How To Become A Conscious (Life Insurance) Consumer

Insights into why people buy - or postpone buying - life insurance. Studies from the disciplines of neuroscience, psychology, religion, and spirituality are called upon to explain consumer behavior.

Yes! Capitalism is, indeed, moral.

c4eca364d5821f294a0006dffe6df4193bf932efRenowned economist Walter Williams of George Mason University has an enlightening five-minute lecture on the topic, “Is Capitalism Moral” on Prageru.com. Here are some of the points that struck home for me:

The free market is morally superior to any other economic system.

It is based on voluntary – and mutually beneficial – actions between individuals, without coercion. If I want something from you, I have to do something for you.

It is not a zero-sum game; it is a positive-sum game.

Both parties are better off because both parties win. It is the government that creates zero-sum games. The benefit that one citizen receives is at the expense of his or her fellow citizens.

True free-market capitalism will keep corporations in check.

It will force them to compete in the marketplace and be accountable to customers and stockholders. It is only when the government interferes that corporations lose this accountability and do not have to compete. The free market means limited government: you and I decide which businesses survive.

I thank God every day that I live in a country that promotes a free market. I don’t think I could have built such a successful life insurance sales practice anywhere else.

Please feel free to comment, or to contact me directly with a specific question. If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com. I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Life Insurance Can Prevent Poverty

erase-poverty-326x235I live in a small town in northern New Jersey (population 30,000+). When good things happen, you know (especially since the mayor posts on Facebook nearly every day :). When bad things happen, you hear about them too. Let me tell you one sad tale from a few years ago.

A young couple with a young family. They were in their early 30s. They already had five young children, with another on the way. He worked various jobs to make ends meet. She stayed home with the kids. He was overweight, a diabetic, and a smoker.

You can guess what happened: severe heart attack. Fortunately, the end came quickly.

The family had very little money. She had no job. And he had no life insurance. The community rallied behind the surviving family as best we could. Of course, no one could expect neighborly assistance to support the family forever. You can bet they are still struggling.

You can also imagine the difference a life insurance policy would have made for that family. Bills would get paid. Rent. Food. Clothes. Medicine. Books. No need to worry about any of it. The heartache of poverty could have been spared.

Maybe the young widow will get lucky and marry a rich guy who will take them all in. Maybe she’ll find the intestinal fortitude to make something of herself and take care of seven kids at the same time.

I truly hope it works out for this family. But I do know that had there been life insurance, the suffering of poverty could have been avoided.

Economist John Goodman talks about preventing proverty. In a recent Forbes article, he writes:

We now know a lot about how behavior affects poverty. In fact, if you do these four things, it’s almost impossible to remain poor: Finish high school Get a job, Get married, and Don’t have children until you get married.

I would humbly add to this list a #5: buy life insurance.

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Faith, Football, and Life Insurance

-DistantDo you know one big reason why many people have trouble relating to life insurance? It’s because it deals with their death. And who wants to talk about that?

This natural and understandable reluctance to face one’s mortality makes the job of the life insurance salesperson harder. The fact of the matter is that any one of us could die today. Or tomorrow. You really don’t know when your time on this planet will be up.

Facing death is tough!

It takes quite some sensitivity and coaching to encourage a prospective buyer to appreciate that reality, and get motivated to buy now. If he or she waits, it might be too late. Their family, business, estate, and favorite charity could unfortunately lose out.

I have found that in some cases, religious people have an easier time facing their mortality. It is important to them to have a “good record” when they face their maker. They often see the purchase of life insurance as accomplishing that. It is an act of love, and caring, and responsibility.

Football men of faith.

It is interesting to note that the starting quarterbacks in this is Sunday’s Super Bowl are both men of faith. The spiritual beliefs of both Peyton Manning and Cam Newton have been widely quoted. Here is a summary.

One statement in particular from Peyton stands out to me, because it reflects the understanding that he may die today:

“My faith has been number one since I was 13 years old and heard from the pulpit on a Sunday morning in New Orleans a simple question: ‘If you died today, are you 100 percent sure you’d go to heaven?’” Manning wrote in his book called “Manning: A Father, His Sons and a Football Legacy” (which he authored with his dad Archie, a former NFL quarterback, and John Underwood).

Certainly a core question that we all need to answer, both when we manage our finances as well as when we conduct our lives in general. It makes sense that these great leaders on the football field would be great leaders of their own lives.

Do you agree?

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Should Millionaires Get Obamacare Tax Credits?

The Dailysignal reports that financial advisors are helping their millionaire clients receive Obamacare tax credits.

How can this happen?

It has to do with eligibility requirements based on income, not assets. The report describes the law as an “income-related welfare benefit.” If the millionaires are receiving taxable income lower than the maximum allowed, then what they are doing is perfectly legal. Even if they have substantial assets.

