How To Avoid Using a GoFundMe Page

One of the many faults of our current healthcare system is the dizzying array of deductibles and out-of-pocket expenses that come when we least need them. A few months back I spent nearly a week in the hospital. The total bill was over $80,000 and thankfully my health insurance covered the vast majority of it. However, I still had bills to pay. Yes, my deductible is high and I expected that, but there was also the issue of various health care professionals who were not in my network, as well as my loss of income. 

When the dust settled I was on the hook for around $7000. That's a lot of money, regardless of your income. One option could have been to to call the hospital and the other providers and ask to be put on a payment play. There's nothing like making payments for the next 10 years. Or I could have started a GoFundMe page and asked friends to pay for me.

As an insurance agent, I think a GoFundMe page is a horrible approach, yet many people do it. And not trying to sound political here, but I find it ironic that the people who claim to be against socialized medicine are the ones I know that have gone that route. In other words, the very people who think that we shouldn't have to contribute through taxes to assist those who can't pay their medical bills are asking their friends, neighbors and family members to contribute to their medical bills. 

Some will argue that it's different because they are not being forced to pay into a government plan, but the concept of having to chip in when someone didn't have insurance is generally the same idea. Voluntary or not, having a community of people give "assistance" is still a socialized plan. Or is it? 

Sometimes I have these kinds of thoughts and question if I've thinking in the wrong direction. So I picked up the phone and asked a few people I trust and respect for their thoughts on the matter. A couple of them were also insurance agents who I have known and referred clients to in the past. Another group were local business associates I network with locally. I asked them all the same question without being too specific. And for the record, none of these people were extremely political in one direction or the other.

The question posed was as follows: If someone doesn't have health insurance and starts a GoFundMe page to pay their hospital bill, does asking others to contribute amount to socialized medicine?  For the most part, they all said it did. There was a bit of discussion as to the difference between being forced to pay taxes or "contributing" voluntarily, but the general consensus was, in the words of an attorney friend, "If you're having others pay your bills, you've just become a socialist." 

That all being said, there is another option, and that is to shift the burden to an insurance company. With an affordable supplemental plan, such as a Hospital Indemnity plan, these out-of-pocket costs can be reduced dramatically. These plans pay you, not the doctor or the hospital, and can be used at your discretion. Many are available through work, via payroll deduction, and have saved many a family from financial ruin. 

Don't rely on the kindness of others to cover your bills. I've attended too many fish fries and other fundraisers when there's a need, but it could all be avoided by having proper insurance in place to begin with. If you have a question or would like to start the application process, go to our site and book a phone appointment. We'll be happy to assist you. And as always, stay healthy and safe.

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. 

Professionalism In Life Insurance

Selling insurance is a highly regulated affair. Agents have to go through a series of exams and ongoing training in many areas, such as our duties and responsibilities as fiduciaries. In my home state of South Carolina, for example, we are required to have a portion of our continuing education courses include an ethics class.

All of this revolves around the professionalism of agents selling life and disability insurance, as well as other types of coverage, such as cancer plans, Medicare supplements and more. When talking to clients, agents have to discern to the best of their ability, what is in the interest of the client. That means asking a lot of questions and learning what the client's needs and budget are. 

I have had people get mad at me as I questioned them on their debt, income, family dynamics and work life. It is a process we in the business call "fact finding", but it can be intrusive to some. At the end of the process I usually ask for some feedback like, "How do feel about the conversation we just had?" I get all kinds of responses, from "uncomfortable" to "good". But the most common remark I hear back is, "You made me think of things I hadn't considered before." 

Getting people out of their comfort zone is part of being an effective life insurance agent. But the key is to do it professionally and tactfully. I have witnessed agents berating clients and squirmed as they made comments like,"What were you thinking when you took on all that debt?" or "Why would you want such a small policy?" Not good.

One of the reasons it is legislated to take continuing education courses is because of these kinds of actions. On many occasions I have wanted to scream at someone for making a bad financial decision, but I don't. Clients usually are aware of their own bad choices and giving them a hard time about it doesn't make me a good agent. Instead, I try to bring up the subject and think of ways "we" can resolve it. 

Another part of this discussion is how we deal with our senior clients. As mentioned earlier, many agents work in the Medicare market, which also can lead to sales in final expense life insurance and products dealing with chronic illness, like Long Term Care and our newer Short Term Home Health Care policies. I have colleagues who love to work in the "senior market" and are very good at it. They are patient and very low-key, which is how it should be done. Many times they'll ask the client if there are any adult children who need to be involved in the process and invite them to participate in the discussions. Again, it is all about ethics and doing the right thing. This is also a great way to build trust and earn referrals.

I, on the other hand, prefer to work with business owners and self-employed individuals. Nothing against seniors, but as an entrepreneur, I appreciate that these people typically have no benefits through work and have to cobble together a "package" to protect themselves and their families. Again, I have a duty to find out what their pain points are and find the best way to help. 

