Why You Should Consider A Cancer Insurance Plan

Cancer is a serious disease that can have a devastating impact on a person's physical and financial health. The cost of cancer treatment can be high, and even with health insurance, many people find themselves struggling to pay for their care. Cancer insurance can help to ease the financial burden of cancer by providing a lump sum of money to help cover the cost of treatment.

There are many different types of cancer insurance plans available, so it is important to compare plans carefully before choosing one. Some plans offer coverage for a variety of cancer treatments, while others may only cover specific types of treatment. Some plans also offer coverage for non-medical expenses, such as travel costs to and from treatment or lost wages.

The cost of cancer insurance can vary depending on the type of plan, the level of coverage, and the person's age and health history. However, for many people, the cost of cancer insurance is well worth the peace of mind that comes with knowing that they will have financial assistance if they are diagnosed with cancer.

Here are some of the benefits of having a cancer insurance plan:

• Financial assistance for cancer treatment: Cancer treatment can be expensive, even with health insurance. A cancer insurance plan can provide a lump sum of money to help cover the cost of treatment, including surgery, chemotherapy, radiation therapy, and prescription drugs.
• Coverage for non-medical expenses: In addition to covering the cost of medical treatment, some cancer insurance plans also offer coverage for non-medical expenses related to cancer, such as travel costs to and from treatment, lost wages, and child care.
• Peace of mind: Knowing that you have financial assistance if you are diagnosed with cancer can give you peace of mind and allow you to focus on your health. If you are concerned about the cost of cancer treatment, a cancer insurance plan may be a good option for you. Compare plans carefully to find one that meets your needs and budget.

How to Choose a Cancer Insurance Plan

When choosing a cancer insurance plan, there are a few things you should keep in mind:

• The cost of the plan: Cancer insurance plans can vary in price, so it is important to compare plans to find one that fits your budget.
• The level of coverage: Some plans offer comprehensive coverage, while others may only cover specific types of cancer treatments. Make sure to choose a plan that offers the level of coverage you need.
• The terms of the plan: Read the plan carefully to understand the terms and conditions, such as the waiting period, the elimination period, and the maximum benefit.

Once you have considered these factors, you can start comparing plans. There are many different cancer insurance plans available, so you should be able to find one that meets your needs.

You can either run a quote for a plan (and apply for coverage) directly from our site or schedule a short phone call to discuss options.

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!

One Bucket Or Two? - Another Long Term Care Option

When people are planning for retirement, one very important piece of the puzzle is often neglected. While thinking of once-in-a-lifetime trips and pickleball sound fun, long term care expenses have to be part of the equation. 

As mentioned in a previous post, the "no go years" happen when one's health deteriorates into a chronic illness. Caregivers are expensive in a facility and can cost even more to be in a client's home. In a short amount of time an entire retirement savings can be gone.

I like to say that people who buy Long Term Care insurance (LTCi) are "forward thinkers". And for many younger "forward thinkers", say under 40 years of age, it can be cost effective to look into a life insurance policy with "living benefits", which can be used for long term care expenses, instead of a traditional LTCi policy.  In other words, one could use their life insurance while they are still alive.

These types of policies come in different formats and pricing. Generally speaking, here are a few difference in these hybrid life/LTCi combo policies.

• Underwriting: Since the policy is a life insurance policy, the underwriting guidelines may be different. I've seen LTCi policies be declined, yet the client is approved for a life insurance policy. However, if the LTCi portion is a separate rider, it can be underwritten apart from the life insurance. 
• Benefit payments: Many of the policies with Chronic Illness riders or equivalent Living Benefits pay the benefits directly to the insured, but some with true LTCi benefits may require receipts for reimbursement. Check with you agent to find out which is best for your needs.

Traditionally, these "living benefits" were found exclusively on permanent life insurance policies, like whole or universal life. Recently we found a carrier who also offers a term life policy with the living benefits included. 

