Is purchasing whole life insurance a good investment for me?

Here is how I look at your situation: You’re young, and I assume relatively healthy. Life insurance will never be cheaper. When you take on the responsibilities of marriage, family,… Read More

 

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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.

Your High-Risk Life Insurance Questions Answered

Here are some answers to questions about obtaining life insurance if you are considered high risk. Read More

 

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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.

We Need Holy Days As Well As Holidays

Believe it or not, the holiday season is upon us! For many of us, that means a break from work, time spent with family, and hopefully, some rest and relaxation. Taking the time to unwind during the holidays is much-needed and should be a priority, but is there more to it than just putting your feet up?

A Shift In Mindset

We often spend our holidays the same way we spend our weekends. We separate ourselves from work (at least for part of the time), and relax and enjoy a hearty meal at home or at the home of a relative or close friend. We might get together with others at a restaurant or hit the links at a golf course if the weather allows. If it’s too cold for golf, maybe we’ll head off to a resort. Other times a simple movie is all we need to unwind.

But for many, turning the holiday season into an extended weekend is not enough. Some of us want to dive into the deeper meaning of the season, attending special religious services or participating in community activities like volunteering at a soup kitchen or buying gifts for families in need. We want to observe the holidays in a spiritual way.

Holiness During The Holidays

I see all this searching for a deeper experience of life as an attempt to become part of something larger, to become dedicated to a higher purpose. Deep down, people truly need this. No matter how fulfilling or rewarding they find their job and their everyday activities, there is still a desire for something more. Holidays may be a break from the same old same old just like weekends, but just going through the holiday or weekend motions doesn’t make things special or memorable. It doesn’t create an atmosphere of holiness or cause us to focus on something higher than ourselves.

Unfortunately, many people are not comfortable taking traditional paths that lead to a holier life or they don’t know where to start. They can’t relate to formal religion and even the “spiritual” alternatives that have been developed don’t fit the bill. While we wish for one sole source to lead us to a life of holiness, we find countless available resources that only fill small pieces of the whole. It’s our job, then, to gather all these pieces into a cohesive, meaningful picture that will transform our lives.

Even if we are convinced we need to incorporate this philosophy of holiness into our lives, it’s often easier said than done. In his book, 177 Mental Toughness Secrets of the World Class, Steve Siebold alludes to the idea that leading a holy life is part of the journey to becoming world class and gives us some ideas of how to observe holidays in a holy way.

Formulate Your Life Dream And Vision

Siebold’s research has led him to the conclusion that in order to reach the world class level, you need to be intrinsically motivated. The world class lets their dreams, desires, and passions lead them and they stick to their beliefs when the going gets tough. Since the great ones move from logic-based motivators to emotion-based motivators, it’s essential to take some time to hash out your life goals, priorities and vision and learn how to motivate yourself to achieve them.

Remember Your Roots

The past has a lot to teach us. Going back and remembering where you came from and how far you’ve come will reinforce your belief in yourself and give you even more confidence to move ahead (1) (Siebold, 53-54). As we immerse ourselves in the holidays, reflect on your roots and remember that success is a self-fulfilling prophecy.

Engage In True Rest

In our society, we have lost the meaning of rest. We burn the candle at both ends and only let ourselves relax out of desperation, when we’ve hit rock bottom and can’t go further. Balance in this area is difficult to achieve. Even when we’re “off,” we’re usually “on” mentally. Find ways to recharge and strive to attain equilibrium between achievement and relaxation. Your soul will thank you.

Seek Solitude And Meditation

Many of the world’s highest-paid individuals are able to tap into the vast resources of their creative minds to produce products and services that solve the problems of the masses. This level of creative thought requires significant intellectual energy, which must be followed by intellectual rest and recovery. The great ones know the power of a quiet mind, and many invest time in solitude on a regular basis. They recognize that their performance depends on rest in mind, body, and spirit (Siebold, 219-220).