I don’t think this is quite what the law intended, do you? I mean, wasn’t the law supposed to help poor people? Read the rest of the article and tell me what you think. To get the discussion started, I’ll put some of my points on the table now.

Here’s my two cents:

I think Obamacare should be repealed. The government has no business in the health insurance marketplace. Insurance is not an entitlement.

Nothing wrong with being a millionaire. In our great country, everyone has the chance to be one.

Also nothing wrong with rich people taking advantage of laws designed to help poor people. Their advisers would be remiss if they didn’t tell clients to do so.

Should rich people refrain from applying for tax credits they don’t really need? That is an individual decision. I personally think rich people get gauged enough by an onerous tax system that nobody could blame them for taking advantage of every little break.

Maybe the government should stop passing laws that favor one part of the population over another. Creates nothing but class competition.

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Congratulations! You Are Now $58,000 in Debt.

images5PXO90TGPeople often buy life insurance to cover debt. They take out a mortgage to get on the road to home ownership. But, they don’t want their spouse to be saddled with the debt if they unfortunately die prematurely. They take out life insurance so their surviving family can be debt-free.

Men and women starting businesses take out life insurance to get a bank loan. Lenders typically want a policy to be in force before they will release the funds. They don’t want to have to chase the surviving family if the lendee dies before the loan has been repaid.

Students will take out life insurance to cover their college loans. They sometimes have to borrow hundreds of thousands of dollars to get a higher education. If their family should tragically lose them, they don’t want to run the risk that the lenders will come after their parents.

Life insurance is even used to cover private loans. Sometimes one family member will lend money to another in times of hardship. The loan is really just a stopgap measure until the ailing family member can get back on his or her feet. The honorable thing to do is to make sure the generous family member is made whole in case the borrower dies before the money has been paid back. A short-term life insurance policy does that.

Just a temporary fix.

In all these cases, the borrower understands that the debt is intended to be a stopgap measure only. Temporary. Simply a cash infusion to get to the next stage of life. Debt is never supposed to be a way of life in and of itself. If you and I knew someone who made it so, we would think that he is being irresponsible. Taking advantage of others. A bad risk. How could he ever pay back the loan if it grows larger and larger and larger?

What, then, do we make of the federal government? The news of the day is that the US national debt just hit a new record. I quote here from economist Romina Boccia:

On Monday the U.S. national debt hit a new record: $19,012,827,698,418. This is the first time the national debt has ever exceeded $19 trillion. That’s more than $58,000 for each person who lives in the U.S. today (including children).

Is this any way to run a country?

How did we get into this mess?

The main culprit behind the rising deficits and debt is growing federal spending—especially among Social Security, Medicare, Medicaid, and Obamacare.

Tell me something: why on earth would the government take on more obligations when it can’t meet the ones it currently has?

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Our Country Needs a Policy Audit

magnifying-glassIn the life insurance business, we promote the practice of auditing your policy on a regular basis. That policy serves as the bedrock of your financial security. You need to make sure it is still performing as expected.

Why? Because things change. Life changes. The circumstances that were in place when you originally bought the policy, very likely have changed.

Maybe better deals are available in the marketplace. Maybe your needs have changed, and the face amount and guarantee period have to be adjusted. Maybe coverage is now needed on your spouse. Kids. New business partner. New key corporate personnel.

Makes sense, right? Of course it does. It’s all a matter of keeping your finances strong.

Medical practitioners have been promoting the idea of a “health policy audit” for years. That’s why we need to get annual check ups. Maybe we have to adjust our diet. Exercise routine. Frame of mind. Make life changes. Leave a bad job? Take a vacation?

Makes sense, right? Of course it does. It’s all a matter of keeping your health strong.

My father used to call it planning your work and working your plan. Staying in touch with your core mission and making the changes needed to stay on track. All the financial success experts suggest it. All the human development gurus advocate it.

Now here’s the question: when was the last time you heard a politician call for it?

These men and women set policies that affect the life of every citizen, as well as the nation as a whole. Foreign relations. Immigration. Environment. Energy. Jobs. National unity. What they do impacts the lives of over 300 million people, not to mention the lives of billions of others across the globe. We are, after all, the United States of America – a supposed world leader.

You would think that these people in Washington – more than anybody – would know the importance of auditing the policies they design and implement. When they get it right, great things can happen the world over. But when they get it wrong, bad things can happen – the world over.

At the very least, these people owe us an audit on an annual basis. The State of the Union should really be a leadership self-assessment to make sure we are still on track. What’s working? Leave it alone. What’s not working? Get rid of it. Try again.

When you and I mess up, it could impact our own lives. Our families. Businesses. Communities. It is incumbent upon us to learn from our mistakes, put fixes in place, and move on. For the better. We can’t get away with denying problems and whitewashing the picture. It all hits too close to home. A good, hearty, audit of the way we run our lives is the least we owe the people who depend on us.

