Honor Your Parents and Choose a Long Life

honor-your-parents

Our parents are often the most important influencers in our lives. As such, our relationships with them can significantly impact the quality and even quantity of our years.

I recently laid my mother to rest. She fought a long battle with illness and at every step along the way she attempted to fend off death and embrace whatever ray of light the new day brought her way. Prior to her passing, I also laid my father to rest. He too had a great determination to live and tried to dedicate his last days to a most worthy cause.  

The Reward of Honoring Your Parents

I am sure that many of you have also had a similar experience with your parents or know of others who have. You understand the tremendous stress, strain, and fear of facing the demise of a loved one. It can wear you down and make life feel like a burden you are anxious to cast off. Yet the Bible tells us that caring for a parent can have the opposite effect. In the Fifth Commandment, it says:

“Honor thy father and thy mother, that thy days may be long upon the land which the LORD thy God giveth thee.” (Exodus 20.11; Deuteronomy 5:15)

Can caring for an ailing parent actually increase the length of your own life? I think it can. Here’s how:

An Opportunity to Honor

It’s no secret that mental anguish and emotional disturbance can negatively affect your health. Unresolved conflict, resentments, and anger, among other destructive emotions, have the power to cause illness.  If ignored or not treated properly, they can even lead to death. Such is the poison of unfinished business.

It seems that a common and primary source of our unfinished business is our relationship with our parents. Father issues, mother issues, problems with each of them and with both of them, stretching over decades. What a burden to carry!

But then they reach their final stage of life and they become the dependent one. You now step into a caregiver role and have the responsibility to be there for them and take care of them. As a result, all the unfinished business often comes rushing to the forefront. This unique time is a prime opportunity to unload past issues and work through them as you attempt to give your parents the honor they deserve.

When you take these steps, you become clean of the poisons that can harm your life. You free yourself of the mental and emotional hazards that can cut your life short and you restore your potential for a naturally long life.

Have you experienced something similar? Are you currently going through this kind of situation? I’d love to hear your story. Ask anything by emailing 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.

 

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 Business Owners Use Life Insurance to Protect Against the Loss of a Key Person

As any business owner knows, when it comes to running a company, everyone counts. You can’t bring in money without a salesforce. You can’t count the money without an accounting department. You can’t run the computers without an IT specialist.

You can’t secure the building without security personnel. And you can’t keep the floors clean without the maintenance staff. The same goes for every clerk, administrator, secretary, supervisor, manager, and executive. Your business runs on the shoulders of many people in a variety of positions. Have you made sure that the loss of a key player won’t harm your business?

Why Do You Need This Coverage?

While everyone is integral, some people play principal roles. For example, revenue may suffer if you lose a top salesperson, and investors and shareholders might get anxious if you lose a chief executive. Clients and vendors might get nervous if a key manager leaves, and future production may be jeopardized if you lose a key technician, inventor, scientist, or idea person.

These situations show why businesses insure leading personnel. They take out life insurance to protect themselves against the loss of men and women whose death could impair the operation. The insurance benefit protects you by giving you the time needed to recruit the right replacement. In the meantime, client service continues, bills get paid, and employees have reassurance that the show will go on. Business can take place as normal.

Here are three quick tips for business owners to make the right decisions when insuring key personnel.

Determine the Policy’s Face Amount

How do you value the services of primary employees? Your answer to that question will vary according to the role they play. The service of a key chief executive would be assessed differently than the service of a key technician. Your firm’s accountant or chief financial officer should consult with an insurance company advisor to calculate the appropriate insurance benefit for your situation.

Decide on a Time Period

Key person coverage came about at a time when the main employees tended to make long-term commitments to their employers. Today, many key men and women tend to switch jobs more frequently. If you think that is the case in your business, then term insurance might be more applicable than permanent insurance.

Establish Your Options

What should you do with the policy on a vital person if he or she does leave? You have a number of options to choose from. You could simply terminate the policy, or, if it is a cash value policy, you might be able to surrender it for value. In some cases, the former employer keeps the policy in force and collects the benefit when the former employee passes away. The policy may also be sold for cash in a life settlement depending on the age, medical condition of the insured, and other factors related to the policy.

Your business is built on the shoulders of all those who work for you. How protected are you if one of your principal players passes away? I’d love to hear from you and answer any questions you may have. Ask anything by emailing me at skobrin@stevenkobrin.com.

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

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.