Apply And Practice

If any of this resounds with you, I encourage you to carve out some time to reflect, remember, and respond. Don’t let busyness and distractions turn these holidays into an extended weekend. Let your heart, mind, and soul observe the season fully and you will enter the new year with resolve and excitement for all 2018 will bring! I’d love to hear your thoughts on this concept of holy days instead of holidays. You can reach me at skobrin@stevenkobrin.com.

About Steve

Steven Kobrin is a life insurance expert with over 25 years experience. He serves high net-worth individuals and business owners as well as high risk and uninsurable “impaired cases.” Steven offers concierge life insurance process to ensure the policy is approved as it’s quoted. To learn more, visit his website, read his blog, connect with him on LinkedIn, or request a policy audit today by calling his office at (866) 633-1818 or by email at skobrin@stevenkobrin.com. Steven is a contributor to Investopedia, view his profile here.

_____

(1) Siebold, Steve. 177 Mental Toughness Secrets of the World Class. 3rd ed. London House Press, 2010.

 

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 Your Life Insurance Need Special Handling? More of Your Questions Answered

If you’ve been following our Special Handling series, you know that we’ve covered prequalification and underwriting and the challenges the life insurance process can pose for different situations. We’ve also spent some time answering questions about those who are high-risk and how the life insurance marketplace works. Now, in our fifth installment, we will continue that dialogue and address concerns surrounding life insurance for businesses purposes.

11. How Much Life Insurance Should I Apply For?

Many people want life insurance, but they worry about how much it will cost them. As such, they want to see some rates and “back into” a purchase by balancing the amount of life insurance they would like to have with the amount of money they are willing to spend.

To help you make your decision, I will either give you a reliable quote as quickly as I can or get you into a “price ballpark” as soon as possible. This number would represent our educated opinion as to what the lowest possible premium would be. If it works for you, then we can continue with prequalification and solidify the price. If you don’t like the number, then you can reassess your purchase, possibly identifying an additional source of premium, or reducing the guarantee period for the coverage you want.

12. I Need This life Insurance Policy To Obtain A Loan From My Bank For My Business. Can You Ensure The Policy Covers The Loan?

The typical way to make sure this happens is to collaterally assign the benefits. Once your policy has been delivered and all delivery requirements have been submitted to the carrier, such as premium payment and signed receipt, coverage will go into effect. At that point, the carrier will assign the benefit to your bank.

Should you pass away before the loan is paid off, the claims department will notify the bank and require proof of the balance due. The bank will be paid the balance to clear your debt, and your beneficiary will receive the rest of the death benefit, if any exists. In these circumstances, both the client and their banker are usually anxious to close the deal. We work to fast-track the underwriting of your application and keep your banker updated on the status of the policy. My reassurance that the process is moving along is usually sufficient for them.

13. I Need This Policy To Be Owned By A Trust. How Does That Work?

The number one concern in this situation is to make sure the trust has been completed by the time your life insurance application has been approved. This way, the policy can be issued to the appropriate owner and beneficiary designations. We can submit the application without the trust, but then you and your attorney would have to expedite the legal work.

It’s important to avoid a scenario in which you get a good offer from the insurance carrier, but can’t accept the policy due to delays in finalizing the trust. You would then run the risk of something happening to your health, or otherwise affecting your eligibility for coverage, and losing the good offer.

14. My Business Will Be The Owner Of This Policy To Cover A Partnership Agreement. Will That Make Things Complicated?

The underwriting will be more complex in this case, but we handle these situations all the time and can manage them efficiently. You will need to provide basic financial data about your business, then, if you like, our underwriting team will coordinate with your controller or accountant. The underwriters will also need information regarding coverages on your partners to make sure there is parity. We also offer the option to bring in attorneys and financial planners to guide you in the structuring of the agreement, at no charge to you.