Our politicians owe us the same thing, Big time. We should all be reassured that the government is in good hands.

Makes sense, right? Of course it does. It’s all a matter of keeping our nation strong.

Thank God we have elections. Maybe next time we’ll get leaders who know they owe us some policy audits.

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Should You Wait to Get Married?

downloadBack when I got married, it seemed that young people for the most part followed this path:

Find the right girl (or guy)

Get married

Start a family

Get a house – or get on the road to buying a house some day.

Along the way, they would, of course, buy life insurance.

Today, it seems that this is less of a trend. From a business point of view, this is no big deal. Single people can still buy life insurance. Single parents can still buy life insurance. Domestic partners can still buy life insurance. Being married is certainly not a precondition to buying a policy.

But I wonder why fewer people seem to be tying the knot? Dennis Prager addresses this topic in a thought-provoking article on his website. Here are some of his very interesting conclusions:

You don’t have to be in love to get married.

If you wait until you are older to get married, you do not decrease the possibility of getting divorced.

It makes no sense to wait until you earn more money.

There is no such thing is “feeling ready.” You “act married,” then you’ll “feel married.”

This perspective seems to be contrary to common thinking, don’t you think? Tell me whether you agree or disagree, and why. PS: in the interest of full disclosure, I got married at age 26 and last year celebrated my 32nd wedding anniversary. My father got married at age 32 and had been married almost 58 years when he passed away.

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Would Our Children Grow Up More at College or at McDonald’s?

imagesI think that for many of us, college was a growth experience. We had to choose a schedule. Manage our lives to get to class on time. Get along with roommates and classmates. Work at jobs and internships. Pay our bills.

College was a necessary transition point into the “real” world in which all of this and more would be expected of us. It was also something larger: a place to broaden our minds and get the big picture on society. To learn how to judge what was working and what was not. To ask where improvement was needed, and how could we ourselves become part of the solution and not part of the problem?

Wouldn’t it be great to have college graduates across the country who are ready, willing and able to change society for the better? Who have a good sense of themselves as individuals, but who also have the skills needed to lead, and to work as a team? Who are able to tackle issues, and not attack people? Who have the maturity to deal with peoples’ guff and grief, and not make a big deal out of everything? Who have perspective?

Yes, indeed. Men and women like this make good citizens, good employees, and good employers. Good business people. And happy people. And happily married people.

Unfortunately, sometimes the college experience falls short of providing this training. When it does, other institutions can often pick up the slack in the maturation process. Here is a report from one college freshman about how working at McDonald’s helped her grow in ways her college cannot.

Please take a look and tell me what you think.

Feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Does God Want You to be Rich?

download (1)Does God want you to be rich?

Yes, indeed He does. No doubt about it.

You do understand that I am not speaking for God. I have no prophetic powers, and even if I did, I would still be speaking for myself. But even those of us who are not prophets need to try to see things from God’s point of view. It is, after all, His planet, and we are simply setting up camp here for a while.

So what exactly does God want from us while we are here? And could great wealth help us get that done?

Heal the sick? Feed the hungry? Clothe the naked? Shelter the homeless? Your wealth could help many, many people retain their dignity.

Fund a new business? Help people find a job? Support people without a job until they get a new one? Your wealth could help many, many people become self-sufficient.

Design a way to distribute clean, safe, and affordable energy across the globe? Provide a way to monitor media for national security but still protect privacy? Your wealth could help improve society with needed products and services.

Advocate for human rights? Secure civil liberties? Prevent abuse of power? Pursue justice for all? Your wealth could promote the legal and political reforms needed to secure the freedom of every man, woman, and child.

I think the world needs people with a ton of money putting that money to good use. If you are in a position to get more than you have right now, then go for it. And, frankly, I think most of us could be wealthier if we put our minds to it. We all could and should be rich.

There is such a thing as good wealth. It is wealth that makes our world a better place. God has designed life on the planet in such a way that we can make it a good or a bad place in which to live, or somewhere in between. Why not make it the best place possible? It is within your power to do that. And lots of good money can make that happen.

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

“I Am a White, American, Male Millionaire. How Do I Make People Not Hate Me?”

large_RuNhYY6wxgY1Isw8irR22HxCOIMfVRTm-g6Ne3eTtEU

Successful people have many problems. One would think that in becoming a millionaire, the worst would be over. Unfortunately, for some people the trouble is only beginning.

These days, one of the big problems is being hated! Can you imagine?

Here is how one millionaire put it on Quora:

I am a white, American male who is a millionaire. How do I make people not hate me?