 

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 MUST Change Your Life Insurance Beneficiary When Getting Divorced

29894340172_1f9c654e89_nCertified Divorce Financial Analyst™, Michelle Ash has a must-read article about financial issues after divorce in womensdivorce.com. Here’s an overview:

The divorce is finally over, the decisions have been made, and now life proceeds anew for the client. But it’s never really that easy, is it? For the newly-divorced client, the legal work may be done, but there’s often a long list of financial clean-up that lies ahead.

Expert advice

As a life insurance broker, I pay special attention when experts offer advice on how to avoid troubles with your policy. Michelle points to a big one regarding the need to change the beneficiary designation when the divorce is finalized:

According to estate planning attorney C. Randolph Coleman of The Coleman Law Firm, “There usually are a half dozen cases during a typical year where someone will call and ask whether there is anything they can do to avoid the ex-spouse of their recently deceased spouse, parent, child or sibling, from taking the life insurance or retirement plan that the ex-spouse was still the beneficiary designated on the decedent’s plans/policies. The short answer, there is nothing you can do. The beneficiary designation will trump the will or intestacy every time.”

Again from estate planning attorney, C. Randolph Coleman, “I probably see about 6 or 8 people a year who typically come in for estate planning 4 to 5 years after a divorce to ‘finally get around’ to updating their estate planning. Usually, during the course of our discussions I will suggest to them that they go back to their employer and check on the beneficiary designations for their life insurance and retirement plans. Invariably, about half of them will call back and tell me how much they appreciate the counsel to check because their ex-spouse remained their beneficiary.”

A big takeaway

One take away from the story is this: if you wait for a life event to prompt an update of your policy, you may end up doing too little too late. This problem can be avoided if you get into the practice of conducting regular audits of your policy. Policy audits can frequently head off trouble at the pass. To learn more, read here.

What about your policy?

What about your life insurance policy? Is the beneficiary designation is current?
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.

Financial Independence vs. Independent Wealth

This was my view of Macy's 4th of July Fireworks. It was an awesome show. I'm really happy that I got this shoot from this position. Nikon D3000, shot in RAW, edited in Adobe Lightroom 5.

Today we celebrate the independence of the United States of America. Happy birthday, USA! Let’s talk about what independence means from a financial point of view. There are two common ideas related to independence and money: financial independence, and independent wealth. What is the difference between them?

Two ways of taking advantage

Here’s a quick way to answer the question: do you want to be rich? Of course you do. If you were rich, you wouldn’t have to answer to anybody. You could tell anybody you wanted to go jump in the lake. That could be your boss. It could be your biggest client who drives you crazy. It could be the banker or other lender who puts the squeeze on you because he knows you don’t qualify for better terms. Or anybody else taking advantage of you.

On the other hand, it could be the parent who very kindly bails you out time and time again. It could be the government agency who throws money at you simply because you qualify for big government benefits due to a technicality. Or any other entity of which you were taking advantage, albeit legitimately.

The focus is on freedom

Financial independence means you are finally on your own. But here’s the catch: once you are on your own, do you want to have to work 60 hours a week to stay on your own? To put up with all the stress and aggravation and problems of retaining your independence? No, you really don’t. You would like to have a life free of the rat race, even if it is your own rat you are chasing. You want enough money to work because you want to, not because you have to. To do the things you want, on your own time. To not have to worry about paying your bills, or working for the Man – even if you are the Man, your own boss. To do this, you have to be more than financially independent – you have to be independently wealthy. There is the difference between the two.

So, when we plan for our careers and our businesses, let’s strive for Independent Wealth. When we purchase life insurance and plan for the welfare of our survivors, let’s help them remain independently wealthy. And when we chart a course for the future of our country, let’s reclaim our independence and get ourselves wealthy enough to keep it. God bless America. Land of the free, home of the brave, and a country that should be the most prosperous on earth.

Here are a few more resources for you on this topic:

Finally, A Definition Of ‘Independently Wealthy’ We Can Really Get Behind

What Does Independently Wealthy Mean?

Financially Independent vs. Independently Wealthy

Does the distinction between financial independence and independent wealth make sense to you?

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.

5 Reasons Why You Should Disclose Your Prior Drug Use on Your Life Insurance Application

28108832021_13765ce10c_nLife insurance is probably the most comprehensively underwritten financial product in the marketplace. Everything from current health, to family medical history, to criminal record, is covered – with various lifestyle and health factors in between.

Many people are not comfortable disclosing personal information in these areas. Maybe they had a tough time battling depression. Perhaps they feel ashamed about a criminal conviction back in the day. Some are reluctant to talk about income, or prior financial issues.