One thing that can get people off track is the word "commission". Yes, I work on commission, as do countless others in the insurance industry, but that doesn't make us all sinister and greedy. Are there a few bad apples? Of course, but as I've stated in earlier posts, those agents usually don't last long in the business. As the president of Surf Financial Brokers, I am always on the lookout for good agents, but I usually will only take on an agent who has been in the industry for at least two years. It's not a very scientific approach but it let's me know that the agent will probably stick around for the right reasons.

If you need help with your life or disability insurance, please let us know. You can book a phone appointment here. And as always, stay healthy. 

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.  

4 Ways We Are Making Buying Insurance Easier

Buying insurance has always been a hassle for most people. I am fully aware that of the stereotype of the high pressure insurance salesman, pushing the client to spend more "for the family's sake". Life insurance agents are painted as cheesy villains, much like used car sales people. I remember commercials on TV that would mention "no salesman will call on you", which implied that you could get a policy without that horrible person coming to your home.

As an agent who has been in the business for years, I can attest that there are a few bad apples in the business. However, those people generally don't last long. Not working in the interest of the client (and only for a commission) eventually weeds them out. And the vast majority of us are generally doing what we think is in the client's interest. 

With all of that said, and against a backdrop of Covid-19, we at Surf Financial Brokers have taken measures to make purchasing life or disability insurance as easy as possible for you. Here are a few ways we have done this:

1. Our quoting engine in the top right corner of the page. Even though this is from just one of our carriers, it gives you a ballpark of what a policy may cost. You know your budget better than we do. Find out what you can afford and work from there. Whether you are seriously considering purchasing a life or disability policy, or just "kicking the tires", you can figure it out without an agent looking over your shoulder. 
2. Our scheduling calendar. Rather than trade emails back and forth to determine a time to discuss your insurance needs, you can now see what times we have available and schedule a time that works for you. We'll give you a call to discuss your needs and go from there. Our calls rarely last more than 30 minutes. 
3. Phone applications. As mentioned in an earlier post, we can take your application over the phone in most instances. Some of our carriers prefer to do a "drop ticket", in which we get your basic information and they have an underwriter take the rest of your information directly. Either way, you can be in the comfort of your own home or office without having to travel to an insurance office. 
4. Contactless delivery. Several of our insurance companies have now made necessary changes to get you your policy without having an agent have to be there to get signatures. 

One of the few good things the pandemic has brought about was much needed change to an industry that sorely needed it. And to honest, it's made our work easier too. Speaking for myself, I can now spend less time prospecting and more time helping the clients we have. As a result, our clients know that we will be available if needed. That gives them peace of mind knowing that their families' financial security is taken care of, and not wondering if the agent who sold them a policy is still in the business.

We realize that you can get a life or disability policy (we also offer a full line of ancillary products) anywhere, but we hope that by making these minor changes you will decide to give us an opportunity to help you secure your family's needs. 

And as always, stay healthy.

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.  

The "Why" of Insurance Sales

Last week I was listening to an life insurance selling podcast (yes, I'm a nerd) and the topic was on why people get into selling insurance and the motivation to stay in the business. In other words, if someone were to ask me why I sold insurance, what would my response be?

Naturally, the correct answer was that agents want to help people protect their families' financial security. They gave examples of handing claims checks to grieving widows who asked, "Am I going to be okay?" while small children played in the background. Knowing that this family could stay in their home while making a commission was their calling and these agents felt like they had accomplished something when they convinced the client to buy a policy.

On the other hand, agents who were in the business just for the money were the ones who never lasted long. Their intentions were short-sighted and self-centered. I began to ask myself questions. Was this me? Am I making this all about me? Am I a bad person?

I thought back to 1985 when I first got into the insurance business. At 23 years old I really didn't know what to do with my business degree from North Carolina State University. No one was beating down my door asking me to come work for them and my savings was starting to shrivel, so I answered a classified ad in the local newspaper. "Make $20k a year, no experience necessary". 

Not being jaded enough at the time, I believed everything that the recruiter said. The great pay and working for a top-notch company was going to be the answer to all of my dreams. Looking back though, he never mentioned anything about helping families out when their time of need came. And the accident plan we sold paid a whopping $37.50 each day someone was confined to the hospital. The plan was a loser and my co-workers and I probably knew it. 

I left that job and moved on. Eventually I worked for companies that I had actually heard of. Some of those companies had training programs and from time to time I would hear the old "why are you selling insurance" question posed again. 

My position had changed though. Now I had become a student of the game. I did enjoy helping families and the proof was in my first claim check delivery. The carrier I was working with would ask us to deliver smaller claims (under $10,000) in person. This was to accomplish two things: 1) We could express our sympathies in person for the loss of a loved one and 2) to get referrals. In regard to the latter, I could usually get a few names after handing someone a check for a few thousand dollars, so that was easy. 

