OMG ... I need Health Insurance! How am I going to pay for that?

Are you feeling stressed out by all the TV coverage and news articles telling you how bad the new health insurance rules are or how great they are depending on who you talk to?  Exchanges, subsidies and penalties oh my!

 

Take a deep breath, its going to be okay.  I'll give you the basics for free!  I am licensed in Indiana so I'm going to talk about the set up here, if you are in a different state you will need to talk with someone in that state to be sure how it will work for you.  Are you ready?  Here we go!

 

First if you have a policy and you've not gotten a cancelation notice it means for now your current policy and network will remain the same.  You can keep it for a year and maybe longer, but that is not set in stone.  If you have a policy and have received a cancelation notice, it means your policy must be changed to comply with the new law and it was not grandfathered in for some reason.  You will need to get a new ACA policy (ACA stands fro the Affordable Care Act, which is a misnomer because it doesn't make coverage more affordable it just gives subsidies for those that make less money).

 

In Indiana you have 5 basic choices depending on your age situation and income.  I'll run through the first three quickly because they are very limited choices.

 

1. Medicaid - If you qualify for Medicaid it satisfies the ACA requirements.

2. Employer plans - If your employer has a group plan available to you that costs less than

    9.5% of your income then you need to stay with it.

3. CHIP - This is for children of lower income families that don't qualify Medicaid.

 

Okay so for the other two options ... you can buy an individual plan through an insurance company direct or you can buy the same plan from the federally facilitated marketplace (commonly called the exchange).  Both plans could offer identical coverage but there are two very noteworthy differences.

 

1. Plans purchased through the exchange will most likely have a much smaller network than those purchased directly from the insurance company.  So you may not get to use your current doctors or hospitals.

2. Plans purchased through the exchange may qualify for a federal subsidy to offset the cost of the insurance.  Plans bought directly from the insurance company are not qualified for a subsidy.

 

The bottom line is that the law is requiring you to get some basic health coverage.  If you are at or below the poverty line you will have access to Medicaid, and if you make above the poverty line (up to 400% of that amount) you may qualify for a subsidy that can pay for most or part of your health insurance costs, but if you choose either of these options you'll just have a limited number of options for doctors and hospitals.

 

You can make an appointment with me to go over your options but do it quick, because you only have a small window to enroll before you'll be forced into a higher cost option while waiting on open enrollment.

 

Contact me about health insurance here!

 

Jason

Is Pizza More Important than Life?

 

Sounds like a silly question, right?!  Could someone possibly think that a pizza is more important than a human life, or better yet the life of a loved one?  No Jason ... that's just too silly to imagine.  Now, what a minute, lets talk this out.  First off we need to establish what we are really talking about here.  I mean a pizza dinner at let's say Monical's Pizza, in Linton, if you order a large pizza Meat Eater Special with breadsticks and sodas for 4 people would cost roughly $32 (including tip).

 

Does that sound about right?  I think it does, and I think most of us will have pizza at least once a month (it's reported that 70% of Americans do).  So that proves to me that Pizza is more important than life!  Because nearly half of those folks having pizza this month will say that they don't have enough life insurance (according to a LIMRA study in 2013)

 

"But Jason", you say in a whiny voice, "Life insurance costs so much and pizza is so cheap!'  Most Americans greatly over estimate the cost of a life insurance policy.  For example, a non tobacco using man age 30 who is good health and a normal body weight can get a level term policy with a face amount of $500,000 for $28 a month.  How much does he need?  Well if he is 30 years old and he currently provides $40,000 a year for his family, he will earn $1,400,000 over the next 35 years until he retires, at age 65.  So lets say he wants to be worth 1,000,000 .. guess what the monthly cost would be?  About $46 a month or less than a pizza dinner and one trip to the Linton movie theater (full price adult tickets are $6.75) for a family of 4 ...

 

Life insurance is affordable and necessary ... don't make dinner and movie more important than your family's security.

