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Insurance Ads

Since I did have one view of my blog today, I thought I had better write something worthwhile to read.

Insurance Ads. We see them all the time in emails, in the form of an ad on a web page, in the mail, and even coming home from our kids school. They are always promising the lowest rates in the industry. They tell you that a 10 year Term Insurance policy will cost only $10 a month. I am not sure who buys insurance from these companies, but they are obviously used due to the constant exposure I see.

The bottom line is: please don’t buy insurance from these people. They just sit behind a desk and crank out policies all day. They don’t care what you buy as long as they keep selling more policies. What you need to do is sit down with an independent insurance agent or financial planner and determine exactly how much insurance you need and where it fits into your life. The insurance company charges a fixed price that they have determined to be appropriate. Whether you buy it online or from someone you actually sit across from, it will cost the same amount. The rates they are giving you are probably for a 25 year old in perfect health also. The insurance company will be the one determining what health class you are in and what rate to charge.

For those that don’t understand insurance terms: 10 year Term is a policy for a stated amount that will pay out that amount if you passed away any time in that 10 years. If you had a $500,000 20 year term policy, you would pay your monthly fee and if you passed away in a day or 19 and 1/2 years, the insurance company would pay your survivor $500,000 of tax-free money. Term insurance is the simplest form of life insurance. There are several other forms that build cash value, but not necessary for most people. It just depends on your situation.

So, if you want to look at insurance rates, call someone who will talk with you and help you determine how much insurance you need and with what company. A financial planner is best because they can determine how it fits into the big picture of your goals. There are also lots of good insurance agents out there. I work with several for health insurance and property and casualty. The key is to find an independent one you can trust.

comments always appreciated

God Bless

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“Why I’m here”

Well, I guess I shouldn’t write anything about the financial world since this is my first post and I am the only one who may read it for a while. I have created this place to write my challenges and joys learning to be a financial planner. Insurance is a tough business. It is a business that seems fairly simple on the surface, but when used correctly, can create large amounts of money from nothing. Most people believe they understand the products and know how it all works.

This is my first challenge. I must convince people that I can help them and save them money in the same aspect if they will only give me a few minutes of their time. Most people are suspicious, and/or don’t believe what I am telling them. I don’t blame them one bit. Some of my least favorite people to deal with are salespeople. I do sometimes wonder why God has placed me in this profession. It is tough to get started, but once you get going can be much easier.

I will be writing about the knowledge I gain that could be useful to any reader and how it relates to your life. It is such a joy to step into the calling God has placed on my life. I want others to benefit from what He is doing with me.

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