My first claim check delivery was too an elderly gentleman in a small town. At first I thought he was the deceased and was a bit confused. The house was old and there was a wooden wheelchair ramp which had seen better days. When the gentleman came to the door he acknowledged who he was and clarified that his son had been the one that died. He told me how his son, a truck driver, had been found dead in the cab of his semi, which was now parked in front of the house. Apparently a heart attack was the cause.

At that moment I realized that this man was in emotional pain and I was doing something good by bringing him this check. He beamed as he mentioned that this was the first good news he had received in a while. On top of it all, I learned that I was his first visitor in a few days as well, and since he was wheelchair bound, he didn't get out much. We talked for over an hour as he told me about his son and his own career. I found my "why". That short amount of time with him had brightened his day as well as my own. 

Over the years my "why" changed for the better. Over the years I've delivered several checks (most companies mail them out nowadays) but I still think back to that gentleman who helped me understand that my real job isn't selling a policy, but convincing someone to let me help them secure their finances at a time of loss and sadness. 

If you need help finding a policy for you or your loved ones, let us know. You can book an appointment on our calendar and we'll help you over the phone. And as always, stay healthy.

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

My Plan Before Covid Struck

When I wrote my book on sales, "You're Going To Be Great At This!" in 2017, I had a strategy in mind for marketing it. I had been attending my local Toastmasters group for a few years and was working on my speaking skills. While there I met some people who were also aspiring authors and were working on presentation skills to support their books. 

My plan was to use my book, my speaking engagements and my insurance agency to all promote each other. If I spoke, I could mention the book and my agency. When meeting insurance clients, I could mention my book, etc. I could also speak locally to civic and other organizations on insurance topics, hoping to attain to clients, as well as talk up my book. 

Things were starting to happen. I was asked to speak to some new real estate agents about sales, and in my talks I mentioned the book, as well as life and disability insurance. One of the interesting things that happened was that I was enjoying it all. The change was fun and interesting. 

As I mention in the book, the first thing we are selling is ourselves, and I took that thought and ran with it. My agency grew a bit slowly, but steadily. Not only did I get a few more life insurance clients but I also met some agents who wanted to work with me. And I also met some great people along the way who were willing to give me some guidance, which I can always use. 

In a nutshell, I had created a PR firm with one exclusive client - me. 

Then the virus hit and things changed quickly. My insurance business dropped some, but not horribly. Since I typically meet people in coffee shops or their place of work, I just couldn't get out to see people with the quarantine in place.There was interest in some policies since a pandemic was hovering overhead. However the speaking engagements I had booked evaporated.  I was looking forward to doing one in particular, which was ironically at a long term care facility, speaking to a networking group consisting of good people who offer products and/or services to seniors. The people now had a whole new set of problems to deal with and I wasn't on their radar at all.

Taking a good look at the rest of the business community I could see others adapting to the brave new world. More video conferencing would have to happen. "Distancing while selling insurance" became my new mantra. And since I was selling myself, I needed to step up my social media game. More than ever, I was going to have to find more efficient ways to market my book, my insurance practice and my burgeoning speaking business. 

We've had the systems in place to take insurance applications over the phone for years. As a matter of fact, I've done it a handful of times and had no issues. Now I just needed to let people know that this was available as an option. Slowly, people are starting to realize that they can book an appointment with me online and have a good conversation to discuss their needs and budgets.

Using that knowledge, I transferred it to my other businesses. Where I was planning on speaking to a group in person, I can now use Zoom (or another app if needed) to speak to groups. And thankfully my book sales have continued to be steady. 

My hope is that when this is all over and we get back to a sense of normalcy again, I'll be able to get in front of a group, large or small, and give another one of my talks, either discussing insurance products we offer or the sales process. A colleague and good friend said that he thought the Covid situation was going to give us all a "reset" on all businesses, not just insurance sales. We are all having to make changes that may stay with us for a while. That's fine. I'm definitely flexible as long as it works. 

Let me know if you have had to make changes and if they are working. In the meantime, I hope you all have continued success and I look forward to seeing (or hearing) from you soon. And as always, stay healthy!

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

We Love Referrals!

When you find something you feel really good about, you tend to want to share it with your friends and family. At the same time, when you make a recommendation to someone, you feel like your reputation is on the line. 

We understand that. 

We want you to feel confident about referring your friends, family, and colleagues to us. That's why we think it makes a whole lot of sense to spell out exactly what we do when we get a referral. That way, both you and the person you refer to us know exactly what to expect and what not to expect from us. 
So, here's how we work with people who are referred to us:

Our initial meeting can either be at their home or at our office, and there is absolutely no cost for our initial meeting. 

Our conversations are 100% confidential, whether or not we eventually end up working together. 

We start with a review of what's important to them; in other words, what they value most in life. 

Next we move to a review of their current situation from a comprehensive financial basis. This is really the only approach that makes sense, because all the areas of our financial lives are interrelated. 