Recreational drug use is a common sensitive topic. This is true for a variety of reasons, including concerns about illegality and social stigma. While I understand the hesitation to talk about it, I am here to report that you have everything to gain and nothing to lose by giving thorough and accurate answers to this and every other question on your application.

Here are five reasons why I believe this to be true, based on my 25 years selling the product:

1. If you don’t admit to usage, you are committing insurance fraud.

Your application contains verbiage very similar to this:

Any person who knowingly with intent to defraud any insurance company or other person, files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which may be a crime and may subject such person to criminal and civil penalties according to state law.

So if you did smoke pot or do coke back in the day, but deny doing so on the app, that is a materially false answer. So what can happen? The claim can be contested.

Your policy will contain verbiage very similar to this:

This policy shall be incontestable after it has been in force during the lifetime of the life insured for two years from the issue date, except for… fraud in the procurement of this policy, when permitted by applicable law in the state where this policy was delivered or issued for delivery…

I have always understood this to mean that if the company finds you lied about drug use, for example, then they could contest the claim even if the cause of death was not related to drugs. Why risk depriving your beneficiary of their money?

2. It probably won’t affect the rate anyway.

Your recreational activity 10, 15, or 20 years ago or more, does not necessarily affect your mortality now. Today, you are older and wiser, and engaging in activities that are better for your health. Underwriters understand that. Unless they have reason to believe you are at risk for going back to your old ways, odds are they will not hold your past against you pricewise.

Even if your drug use was more recent, it could affect your eligibility for a policy only temporarily. In the worst case, maybe an offer would be postponed. Perhaps additional premium would be assessed on a short-term basis. In both of these cases, your eligibility for coverage could be reassessed year after year until a carrier is found who would make a decent offer. Good deals that are not available now could be available later.

In some cases, current drug use would not preclude an offer now. For example, people who use marijuana can qualify for low rates, including non-smoker pricing in certain situations.

3. Going through full disclosure builds the confidence of underwriters.

Life insurance as a business. Like every good business deal, it has to be a win-win for all parties concerned. The consumer needs a policy that gets the job done. The company needs a paying customer. The broker needs to earn a commission once the sale is finalized.

Nobody wins when applications are declined for incomplete or contradictory data. If information emerges in underwriting that conflicts with other disclosures, then the deal can be off, and all parties involved will have wasted precious time and money.

Full disclosure in the prequalification stage of the purchase is essential for avoiding this problem. Once an underwriter sees that you have provided thorough and accurate answers on the “minor” stuff, like drug use long stopped, they are confident underwriting won’t uncover major inconsistencies that could kill the deal. They are much more likely to put their best rate on the table from day one and stick to it. You have established credibility with them.

4. It is a private matter.

Privacy protection regulations keep your application information within the strict confines of the insurance company and its affiliates. These laws are taken very seriously. You can see this with all the authorizations you have to sign for even those parties involved to have access to your application and underwriting file.

This means that nobody else gets to see your answers to the personal questions. Not your spouse, not your children. Not your business partner or employees. Not the bank who needs the life insurance to cover your business loan, or the investor who needs you covered as a key person.

It also means that the life insurance company is not going to report you to law enforcement agencies for having done something illegal back in the day. Go ahead and ask a criminal attorney if he’s worried about that happening. I don’t think so.

5. There is no stigma.

I understand that in the greater social environment, recreational drug use is considered “bad.” I recall being in “health” class in junior high school in the 60s. I think the instructor took great relish in forecasting doom if you smoked pot. First it would be marijuana, then you would move on to heroin, and finally you would end up in jail – or dead. Today, guys like that are still waging the “war on drugs” and trying to pack the prisons full of drug users.

Putting the politics aside, the fact of the matter is that many extremely successful and wealthy people have used recreational drugs. For some, it was a phase; with others, it became an addiction that needed treatment. Some still use them.

Since drug use can in some way impair health and functioning, it is valid for a life insurance company to determine how it may be impacting your mortality. With the proper direction from your broker, this assessment could and should be done fairly, and with the upmost respect and sensitivity. Find a broker you can trust, and you will be in good hands.

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.

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

 

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 Stay-at-Home Moms Need LOTS of Life Insurance

22779373068_1a9fb8a1cdI am a big advocate of men and women both having careers. However, I am a bigger advocate of children getting the parenting they need. That is why I applaud those households in which Mom can stay home with the kids. Or Dad! Whatever works for them. I have seen families in which both Mom and Dad manage to split the chores. This takes some creativity in getting the right jobs and managing time, but the effort is well worth it. Everybody wins – especially the kids.

