Why You Shouldn't Wait To Buy Life Insurance in 2025

When it comes to life insurance, many people tend to put it off. They might think, "I'm young and healthy, I don't need that yet." However, delaying this important decision can cost you more in the long run.

Here's why buying life insurance when you're younger is a smart financial move:

1. Lower Premiums:

   • Healthier, Lower Risk: Younger individuals are generally healthier, making them less risky to insure.
   • Longer Life Expectancy: Insurance companies factor in your life expectancy when calculating premiums. A younger age means a longer projected lifespan, resulting in lower costs.

2. Locking in Rates:

   • Protection Against Future Rate Hikes: By purchasing a policy early, you lock in a fixed premium rate. This shields you from potential future rate increases due to age, health conditions, or economic factors. *

3. Peace of Mind:

   • Financial Security for Loved Ones: Knowing that your family is financially protected can provide immense peace of mind.
   • Legacy Planning: Life insurance can help you leave a legacy, ensuring your loved ones are taken care of, especially if you have dependents or significant debts.

4. Potential Tax Advantages:

   • Tax-Free Death Benefits: In many cases, the death benefit paid to your beneficiaries is tax-free, providing a significant financial boost.

Common Misconceptions:

• "I'll Buy It Later": Waiting can lead to higher premiums and potential health issues that could make you ineligible for coverage.
• "It's Too Expensive": While the cost varies, there are affordable options, especially for younger individuals.
• "I Don't Need It Yet": Even if you're single and childless, life insurance can protect your assets and cover final expenses.

Taking the First Step:

If you're considering life insurance, it's best to start early. Here's how to get started:

1. Consult a Licensed Agent: They can help you assess your needs and recommend suitable policies.
2. Shop Around: Compare quotes from different insurers to find the best deal. An independent agent is best suited for comparing policies. 
3. Understand Your Policy: Familiarize yourself with the terms, coverage, and limitations of your policy.
4. Review Regularly: As your life circumstances change, re-evaluate your coverage needs to ensure adequate protection.

By taking proactive steps to secure life insurance, you're making a wise investment in your future and the future of your loved ones.

*Depending on the type of coverage you purchase, you may be "locking in rates" for 10, 15 or 20 years, or even a lifetime!

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. Please subscribe to this blog!

2 Good Reasons To Look At Long Term Care Insurance

There are two things that most people can agree on when it comes to Long Term Care services. The first is that people are living longer, and with that come more demand for these services. And the second thing is that people are geographically more spread out from their families, which means family can are less able to be "informal caregivers". In other words, as we age, we need to prepare for paying for long term care services. 

However, there is a major obstacle - cost. Paying for long term care services can be expensive and there doesn't seem to be any relief in sight. For those who don't own many assets, Medicaid may be the answer. However, the best option for those who want to preserve their savings is to purchase Long Term Care insurance (LTCI).

LTCI comes in many forms and prices can vary. There are traditional LTCI policies which reimburse the insured for the cost of care, up to a monthly or aggregate limit. Also, at the time of the application, the client can choose how much and how long they want coverage for. For example, a policy may pay a maximum of $4000 each month for 3 years. 

Another option is life insurance with "living benefits" that can cover chronic illnesses. These usually just pay a set amount each month as a percentage of the face amount of the life insurance. Keep in mind that when using these policies, the face amount decreases. On the other hand, if the client dies without using the LTCI portion, the policy still pays the face amount. 

If you have questions about LTCI drop us a note or visit our site and reach out to us. 

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. Please subscribe to this blog!

Who Needs An Accident Insurance Plan?

 A client of mine called me this week and said she was looking for a policy that could help her husband who is in salesperson and periodically gets hurt, ending up in the emergency room or urgent care center. I suggested that she consider an accident insurance policy that could cover him when he's working and when he's off. 

These plans cover cuts, burns, broken bones, dislocations and even accidental death. And they are good way of paying those unexpected bills that come with be injured, like copays, deductibles and loss of wages.

They are super affordable and you can even cover your family, which is great if they are active or play sports. 

As a self-employed person myself, I don't have access to workers' comp.  If I get hurt while working, or even when I'm enjoying my weekends, I know that I don't have to worry about forking over a few hundred dollars out of the blue.

Let us help you remove this kind of financial landmine.

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. Please subscribe to this blog!

The High Cost of Not Having Long-Term Care Insurance

 

Long-term care insurance is a crucial financial tool that can protect you and your loved ones from the significant costs associated with long-term care services. Unfortunately, many people overlook the importance of this coverage, leading to potentially devastating financial consequences.

Understanding the Risks

• Rising Costs: The cost of long-term care services has been steadily increasing over the years. Without insurance, you may be forced to deplete your savings or rely on family members to cover these expenses.
• Medicaid Dependence: If you're unable to afford long-term care out-of-pocket, you may need to qualify for Medicaid. This can involve a significant asset depletion process, potentially jeopardizing your retirement savings.
• Emotional Burden: The emotional stress of facing a long-term care need can be overwhelming. Having insurance can provide peace of mind and allow you to focus on your health and well-being.

Potential Consequences of Not Having Long-Term Care Insurance

• Financial Ruin: The cost of long-term care can quickly drain your savings and retirement funds, leaving you financially vulnerable.
• Family Strain: The burden of caring for a loved one can be physically, emotionally, and financially taxing on family members.
• Loss of Independence: Without adequate care, you may be forced to give up your independence and move into a nursing home.