 

Jason

Too Busy? Not Really!

Sometimes when I think about years ago, I imagine that I was less busy and that I had more time.  Maybe you think that too from time to time, but it's not true.  We chose to do different things today than we did when we were younger, and sometimes we have more responsibility than we did early in life, but all in all we still get 24 hours each day to spend as we see fit.  My brothers and I are good examples here ... we all seem to be too busy with work and life to visit each other very often but we all somehow manage to squeeze out a movie and dinner out every now and again.

 

Even as I'm writing this I look back and it's been a month or more since my last post, and I'm thinking I just didn't have time to write it.  But that's a lie, I did have time, I just chose to ignore some activities in favor of other ones.  The time we have doesn't change, we just change what we do with it.

Now, don't get me wrong we are all busy, but it is the important stuff that we should pursue and ignore the things that don't mean much to us.  I enjoy fishing, but I rarely get out to fish and I'm always saying I'll go when I have time, but if the truth be told, I could just go fishing and fill in the rest of my life around that time. 

 

So take a moment this week (and every week) and decide what is important, then do that and the rest of your life will still be there when you're done.

 

J

 

Protect what is really important with life insurance, call me for a quick quote!

What's really important?

No event in life ranks as high as the birth of a child.  The birth of my first grandchild a couple of weeks ago really punctuate that point for me again.  In everything that we do and all we try to obtain in this world we should realize that it is the two common experiences that we all have that bind us together in this world.

 

We are all born and we all die ... all the events in between pale in comparison to those two.  Our first day on this planet is a special one that should be celebrated and honored.  No matter how humble or expansive our beginnings, we come into life the same way.

 

Likewise, when it is time for us to leave this world, we do so alone and without the money, or possessions we've accumulated.  It is such a powerful and profound moment when you get to share someone's last second on earth with them, it will forever change you.

 

I make my living by helping people protect the things they accumulate after they are born and leave behind when they die ... sounds silly in the scope of things, doesn't?  That's why I'll always tell you that life insurance is the most important kind of insurance there is.  It's the only type of insurance guaranteed to pay off.

Protect the ones you love, FIRST!  Then we can talk about you car, business or home.

Call or email me for a low cost option for life insurance!

Secrets Revealed!

I'm often asked how to lower the cost of insurance.  People are quick to point out that their premiums have gone up every year and they want to know why.  I understand and while they don't typically blame me I'm a convenient target for their aggravation.  I try to be patient with folks but really I'd like to point out that everything increases in cost and your insurance is in place to protect that ever increasing replacement value.

 

In other words as the price of auto parts goes up the cost to fix them when the are in an accident will also increase, and like all businesses, the insurance company has to make money or it will go bust.  When repair parts and labor costs start going down the insurance company can begin to look at becoming competitive on pricing.

 

There are only two ways to lower your premium's ... here it is the big secret revealed;

 

1.  Buy less stuff ... if you have 12 cars you are going to pay 12 premiums ... if you have a half million dollar home, you will pay more than the guy with a hundred thousand dollar home.

 

2.  Accept more responsibility for your risk ... we talk about deductibles in the insurance business but really a deductible is just how much are you willing to share in the damage?  If you have a zero deductible or a $100 deductible you are telling the insurance company that you will make a lot of little claims.  If you set your deductibles at $1000 then they know you are not going to ask for their help until you really need it.

I hope this helps everyone!  But I know that rising prices get on our nerves, remember I pay the same insurance rates that you do, so find an agent you trust and have a conversation about the cost verses the benefit.  You may decide to down size or at least shoulder more of the cost of a loss.

J

Call me for all your insurance needs. 

Sometimes life sucks!

Ever have one of those days? weeks? months?  You know the kind of week or month that defies a good attitude, the kind of month that makes you question that there is anything good left in the world?

Yep, me too!  It's like when you drive to the town of Worthington after a big rain and see that 300 foot on the road was under 8 feet of water.  If you live around here you know that means to get to Worthington I had to back track 20 miles to go that final few feet and get into town.