You can read any number of studies that prove children flourish under consistent and stable parental influence. They develop emotional resilience and a deep sense of security. They form a strong identity and a healthy personality. They learn how to behave. They are given the basics for succeeding in life and love. And for weathering the storm when life gets rough.

Death is quite a blow to kids

Perhaps the most severe storm to weather is the death of a parent. Maybe you have tragically experienced that yourself, or are close to someone who has. Talk about the proverbial rug being pulled out from under you! It’s hard to imagine something as devastating to a child’s world, as losing one of the pillars of that world – Mom or Dad.

People buy life insurance to secure themselves again such a fate. The question is: what exactly should they do with that insurance money, should a claim unfortunately have to be paid? I think a lot of people jump to rash conclusions when planning for such a possibility. They don’t think through the process their family survivors would need to go through, to move forward from such a tragic loss. It takes time, lots of time. Lots of crying. Lots of family togetherness, hugs, supporting one another. People need to heal. Healing won’t erase the sorrow; just make it manageable.

Kids can’t afford to lose Dad, too

But if Dad has to work his 40 or 50 hours a week, then he will really not have the time to be there for his kids. If he has to scramble to get the household chores done, he will be too busy to be with them. Even if he has the money to hire a nanny or full-time housekeeper, these folks will be poor substitutes for Mom. His kids will need him more than ever, and he really should make himself available as much as humanly possible. For their sake. They will have already lost one parent to an untimely death; why should they lose their only other parent to the job?

For this reason, I believe stay-at home-Moms need tons of life insurance. With a sufficient amount of coverage in place, Dad could afford to work less and stay home more. He could take the time needed to lead his family through this tremendously difficult transition, into the next stage of their lives.

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.

Three Reasons to Have Life Insurance on Your Children

30717926215_754aaee5b0Nobody likes to think about insuring kids, but you know what? There are really good reasons to do so. Here are three:

Huge cost savings

We all know that the price of a new policy goes up with age. If a 20-year old and a 40-year old were each to buy a new policy, the 40-year old would of course pay more. (For sure, once their policy was purchased, the premium would remain guaranteed for whatever period they chose.)

You can see how low the premium would be on a one-year-old, or a five-year-old! Can you imagine how much money could have been saved if $1 million had been placed on your life when you were five years old, instead of having to buy it when you were 25 or 35? Even if you factor in paying the premiums all throughout your childhood, odds are great that your total net outlay would still be lower than if you buy a policy at a higher rate as an adult.

Significant cash accumulation

Some life insurance policies are designed to accumulate a lot of cash. They need time to do this. (And you need to leave the cash alone – no picking at it for odd cash needs.) Once you factor in the favorable tax treatment, over the span of decades a huge amount of cash can grow.

Policies on children are ideal for this scenario. The whole strategy calls for keeping the policy in force, and leaving it alone, for a period well into adulthood. With the right product from the right company, enough cash can grow to make good things happen: buy a house, start a business, supplement retirement.

Insuring insurability

God willing, every one of our children grows up healthy and strong, and lives a good long life. But things happen. Some families predispose their kids to certain genetic conditions, such as diabetes or breast cancer. Sometimes children get sick as adults, such as with adult onset diabetes, and any number of other ailments. Sometimes they adopt higher-risk lifestyles: maybe they take on scuba diving or rock climbing as a hobby, or get a corporate job that requires travel to remote places across the globe.

In all these situations, the cost of insuring them could be higher than usual. It might even be so high that they would have to settle for insufficient coverage purely for budgetary reasons. Or they may not even qualify at all, unfortunately. But had their parents the foresight to put a life insurance policy on them when they were young, then they would enter adulthood already with coverage in force. They’d be way ahead of the game.

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.

The Seven Don’ts of Buying Life Insurance

LifeInsurance

Believe it or not, buying life insurance can be a satisfying experience. Like anything else, you just need to know what you’re doing. A lot of it comes down to avoiding the pitfalls that give many people frustration and aggravation.

Over the course of my 25 years of experience, I have discovered seven don’ts of buying life insurance. By steering clear of these, I believe you can experience more satisfaction with your purchase.

1. Don’t kid yourself about the risks involved.

Yes, you may be healthy today and take the utmost caution in life. But the fact of the matter is, no one knows when his final day on earth will come. There are a multitude of threats beyond our control, such as undetected medical conditions, freak accidents, household fires, car crashes, and even terrorism.