15. Once You Complete Prequalification, Am I Under Any Obligation To Do Business With You?

The simple answer is no, you are not. You do not sign a contract, nor do you pay for the prequalification service. However, as you will witness, I make a significant investment in giving you a competitive and reliable quote. I only provide this service for “ready buyers;” those who know they have a need for life insurance, have the means to pay for it, and desire to obtain a policy now. If you appreciate the value of becoming prequalified for coverage because it gives you confidence in the final outcome, my services are the right fit for you.

If you go through our prequalification process, you will not be submitting an application only hoping to be approved, let alone at the price you were quoted. We specialize in providing you with an application approved at the rate quoted. Our goal is to make life insurance quick, easy, and painless to purchase, regardless of your situation.

If this appeals to you, then contact me at skobrin@stevenkobrin.com. I would love to help you on your life insurance journey.

Keep an eye out for part 6 of this series, where we will answer even more questions about life insurance and the need for special handling.

About Steve

Steven Kobrin is a life insurance expert with over 25 years experience. He serves high net-worth individuals and business owners as well as high risk and uninsurable “impaired cases.” Steven offers concierge life insurance process to ensure the policy is approved as it’s quoted. To learn more, visit his website, read his blog, connect with him on LinkedIn, or request a policy audit today by calling his office at (866) 633-1818 or by email at skobrin@stevenkobrin.com. Steven is a contributor to Investopedia, view his profile here.

 

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 should an 18 year old get started on their financial future?

You’re looking towards the future, goal-oriented, committed, sensible, disciplined, and smart enough to ask for advice from professionals. That is a good combination of qualities for entrepreneurship. Think about putting… Read More

 

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 old should you be to get life insurance?

Here’s an answer that will surprise you, but which is nonetheless true: you should be an infant when you get life insurance (obviously, your parents will pay for it :)… Read More

 

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 should I invest my late husbands life insurance policy?

Obviously, you have to sit down with a planner and plot out your needs and resources. Then you’ll know where you stand, and if you really have anything to worry… Read More

 

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.

What character traits should I strengthen to become a successful financial advisor?

I have been working since I was age 15 –  some 45 years ago – and have been self-employed for the vast majority of that time. Perseverance is the name… Read More

 

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.

Spiritual Business Practices: It’s the Process That Makes Us Rich

Success and money. These are two powerful driving forces in our society. Everyone wants to be successful, and I don’t think anyone would turn down an opportunity to be wealthy. But attaining those things is where the trouble lies. What are your motivations? What perspective do you have as you go about your daily work?

What We Have Is Not Really Ours

Here is a contemporary rendition of an ancient fable:

The world’s most prominent scientists gather together and call God to a meeting. The group includes an astrophysicist, a molecular biologist, a geneticist, and the most accomplished professional of every other scientific discipline.

With as much respect as they could muster, they basically tell God that the jig’s up. “Anything you can do with life, we can do. All the power, knowledge, and technology needed to control life are now in human hands. We can modify it. We can prolong it. We can eliminate it. We can even create it!”

God listens to them patiently and raises an eyebrow at their last statement. “You can create life? Really? Show me.”

So the head of the group reaches down to scoop up a handful of soil to put into his test tube. “Not so fast,” declares God. “Get your own soil!”

The moral of the story is that no matter how much control people think they have over their lives, everything they do is still using material on loan from the Creator. This is an important perspective to have in everyday life, and even more so in business.

Perspective Of Ownership

Here’s why the lesson of this fable is significant: it puts the whole idea of ownership in proper perspective. Ownership is a way of distinguishing between my property and yours. For example, I own my home and you own yours. I own my business and you own your business. I have my own my life insurance policy and you have yours. What’s mine is mine, and what’s yours is yours. No one is going to argue with that. We can certainly share our respective properties, but that’s through an intentional agreement that we make with each other.

Ultimate Ownership

But even those basic examples only explain ownership in a relative sense. The idea of ultimate ownership is that the true owner is Whoever initially created it in the first place. Whether that’s our home, our business, our assets or all the other stuff we build, collect, and value. In the end, everything passes through our hands because when we die, we can’t take anything with us. Even the biggest building or the most precious stone ultimately returns to the dust it came from.