While that was aggravating and it seemed like a big deal at the time (30 minutes of wasted time) it didn't effect me for long.  It's the rest of life that weighs us down, the traumas and conflicts that bite deep into our hearts and minds.  So yes, sometimes life sucks and there is nothing we can do about it.

It's during times like these that I seek the face of my creator ... I know he may not turn back time, or erase the heart sicking events.  But perhaps just seeking his purpose and asking for comfort is enough.  

I don't know ... I don't feel very wise today so take what you can from this ... I hope your month is uneventful.

Insure against what you can!  Pray to avoid that which you can't insure against.

How much will you donate to the government when you die?

How much do you want to donate to the government when you die?

Is your savings account earning you 2% or more?

Two silly questions but if you leave money in a savings account, you will donate to the government when you die even before your heirs get one single cent.  

The average interest rate being paid by a savings account today is less than a quarter of a percent.

If you deposited $5,000 in a savings account that paid 1/4% APR you would have about $5063 at the end of 6 years (assuming  the rate didn't decrease over that time).  If that $5,000 account gets caught up in the estate, it could be reduced by any taxes owed by the estate.

EXAMPLE 1

If a 35 year old woman in good health who does not use tobacco deposited that same $5,000 in a single pay life policy, her cash value at the end of 6 years would be $5,130 (twice the earnings from the average saving account).  Plus, if she died during that 6 year period her heirs would receive $14,470 (nearly three times the deposit amount).  The proceeds at death are paid directly to your designated heirs (tax free) and the government is left out of the loop.  If you need the cash you can cancel the policy and withdraw the cash value at the time you cancel ($5,130 at the end of year 6).

EXAMPLE 2

If a man age 65 in good health wanted to donate an sizable amount to his church but retain control of the funds in case he needed them, he could buy a single pay life policy for $51,949 with a death benefit of $100,000.  When he passes the church gets nearly twice his original donation, but if he needed to use the cash for an emergency it could be withdrawn.

EXAMPLE 3

A woman age 45 in good health inherits a $60,000 CD from the estate of her mother.  She wants to pass that on to her children but there are 3 of them and they are very young.  She can deposit the $6,000 in a single pay life policy and capture a $250,000 death benefit for her children, but if she needed to use the cash for an emergency it could be withdrawn.

 

If you are under age 84 and in reasonable good health, then let me talk to you about making more with your money or at least not giving it to Uncle Sam.

... and Kumquats for all!

Before I entered the insurance industry I worked in sales for the natural product industry.  Vitamins, and herbs and lots of things on the fringe of health and nature.  We had two big shows each year, one on the East coast in the fall and one in Anaheim California in the Spring.  In any small industry you find friends and develop traditions and this was no different.  I have a friend in LA that would come to the show and bring me kumquats from her back yard.  Fresh kumquats are crazy good.

They are sweet and tart all at the same time, the little fruits look like grape sized oranges with very thin skins which are edible and in fact the sweetest part of the fruit.  Since I left that industry I've gotten a couple of shipments from LA and this year one of those amazing shipments arrived bringing great joy to me (mostly me cause I'm the only one that really likes them that much in my family).

 

My buddy grows these wonderful little fruits in her back yard and when I get them I make jellies, pickles and candies from them and ship some of those goodies back to LA.  This is a good life example, we all do what we do.  I don't try to build houses and my carpenter friends don't try to offer life insurance.  In the same way my LA kumquat connection doesn't try to make kumquat pickles and I don't try to grow the tropical fruit in Indiana. 

 

We all have special skills and we should accept that in some areas we need an expert to guide us.  If you're not an insurance agent you should find one that understands your business, home and life so that they can tell you want you need.  Don't try to figure it out yourself to save a dollar with some online company.  Get a real live person that you can trust and talk to who doesn't have a strange accent.