I wanted to expand on this. People hate me who don’t know me. As a white male, I am now “Privileged”, and apparently get everything handed to me. As a millionaire, I am a tax evader, even though I pay more money in taxes in one year than the average person will pay in their entire lifetime. People seem to think that I sold my soul (or their’s actually) to get to where I am. I constantly hear that people are poor and suffering and struggling because of me and the things that I do (re make money). I feel like the people in America want to burn me at the stake instead of viewing me as a success story of what is possible in America.

This is how I tried to help him.

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How Much of Mark Zuckerberg and Priscilla Chan’s Money are You Entitled To?

charityAre people who are critical of Mark and Priscilla’s donation more like Robin Hood, or the Sheriff of Nottingham?

I am sure you have heard the wonderful news: Mark Zuckerberg and Priscilla Chan have a new daughter, Max. Mazal tov! They are doing some pretty heavy-duty estate planning for both her benefit and mankind. It’s called the Chan Zuckerberg Initiative, LLC, and is a family-run foundation. Here is a news bulletin on it.

Good for them. I hope that we all have the money to do what they are doing.

Let me ask you something:

Do you think that the world can tolerate only a fixed amount of rich people? That for every rich person there must necessarily be a poor person? Or worse, a thousand poor people for every one person with money?

That seems to be the viewpoint of people who are criticizing Mark and Priscilla for their good deed. Their complaints are instructive for getting a firmer understanding of wealth and estate planning. More than that: they point to what I think is a misinformed notion of morality.

Here are some examples:

Complaint #1: Mark and Priscilla will realize tax benefits when making their donations.

To quote the Daily Beast:

Mark Zuckerberg doesn’t need massive tax benefits to do whatever he wants. He can just do whatever he wants. But he will get those tax benefits and estate planning benefits and he’ll be able to give up his stock while holding onto power over his company. So will others. Yermack’s work reveals that, in aggregate, when we pay people like Zuckerberg to fund their own foundations, we are really helping the rich and coddled few even as we thank and honor them for their charity.

Here are my questions:

Are we looking for some type of “moral purity” in people who are generous? Is their gift somehow “tainted” if they benefit in the process – even if the benefit is just to pay less taxes than they would if they had used another legal tool for the gift?

What is so bad about rich people getting to keep more of their money so they can put it to further use for the betterment of society?

It doesn’t seem fair to castigate people who take advantage of existing tax laws. If people think we have an unbalanced taxation system, then they should fix the system. That should not involve attacking people who are legally and legitimately making use of it. Does that seem fair to you?

Complaint #2: Mark and Priscilla will control where the money goes.

To quote Medium.com:

It is absolutely fair and necessary to be critical of Zuckerberg’s philanthropic efforts, both past and present, to ensure that this gift of $45 billion dollars is put to good use…   The most valuable path may well be to simply invest this enormous pool of resources in the people and institutions that are already doing this work (including, yes, public institutions funded by tax dollars) and trust that they know their domains better than someone who’s already got a pretty demanding day job.

Here are my questions:

Since when should a private donation be considered public property? By what right is anyone entitled to tell somebody else what to do with their money?

If people don’t like the way Mark and Priscilla are allocating their money, aren’t they free to allocate their own money the way they see fit?

If Mark and Priscilla had obtained their fortune illegally or unethically, then people could legitimately protest. Then you could say that one person’s illicit gain was another person’s tragic loss, and justice must be served. But if they got their wealth through entrepreneurship and smart financial management, then no one has a right to complain. Do they?

I get the feeling that people who are criticizing Mark and Priscilla are trying to play Robin Hood, but in a misguided way. Robin Hood did not steal from the rich to give to the poor. He took back from the Sheriff of Nottingham the money this tyrant had stolen from the people of the land, and returned it to their rightful owners. To me, going after people’s money that is not yours is a bit too much like what the Sheriff did, and not Robin Hood. What do you think?

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

I’m Healthy Now! Should I Reshop My Life Insurance?

AAEAAQAAAAAAAAjCAAAAJGJkNzFhNGU3LTgwYTktNDU0ZC05MzkwLTAyMGM4ZTE0NGZhZQYes, you should. You have nothing to lose!

I get asked this question a lot by clients who originally bought life insurance when they were dealing with a serious illness. Hepatitis. Diabetes. Heart disease. Recent cancer.

But that was ten or fifteen years ago. Now you have successfully completed treatment! Or you have modified your lifestyle for the better. You are stable. Your labs are good. Your physician has made all kinds of nice comments about you in your medical file 🙂

You are healthy! Would it be possible to reduce the cost of your coverage? Let’s give it a shot!

First I will try to get us into a price ballpark. This way we can determine what savings just might be available. If those numbers look good, then we can go through full prequalification.

All this takes place before you submit a formal application, of course. We don’t want to raise false hope or waste anyone’s time.

If it looks like we can get a better a deal, then by all means you go through underwriting. It goes without saying that you do not drop your current policy until the new one is in place. We DO NOT want a lapse in coverage.