Does that thought sober you as much as it does me? This perspective reveals the true purpose behind what we actually do when we conduct business and engage in the marketplace. At best, we strive to obtain something that will be in our hands for a comparatively short amount of time. It makes us appreciate the process of getting there, of making the acquisition or selling the policy rather than focus solely on the final result.

Process And Priorities

In this series, we’ve looked at how success guru Steve Siebold believes that faith in a higher power brings true success. When it comes to the process and perspective of business practices, he states that the best decisions in life are made when people prioritize how they get what they want:

“The masses repeatedly attempt to create happiness from the outside in, whereas the great ones know sustained happiness stems from being and becoming, not acquiring and possessing. Average people have mastered short-term happiness, easily gained through instant gratification mechanisms…[but] the world class vests a substantial amount of time ensuring their future happiness by creating congruency between who they are, what they’re doing, and where they’re going. Champions are masters at doing such things as marrying the right person, selecting jobs they love and building friendships with people they admire and respect.” (67)

I know this is a lot to dwell on. But as you dive into your motivations and your everyday business practices, take some time to think about your perspective. Do you take control of everything you have or do you recognize that it was given to you for your time here on earth? Do you put all your energy into obtaining some end product or do you glean as much wisdom from the process as possible? I’d love to hear your thoughts and find out how your business perspectives affect your day-to-day life. Contact me at skobrin@stevenkobrin.com.

About Steve

Steven Kobrin is a life insurance expert with 25 years experience. He serves high net-worth individuals and business owners as well as high risk and uninsurable “impaired cases.” Steven offers concierge life insurance process to ensure the policy is approved as it’s quoted. To learn more, visit his website, read his blog, connect with him on LinkedIn, or request a policy audit today by calling his office at (866) 633-1818 or by email at skobrin@stevenkobrin.com. Steven is a contributor to Investopedia, view his profile here.

 

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 Your Life Insurance Need Special Handling? More Answers to the Most Commonly Asked Questions

There are some things in life that seem so complicated that we often completely avoid them. In our Special Handling series, my goal is to make sure life insurance doesn’t fall into that category. I will answer some common questions and address concerns that come up in the life insurance process. In Part 3, we started discussing some issues that tend to arise for those who are considered high risk and require special handling. Let’s continue that dialogue now.

6. I’ve Been Declined Or Rated On Prior Applications. Will This Hurt Me?

Thankfully, the answer is no. It’s true that the underwriter will order a copy of your file from the Medical Information Bureau, which has your history of insurance applications. They will know what underwriting decisions have been made on your prior applications and if they see declinations or ratings, they will want more information.

My job is to make sure that this experience is not held against you. One of the benefits of prequalification is that it puts your application history into context. Many times people get declined or rated because they applied with the wrong company or because their broker did not sufficiently represent them. I will be able to put everything into perspective and make sure you get a fresh start.

7. How Long Will Prequalification Take?

It all depends on how long it takes to get thorough and accurate quote information. The obvious goal is to deliver a quote that is both competitive and reliable as quickly as possible. If I can get everything I need from one personal interview, then I should be able to give you numbers within a week. If medical records are required, then it could take a few more weeks, depending on how quickly your physician’s office hands over a copy of your file. We currently use a third-party service that stays on top of this process and increases our efficiency.

8. I Already Have Some Of My Medical Records. Can You Use Them?

The more documentation you have the better, so the answer to this question is yes. Odds are they will be useful for prequalification as long as they document and support your verbal disclosures about your medical condition. When you submit a formal application, the underwriter will probably order additional records to confirm there are no other underwriting issues to address.

