Is Life Insurance worth buying?

This is a question that I have to answer every day. Many people will want to know why they should buy life insurance. When faced with this question I always want to ask if they ever had a car accident. Most will say yes, but will follow up with the comment that it wasn’t their fault. I understand that feeling since I have been on the receiving side of someone not paying attention and running a red light or a stop sign and hitting me. The flaw in this line of thought is also the greatest strength of my point for the need of Life Insurance. Because it was not your fault did not stop the need to get your car fixed, or in some cases, your own physical body.

You do not have to live like a reckless person to die, all you have to be is in the wrong place at the wrong time. I have met several people who have survived their spouse or loved one and they simply say..” just a few more seconds and he/she would still be alive”. Nobody likes to think of the possibility of death, especially if you are a father or mother and a spouse. People depend on you and your income.

I encourage everyone to ask around their ciricle of friends, and someone will have a story of an untimely or unexpected death that caused them not only deep emotional grief, but also caused incredible financial strain to simply say goodbye to their loved one with some sense of honor and love. Some people will say that they have life insurance through their work, or through another institution , and they are getting it very cheap. I would question the type of insurance, and if there are any restrictions or fine print that may eliminate certain circumstances around their death. I have outlined a few in a previous blog entry called ” Be careful of Wolves in Sheep’s Clothing”. There are many types of insurance that only cover certain circumstances, and are wonderful if purchased with a suite of other insurance products, but as a stand alone , full protection instrument, it is seriously lacking.

With all of that said, I will admit that the insurance industry has become seriously convoluted and so difficult to understand it is virtually impossible to determine what is best for you unless you consult a professional agent. I compare it to when I used to work on cars years ago. Many things were straight forward, and you could generally determine a fuel pump from a alternator, to a …. whatever. Well, have you looked under the hood of a car lately?! It looks like a nuclear reactor! I am not sure I could even change the oil on my car now! Much like the evolution of extremely complicated car repairs, the insurance policy has become just as difficult to read and interpret.

I enjoy the satisfaction of taking care of my clients… so much so that they think of me as a friend rather than just their agent.

If you are concerned about what is in that dusty file in your cabinet, and whether it would take care of you or your loved ones, give me a call! I don’t charge a consultation fee and pride myself on excellent customer service and satisfaction. I don’t even take money from you. The insurance product you purchase will pay me a commission… plain and simple… no slight of hand here. All up front,

I look forward to hearing from you.

Jonathan Mullins

434-229-8887  or e-mail me at Jonathan@CentralVAFinancial.com

Be careful of wolves in sheep’s clothing

As I am sure all of you are aware, the television is bombarded with companies offering the best deal on Life Insurance, or Medicare products. As an insurance professional it has always been a point of tension for me that they proclaim the best rate  for a person of a certain age and sex as if it was a common rate.

The truth of the matter is, most insurance companies have several stages of rates for levels of health condition, age, family history, and lifestyles; including what you do for a living, credit history and even your driving record. The rate will be determined based on these factors as well as the risk tolerance of the company and the underwriting  guidelines.

The rates quoted on commercials are typically those of a very young person that fit within all health parameters, low risk activity, no sign of risky behavior (DUI, rock climbing, etc…) and a clean family health history. If you do fit within all of these guidelines, you do have a possibility of getting $500,000.00 or more life insurance for $20.00/mo. However, most of us do not have this fortunate history and will have some issues to be uncovered and discovered by the application process.

Another well-known “low-cost” draw is to quote these prices as coverage for death due to accident, which is actually a type of life insurance only payable if you decease through an accident. So, in other words, if you had this coverage and died from cancer, you would not receive your payment, and your $5.00 /$1,000 of coverage would not do anything for your family.

I just want to make sure that when you are shopping for insurance coverage that, as a consumer, you will have the ability to make a decision that is well-informed and financially sound. So if you are looking for Life, Health, Medicare, or Long Term Care Insurance, or other insurance products like Fixed Annuities, Indexed Annuities, or Immediate annuities, it is to your advantage to seek out a trained professional to help.

As the principal for Central Virginia Financial Services LLC and it’s companion agency NeedMedicareHelp.com, I welcome your call, and your e-mails.

Please contact me anytime!