J

Call me to review you insurance program and make sure you are paying the right amount for the right coverage.

What happened to Customer Service?

This week has been the worst week of customer service for me!  I spent several hours working on getting a phone / internet provider to do what they promised us they would do for our church.  They spend they same amount of time trying to get out of doing what they promised to do.  Plus they tried to make me feel stupid for demanding that they do what they promised to do when we agreed to let them provide the phone and internet services for the church.

Prior to that I spent a great deal of time talking to the bank that is doing the refinance on my home.  After telling me for 80 days that the closing costs would be one figure they proudly informed me on the eve of closing that the closing costs would be double what they originally quoted.  This without the slightest hint of regret or any explanation as to the difference.  They merely gave me the new figure and were puzzled why I told them no, I won't pay that without a reason. 

I struggle with this because I am in the service business, as an insurance Agent I have to take responsibility for the actions of the companies I represent even though I can't control what they do and that is on top of being responsible for what I do.

Think about this ... if gas goes up, we all complain to each other.  If your auto insurance goes up you complain to the agent.  No one ever tells the gas station attendant that they need to sharpen their pencil and give them a better rate on the gas.  Why would you think the insurance agent could make the insurance company lower its price?

I'm not complaining about that perception, I just want to establish that as an agent I have to provide great customer service or people will move on to a new agent ... and they should.  But by the same token, I demand the same level of service in my life that others do from me.

Demand good service and make companies do what they are supposed to do, then be loyal to them so that we can all finally get the service we deserve.  Those of us that provide good service want to know that you appreciate the effort, and those that don't care about their professional image should not be encouraged to continue giving sub par service. 

J

How important is good service when talking about life insurance? I'll be the one giving your loved ones a check when they need it most!

Girls with Guns ... a Warning from Dad!

As the father of four daughters I have a pretty unique view of the world.  In fact unless you have lived in a totally female home with little women that you helped make, you can't really appreciate the dynamic that exists for me.

 

Having only daughters, which are mysteries from the time they are born and no male influence other than your own is truly like being King.  It's lonely sometimes, overwhelming sometimes and scary all the time.  But that's not what the world sees, they can only be allowed to see the scary Dad.

 

I don't sharpen my knives in front of the boys, or clean my gun, no I want them to know that I am so much more dangerous than guns and knives.  I want them to fear me, not know what I'm capable of and hope that they don't ever find out.  Because as King, I would hunt to the ends of the earth, anyone that harms my family.  Of course it goes without saying that as a Christian man it would go against my nature to hurt someone, but I would. 

 

I also believe that I have taught my girls (even if they forget sometimes) that they are worthy to be treated as princesses and that they are capable of inspiring the same fear in the hearts of the common boys that are always lurking about.  Oh, and believe you me, those boys better feel fear in their hearts.

 

Some of the girls really like shooting rifles, shot guns and pistols and they are good shots too (Grandpa taught them right).  Some of my girls really know how to handle themselves in a fight but, all of them know that the King would wage war or even lay down his life to save them from harm.  Not that they need me as much any more ... but here's my warning to the young men of the world. 

 

Treat my girls respectfully, treat them with kindness, and treat them like the princesses they are or you'll suffer, because they are worth it to me.

 

the King

 

Protect your Princesses with life insurance, they are worth it!

 

Old guys are the lucky ones!

Time marches on ... we all know this and yet looking back on the days gone by, we all seem to say, "where has the time gone?"  But I must say that as I slowly become an old guy, I find that I feel like a really lucky person.

 

I've had both success and failure in my life ... so, I know what I can accomplish but, I'm not afraid of missing the mark.  I've seen peace and war, both up close and I know that one can not exist without the other.  I work hard so that I can have sometime to play, and that makes me understand the value of both work and play.  I have enough money to pay my way ... but not enough to make me greedy.