We finish the meeting by identifying strategies that may help them get from their current situation - where they are now - to "What's Important" - where they want to be. 

After our meeting, we leave it up to them to call us if they would like to visit further. 

We are insurace advisors, and we don't think any decision should be made in a high pressure environment. So, those we meet with should never expect us to pressure them into any particular course of action. We review, analyze, make our recommendations, then we let them make the decision. 

Should your referral decide to become a client, they should expect to hear from us on a regular basis. We believe that it is our responsibility to stay in touch with our clients. 

Thanks for your referrals! And as always, stay healthy!

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

Our Interview With Life and Health Agent Davan Johnson

I asked my good friend, Davan Johnson, to let me pick his brain recently. He's the owner and founder of Davan Enterprises Insurance Agency, as well as a integral part of his community and active member of several service organizations in and around his home town of Bristol, Tennessee. We discussed his insurance business, his thoughts on finding clients and sales in general. He offers great insight and I thought it would be helpful to know what makes us insurance agents tick. 

Thanks for talking with me Davan. First off, I'm curious as to how you got into the insurance business.

I had left a career in the restaurant industry that I thought I was going to retire from but quickly realized that I didn't actually own or have control of my destiny. So I was trying to decide what was next. I knew this time I wanted to do something that created residual and passive income. I chose insurance because I had been around it all my life with my mom using it as a fall back position. She was typically always an employee though, not an agent. But I remember pretending to fill out paper applications in an empty office whenever I had to be at the office with mom. She had a whole office building to herself with multiple offices, kitchen and waiting area. Additionally, I wanted to have a business that would allow me the time and freedom to choose my own schedule, as well as spend time with family for vacation and holidays. I had given up a lot of that working in the restaurant business.

Tell me how you find your prospects.

I used to do a lot of cold calling when I started out. I'd spend my time making lists and driving to make impromptu appointments, wasting a lot of gas going back and forth. Driving ALL day and almost all week to only get one or two appointments, and possibly resulting in one case or actual sale out of that. Now a lot of people make it in the business cold calling and that's great for them, but I have come to realize how I work best. So I begun doing more networking. Joining groups and setting up one-on-one meetings to get to know each other, which present warm leads and referrals. My business is about 90% referrals now. I work smarter, not harder, and these people are actually calling me. They are the ones have need, have time and money to spend on my services. I also positioned myself to offer unique products that most insurance agents don't so I can work with other agents and not be seen as a threat or competitor. 

Is there a product you think everyone should have?

Yes, I think there are several but one of the most uncommon ones is Legal Insurance. Unlike any other insurance we carry you don't have to wait for something BAD to happen before you can use it. You can be proactive. It's like an attorney on retainer with the power of a law firm in your pocket thanks to the apps and technology. When I was unemployed for a certain duration trying to figure what my next step was there were two budget items I was resolute not to cancel: My life insurance and my legal plan. People don't know this type of thing exists and yet it is so powerful giving people peace of mind so they don't have to check their checkbook before they can check their rights.

How do you prepare for a client meeting?

I actually use a worksheet to help guide me to the result of the meeting. But also, I try to review their social profiles to learn about them. I use the FOR method: Family, Occupation and Recreation to get to know them. It's all about finding out what is best for the client's needs.

Has Covid affected your practice?

Not much, because I have positioned my agency to be more of a referral business. Because of that it is important to keep the networking relationships strong. And during some of the downtime I've been able to re-evaluate systems in the my business.

What did you do with your first commission check?

Well, after I learned to reconcile a commission statement I most likely saved most of it because I didn't know when the next one would come. We got paid weekly.  I do know that I finally had some gas money and recouped what I spent on insurance licenses. I honestly don't remember how much my first check was which is sad, but I do remember my "can sell date" was 9/29/2012. That was the day I was officially able to sell and write my own policies. In my first month I had earned several awards, but no one was really there to mentor me on "cycles" of insurance or that when you get the BIG checks to hold some back for the slow times. Since then I pay myself a livable income and save the rest as an "emergency fund".  

Tell me about an usual or strange encounter you've had with a client.

The one encounter that comes to mind was when I was completing a life insurance application for a client. I had spoken to the client over the phone several times and the plan was that during our first in-person meeting we complete the app and submit it. This individual had the appearance of a male but when answering the questions on the application, everything was female. It was awkward for me because I had to get past some preconceptions and this was my first experience in this kind of situation. I basically decided that ultimately it was a decision for the underwriter and not me. So I filled out the application as the person responded and submitted it. It was issued! I had heard stories of people doing this before in order to get a more favorable rate, since females can get cheaper rates. Anyway, in this person's case it was legitimate and I was just unprepared for it. 

Thanks for your time, Davan! 

I hope you were able to get some quality information out of this interview. I always enjoy listening to successful agents and learning a thing or two. At Surf Financial we strive to grow and help our clients in the best ways possible. 