9. Will My Personal Information Be Protected Through This Process?

We are all concerned about our privacy, especially these days when we hear about hacks to major companies on a weekly basis. We work hard to protect your information. Safeguards are built into the process to ensure we are following Health Insurance Portability and Accountability Act (HIPAA) standards. We do our part to protect you so that only authorized personnel have access to your quote information.

10. I Have A Policy But Would Like To See If There Are Better Options. How Can I Make Sure I Don’t Lose My Current Policy Before A New One Is In Place?

You are in control of this aspect of the process. Only the policy owner can terminate coverage and no broker has the authority to do so. Here is a plan to make sure you have continual coverage:

  • Hold on to your policy and keep making the payments.
  • If need be, change the premium mode to quarterly so you don’t end up paying too much past the time it takes to get the new policy in place.
  • When the new coverage is in effect, you can contact the existing carrier to cancel your previous policy. They should refund any unused premium.

It is my hope that these questions will give you some confidence and peace of mind and encourage you in your journey of finding life insurance coverage. If you want to have a personal conversation about any and all questions you may have, contact me at skobrin@stevenkobrin.com and be sure to download our free guide to buying life insurance.

Since there seems to be an unending list of questions about life insurance, we will continue addressing this topic in Part 5, so stay tuned!

About Steve

Steven Kobrin is a life insurance expert with 25 years experience. He serves high net-worth individuals and business owners as well as high risk and uninsurable “impaired cases.” Steven offers concierge life insurance process to ensure the policy is approved as it’s quoted. To learn more, visit his website, read his blog, connect with him on LinkedIn, or request a policy audit today by calling his office at (866) 633-1818 or by email at skobrin@stevenkobrin.com. Steven is a contributor to Investopedia, view his profile here.

 

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.

Answers to High-Risk Life Insurance Questions

Do you have questions about obtaining life insurance if you are considered higher risk? Read More

 

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.

If I receive a life insurance payment and then I give some of that money to other relatives, will they be taxed on it?

This is an easy question for your accountant. Run it past them and confirm the answer is no. They’re doing your taxes any way, and this should be a topic… Read More

 

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.

What type of life insurance policy should I buy?

Here are the five factors that you need to know when making a decision to buy life insurance. If you follow them all, you can be sure to make a… Read More

 

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.

Can I change my term life insurance into a whole life insurance policy?

If I recall correctly, a generation ago there was such a thing as participating term insurance. Dividends were paid into the policy, and could be borrowed against. So, if you… Read More

 

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.

Spiritual Business Practices: The Power of Saying “Thank You”

If you do a quick search online for “secrets to success,” you’ll end up with a massive list of tips with everything from having vision to taking risks. But in my previous article on spiritual business practices, we learned from success guru Steve Siebold that “Faith in God, a higher power, or an infinite intelligence is…a trait of many champions.” (89) (1)

That’s all well and good, but how exactly does one tap into that higher power or infinite intelligence? How does that spiritual connection play out practically in everyday business practice?

Live With Gratitude

Fortunately, Siebold’s answer is simple: it’s all about having an attitude of gratitude. Here’s what he says about this:

“Champions know the ultimate creative force is located somewhere beyond our everyday consciousness, and they must tap the source to generate their best ideas. The secular sometimes refer to this source as the unconscious mind. The spiritual often call it God. Whatever label their belief warrants, few deny the power of the source, whatever its point of origin. Champions know the fastest way to connect to the source is through gratitude. Thoughts and feelings of gratitude seem to elevate the performer’s consciousness to a higher plane than is accessible through any other means. Professional writers call it being connected. Athletes call it being in the zone. Psychologists refer to it as a state of flow. No matter what name you assign it, the experience is the same…Gratitude is their mindset of choice when they need to awaken the giant and tap their genius.” (37-38) (2)

In my religion, Judaism, we start our day by saying thank you to God for restoring our soul and entrusting us with it for another day. If said earnestly, this expression can be extremely enlightening. It makes you realize a number of important truths:

  • We need our soul/spiritual resources to do our day’s work
  • These resources are given to us by the Creator
  • They are “on loan” and should not be taken for granted

In light of this insight, I think any one of us would be led to feel appreciative and say thank you, either to God Himself or at least in general. Most certainly, we would say thank you to anybody and everybody who helps us accomplish what we do throughout our day. Just as we can’t take what God gives us for granted, we can’t take what anybody else gives us for granted either.