There is one important part of this combo life insurance/LTCi piece that needs to be covered. Generally speaking, if you decide to purchase one of these products, be aware that if you become chronically ill and need the benefits to cover the cost of your care, you may exhaust your life insurance benefits which could be of use to your survivors when you die.

This is where the buckets come in. Many of these policies have one bucket of money, and like stated above, can be used for either life insurance or long term care expenses, but not both. (I have seen a version that keeps a small amount of life insurance aside, say $10,000). 

On the other hand, there are also policies with two buckets of money, with each being able to pay out. For example, let's say you have a $100,000 policy and have a stroke. You can use up to the $100,000 for your care until that bucket is empty. If you should die, the second bucket is still full for your life insurance needs. 

The "two bucket" policy can cost more, and that is because of the potential for paying out twice (once for your chronic illness, again at your death). 

Let's try another example of the same $100,000 policy, but change things up a bit. Again, you have a stroke, but after using half of the money, $50,000, you pass away. At that point the life insurance bucket pays out it's $100,000, so the total payout is $150,000.

When I talk to clients about LTCi one objection is raised far more than others. "What if I die before I need it?" It's a reasonable question, because LTCi can be expensive and if someone were to suddenly pass away, the premiums would be for nought. However, with a combo plan, it will still pay out the death amount, so nothing is "wasted". 

Also, traditional LTCi policies have a claus that states that the insurance carrier has the right to raise the premiums of policies that are in force if they need to. This happened after the Great Recession of 2008. The insurance companies had invested heavily into the stock market, and when the market dropped so did the amount of money on hand needed to pay claims. Several companies raised premiums 15-20%, with at least one carrier going for a second premium rate hike not long after the first. With life insurance, your rate is locked in.

Combo products can be a useful part of an insurance plan for a lot of people but make sure you ask your agent or insurance broker about your options and how it will pay if you need it.

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!

A New Addition To Our Insurance Line-Up - Dental!

For the last few years we at Surf Financial Brokers have offered a dental/vision/hearing combo plan. And to be honest, we weren't too crazy about it because the dental portion of the plan had a network that just didn't work for most of our clients. 

We listened to your feedback and have taken on another dental and vision insurance carrier. However, instead of a "combo" product, the new plans are separate. We still offer the combo plan and if you need hearing coverage, it will be available.

One of the issues I have heard over the years is that dentists tend to go from one network to another, and rarely notify their patients ahead of time. There's nothing more frustrating than finding out after a cleaning or other service has been completed that your dentist no longer is in the network. With that in mind, we offer "out of network" plans that can work as well. 

We haven't done away with the old plans, and like our many of our other products, we will continue to offer a variety of carriers. That's the nice part about being a truly independent insurance agency. We don't work for a company, but instead the companies work for us.

The really good news is that you can get a quote directly from our site. And if you find the plan that you like and fits your budget, you can apply online. It's that easy!

Have a question? Book a short phone call from our site or drop us a note below in the comments. 

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!

Merry Christmas, Happy Hannukah and Happy New Year!

First, I'd like to thank all of our clients throughout the southeast for allowing Surf Financial Brokers to help with their life insurance needs, as well as their disability, cancer, accident and long term care insurance. We greatly appreciate the trust people have put in us. With that in mind, I also want to thank everyone for all the referrals you sent our way. When we get a referral, that typically means our agency can spend more time on our clients and less time prospecting. 

Last week I was having a cup of coffee with one of my awesome clients and she mentioned how important this time of year is when it comes to family and loved ones. As I was telling her that most people don't give life insurance (or other lines, for that matter) a serious look during the holidays, my client comments said, "You would think that people who love their families would use the message of Christmas to make sure they have enough insurance." I love that. 

My client was correct. When people who need more coverage say they can't buy insurance because they have to buy gifts, I cringe. I remind them what Christmas could be like without them in the picture and that those gifts won't help keep their family in their home or help pay the bills due to the loss of income. Most of my points fall on deaf ears.