While we can all improve our health to our best efforts, which can keep the cost of our life insurance down, don’t assume that a lower premium and higher level of health guarantees life longevity. If you are committed to securing the financial future of your loved ones, be it family or charity, then you have to admit that their future without you could very well start tomorrow. All the more reason to buy the life insurance today.

2. Don’t treat insurance like an investment – or a form of gambling.

People tend to lump all financial products together. Insurance, annuities, and investments may seem similar — especially when life insurance products build cash value and provide a benefit while the insured is still alive — but they aren’t.

Life insurance is not an investment. Investments are for you when you are alive. The longer you live, the more value that investment can attain. Life insurance is for your financial dependents when you die. The sooner you die, the more bang for your premium buck these beneficiaries receive.

It doesn’t make sense to say, “Well, I can take the same premium amount and invest it. With good returns I should be able to self-insure at some point in the near future.” That may benefit you, but it won’t help your beneficiaries should you die sooner than you hoped. Furthermore, what would happen if you fell ill, lost your job, or the market crashed? Your plan to self-insure may fall short and your dependents may end up without any security. This is called gambling with their financial future, not insuring it.

3. Don’t compare your insurance quotes to someone else’s.

Life insurance is likely the most comprehensively underwritten product in the financial marketplace. Many diverse factors are assessed for their impact on your mortality: age, gender, current health, medical history, family medical history, lifestyle, hobbies, job, drug use (current and past), financial history, criminal and driving record, foreign travel…you name it.

Insurance actuaries have compiled a nearly endless number of mortality statistics to help them set reasonable rates. Trends emerge that prove to be consistently true: women typically live longer than men, so they pay less. Smokers typically die sooner than non-smokers, so they pay more. You can have two people of the same gender, same exact date of birth, and same everything else, but if one has high blood pressure and the other one doesn’t, then their rates for life insurance may be different. It goes without saying that if the face amounts and guarantee periods of their policies are different, the rates will be different as well.

Additionally, you may not be aware of every factor that contributed to someone else’s premium. People disclose personal information when they apply for a policy. Many times, their spouse, children, and business partner don’t know the whole story. Friends and family are typically not in a position to really know how somebody else qualified for the rates they were given.

And finally, let’s suppose that you have been assessed an extra premium because of a higher risk, be it a medical condition or an adventurous hobby. Is it worthwhile knowing what the rate would be for somebody who didn’t have that extra risk? Could be – but only if that gives you something to shoot for by improving your health or dropping the hobby. For now, you have to bite the bullet and pay extra until you qualify for something lower.

4. Don’t let your doctor play insurance man.

Doctors are supposed to be in the business of healing, diagnosing, and treating medical conditions. A good doctor upholds the ethic of “do no harm,” and tries his best to abide by that. If a mistake is unfortunately made, or things just turn for the worse, he does his best to help the patient recover.

Either way, the doctor gets paid. That is the stark truth. Hopefully, the patient live a long, healthy life; but if tragically they do not, the doctor still bills the family and expects payment. The life insurance underwriter, on the other hand, often makes a much more critical assessment of your mortality and possible life longevity. The reason is very simple: he has to put his money where his mouth is. He has one shot – the time of your application – to determine what risk you represent to his company. Based on his assessment, his company could be liable for millions of dollars to your beneficiary, and that amount would have to be paid even after just one monthly premium was submitted.

Frankly, I have found many times that the mortality assessment of an underwriter has more credibility than the doctor’s prognosis. It is simply the business of the underwriter to be an expert in this matter. They don’t pretend to be doctors and they don’t give medical advice. Physicians should show the same professional courtesy. They shouldn’t pretend to be underwriters, and so they shouldn’t venture their opinion on whether or not their patients could qualify for coverage.

5. Don’t second-guess your advisor.

You hire professionals to do the things you don’t know how to do. They are experts in their field. That is why you hire accountants to do your taxes; lawyers to defend you in court; and doctors to treat your illnesses. Life insurance brokers are hired to get you the best value for your premium dollar. Our job is to get you the lowest cost, the biggest benefit, or the longest guarantee. You don’t pay us out of your pocket, but your premium includes our compensation.

Let us do our job. We make an upfront investment in you as our client. We don’t get paid until you are satisfied. We have a huge incentive to make sure you are happy now, and stay happy throughout the duration of your coverage. We don’t want to provoke restless nights, worrying that you have the wrong policy. If you have selected the right professional – an independent, life insurance specialist who prequalifies you before you submit a formal application – then you are in good hands.