The Power Of Thankfulness

Robert Emmons, considered to be the world’s leading scientific expert on gratitude, found that living a life of gratitude improves mental, physical, and relational health to the point of having higher energy levels, less stress and depression, and heightened spirituality. (3) Finding ways to integrate gratitude throughout your business day can make a world of difference in your life and the lives of others.

I like to thank my employees for putting in a hard day’s work. I take the time to thank my prospects for giving me the opportunity to give them a life insurance quote. I say thank you to my vendors for excellent work in prequalification and underwriting. I like to thank my clients for giving me their business and for going out of their way to spread the word about my services.

And once you start saying thank you, your eyes are opened to everything around you that deserves your gratitude. It starts a chain reaction, and my day often involves one positive and productive interaction after another. Sure, there are ups and downs, but these expressions of gratitude keep me on track and connected. It’s a good way of “getting into the flow” in a business sense.

Thankfulness and Business

As you can imagine, there are also business benefits to saying thank you. Not only do I get a stronger work ethic out of my employees, but I also receive great service from my vendors and more opportunities to quote life insurance. Saying a simple thank you has led to more sales and referrals from my clients. It all boils down to this: if you take things for granted, they diminish pretty quickly, but if you’re grateful for them, then they multiply.

Do you live a life of gratitude? Have you reaped the rewards of this spiritual practice? Do you need some practical guidance on how to start living with thankfulness?  I’d love to hear your stories and answer your questions. Contact me at skobrin@stevenkobrin.com.

About Steve

Steven Kobrin is a life insurance expert with 25 years experience. He serves high net-worth individuals and business owners as well as high risk and uninsurable “impaired cases.” Steven offers concierge life insurance process to ensure the policy is approved as it’s quoted. To learn more, visit his website, read his blog, connect with him on LinkedIn, or request a policy audit today by calling his office at (866) 633-1818 or by email at skobrin@stevenkobrin.com. Steven is a contributor to Investopedia, view his profile here.

_______

(1) Siebold, Steve. 177 Mental Toughness Secrets of the World Class. 3rd ed. London House Press, 2010.

(2) Siebold, Steve. 177 Mental Toughness Secrets of the World Class. 3rd ed. London House Press, 2010.

(3) https://www.huffingtonpost.com/randy-kamen-gredinger/the-transformative-power-_2_b_6982152.html

 

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.

Taking a Knee – for the Free Market

The hot controversy over NFL players taking a knee during the national anthem, has an angle that has been under- played, but which is nonetheless crucial. It deals with the corporate responsibility – or lack thereof – of the league. Consider the following:

The starting salary for an NFL player is almost $500,000 per year. Yet, a significant majority of them end up in bankruptcy once their career is over. Clearly, they are lacking a basic financial education.

Not only that: each year, dozens of players are arrested for crimes ranging from DUI, to domestic violence, to rape, to murder. Clearly, they need moral training and guidance.

In addition, many of these players are from black communities. The problems in these areas are well publicized: fatherless homes; drugs; gangs; families living in poverty. Clearly, the family structure in their communities needs to be rebuilt.

Unfortunately, none of this seems to be clear to these athletes. At least, these ills seem undeserving of public attention. Instead, the players have chosen to focus the national spotlight on racial issues. This is tragic, and a huge misuse of mass media. The fact of the matter is that you could cure every cop in the country of racial bigotry tomorrow, and none of the above problems would go away. Sure, racism should be protested, but in this case, it’s being protested by people who beat their wives, throw their money away, and live in cities with families that are falling apart. Bashing America is a convenient way to cover up their problems that have nothing to do with race, and which they have the responsibility to solve on their own.