And rest assured: your attempt to get better pricing from another company will in no way violate your contract with the current carrier. As long as you keep paying that premium, they are stuck with you 🙂

Here is the bottom line: since you are now healthy, you may very well qualify for a lower life insurance rate. Prequalification is a short and sweet way to find out. Take advantage of it!

Thanks for dropping in!

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818. Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Recent posts, including “What are the top 3 reasons people don’t have life insurance?”

recent-posts3Here are some of my recent posts on the topics of life and life insurance.
I feel strongly that the more people know about the product, the more comfortable they will feel buying it. Simple as that!
Feel free to share them.

“What is a dependent on life insurance?”
http://www.insurancelibrary.com/life-insurance/what-is-a-dependent-on-life-insurance#comment-27304

“How relevant is “Think and Grow Rich” in 2014?”
http://www.quora.com/How-relevant-is-Think-and-Grow-Rich-in-2014/answer/Steve-Kobrin-1

“Can I Get Whole Life Insurance If I Am A 24 Yr Old Felon Out On 1 Yr Probation?”
http://www.insurancelibrary.com/life-insurance/can-get-whole-life-insurance-24-yr-old-felon-1-yr-probation#comment-27293

“Can An 83 Year Old Get Life Insurance?”
http://www.insurancelibrary.com/life-insurance/can-an-83-year-old-get-life-insurance#comment-27280

“What Is The Purpose Of Whole Life Insurance?”
http://www.insurancelibrary.com/life-insurance/what-is-the-purpose-of-whole-life-insurance#comment-27277

‘What are the top 3 reasons people don’t have life insurance?”
http://www.quora.com/What-are-the-top-3-reasons-people-dont-have-life-insurance/answer/Steve-Kobrin-1

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Breast Cancer: A Life Insurance Deal…Maker?

Some people have a tough time getting life insurance.

This is especially true of people with a cancer history.

Women with a history of breast cancer can sometimes feel it’s almost impossible to get a policy.

But the good news is that it could be easier than you think…

Breast cancer can actually be a deal-maker, not a deal-breaker!

Reason to be Optimistic

Financial writer Barbara Marquand does a solid job of addressing this issue for NerdWallet.

Here is one of her key points:

“Don’t despair if you get turned down for coverage by one company. The underwriting process varies among insurers, which is why it’s so important to get quotes from different carriers….don’t be afraid to apply for life insurance.”

I can tell you from first-hand experience that there is hope for people who have a history of breast cancer to buy life insurance.

This is important because breast cancer is unfortunately very common.

Many of us know someone personally who has had to treat it.

These folks need life insurance as much as anybody else – perhaps more so.

Get Prequalified Correctly

It is certainly true that a broker who knows how to handle the risk factor, and what questions to ask, will be able to get you good rates.

Here’s what else you need to know:

  • Prequalification is essential. It is possible to identify the company, product, and price before you apply. Your broker should be able to effectively pre-underwrite you to confirm that going through formal underwriting will be worthwhile. You do not want to use underwriting to get a quote because that could waste your time, and also produce an unnecessary flag on your record of insurance applications.
  • If you are not eligible for coverage now, you may be at a future point. Your broker should be able to tell you what circumstances prevented you from qualifying for a policy now, and what those circumstances need to be in order to qualify in the future.
  • Application problems in the past don’t have to affect the future. Many people are declined or rated for coverage unnecessarily. They had applied with the wrong company, or were not effectively prequalified. If your broker can successfully account for these misdirected efforts, then they do not have to affect your eligibility for coverage going forward.

Your Insurability Must be Managed Closely

Managing insurability is part and parcel of financial planning.

Many times it takes specialized expertise to help a client become eligible for coverage.

The services of a life insurance specialist are key to the planning process.

How about you? Have you – or someone you know – tried to buy life insurance with a cancer history, especially breast cancer? How did it work out?

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How to Show Gratitude Through Acts of Benevolence

What makes people brave?

How can heroes perform mighty feats?

Why do people stand up to evil?

They all tap into extraordinary power – power that helps them help others. Even save others.

It’s called gratitude.

Gratitude Can Save Lives

Sir Nicholas Winton organized the rescue and passage to Britain of about 669 mostly Jewish Czechoslovakian children destined for the Nazi death camps before World War II, in an operation known as the Czech Kindertransport.

Here is a video of a tribute to him that will bring tears to your eyes within 20 seconds.

Sir Nicholas was in a position to make a tremendous difference in the lives of many people.

And he did so – at great personal risk.

And what do you think fueled his exceptional bravery?

I am willing to bet it was gratitude.

Gratitude Leads to Benevolence

When we show gratitude, we show the world that we do not take for granted our good fortune.

We communicate that the good things in life that happen to us are tremendous gifts.