6. Don’t expect the perfect product.

A life insurance policy is comprised of three main factors: face amount, premium, and guarantee period. In an ideal world, we would buy all the coverage we would ever need for as long as we would ever need it at a guaranteed rate. It would make sense to keep it in force for our entire life so we can be sure a claim will be filed and the benefit paid.

Many times, though, we cannot do that. There are often budgetary constraints and we don’t always know how much insurance we will need in the long-term. So what do we do? As with any case like this, we must set priorities.

There is no doubt that the number one priority is face amount. Make sure you have enough coverage in force today. This is simply because, as we said above, you simply do not know when a claim will have to be paid. Too often, people try to get a “good deal,” and skimp on the face amount in favor of a long-term guarantee. But if your family or business tragically loses you sooner than expected, your beneficiary will be short-changed. They would rather have the extra benefit than the longer guarantee. That’s why I tell clients that if your budget is forcing you to choose between $2 million of 10-year term insurance, and $1 million of 20-year term, for example, take the product with a higher face amount and the shorter guarantee period.

It is smart business sense to have a budget for any purchase. With such a constraint, it is often hard to get maximum coverage with the longest guarantee period. If you find yourself with this dilemma, then first look to alternative premium funding sources. You might be able to leverage, liquidate, reallocate, refinance, or use any of a number of other techniques to free up funds. If this is not possible, then shorten the guarantee period. Revise your financial planning to secure funds in the near future for additional coverage. There is nothing wrong with buying life insurance in stages – as long as you make sure you remain eligible for coverage.

7. Don’t put the investment cart before the insurance horse.

How do people get rich? Work hard, earn, borrow, invest, leverage, and provide greater value to bigger payers. How do they stay rich? Insurance.

Insurance prevents catastrophes from wiping out your riches. You could have a huge amount of savings and investments, but any number of manmade or natural disasters could clean them out. Even if you can afford to sustain the loss, why pay dollar for dollar to do so? Every dollar of life insurance benefit costs pennies. It’s smarter to let an insurance company take on the risk.

It makes sense to have a strong insurance portfolio in place to serve as the foundation of your financial portfolio, but which type of insurance policy is most important? It’s simple: the most important type of insurance is the one that protects you against the most likely risk: life insurance. You can buy medical insurance, but you may never get hurt or sick. You can buy disability insurance, but you may never lose your ability to work. You can buy auto insurance, but you may never have an accident. But you know with 100% certainty that you will die one day and that a claim will be filed on your life insurance policy. For this main reason, life insurance should be a top priority.

If you have questions about life insurance or would like a second opinion on a quote you have received, please call me (866) 633-1818 or send me an email at skobrin@stevenkobrin.com. I also encourage you to download my free Life Insurance Guide, which you can see in the above tab.

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

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.

 

 

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 for the Walking Wounded: People With PTSD

ptsd-e1383860925532People with Post Traumatic Stress Disorder (PTSD) are among the walking wounded. They have been through a lot. They are survivors. In my work helping them to purchase life insurance, I have developed an affection and admiration for many.

When you find out what these folks have been through, it makes you cringe. Some have experienced horrible abuse, sexual and otherwise – at home. At school. In a place of worship. In prison.

Some have survived horrible accidents – plane crashes. Car crashes.

Some have been traumatized simply through trying to help others survive terrible events. I have met a number of first responders to the Twin Towers on 911 who were greatly affected by the ordeal.

And then you have the many returning warriors. Veterans who served their country in battle and came home battered and bruised, both inside and out.

I know life insurance underwriters who want to help these people. They want to make offers. What will give them a comfort level taking on the risk, and at a reasonable price? Here are a few of their primary concerns:

Diagnosis and treatment

People with PTSD can have all kinds of symptoms. Their emotions can be so out of wack. They can experience great rage, but also severe depression. Trouble sleeping.

They can have numerous psychological and neurological problems. Nightmares. Flashbacks. They can jump at the drop of a hat. It’s as if you can take the man or woman out of the battle, but you can’t take the battle out of the man or woman.

Medically, there can be many conditions. There can be complications with many organs. Bad stomachs. Headaches. The stress level they have experienced can overburden their system.

In all these cases, an underwriter wants to be sure the potential applicant has reached out for help. Has received the proper medical attention. Has identified the problem and been prescribed a course of treatment. And is compliant with that prescription.