But hey – we shouldn’t be surprised that they are blaming the other guy. They work for one of the most exploitative employers in the country. The NFL has a long practice of getting the other guy to do things for them, by whatever means possible. It gets tax breaks not offered to other companies; sweetheart deals with billions of taxpayer dollars to subsidize stadium construction; and a monopoly in the pro football marketplace, with the help of crooked politicians.

I don’t expect the NFL to take care of its players from cradle to grave; it is, after all, a business. But at the same time, it’s morally irresponsible to let so many of its employees crash and burn under its watch. The situation is strikingly similar to that old movie “Rollerball,” which portrayed athletes working for a big entertainment corporation as pure cannon fodder.

And so while the players are drawing national attention to allegations of racism in America, the plundering and abuse of the league avoids the spotlight. Fortunately, we have started to hear of congressional inquiries into NFL exploitation, and I hope fan boycotts of the games increase, so these hearings can pick up steam.

For me, the best outcome of this knee-taking would be the national realization that the corrupt NFL needs to be overhauled, so that more teams and leagues – and more socially-responsible teams and leagues – could enter the pro football marketplace. That way, players could have more options for employment, and choose a company that would take better care of them. They would then have less to complain about.

 

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 Your Life Insurance Need Special Handling? Answers to the Most Commonly Asked Questions

If you have ever purchased a life insurance policy or even just researched the requirements to start the process, you probably had many questions along the way. Obtaining life insurance can be a difficult endeavor with numerous challenges that arise when going through prequalification and underwriting, which we discussed in Parts One and Two of this series. Let’s take a look at some of the most common questions asked by people who want to buy life insurance.

Life Insurance Q&A

These questions address the particular concerns of those who are considered high-risk or who have needs that require special handling.

1. Do You Represent A Company That Takes Higher-Risk People?

There is no one company that specializes in “higher-risk” candidates. Personally, I represent dozens of top-rated carriers, such as American General, John Hancock, MetLife, Prudential, and others.  Each one of these companies specializes in underwriting certain types of risk. My job is to know which companies like which risk and build strong connections with them so your application has the highest chance of success.

2. How Will You Know Which Company Is Right For Me?

I will take you through prequalification. This means I will obtain thorough and accurate quote information through personal interviews as well as any necessary medical record documents. Every underwriting risk you pose will be identified so we are aware of potential challenges at the outset of the process.

My prequalification team, headed by my general agent, will then identify the carrier or carriers that would be most competitive for you. We will then report back to you with a summary of rates the market has to offer, along with our recommendation of the carrier with whom you should apply.

3. Will I Then Be “Pre-Approved” For Coverage?

No. There is no such thing as pre-approval in life insurance underwriting. You receive official

approval only after you submit a formal application and go through underwriting. What prequalification does offer is a quoted rate of which I am confident you will be approved. You can submit a formal application confident of the outcome.

4. Can You Guarantee You Will Find A Company For Me?

There are few things in life that are guaranteed, and unfortunately, some people are simply not insurable. Whether it’s severe organ failure, a hard drug habit, or other extreme medical, lifestyle, legal or financial risk factors, there are certain risks insurance companies will not be willing to take. But these cases are few and far between. The vast majority of people are eligible for coverage immediately.

5. Will I Have To Pay A High Premium Because I Am Considered “Higher-Risk?”

Not necessarily. The key, as I mentioned above, is finding a carrier with a high degree of comfort in underwriting the particular risk you represent. Because of their level of expertise, they may not consider you a very high risk at all. Often, people get charged exorbitant rates because they apply with a company that does not specialize in their risk. Once you choose the right company for you, the underwriting becomes much more intuitive.