We show that we feel especially privileged to benefit from such gifts, and that they are to be shared.

This recognition keeps us humble, and so we can see the needs of others less fortunate.

It is not just a question, however, of saying, “”It’s good to be grateful,” or “Look for opportunities to show gratitude every chance you get.”

Here’s what else you need to know:

  • Sir Winston must have felt tremendous gratitude for his lot in life. That was the source of his outstanding benevolence towards others – especially children in dire need. It was also the source of his tremendous strength. Even people who have status and power must be strong enough to stand up to evil.
  • When people of power do the right thing, lives can literally be saved. They have the means and connections to give hundreds and thousands of people a second chance at life. It is especially important for them to do so when governments and armies are committed to the destruction of others.
  • It is too easy to hide your eyes and not take action. People can kid themselves into thinking that their status and position will save them. But that is squandering the good fortune they’ve experienced in achieving that status and position. To not help others is really to express ingratitude for the power you have. It must be used to benefit others.

Power to do Good

Times of war and great evil are exceptional. For so many people, life is in the balance.

In more normal times, however, the same ideas hold.

People who achieve wealth and power – the world class – are positioned to do tremendous good.

Their money, their connections, and most importantly their benevolent attitude can improve the quality of life for multitudes of people.

This benevolence is a pure expression of the gratitude they feel for their good fortune.

The Joy of Sharing the Gift

Everything we achieve in life is a gift.

The real joy in receiving that gift lies in sharing that gift.

When we feel gratitude for what we have, sharing it comes naturally.

Our acts of benevolence demonstrate the gratitude we feel.

In certain times, these acts of benevolence can literally save lives.

In other times, they can certainly help many people.

What do you think? Do you truly feel grateful for what you have? Is it easy to share?

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How to Trust Your Wealth Advisor

How do you know you can trust somebody?

Simply because he says, “trust me?”

Or because he holds an important office, or a fancy title?

Or that he advertises himself as an “advisor?”

Not enough for you.

The key is making people prove they are trustworthy.

Trust Based on Sweat Equity

Marcus Aurelius talks about this in his Meditations:

“From Fronto: To recognize the malice, cunning, and hypocrisy that power produces, and the peculiar ruthlessness often shown by people from ‘good families.'” – Meditations, I.11

Here’s the bottom line: trust must be earned.

Looking Behind the Scenes

We all need to be able to trust others.

This includes family members, friends, and business associates.

But how do we know we can trust somebody?.

This is especially important when peopler have political power, or financial power, or are considered experts.

It’s not just a case of, “power corrupts, and absolute power corrupts absolutely.”

You have to be able to look behind the fascades of power.

  • Just because somebody has authority, doesn’t mean they should have power. Titles are just names. Authority means you have the ability to control and influence people’s lives. Power over the people must come from the people.
  • Social status doesn’t mean much. It is easy for people with money or connections to buy prestige. This doesn’t mean they are role models. Their benevolence towards other is what should lead people to look up to them.
  • Character is what people show behind closed doors. What people say to your face is one thing. What they do behind your back could be something else. But if the two are consistent, then at least you know who you’re dealing with.

No Advisor Should Take You for Granted

We all need wealth mentors and advisers.

We cannot grow without the proper counsel.

Many people have achieved wealth, but how many are worthy of our trust?

The right ones will continually seek to earn it.

Eagerness to Prove Trustworthiness

Trust is something that can’t be taken for granted.

Even if people are worthy of your trust today, circumstances might change tomorrow.

They then have to prove that they are once again worthy of your trust.

Should you give them the benefit of the doubt, based on past performance? Sure.

But if they have the right character, they will want to come through for you again.

Your trustworthiness is something you should want to show, every chance you get.

What do you think? Are you able to trust people? How?

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Do You Get Respect by Giving Respect?

caningAre some people in your life constantly correcting you?

Do they jump on you every time you mispronounce something, or use incorrect grammar?

Do they make debates personal, as opposed to sticking to the point?

These folks may be well-intentioned, but they do need to learn some respect, don’t they?

Good news! You can teach them.

Quick and Easy Tips

Marcus Aurelius has some solid lessons about this in his Meditations:

“From the literary critic, Alexander: Not to be constantly correcting people, and in particular not to jump on them whenever they make an error of usage or a grammatical mistake or mispronounce something, but just answer their question or add another example, or debate the issue itself (not their phrasing), or make some other contribution to the discussion – and insert the right expression, unobtrusively.” – Meditations, I.10

He shows us how to be respectful and considerate.

When you correct somebody about something – it could be about any topic – it is essential to preserve their dignity.

YOU could be in their shoes

What goes around, comes around.

Remember that next time, you could be on the receiving end of advice, not the giving end.