If you have any questions about this interview let us know in the comment section.  And as always, stay healthy

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

  

Covid-19 and Disability Insurance

As the pandemic continues to work its way across the country, there is a lot of uncertainty. But one thing is for sure and that is that people who have disability insurance (DI) in place, whether through their employer or bought as an individual plan, are grateful to have it right now. And I don't think any of our clients will be cancelling their coverage any time soon.

More than ever Americans are learning how valuable their DI plan is. In a recent conversation with a local business owner, she asked me if I would prefer short or long term disability during a time like this. Not trying to sound trite, I said it would be best to have both. This is because the Coronavirus can put you in the hospital for a few weeks, and short term DI is good for that, but other ailments may not be getting treated in the meantime. Elective surgeries can be postponed, leaving people out of work for longer amounts of time. 

One thing to be aware of is that if your employer is offering to pay for your DI coverage, that benefit can be subject to income tax. And if that benefit is around 60-65% of your income (which is close to your take home pay), expect to get another haircut from Uncle Sam. In the same vein, if your company offers a Section 125 plan, in which you can have the premiums deducted "pre-tax", again you may be subject to taxes. 

On the other side of things are the people who have to get their own individual policies. This makes up the vast majority of my clients, who are business owners, self-employed realtors or other contract employees. Generally speaking, the people who purchase their own DI are cognizant of why they need this protection. If they can't work, they can't pay their bills. For a affordable premium, these folk can shift the onus to an insurance company. 

Since these entrepreneurs are in different fields of work, from barbers to realtors to attorneys, they all have differing risk factors with their jobs. But the one thing they all have in common is that they have to work with other people who may or may not be contagious. 

As I watch our local news, I see that restaurants are closing temporarily as employees begin to test positive. I applaud them for being proactive and taking action. But if that is your co-worker, how confident or nervous does it make you knowing that you could be out of work due to the virus?

In the upper right of this page you can run your own quote (it's an estimate subject to underwriting) for disability insurance. It only takes a few minutes so check it out. You may be surprised as to how affordable it really is. 

If you have any questions about our DI plans, or any other plans we offer, feel free to drop us a confidential message from our website. We will respond promptly. And as always, please stay healthy. 

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

Memorial Day and Insurance (short post)

On Memorial Day we remember those who made the ultimate sacrifice to secure our liberties. These men and women left their families and loved ones for foreign lands to put themselves in danger. We call them heroes in honor of what they gave up for the rest of us.

With that thought in mind, we too can be heroes to our families and loved one by making a very small sacrifice. The purchase of an insurance policy can also give us security to know that the people we care about can continue to live in their homes and educate their children. For a few dollars, we can take the steps to show that, just like those we memorialize from wars, we too can make a lasting difference. 

Everyday I talk to people who tell me that a parent "took care of things" by having enough coverage, whether life, disability or  long term care, and that forward thinking saved their family. 

As we remember the fallen military personnel who sacrificed for all of us, remember that you can also make a very small sacrifice for your loved ones. 

Stay healthy and have a safe Memorial Day. 

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

Another Real Life Story For DIAM

As it is still May and still Disability Insurance Awareness Month (DIAM) I wanted to share yet another story and testimonial from someone whose life was greatly impacted due to a disability.

When Scott Rider was diagnosed with Parkinson’s disease at just 47, the life he once knew as a financial advisor and avid runner changed forever. His family's lifestyle didn’t have to change thanks to disability insurance.

I love working with clients who figure things out without me having to explain them. Several years ago I was helping a local business owner with his life and disability insurance. He said, "You know, if I die my family will bury me and have life insurance to move on with their lives. But if I get disabled and can't work, then I'm a burden. I'm not able to contribute and someone is going to have to take care of me. And that's going to cost money, either by paying someone to help me, or in lost income."  

He got it. He understood the importance of having a disability policy and knew how devastating it could affect his family if he was permanently disabled. And the money would come from an insurance company, not his savings account or his spouse's income.

Let us help you plan for those unforeseen landmines that can get in the way of your family's financial goals. 

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

A Disability Insurance Story

I've already told you how Disability Insurance (DI) works and why you probably need it. Since we are in the midst of Disability Insurance Awareness Month (DIAM) I wanted to share a story with you.

This is the story of a gentleman named Chris Akers. As you'll see, he's just like the rest of us. His story resonates because any of us could be in the same situation. Take a few minutes to watch as describes what led up to his decision to quit work due to being disabled.

As you can see, Mr. Akers understood early on the importance of purchasing a DI policy. With his policy in place, he has the peace of mind knowing that he can still pay his bills and enjoy his time.

Let us help you with a DI policy. We can take you application right over the phone, so give us a call. And of course, please stay healthy.

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

Real Estate Agents and Disability Insurance

In my area there are hundreds, if not thousands, of real estate agents. A lot of these people have become clients of mine over the years as I've built networking relationships with them and their affiliated industries. As a matter of fact, the local realtors have their own networking group that rivals any of the local chambers of commerce. 