I invite you to visit our calendar and schedule a short phone call to discuss your insurance game plan. If you decide that you still don't want to purchase until "after the New Year", that is fine. However, we can start the process from now without a payment until the New Year. 

You may not have any life insurance, or just a little through work. We can help you determine your need, which truthfully is the amount your family would need. Consider it your New Years resolution. 

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!

"Group Benefits" For The Self-Employed

I spend a portion of my time working in the "voluntary benefits" arena as an enroller, or "benefits counselor". In a nutshell, I enroll benefits for large groups, like schools, hospitals and municipalities, for example. Typically I sit with an employee in a one-on-one meeting and review their current benefits and check to see if they need any other insurance poducts. It's great to meet these folks and help them with insurance products like dental, vision, disability, accident and life insurance. 

The majority of my working time is spent working with individuals, however, many of which are self-employed. Realtors, sales professionals, small business owners and other "contract employees" or 1099's for instance, make up a lot of my clients. These great people are just as deserving of having decent insurance products, regardless of the size of their company. 

With this in mind, we invite all to visit our site and take a look at some of our voluntary products that can be purchased on an individual basis. There, one can get quotes for products such as life, cancer, hospital indemnity and accident insurance right from our site. And if you see coverage you like you can even start an application!

For some of our other products, like disability insurance and long term care insurance, one can book a short phone call to get a quote as accurate as possible.* We are independent agents and have access to many of the best policies. 

As independent insurance agents, we are also independent contractors, which means that we use our own products. Having a disability or cancer plan come out of our bank account instead of a paycheck doesn't change the fact that we need these important insurance plans. 

Please take the time to get a quote for yourself or your family. It probably won't cost as much as you think. 

*Quotes are not guarantees or offers of coverage and all policies are subject to underwriting. 

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!

Video: The Most Important Thing You Read All Day

Were you aware that this country has a looming retirement crisis? The truth is that far too many people are not contributing to any type of savings plan, including 401(k)s or SEP's. And far less have planned for long term care expenses, which could erode any savings that are in place. 

On top of that, only about 40% of people have the amount of life insurance they actually need, with many people not owning any life insurance at all. That leaves a lot of families in a precarious predicament if the breadwinner should die too soon or unexpectedly.

What if there was a way to make sure your family was taken care of while accumulating cash for a retirement "supplement"? Or, if need be, that money can be used for long term care costs. Would you be interested in learning about such a plan? Let us know by replying in the comment section or directly to the video. We can book a short phone conversation to answer any questions you may have. 

Watch our short video! 

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!

Do You Have A Rainy Day Fund?

We often hear about people who need funds in an emergency. Someone who has a medical emergency, for example, may need some quick cash for hospital bills, deductibles, co-pays. Along with that could be a shortage of money to pay bills while out of work. 

A general rule of thumb has been to make sure you have six months of money saved to pay bills, but many rarely do this. The solution has been to wait until an emergency occurs, then start a GoFundMe page and ask friends or family (or even strangers) to contribute. People who know I sell insurance will ask me "Why didn't you sell that person some insurance?"  My answer is "I tried but they didn't find it important enough at the time."

However, if one owns a permanent life insurance policy that builds cash value, asking friends and strangers to kick in doesn't have to happen. And by overfunding a policy*, building that cash value can happen faster. 

I knew of a gentleman who had quickly built a small fortune in a life insurance policy and would "warehouse" his money until he needed it. If he saw a piece of property he wanted to purchase he would call the insurance carrier and "borrow" against his policy, and within 6-8 months he would have the loan paid off. By using this method he avoided having to fill out loads of paperwork at a bank and, in most cases, he would have the money within a few business days.

The point of this is that life insurance that builds cash value can be used for emergencies, like a critical illness, or many other things. If you have questions about how this works, visit our site and book a short phone appointment to discuss. In the meantime, please stay healthy. 

*There are limits as to how much one can contribute to a policy which are set by the IRS. Tax penalties can apply if the policy isn't structured correctly.

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!