Then, you’ll see it’s not so easy to simply say to somebody, “Don’t say ‘No,’ say ‘Yes, and…'”

There’s a bit more to showing respect:

  • Nobody likes a know-it-all. The goal in life is not to be right, but to be righteous. This means you give everybody the respect they deserve.
  • People need to willingly accept your advice. If you give it the wrong way – in a way that brings them down – they will not be open to making changes. If you offer it in a way that builds them up – constructively – they will want to adopt it.
  • People aren’t always the issue. Stick to the topic. Don’t make it personal, and they will understand better what you mean.

Don’t Forget: There are Two Sides to Every Story

There is a financial know-it-all in every newspaper, magazine, and website.

Too often they think they are right, and that people who disagree with them are wrong.

Some of them sing the praises of term insurance and ignore the benefits of permanent insurance.

Some of them hawk permanent cash insurance as the investment of the century.

There is always another side to the story when it comes to financial planning

There is a Graceful Way to Advise People

If you care enough about somebody to advise them, it makes sense to want that advice to stick.

This applies to advice about life, love – and especially money.

After all: for whom is this advice, anyway?

If you want to just to toot your own horn, then why waste their time?

But if you want to make an impact, then treat them with respect.

What about you? Are your advisors treating you with the respect you deserve?

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Why You Need a Life Insurance Specialist

Who are the financial experts these days?

It’s really not a mystery.

Planners help you with planning.

Investment advisors help you with investing.

Insurance advisors help you with insurance.

And within each field you have your specialists. So life insurance advisors help you with life insurance.

Together, we form a team.  YOUR team.

Specialists Play a Special Role on Your Team

Every now and again I am prompted to remind you of the need to form a team of specialists to work on your finances. Recently, I came across a reply from Dave Ramsey to one of his many readers. The issue was the declination of the reader’s child for life insurance, due to hemophilia.

Here was Dave’s point:

“Unfortunately, you’re going to have a difficult time with this situation. It’s generally pretty hard, for obvious reasons, for hemophiliacs to get life insurance. I hope you understand that’s a statistical statement, not a spiritual statement.

You can always cover him as a child by building an emergency fund over and above the three to six months of expenses I normally recommend. A child rider is just a small policy to cover final expenses and things like that, so you could self-insure by saving up in the event — God forbid — of a worst-case scenario. An average funeral today costs around $7,000 to $10,000. You could always spend less, but if you guys have reasonable safeguards this isn’t a situation you should be facing. I mean, there are probably some things he just shouldn’t do from a common sense standpoint, right? But lots of folks have long, wonderful lives with that particular condition.

It might be that as research on the disease progresses and as he gets older, there’s a possibility that he could qualify. Think about this. If you even whispered a word like “cancer” anywhere near your name 25 years ago in the insurance business, you were done — no life insurance of any kind.” – Dave Ramsey writing for The Oklahoman

Dave does a superb job of identifying and addressing the multitude of issues that pop up in financial planning.

He also tries to help his readers feel positive about their situation.

I would like to add some words of encouragement as well.

In this particular case, I would like to supplement his advice with the knowledge I have as a life insurance specialist.

Because the fact of the matter is that hemophiliacs can get life insurance – and that includes juveniles.

And there are reasons to buy life insurance other than final expenses. Especially on juveniles.

The Special Needs of Juveniles for Life Insurance

Even people with serious medical conditions can get life insurance.

It is often priced quite reasonably.

This includes hemophilia, as well as diabetes, heart disease, and many other ailments.

Now, it is true that you can rely on an emergency fund in order to cover small expenses over a 6-12 month period, following the death of a loved one.

But if you really want to make a sound decision regarding life insurance on a child with hemophilia, it is important to remember the following:

  • Financial experts are often limited in their understanding of specific fields. They can provide sound advice about overall planning. However, they are also often limited in their understanding of specific products and marketplaces. When it comes to life insurance, they are often limited in their understanding of underwriting, and of the need to secure someone’s insurability.
  • Hemophiliacs can get life insurance. Underwriters look at elements such as coagulation factors, the frequency of episodes, the number of transfusions, etc., in assessing the risk presented. The amount of extra premium assessed to cover a higher risk can be surprisingly low given the right circumstances. It can be very affordable.
  • There are several reasons to buy life insurance on a child. It is not just a question of covering final expenses in case that tragedy occurs. Children with serious disease often grow into adulthood needing life insurance for personal and business reasons. It is much more expensive for them to purchase a policy when they are older. When their parents buy a policy on them as a child, they are able to lock in the lowest rate available.

And you always have to remember that they may unfortunately not qualify for coverage as an adult.

In that case they will be really grateful you had bought them the policy when they were a child.

Underwriting is a Field for Specialists

When discussing the potential role life insurance could play in a family’s financial planning, a life insurance expert should be consulted.

A family will benefit from the highly specialized understanding of underwriting.

They can then can make a truly informed decision about what options they may have.