Realtors are there own kind of entrepreneurs. There are times when the market is up, like pre-2008 when home loans were available to too many people who couldn't afford them. Let's face it, everyone would like to own their own home, but not everyone has the means to do so. And the realtors sold a lot of homes. Then the crash came and their businesses dried up. A few hung in there but times were lean.

The market rebounded until recently with the advent of the Covid-19 virus slowing things down. Nothing like 2008 (so far) agents can still show homes virtually, so it's more like a speed bump. I personally think the market will come back and the agents can get back to showing property in person. 

With the pandemic as the current backdrop, I've had more interest in Disability Insurance (DI) recently from real estate professionals. Seeing how tight their bills can get while having a drop in income has been a sort of wake-up call, and with the threat of a virus possibly taking them out of work for a few weeks, agents are starting to look into DI. 

I was having a conversation recently with one of my agents, who works in Charleston, SC, on the topic of DI. She also has been getting interest from realtors and others in the sales industry. After speaking with her I asked called some of our other agents on the east coast and they also had an increase in calls. One of the great things about Surf Financial is that we have a great network of agents who are eager to compare notes and study these kinds of trends.

If you're a realtor and interested in what a policy might cost for you, click on the "Get a Quote" link in the upper right hand corner of this post. For job classification, make sure to enter "Class 5" from the drop down box. And if you're interested in a brochure on why real estate professionals need DI, click here. 

As always, please stay healthy and let us know if you have questions. We also appreciate your referrals to this blog and our website. 

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

Universal Life Anyone?

From time to time I will have a client tell me "I know nothing about life insurance, but my friend says I need whole life" or "The guy on TV says to buy term and invest the difference".  Oddly, no one suggest Universal Life (UL) to their friends.

UL's can be a great fit for a life insurance game plan if structured correctly.  Unfortunately, they can also be confusing to agents and clients alike.  Here are some things to consider before purchasing a UL.

1.  The growth in traditional UL's are based off of interest rates.  Back in the 1970's and 1980's, when interest rates were very high, UL's were sold as investment vehicles.  When interest rates dropped, so did the growth of the policies. 
2.  The cost of insurance increases as time passes.  Unlike a whole life policy, whose costs drops with time, UL's fees increase.  If the costs surpass the growth (see #1) the policy will "eat at itself". 
3.  UL's are considered "flexible premium" policies.  An agent can offer you a minimum, maximum and target premium.  We recommend not going with the minimum, as it looks attractive but can end up with no cash value at some point.
4.  Indexed UL's are based on an "index" which reflects the markets instead of interest rates.  These can be used for retirement supplements (again, if structured correctly) and can be more affordable than a whole life.  Indexed UL's are great for the conservative person who doesn't want to be directly in the market and still needs life insurance protection for their family.

I've seen people use UL's for all kinds of purposes, including final expense (if you're healthy it can be a lot less expensive than a whole life plan) and retirement supplements (the cash value can accumulate well if structured properly). 

In the current economic situation that many individuals and families are faced with, a good UL can protect your family and provide an extra income stream in your later years. 

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

The Disability Waiver of Premium

You have decided to purchase that life insurance policy you have been thinking about. Now you have the peace of mind knowing that if you were to die unexpectedly your family could stay in there home, your kids will have the money to go to college if they wish, and your spouse will be able to handle everyday expenses. But there's one thing that is still nagging you. What if you get sick or hurt, and are unable to work? Will you be able to keep paying for that life insurance policy?

The last thing you need at that point is to have your life insurance pulled out from under you. But there is good news. Most life insurance policies have an optional Disability Waiver of Premium (WP) that you can add on when you purchase your policy. What the WP does is insure that if you are disabled and can't pay your premiums, the insurance company will pay the premium for you. Basically, it's insurance on your insurance. 

In a previous post, I told the story of my client who purchased life and disability policies at the urging of her husband. A few years later she was seriously injured in a house fire and her disability policy paid as it was supposed to. When she recovered she called me one day to ask about her life insurance policy. "They haven't drafted out of my bank account. Is my policy cancelled for non-payment?" she asked.

The answer was that the policy was still in force and that the WP of premium was triggered because we used the same insurance company for both policies. When she went on claim for her disability policy, the company cross-referenced her life policy and began paying her premiums for her. She didn't even realize she had the WP on her policy. 

When you take out a life insurance policy make sure to ask about the WP. It's usually very inexpensive and can give you the peace of mind that if you were to be sick or hurt and unable to work, your life insurance will still be in place, giving your loved ones the security you want.

Let us know if you have any questions and feel free to subscribe. And of course,stay healthy!

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

A Great Disability Insurance Story

As it's Disability Insurance Awareness Month (DIAM), I thought I'd share a story about one of my clients. We will call her Mary to protect her identity. 

