Posted: Sat Jul 15, 2006 5:04 am Post subject: Welcome
Hi rickblaine,
Welcome to the Insurance Forum
Feel free to interact with the forum members.
Awaiting some more of the interesting and informative insurance topics from you!
I'm a broker, independent insurance charmed oil snake salesman!
I'm not here to sell anything but just pass on some information to help whomever I can if they need advice on insurance. I would suggest this, if a layman,laywoman is thinking about Life insurance is to think about the end and then work backwards. In other words think about what you want the insurance policy to do once you pass-a-way.
Some think that they won't need insurance if they live pass their children growing up and no longer in debt thinking their spouse won't need protection. This may be true if that is the way one thinks, so they may only look for a policy till they are say 65. For a 35 year old that is 30 years in the future and who knows what is going to happen in those 30 years? I thought the same when I was 35, never assumed that when I turned 45 my wife would have a child! Now what, I find that the cost of additional insurance for the next 20-24 years is really expensive! I'm not as healthy as I was when I was a young lad of 35!
Needless to say I sell "Human Value", as in insurance for life may it be life, DI or LTC.
Outside of that I'm a pretty nice guy! Love photography, fine art photography may it be Landscapes or Still Lifes. Love to hike the Great Smokey Mountains of NC and TN.
Hey Rick, Good to hear you. Please continue the advices for the community members. We all need those good comments.
What you have mentioned about the life insurance, I would like share some of the important aspects as to why the insurance become a necessity for life.
One reason being the rising cost throughout the world in almost every aspects of life. Especially we can mention about the health care costs.
The day to day risks has been on a rise. And the act of terrorism is the ice on the cake.
In addition to that the premium is also rising. The Insurance fraud is being one of the prime reasons for that. And so far as the data is concerned this is the second largest crime after the tax evasion. We should all be concerned about the matter to prevent the fraud and the associated rise in the insurance costs.
I would like share some of the important aspects as to why the insurance become a necessity for life.
Because no one knows the future! You have to use the guarantee and security that a solid Participating W/L Policy gives one. Now where you go from there to fund it is another story!
Yet though, I would have to admit, a good DI Policy and LTCI is just as important as Life Insurance. Now go and fund all three of them and you have problems. So in the end it depends upon the budget of the person that we are presenting our plans too.
I would submit a 35 yr old needs a solid Disability Policy far more then they need a Whole Life Contract. Then you have to also take into consideration that a 45 yr old would be in greater need of a LTCI then they are with a W/L Policy. It's a balance, truly all three are good thing for anyone of any age but you have to present a plan where it is affordable for the individual.
In addition to that the premium is also rising. The Insurance fraud is being one of the prime reasons for that. And so far as the data is concerned this is the second largest crime after the tax evasion. We should all be concerned about the matter to prevent the fraud and the associated rise in the insurance costs.
I don't look much into Insurance Fraud, I like to concentrate on things I can change on a one to one basis. I'm sure its a major problem and had a few laughs like those old Ladies that played fraud. They would befriend some homeless guy, clean him up and claim him as being a renter or something, then go out and get a life policy, term insurance. Then they send him on his way, after some time they track him down and run him over! Then go collect a fat insurance check, gotta watch out for them Old Ladies!
Yet though, I would have to imagine most fraud is on the P&C side of insuance. That is something I never really got involved in. While I'm sure its great, just isn't something I was ever all that interested in.