Knowledge Is Power

My hope is that you feel much more informed and at ease with what is involved when acquiring life insurance. In our next installment of “Does Your Life Insurance Need Special Handling?” we will continue examining questions about the life insurance marketplace. In the meantime, if you have a specific question about your situation or would like more insight about one of the topics mentioned above, please do not hesitate to contact me at skobrin@stevenkobrin.com and download our free guide to educate yourself further.

About Steve

Steven Kobrin is a life insurance expert with 25 years experience. He serves high net-worth individuals and business owners as well as high risk and uninsurable “impaired cases.” Steven offers concierge life insurance process to ensure the policy is approved as it’s quoted. To learn more, visit his website, read his blog, connect with him on LinkedIn, or request a policy audit today by calling his office at (866) 633-1818 or by email at skobrin@stevenkobrin.com. Steven is a contributor to Investopedia, view his profile here.

 

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.

Spiritual Business Practices: The Connection to Faith

When you hear the word, “spiritual,” what comes to mind? The concept of spirituality has taken on a wide variety of meanings, ranging from new age and esoteric to traditional religion to Eastern philosophy. The common theme running through all these examples is that of the human soul, something beyond the material and physical world we live in, and certainly something above the realm of money and finance, right?

Can Business and Spirituality Work Together?

But money and finance do not need to run counter to spirituality. At the very least, they don’t in my life. I have always tried to take a higher approach to business, focusing not just on the big sales, commissions, or the huge roster of clients. I want to balance the practical with doing good. When you die, no one will remember all your awards and certifications. Their eulogies will attest to the kind of person you were, the deeds you performed, and how your life impacted others.

This new series of articles will examine how spiritual growth can take place while you conduct business. We will discuss the spiritual practices I employ and am still in the process of researching to make my business activity a way of adding value to others and the world.

The Goal Of Spiritual Living

Everyone has their own objectives when pursuing spiritual practices. Some want to achieve a certain state of mind, of experiencing enlightenment or euphoria. Others want to harness specific “powers” or “energies.” These may be well and good, but I see these pursuits as means to an end, not an end in and of themselves. What good is it to become more evolved if the world doesn’t become a better place as a result?

Spirituality has been closely linked to success in life and world-class performance. In his book, 177 Mental Toughness Secrets of the World Class, success guru Steve Siebold points out that champions have tremendous faith:

“Faith in God, a higher power, or an infinite intelligence is … a trait of many champions. There are atheists who are tremendous performers, yet as a rule, there seems to be a connection between professional performers and the spiritual side of life. Many pros draw a tremendous energy and power from a deep faith in a greater force. In recent years, many who were turned off by fear-based organized religions in their childhood have turned to new-thought churches and centers…Whatever the source of their spiritual faith, world-class performers do tend to hold strong spiritual convictions.” (1) (89)

I firmly believe that my spiritual convictions raise my work to a higher level of excellence. As we enter this series, I am very excited to explore the connection between the spiritual and the material, in the world of business and particularly in the selling of life insurance. Have you seen this philosophy in action in your life or in those around you? Share your thoughts with me at skobrin@stevenkobrin.com. I hope you join me on this journey.

About Steve

Steven Kobrin is a life insurance expert with 25 years experience. He serves high net-worth individuals and business owners as well as high risk and uninsurable “impaired cases.” Steven offers concierge life insurance process to ensure the policy is approved as it’s quoted. To learn more, visit his website, read his blog, connect with him on LinkedIn, or request a policy audit today by calling his office at (866) 633-1818 or by email at skobrin@stevenkobrin.com. Steven is a contributor to Investopedia, view his profile here.

_____

(1) Siebold, Steve. 177 Mental Toughness Secrets of the World Class. 3rd ed. London House Press, 2010.

 

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 does borrowing against a persons life insurance policy work if you are the beneficiary?

Only the owner has the rights to the cash in the policy. If you are not the owner of her policy, then you will have no access. I am sure… Read More

 

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.

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It’s a good question. I think the insurance company is going to want to pay the money to her estate. This means that they will wait to hear from the… Read More

 

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.