Several years ago, Mary had married one of my clients, who insisted that she purchase some life insurance and a disability policy. Mary was reluctant at first, but agreed and purchased both because "my husband told me to." She was very sweet about it all and I think she was just humoring me as well as her new spouse. Each of the newlyweds were small business owners. 

A year or so after she was approved for her policy she was at home when she smelled something burning. A fire had started around an electrical outlet and she managed to get out of the house, only to realize that her beloved pets were still inside. She went back in to rescue them but the fumes and smoke were too much. The fire and rescue people found her alive but burned badly. 

I was totally unaware of the situation until I read a mention of it on Facebook. Not sure of her condition, I called her husband who said she had been moved to a burn center out of state. He had already forgotten about the policy she bought, so I sent him the claim forms, which he forwarded to her mother who was taking care of her (he had to tend to his business).

Within a few weeks the insurance company was sending out the benefit checks. Mary was unaware of any of this because she was heavily sedated. Every few months I would get copied on correspondence from the company as they continued to pay the claim. After months of healing and rehabilitation, Mary was able to leave the care of her medical team. I heard she was back in town but hadn't seen her, so I was surprised when she crept up behind me in a Mexican restaurant and gave me a hug. 

"I just want to say thank you for making sure I had that policy and following up," she said. "That money came in handy while I was away!" We spoke for a few more minutes and she left. Even though she was still on the mend she looked great and I was happy to see her in good spirits.

I share this story people because it shows how a good disability policy works. Even though the vast majority of claims are actually for illnesses, her story resonates and has led to more people asking for this coverage. In these times of Covid19, people are starting to realize the value of good insurance and we are here to help. 

If you're curious as to how much a policy like this would cost, run yourself an estimate on the "Get A Quote" tool in the upper right of the page.  Stay healthy and let us know if you need anything.

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient

Get You Some Insurance and Relax

The Greek word for "insurance" is "asfalisi", which literally means "security".  Not like a security guard, but more like a security blanket. In other words, insurance makes us feel secure knowing that if something bad should happen to us, like an accident or health crisis, our bills will be taken care of and so will our loved ones.

People love to "get away from it all", with trips, vacations, hobbies or music. We all need something to take our minds off of the everyday issues we deal with, from work to family, traffic to bad neighbors. There's a lot of stress out there and some in the medical community point to this stress as the root of a gamut of medical problems. And the cause can be those nagging little voices in the back of our heads letting us know if we get sick or hurt, we still have bills to pay.

Are you the breadwinner of the family? What would happen to your loved ones if you were to die too soon? Could your spouse and children stay in their home? What about debt? Who is going to pay those bills? Can the kids go to college? And what about those day-to-day expenditures, like when the refrigerator breaks down or you need a car in a pinch?

Sure, you could do something like a GoFundMe page, but why not avoid all of that by purchasing a life or disability insurance policy from now?  And with a pandemic all around us now is a great time to call us at Surf Financial Brokers and have a conversation.

We hear people always say that life is too short to suffer through all the aggravations and stress. Let us help you get a little more peace of mind with coverage that is affordable. And stay healthy!

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient

DIAM Is Here!

May has been designated as Disability Insurance Awareness Month, which is a great idea when you consider that Disability Insurance (DI) is one of the most undersold, yet necessary products offered. There are a lot of misconceptions about the product and how it works, along with some screwy ideas of when to get rid of it.

When I speak to a group on the topic of different types of insurance, I discuss the "Holy Trinity of Insurance" (covered in a previous post), which are life insurance, health insurance and DI. Oddly enough, some people insists that they can't afford it, but don't understand that it protects their greatest asset, their ability to earn a living. Being able to earn an income allows us to purchase the things we want, like a home or car. If we can't work, we still need to pay for things we need, like housing, groceries and utilities.

And yes, DI covers Covid-19, as long as you don't have it when you apply for a policy.

Check out the short video and let us know if we can help you preserve your greatest asset.




Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient

The H.U.G. Plan

Recently I wrote on the subject of Disability Income (DI) coverage and gave you all kinds of good reasons why you need the coverage. And we also discussed what DI covers, which of course is you most valuable asset -your ability to earn a living.

With all that we talked about, I failed to go over the most important part, which is how much you need. Most carriers will allow you to insure between 65-70% of your gross income as a maximum. But do you really need that much? There are some people out there who have high incomes but low bills. Or they may already have a passive income stream, like a rental property. In other words, you may be able to survive a few months on just 40% of your income.

That's where our H.U.G. plan comes in. We can estimate your most basic financial needs by totaling up your costs for housing, utilities and groceries. It's simple and takes a few minutes. 

And by figuring up a "good guess" of what your DI needs are, you can save money on your premium. In today's environment, saving a few dollars is a good thing, but having the coverage you need also gives you the peace of mind you want.