Support system

I have found that people with PTSD can attempt to treat themselves before seeking professional help. They can try to self-medicate with drugs and alcohol. In a way, I guess they are trying to escape, and to numb the pain. Who can blame them?

But the drugs and alcohol just create additional problems. We all know that. An underwriter will pay special attention to any drug or alcohol history, to make sure it is indeed history. A major factor in the potential applicant’s favor will be participation in a support group. Strong family backing and communal involvement also help.

Functionality

Sadly, people with PTSD can have a really tough time managing their relationships, both personal and professional. Marriages get severely strained. As do relationships with kids. And parents.

Jobs can be hard to keep. Careers can be difficult to restart. If the potential applicant has managed to find stability at home and also at work, these are big plusses from an underwriting point of view. They also mean that odds are against the potential applicant taking drastic action, like contemplating suicide.

Let’s help these folks!

I like to help anybody and everybody buy life insurance. Every man and woman deserves a shot at the coverage they need at the price they can afford. And as a professional salesperson, I have to be respectful and sensitive to the unique circumstances of each and every client. Sometimes, though, the plight of a particular people strikes you really deep. Folks with PTSD affect me that way. They have really been through a lot, and I really try hard to help them.

Along these lines, I want to direct you to a fantastic story about a Ukrainian teenager who helps the veterans of her country deal with their PTSD. Her remarkable efforts have been reported by Nolan Petersen of the Daily Signal. Reading it will make your day.

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 ed

 

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 Do I Evaluate a Term Insurance Plan?

main-qimg-722cd25789f901a028eb4a782d6f2e99Term versus perm is the age-old dilemma. If you are leaning towards term, how do you evaluate the quote?

Such a question was asked recently on Quora:

How do I evaluate a term insurance plan?

Here is my answer.

 

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

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.

Which Life Insurance Company is Best for Sleep Apnea?

HealthWhen people are diagnosed with a medical condition, they start thinking about many things. One of them is typically life insurance. Can I still get it? Will it cost an arm and a leg? Which company would give me the best price?

All reasonable questions. Usually, there are good answers. Very often people can qualify for coverage, and at a reasonable rate. This is true for people with all sorts of medical history, including sleep apnea. Such a question was raised by someone recently on Quora:

What are some of life insurance companies (in CA) which are sleep apnea (OSA) friendly? I am in a good health, ideal weight, great blood test result, but I was diagnosed with sleep apnea.

Here is my answer.

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.

Is Life Insurance a Superior Savings Product?

savings-growingA reader on the InsuranceLibrary recently asked this question. With my answer, I tried to lend some perspective on the product. The savings can be really competitive, but that is not the whole story. Here is what I said.

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.

Are You a Preferred Risk?

download (3)Life insurance underwriting can be kind of mysterious. Lurking behind the risk assessment lie underwriting classes. You have preferred, and standard, and so on.

Does everyone get preferred? Can everyone get preferred? This question was asked recently on Quora.

Here is my answer.

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.

Are You Glad You Paid for Your Kids’ College?

students-admission-bad-college-gradesWhen you first bought your life insurance, you sat down with your broker and discussed your financial needs. What should this policy cover?

Income replacement? Check. Mortgage protection? Check. Supplemental savings plan? Could be. Check. Policies for your business? If needed, check. Also maybe cover your estate and charitable interests. Check and check.

And, of course, college funding. That was pretty standard in those days, 20 or 30 years ago. So you added a few hundred thousand dollars onto your face amount, and considered yourself to be doing a good thing.

Why a good thing? Because in the 1970s and 80s, a college education still meant something. If you were on a professional career track, you got a solid grounding in academics. Extremely necessary for any architect, engineer, physician, lawyer, and so on.

If you chose liberal arts, then you got to broaden your mind. Innovative studies. Interdisciplinary studies. Working with others. Social awareness and responsibility. And you know what? Even this track was good for your career. I took this route myself and graduated with a liberal arts degree from a state school in 1980. One big reason I did so was because I understood that employers and corporations considered a liberal arts education to be great training for management. Successful people in business need to see the big picture. And work with anybody. And resolve conflict.

So, many of us bought life insurance to cover college, wanting the same good thing for our kids.

Now you and I have moved on to the next stage of life. Our kids have gone through school, or done whatever they could do. Our life insurance to cover college funding did it’s job of securing the opportunity for our kids to get the same growth experience we had back in school.

But to tell you the truth, I have my doubts as to whether the vast majority of our kids got anything close to that.