 

As we get older we realize that it isn't the money, fun times, peaceful world, or successes that make us happy or even lucky.  Happiness and indeed luckiness comes from a generous helping of life!  The messiness, the highs, the lows and the craziness of a life through the years makes it more valuable to the person living it and more interesting to anyone that is observing it.  Some folks will tell you that success comes from planning for the future and there is truth to that, but success is not the only element of life worth pursuing. 

 

So here is the last word from this "old guy" in training. Plan what you can, accept what you must, pursue what you love and give 'til it hurts.  When you look back at the days gone by, you'll still say "where has the time gone", but you'll feel like the luckiest old guy on the planet.

 

J

 

Here's my commercial for this post.  Life insurance is only for a person that owes someone or loves someone.  If either fits you, call me for a quote.  It's a lot less expensive than not having will be for your family.

Spending my kid's Inheritance? Heck yeah!

I was riding to Bloomington with my youngest daughter last week when we got behind this truck.  Since Katie was driving I had a chance to really look around and I noticed the words on the back and thought "now there's a guy that's going somewhere!"

 

I hope someday to spend my kids inheritance on a really great truck or a hot tub but my wife insists that we will be spending lots on our kids for years to come, and now I have a grandchild on the way which my wife has decided to spend a chunk of our income on ... I may have to just put a kiddie pool in the back of my old pickup and run a hose from the exhaust to the kiddie pool to make the bubbles.  I'm still working on that idea!

 

But seriously, I had a conversation with a woman in her 70's this week and she has $25,000 in an account that she has set aside for her grand kids.  "It's not much, but maybe they'll get some use out of it."  Well with 3 grand kids that means they'll each get $8,333.  That's pretty great, but it's my job to let her know that they'll be taxed on that amount and if the estate owes anyone when she dies the debts will be settled first and they'll only get their eight grand if it's left after the debts are satisfied. 

One of the best things about my job is being able to help people solve problems like this ... I mean this lady has saved twenty five grand to leave behind and at the very least Uncle Sam is going to take 20% ... not cool!  So I showed her how to take that $25,000 and put it in a single premium life policy which gives her heirs $44,000 at her death and all life insurance proceeds are tax free to the beneficiary.  Oh, and one more GREAT thing about life insurance.  It doesn't matter how long the estate is in probate or tied up in courts and such, life insurance is paid directly to the beneficiary within days of a death certificate being issued.

 

So maybe I can get my truck and hot tub without having to duct tape a hose to my exhaust.  Good luck hiding your money from the kids, I'll talk to you soon.

J

Ask me about life insurance ... I can help!

New beginning, for an old dude!

At the start of each year we all kind of take stock.  I look back at what I've accomplished, and what I failed to accomplish.  I also look forward at what needs to change and what I want to make better in my life.  We all do that to some degree, don't we?

Sometimes it's more a function of what really works and what is most practical.  My friend Else sent me this week's picture.  Her friends all had their iphones with their Otterboxes to protect them in the rain and she has a nondescript phone in a ziplock baggy!  We joked about it being a redneck Otterbox but in truth it is a wise use of her resources for a tool that will be out dated before she can graduate college and find a job that will pay her enough to afford the iphone in the first place.  That's sort of what I've done this new year.

I left the insurance agency I was with to join one that will offer me greater opportunity to help people find the right policy for the right price.  I now have 20 or 30 different companies to write insurance through, not just one.  So now I can focus in on what a person needs not what I can insure ('cause now I can insure it all).

Life insurance, commercial policies, homeowners, auto policies ... coal trucks, restaurants  homes, antique autos, and just about anyone's life.  Better products, better prices, and most importantly better coverage.  

Yes this year I'm making the best use of my resources and I'm using those resources to help my friends and family insure the things they own.  So, call me for you insurance needs at 812-384-3575 for my Bloomfield office or 812-847-8141 to reach my Linton office.

I hope your new year inspires you to make the most of what you've got and perhaps create a unique style all your own.  See you soon!

Life insurance is more important than any other type of policy, let's talk about why!