’s called the new term life insurance. Well, what is that? What is the new term life insurance? Most of you know what term insurance is. It’s a type of insurance you purchase for a particular time. It’s the most inexpensive type of insurance you can buy if you’re going to do life insurance, but the problem is statistics prove that 3% of the people who buy term life insurance ever get any benefit out of it. That means 97% of you in this room will purchase term insurance and never see a penny of it come back to you. That’s not a very good statistic. So there is a new term insurance out there today that has living benefits. Those living benefits are critical to you and possibly to see a return on your money or your investment.
So what does that mean? That means one out of three of you would use this benefit. This critical illness benefit that’s attached to this life insurance called the living benefit. I gave each of you a little brochure for you to look at. If you open up, I just want you to take a look at this with me cause sometimes when I’m speaking and you’re eating you don’t really see what the benefits are. So if you’ll open up the brochure, if you don’t have one there’s probably one beside you. You’ll notice one of the benefits is called an accelerated benefit rider. What that means is that if you were diagnosed with a life threatening illness and the doctor diagnosed that you only had 24 months to live. You could accelerate your death benefit. Let’s say you had half a million dollars of life insurance and I know I’m going to die within two years. I need that benefit, maybe I want to go to Germany and get treatment by the well renowned Dr. So and So and it’s expensive. Or maybe I want to take a trip around the world while I still have a few good months left before I know I’m going to be really sick. You can access that money and perhaps if you have a half million they may offer you. In order to do so you might have to give up a little benefit. They might give you $450,000, they’ll make you an offer. They’ll say this is what we’ll give you if you want it now. You can take some of it or all of it it’s up to you or none of it or you leave it as a death benefit. The critical part of this policy is that it gives you, the consumer, the sick person flexibility for you and your family. Instead of you saying we don’t get the benefit until you die. Well, you don’t get to see any of that and your family may go into some kind of financial spiral downward. So, that’s really important.
The Harvard School of Business published a study in the Wall Street Journal that basically says what are the causes of bankruptcy. The number one over riding cause was a medical occurrence by 55%. So, what is that telling us? 75% of these people had health insurance. Why are they filing bankruptcy? Because the doctors get paid but you don’t get paid. If you have cancer, heart attack or a stroke and you are out of the ballgame for 6 months to a year. How are you going to pay your bills? How many of us have 6 months in our checking account where we can pay our premiums and our mortgage and our food bills and everything else? How many of us really have that? They say we need at least 3 to 6 months. Well that doesn’t even really begin to get it done because most of us when we get sick like that we’re out about a year if we recover. Those are the statistics. It takes about 12 months. So, what does it mean to you? If you have this policy and it has living benefits and you ended up in, look at the next center where it says critical illness. If you had a heart attack, organ transplant, stroke, invasive cancer, blindness, end stage renal failure, paralysis and AOS. You would be able to access a portion of that money. Again, the base it on life expectancy. They’ll look at that and say you have a $500,000 policy we might offer you $50,000 to takeout early and they’ll readjust what the value of the policy is and people say yes to it or they say no.
It’s up to you but you have the access to these living benefits. The next one is chronic illness and this is very unique most policies don’t have this. It’s kind of like a long term care rider. And what I mean by that is if you have a long term care policy. What activates the benefit is what they call if you can’t do 2 living daily activities. What are daily living activities? If you look at the list under chronic illness it says: bathing, dressing, toileting, transferring, continence and eating. If you cannot do two of those things it triggers this benefit. It’s like a long term care benefit that’s built into your term life insurance policy. Well what does that mean? That could be lots of illnesses that are not stipulated in here. It could be an auto accident. It also covers where it says requires substantial supervision for cognitive impairment. So if you have Alzheimer’s dementia, lots of different diseases, Parkinson’s. All different things that are not spelled out in here but if you cannot do 2 living daily activities that would be the trigger point where you could receive some of those benefits. Instead of having no coverage. If you go out to buy long term care insurance on your own it’s very expensive. This is a way you can buy one product if you choose to. Cover many variables and save a lot of money. And this is the wave of the future. If you have a straight term policy you really should be talking to me. I will probably be able to take your term policy and maybe you don’t need that anymore. The other benefit of this policy is it goes up to 35 years. There is no term policy that goes 35 years. They go max 30 years. And I always say you’re never going to be as young and healthy as you are today. If you wait till 6 months from now and say yeah I’m ready to talk to Crystal it maybe too late. You may not be insurable. And that happens all the time.
We had a good friend of ours say I’ll do it when I get back from my trip. He never returned. He was hit by a train and killed. Freak accident. Had no insurance for his wife. A good friend of ours. We told him and told him. Please sit down and let us do this life insurance for you. He didn’t choose to do it. Sad tragic story. Not just for him, but for his wife and her future. So don’t be a statistic, don’t be a tragedy and don’t wait till tomorrow. Because if you do, I’m going to be the one feeling really sad for you. Because you know what I’m going to have to say I told you so. Life happens and life goes on and its easy to push this down and not deal with it because who want to talk about death? Nobody wants to talk about this stuff, but I have to talk about it everyday and when I do this I do this because it makes me feel good because I know you’re protected. If you have that moment where you need to pick up the phone and call me and say, Crystal, something tragic has happened in my life. I’m going to be there with you to stand with you and if anything if I could be a comfort to you I would. Anyway, that particular product is what I believe to be the wave of the future. I think it’s going to change lives and families to have this coverage because of the flexibility. On that note, I left some of these forms in the middle of the table. I didn’t actually have enough for each one of you but this is just an assessment as to how much life insurance is really needed. In my family’s situation. Most often people can’t afford what they really need, but it’s a place to start. You might need 3 million dollars of life insurance and maybe all you can afford is $500,000. But isn’t that better than nothing? And then on the back of this it talks about all life events. What is a trigger for you to have a review. And again I’m not going to make you do anything you don’t want to do. I’m going to advise you to what I think is best. And if it means I can’t help you I’ll tell you that to which I have Ok. If you’ve been married had a birth or an adoption if you’ve moved or started a new job so on and so forth, if you’re going to retire. These are all reasons that you need to have things re-evaluated and you should do it every 5 years for sure. But if any of these things happen than you should do it more regularly.
I’ve never heard of AGLA?
American General life and Accident. They’ve been around along time they’re an A rated company. That’s another good question is that I would never use a company that’s rated below an A, and the reason for that is that those are businesses that have been around they have financial stability and strength. Why would I put you with a carrier that might not be there to pay you claim when you really need them. I would not do that. That is just our philosophy. Any other questions?
Do you carry a regular product of disability or long term health care?
Yes, I can do long term health care. The best product on the market. It’s a very closed market. A lot of companies have pulled out of California. There is a lot of uncertainty with the baby boomers in the marketplace. What’s going to happen with long term health premiums cause they’re not guaranteed to stay the same. The one thing about this product is the rate is guaranteed for whatever term you buy it for. It will never go up. So if you want long term care, yes I can help you with that, GenWorth is probably one of the top carriers in California. Thank you very much.
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