Have you been paying attention to what’s been happening on our campuses? “Safe Spaces?” Free college? “Inclusive language campaign?” “Interactive sex workshop?” “Gender binarism?”

Here’s the key question: are the young men and women pursuing these ideals and experiences being equipped to lead responsible lives as adults in this country?

I don’t think so. And I think many of us have a little bit of buyer’s remorse because of that. We can’t be confident that our children can become successful in either their personal or professional lives.

What a shame. And a waste of money. Don’t you think?

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.

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!

“Compare term life insurance rates at no cost from top rated companies in seconds.”
https://www.insurenowdirect.com/stevenkobrin/Default.aspx

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.

Do You Have Breathing Room?

imagesTTJMGXIGYou know that old John Lennon saying, “Life is what happens as you’re making plans?” I think it is true. Being true for all of life, it is certainly true for life insurance planning.

We like to tell ourselves that at some point in life, we will be all set. The mortgage will be paid off. The kids will be out of the house. No more dependents. No more obligations.

So when it comes to buying life insurance for family protection, we think we should need coverage for a set amount of time. After that, we can drop the policy.

But that can be cutting it close. Too close. Many things can happen when it comes to family life. One (or more!) of your children may end up staying at home longer than anticipated. You may have to refinance your home for unforeseen expenses. The parents of you or your spouse may unfortunately become infirm, and dependent on you to pay for their care. Things happen.

For all these reasons, it is wise to give yourself a little breathing room when it comes to life insurance planning. Don’t try to plan an exact timetable for the end of coverage. Make sure your policy continues a number of years past when you expect the need for coverage to end.

This way, in case you do need coverage longer than anticipated, you will have it. You can avoid the extra cost of buying a new policy at an older age. Plus, you cannot always bank on being insurable.

Giving yourself a little breathing room when protecting your family with life insurance can help your spouse, kids, and parents, and also your wallet.

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.

Why Single People Need Life Insurance

individualPeople often think that life insurance is something you buy when you get married. Yet, there are so many single people who have bought the product, for a number of reasons.

I provide a few reasons in my recent post on InsuranceLibrary.

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.

My answer to, “Why Would I Buy Whole Life Insurance?“

images3U7D1RAPHere is my answer to a question on InsuranceLibrary, “Why Would I Buy Whole Life Insurance?“

Whole life insurance gets kicked around a lot, and probably for good reason. Many people like the flexibility of universal life. Some people don’t need permanent insurance at all because they have a short-term need for coverage.

All this notwithstanding, there is a time and place for whole life. This post features but one example.

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 call me toll-free at (866) 633-1818.

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.

Top 10 Posts this week, including, “Has anyone been a bully, regretted it and tried to make amends later in life?”

top10Here are my top 10 posts most viewed around the world this week. The topics? Life and life insurance.

As you can imagine, these two topics are very intertwined.

Feel free to comment, and to share. Thank you!

Has anyone been a bully, regretted it and tried to make amends later in life?

Why Is Life Insurance So Expensive?

Who Regulates Life Insurance?

What are the three most important things one should focus on in one’s twenties?

How can I get a list of rich people who are willing to give to families that need help?

Why Does Life Insurance Underwriting Take So Long?

Why Is Life Insurance Not A Contract Of Indemnity?

Why Is It A Good Idea To Get More Life Insurance After Getting A New Mortgage?

How To Contest A Life Insurance Beneficiary?

Can I Sell My Whole Life Insurance Policy?

 

 

 

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 Will Disqualify You From Life Insurance?” and “What is the one thing that every human being wants?”

recent-postsHere are some of my recent posts on the topics of life and life insurance.

As you can imagine, these two topics are very intertwined.

Feel free to comment and share. Thank you!

What will disqualify you from life insurance?

What is the one thing that every human being wants?

I’m 19 married with a kid on the way. I’m a welder so my professions is relatively dangerous. How much life insurance should I have?

Why Is A Flexible Premium Life Insurance Policy Better Than Fixed Premium Permanent Life Insurance?

When Is It A Good Idea To Buy Whole Life Insurance?

What Are Important Provisions In Most Life Insurance Policies?

When Should You Drop Life Insurance?

Can Life Insurance Be Left To A Trust?

When Is Life Insurance Part Of An Estate?

What should you do when you feel like you’ve wasted an integral part of your life away?

What Is The Best Life Insurance To Have?

What Is Guaranteed Premium Life Insurance?

Should I think about what happened in the past (today)?

How Much Money Can I Make Selling Life Insurance?

 

 

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.