For a quick snapshot of how much a policy can cost, click on the "Get a Quote" button in the upper right of this page. Need to stay socially distant? We can discuss with you over the phone.


Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

Should You Buy From a Captive Agent or an Independent Agent? 2023

Did you know that there are different kinds of life and health agents? The differences lie in the type of company your agent represents and their pay structures, but these factors end up resulting in the type of insurance you buy, whether it's the best product for your needs or not.

Imagine a shoe store that only sells even number sizes. Unfortunately, you wear a size 9. The salesperson, who may or may not be honest, will try to tell you that they have something "close enough" for what you need. You try on the shoes and they are either too big or too small. The salesperson is limited in what he or she can sell, so they are going to try to get you to purchase what they have on hand.

In the insurance world, we have captive and independent agents. Captive agents typically are contracted to work with one company (unless that company has an agreement with another carrier) and are not allowed to shop around with other carriers. Typically, these are companies that carry your home and auto, but not always.

Why would an agent want to be captive? One reason is that you only need to learn one set of products, so you don't get spread too thin. Also, the company will normally provide supplies, office space and other perks, like training meetings and coaching. Sometimes they will even offer a salary or a draw for the first few months. This is great for a new agent trying to get their feet wet in the business. The downside is that the commissions are lower. A lot lower.

On the other hand, an independent agent works on their own, paying for their own overhead and making larger commissions. But the offerings to the client are much more expansive, as these agents can shop around literally hundreds of companies to find the "shoe" that fits the clients precise needs.

I knew a couple of agents years ago that ran a captive office. They loved to talk trash about whole life insurance, mainly because their company didn't carry it. I'm not a huge fan of whole life, but there are times when it fits the bill, so I make sure I have a couple of good carriers at my disposal when I need it. These two didn't have that luxury, as they only sold term and universal life. 

Don't get me wrong, some of my favorite people do well as captive agents. And when I show them what I can offer my clients they usually look surprised. Few of them offer indexed universal life, so when I explain to them how it works I get mixed reactions, from slight envy ("I wish we offered that") to outrage ("This is obviously a horrible product or we would sell it!").

An older agent once summed it up as follows. "Captive agents work for a company that can fire them. Independent agents work for the client and can fire the company if they don't treat the client well."

As you can see, we at Surf Financial Brokers are independent agents. We don't have a sales manager whispering in our ears about hitting sales quotas or any obligation to any of our carriers. Simply put,we enjoy having he resources to get the right size shoe on the foot in a comfortable and affordable way.

Stay healthy and let us know if you need anything.

Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.

Avoiding Long Term Care Facilities During the Virus Crisis

During the Coronavirus crisis in our country there have been countless stories in the news about infections running rampant in nursing homes and assisted living facilities. Our seniors are in the cross hairs of the virus as it works its way through these facilities, not just making the residents ill, but also the nurses and other staff members. As this happens, the family members of the residents are not able to visit their loved ones. It's a terribly tragic situation all around.

Is there a way to avoid this scenario? Not always, as some residents may need to be in a facility for various reasons. Their families may not live in the area, or they may have no family at all. Of course, nearly every person who lives in a facility would rather live in their own home, or with their adult children. For some, the adult children are working and unable to take care of their parents (or grandparents) and it can be cost prohibitive.

Home health care can be very expensive. Using the example of my father, the price of his home health care was nearly double that of a facility. The reason is simple, in that a small staff can keep an eye on dozens of people at once, whereas he had one caregiver staying with him. And home healthcare workers generally cook and do some "light housekeeping".

As I mentioned several weeks ago, my father was dipping into his home equity line to pay for his caregivers, which were in excess of $70,000 a year. He obviously didn't have that kind of money but was determined not to go to a nursing facility. When he passed away he was indebted to the tune of over $100,000.

I can only imagine how horrible it must feel to know that a loved one is in a facility during these times. But if you could keep your mother, father or grandparent at home with a caregiver, would you do it? What if you could find a way to afford it? What if the shoe were on the other foot and your family was having to decide what to do as you became chronically ill or mentally incapacitated?

Luckily, we now have something called Short Term Home Health Care (STHHC) policies that can alleviate the cost issues related to home care. Typically they cover the insured for 365 days for in-home care only. And the 365 days don't have to be consecutive, as some people receive care 3 or 4 days of the week.

It may not be the fully encompassing solution to keeping a loved one from a facility, but STHHC can save a family tens of thousands of dollars while preventing your older family members from getting sick and stuck in a nursing home or assisted living facility, which can be fatal during this pandemic.

And while a large majority of people who show an interest in the program are Medicare aged, we are also seeing interest from their adult children who have seen the costs associated with being ill or cognitively impaired.

To see a short video of how STHHC works, click here. This plan isn't available in all states, so let us know where you live and we'll check. In the meantime, stay healthy and check out our website below.


Chris Castanes is the president of Surf Financial Brokers, as well as a professional speaker helping sales people be more productive and efficient.