Does Your Disability Income Insurance Fall Short?
Posted on January 13th, 2012
Because of the limits put on the benefit available under traditional disability income insurance, there are a lot of people who would fall well short of being able to maintain their lifestyle if disabled.
The standard of the industry is 60% of your salary, usually with a maximum of $16,600 a month which is 60% of $200,000. There is no benefit for bonuses, so if your salary was $200,000 and you got a bonus each year that ranged from $50,000 to $150,000, your disability income benefit would be capped at $16,600. If you made $100,000 and made a minimum $100,000 bonus every year, your maximum disability benefit would be based on $100,000, $8300 per month.
I know the 99% really dont care about this, but even those of us who arent in the top 1% income wise are capped in the same ways.
Tags: Disability Income, Disability Income Insurance, Income Insurance, Short
No Comments »
Paper Licences Won’t be Needed to Hire a Car from 2015
Posted on December 30th, 2011
Remembering to dig out your paper driving licence for the car rental company has always been a particular bug bear of mine. Apparently it’s because the paper licence has details of any road traffic offences.
But, hallelujah from 2015 this will no longer be the case and you should be able to rock up to the rental car desk (assuming they have the correct systems in place to access the DVLA database!) without handing over a tome of paperwork.
However, as with all these things, nothing is absolutely straight forward, so because this won’t be foolproof, our recommendation, as always, is to check your booking information and make sure that you have all the bits of paperwork and identification that you require for collection, as turning up with one item missing could mean that you are not permitted to take the car.
****
Tags: Car, Car 2015
No Comments »
Step Away From That Button!!
Posted on November 17th, 2011
There was a long time before my website and blog took off where I was, like most other independent life insurance agents out there, stuck trying to get the most bang for my buck out of purchased life insurance leads.
Ten years ago I could spend $20-$25 per lead for impaired risk life insurance prospects. I would call them up and introduce myself, ask how I could be of assistance, etc. They were actually expecting a call from an agent. We would have a productive conversation and I would shop their case and within a few days I would send out quotes. Back then I would occasionally have a lead say that they really didnt mean to submit the request for quotes but I would say that 3 out of 4 were good leads and 2 out of 4 applied and were issued policies.
How to Choose the Right Life Insurance Company
Posted on November 5th, 2011
When you get quotes for life insurance from your local agent or from a life insurance quote website, how do you know which life insurance company to choose? On the LifeInsure.com website, for instance, you might see quotes from 6-10 life insurance companies on the quote page. Should you select the least expensive quote or one from a company name you are familiar with?
We always recommend selecting the least expensive quote from an A-Rated (or higher) life insurance company. All term life insurance policies are quite similar, so the benefits are all going to be basically the same. Term insurance is very simple you pay your (level) premiums for a specified period of time (the term) and if you should die during that time period, your beneficiaries will receive the death benefit of the policy. One rarely compares the features of a term policy, so it always boils down to price and company rating.
I often speak to people who like to choose a company they have heard of. I cant fault someone for having that consideration. If having the name of a company you are familiar with printed on your policy makes you feel more comfortable, I totally understand. However, if the premium is significantly higher than the same policy from another company, especially one that has higher financial rankings, I will point that out to my clients. As we dont work with any companies with a lower A.M. Best rating
Tags: Company, Insurance Company, Life Insurance, Life Insurance Company
No Comments »
Canada Issues Warning To Its Citizens about Use of Mobile Phone To Prevent Cancer
Posted on October 14th, 2011
Is it really possible to get cancer from using the mobile phones? This appears to be the stance of Health Canada as they release guidelines to its citizens to help safeguard against possible cancer problems. They did this in spite of no verifiable data that using a cell phone can cause cancer to develop. What influence, if any, will advice this have on global health insurance? Is it possible that international health insurance could become more expensive for heavy mobile phone users?
Health Canada has stressed that heavy mobile phone users and children are at risk much more than adults because they are more sensitive. They also based their warning on a report released in May by WHO about possible carcinogens from exposure to radio frequency and electromagnetic fields.
Tags: Cancer, Mobile Phone
No Comments »
Life Insurance Awareness Month – with an Assist from Lamar Odom
Posted on September 27th, 2011
As a fan of the Los Angeles Lakers (sorry Celtics fans), I have seen some great players over the years Jerry West, Wilt Chamberlain, Magic and Kareem, Shaq and Kobe, to name-drop a few. When he plays his heart out, I can utter the name Lamar Odom in the same breath with the others. Up until recently, I considered Lamar to be one of the greatest underachievers in the history of the game. He elevated his game this past year and won the prestigious Sixth Man Award, one he richly deserved.
However, in September of this year, Lamar Odom will be making an assist that will elevate him to an even higher level for me. H
What To Do When Pilot Life Insurance Isn’t Available Anymore!
Posted on September 24th, 2011
I have a client that is 76, the kind of guy that I envy at 18 years his junior. He skis the Rockies every year and is still an instrument rated private pilot, and an active business owner.
The last two business life insurance policies we got him at ages 70 and 71, we were still able to get him full aviation coverage with no flat extra charge for aviation and no exclusions. He no longer needs the business life insurance (and they are no longer convertible). He does want to buy an estate tax life insurance policy.
Tags: Pilot, Pilot Life
No Comments »