What do you think? Do you have the right specialists on your financial team?

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How YOU Can Have the Confidence of a Champion

What is the hallmark trait of a champion?

Confidence has to be at the top of anybody’s list.

Are people born self-confident?

Maybe a little bit. But to achieve championship status, you have to work hard at it.

A good mentor can help you get there.

And that mentor could be your father or mother.

A Teacher for Life

Tiffani Hernandez wants to become an Olympic-caliber javelin thrower.

Unfortunately, she recently reached a plateau in her training.

Who do you think helped her get to the next rung of her achievement ladder?

Her coach?

A training specialist?

Nope.

Her father – and he doesn’t even throw the javelin:

Clearly, he didn’t need to throw the javelin – or even be an athlete – to help his daughter make progress.

He just had to be a great mentor in life.

Because a great mentor in life can help you renew the confidence you need to reach your potential – in all areas.

Parents Can be the Ideal Life Coaches

We all need to learn how to apply natural laws to improve ourselves.

Our parents can help us learn these life lessons because our success in life is their chief concern..

Sure, everybody says that “‘parents have a lot of wisdom to offer their children.”

And that “children need their parents support in order to succeed.”

But there is a lot more to the mentoring our parents can give us!

  • A caring mentor can help you grow even if he is not a specialist in your field. You can trust him to help you look at yourself honestly. You can feel comfortable sharing with him your frustrations and confusion. He will help you move past your inner blocks.
  • A weakened self-confidence is often at the core of personal failure. We sometimes set our goals too high, and get disappointed in ourselves when we fail to achieve them. We then lapse into an “all or nothing mindset” where if we can’t achieve perfection, we can’t achieve anything.
  • Incremental changes work. Often times it is only a few small problems that can throw off the overall performance. By breaking down the execution into its component parts, the problem areas can be identified. Then small adjustments can be implemented to get everything else back in working order.

The Path to Riches Requires Life Mentoring, too

People are capable of earning and accumulating 20 times more wealth than they think they can.

A good Financial Mentor is really a good life mentor.

If you get on track for being all you can be in all areas of your life, then you will succeed financially as well.

Confidence and Gratitude

No doubt, people who have achieved greatness throughout the ages very frequently had a great mentor.

In many, many cases, that mentor was a parent.

These parents gave their children the confidence needed to succeed, and succeed again.

And that confidence is something for which the children can be forever grateful.

It will help them succeed in all areas of life – including, very importantly, finance.

What about you? Was your mother or father a good mentor? How?

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Why You Want to Be Grounded for Life

Every kid hates being grounded.

It means you did something really wrong.

But for adults, being grounded can mean you’re doing everything right!

As a matter of fact, remaining grounded should be one of your life objectives.

It’s all a question of keeping your feet on the ground.

Father Knows Best?

Marcus Aurelius praises the virtue of keeping your feet on the ground in his Meditations.

“From Sextus:
Kindness…
An example of fatherly authority in the home. What it means to live as nature requires…
Gravity without airs…
To show intuitive sympathy for friends, tolerance to amateurs and sloppy thinkers. His ability to get along with everyone: sharing his company was the highest of compliments, and the opportunity an honor for those around him…
To investigate and analyze, with understanding and logic, the principles we ought to live by…
Not to display anger or other emotions. To be free of passion and yet full of love…
To praise without bombast; to display expertise without pretension.” – Meditations, I.9

There you have it:

All the various benefits of living with your feet on the ground in one fell swoop!

All You Need is Love

That’s exactly right:

Self-love is the key.

Loving yourself means you don’t have to go crazy proving to people how great and wonderful you are. You know you’re okay.

It makes it easier to keep your feet on the ground.

Having your feet on the ground enables you to treat people equally, and allows them to treat you the same way.

And there’s more:

  • Natural living requires us to be grounded. It is contrary to nature – including human nature – to put on airs and try to be other than who we are. Staying grounded allows us to connect with people, and thrive in this world of connections in which we live.
  • Showing sympathy and consideration of others must become second nature. People sense when others are being pretentious, and resent it. But, we have to work at making such demonstrations second nature, so that they eventually are expressed naturally.
  • Passions drive us, but love sustains us. Passions are good for short-term execution and engagement. Love is needed to serve as a foundation for our relationships.

This Definitely Applies to Financial Relationships

The sign of good financial advisors are their ability to connect with their clients.

They really should show authentic sympathy and understanding.

They should relate to your specific circumstances.

Their ability to solve your specific problems means they have a client-centered approach, and not a self-centered approach.

How to Stay Grounded

Find things to love about yourself. Hold on to them. Build upon them.

You’ll stay rooted in reality, and in a good way.

Being grounded will help you deal well with everything and everybody.

Especially money.

What do you think? What ways do you use to stay grounded?

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.