Why Long-Term Care Insurance is Important

• Financial Protection: Long-term care insurance can help cover the costs of care, protecting your savings and assets.
• Peace of Mind: Knowing that you have insurance can alleviate stress and anxiety about your future.
• Flexibility: Many policies offer a variety of benefits, including coverage for in-home care, assisted living, and nursing home care.
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If you're considering long-term care insurance, it's important to:

• Start Early: The earlier you purchase a policy, the lower your premiums are likely to be. Be aware that some carriers have higher minimum ages than others.
• Evaluate Your Needs: Consider your family history, health conditions, and desired level of coverage when choosing a policy.
• Shop Around: Compare policies from different insurers to find the best deal for your needs. This includes "stand alone" polices as well as life insurance with living benefits, which can also help solve the problem of paying for these services.

By understanding the risks and benefits of long-term care insurance, you can make informed decisions about your financial future.

If you have questions about long term care, please drop us a note or schedule a short phone or Zoom appointment.

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. Please subscribe to this blog!

Why Realtors Need Accident Insurance

Being a real estate agent can be a physically demanding job. From walking through properties to the constant travel between open houses and negotiating deals, there's always a risk of accidents. That's why it's crucial for realtors to have accident insurance in place.

Common Accidents for Realtors

• Falls: Walking through properties, especially older ones, can be hazardous. Slippery floors, uneven stairs, and loose handrails can increase the risk of falls.
• Injuries from Objects: While inspecting properties, realtors may encounter sharp objects, heavy furniture, or other potential hazards that could cause injuries.
• Vehicle Accidents: Driving to appointments and showings is a significant part of a realtor's job. Unfortunately, car accidents can happen, leading to injuries and potential loss of income.
• Work-Related Stress: The fast-paced nature of the real estate industry can lead to stress-related health issues, such as heart problems or digestive disorders.

Benefits of Accident Insurance for Realtors

• Medical Expense Coverage: Accident insurance can help cover the costs of medical treatment, including doctor's visits, surgeries, hospital stays, and rehabilitation.
• Lost Income Protection: If an accident prevents a realtor from working, accident insurance can provide financial support to help make up for lost income.
• Peace of Mind: Knowing that you have accident insurance can give you peace of mind and allow you to focus on your job without worrying about the financial consequences of an accident.
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How to Choose the Right Accident Insurance

When selecting accident insurance, consider the following factors:

• Coverage Limits: Ensure that the coverage limits are sufficient to cover your potential medical expenses and lost income.
• Waiting Periods: Some policies have waiting periods before benefits become effective. Be aware of any waiting periods and choose a policy with a shorter waiting period if possible.
• Exclusions: Review the policy carefully to understand any exclusions or limitations that may apply.
• Premiums: Compare premiums from different insurers to find the most affordable option that meets your needs.

An accident can cause serious injury, physically and financially. Visit our site and run a quote for you or your family. You can even apply online! 

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. Please subscribe to this blog!

Why Self-Employed People Need Cancer Insurance

As a self-employed individual, you enjoy the freedom and flexibility that comes with being your own boss, but with that freedom comes responsibility. One of the most crucial responsibilities is protecting your financial well-being. A cancer diagnosis can ruin that well-being quickly. This is where cancer insurance becomes essential.

The Unique Risks for Self-Employed Individuals

Unlike traditional employees who often have employer-sponsored health insurance, self-employed people are responsible for their own coverage. This means shouldering the entire cost of premiums and deductibles. A cancer diagnosis can be financially devastating, and without proper insurance, the consequences can be severe.

• Loss of Income: A cancer diagnosis often requires time off work for treatment, recovery, and appointments. For self-employed individuals, this means a direct hit to income.
• Mounting Medical Bills: Cancer treatment is expensive. Even with health insurance, out-of-pocket costs can be overwhelming.
• Business Continuity: A prolonged absence due to cancer can impact business operations, leading to potential financial strain.
  

The Benefits of Cancer Insurance

Cancer insurance is designed to provide financial support during a cancer diagnosis. While it doesn't replace health insurance, it offers additional coverage to help with:

• Medical Expenses: Covers costs not covered by health insurance, such as co-pays, deductibles, and alternative treatments.
• Lost Income: Provides a lump sum payment to help replace income during treatment.
• Living Expenses: Helps cover everyday costs like mortgage payments, utilities, and groceries.

Choosing the Right Cancer Insurance Plan

When selecting a cancer insurance plan, consider the following:

• Coverage Levels: Determine the level of coverage that aligns with your financial needs and risk tolerance.
• Benefit Structure: Understand the types of benefits offered, such as lump sum payments, income replacement, or medical expense reimbursement.
• Waiting Periods: Be aware of any waiting periods before benefits can be claimed.
• Cost: Compare premiums and coverage options to find a plan that fits your budget.

Remember: Cancer insurance is a proactive step towards protecting your financial future. While it's impossible to predict the unexpected, having a solid insurance plan can provide peace of mind and financial stability during a challenging time.

Visit our site and get a quote for a plan that covers you or your family. You can even apply online! 

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. Please subscribe to this blog!

The Final Expense Alternative

We have all seen the ads on TV for Final Expense insurance, which helps you pay for burial expenses. Most of these ads are for whole life insurance and can be more expensive than you'd expect. And most of the time the coverage is not enough.

When calculating final expenses, most people just consider the cost of a funeral. However, a missing cost are costs associated with dying. Many people don't just die suddenly. There may be a long illness or accident, resulting in a hospital stay and the ensuing medical bills. Not to mention other fees like attorney fees and meals (some like to eat at funerals). 

If someone is relatively healthy they can purchase a Guaranteed Universal Life (GUL) policy which may require some health underwriting, but can save a lot of money in premiums compared to the "guaranteed issue" policies seen on television. Not a lot of insurance carriers still offer GUL's but we have access to the ones that do. 

Let us help you by setting a phone appointment for a short conversation. We are your "friends with living benefits".

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. Please subscribe to this blog!