Do You Have the Face For Life Insurance?

Once again a new technology is changing how we can expedite life insurance sales.  According to NerdWallet, Lapetus Solutions has developed new facial analytic technology which can determine how long someone is expected to live.

The new technology, called Chronos, could help people get a policy approved in as little as 10 minutes, thus avoiding a medical exam. 

Many companies are easing away from full medical exams for lower face amounts of coverage.  A few of the companies we represent at Surf Financial Brokers offer term life coverage with no exam if the policy amount is under $250,000, and more carriers are heading in that direction.  But with this new technology, life insurance policies should get issued quicker and more efficiently.  Let's hope it works!

Great News For Business Owners Who Offer (Or Would Like To) Benefits

Part of our work at Surf Financial Brokers is helping businesses who wish to offer benefits to their employees.  Through our network of agents, we help with dental, vision, disability,  and life insurance, as well as cancer and critical illness plans, to name a few.

For the most part, the employees pay for these plans by having the premiums deducted directly from their paychecks by their employer.  There are those occasions, though, when the employer doesn't want to deal with this process.  We now have a way to deal with this situation.

We can offer the same benefits to employees on a non-payroll deduction platform, and at the same group rates!  The employee can pay for the policies with a debit card or have the premium drafted directly from their bank account on a monthly basis.  This keeps the employer from having to deal with billing while still allowing the staff to enjoy the same peace of mind that these policies offer.

And we can even set up a call center for the employees to use to enroll in these great benefits.  For more information, give us a call or contact us through our website.

Life Insurance Check Up

Have you had an annual life insurance check up?  It only takes a few minutes and could save your loved one a lot of pain down the road.

First, make sure you have enough life coverage.  The easy way to do this is with our calculator.  Plug in some numbers and get a total value.  Make sure you have enough coverage to pay off debt, cover education costs for your kids, replace income and costs associated with death, such as an extended hospital stay.  Don't forget to include final expenses, like burial or cremation fees, funeral expenses etc.

Second, make sure your beneficiaries are who you want.  An irresponsible adult child or a deceased loved one may not be as suitable as you thought originally.  Have your agent get you the correct forms for beneficiary changes.

Which leads us to the last part of the check up.  Let your family know who to contact if they need help at your death.  Life insurance agents come and go.  The trusted agent you purchased your plan from may or may not still be in the business.  If not, contact the company and request a new agent of record to help you.  Leave this information available for your loved ones so they don't have to waste time and money to file your claim.

If you need help with any of these, let us know.
Surf Financial Brokers

So What's The Big News?

We've hinted for a while that we had a big announcement coming and now is a great time to share it.  Starting this month, we will be once again offering Medicare Supplements.

If you or someone you know is about to turn 65, please contact us or pass our information along.  We have partnered with a large organization with many years of experience in the Medicare Supplement  market.  Surf Financial Brokers looks forward to working with you and your friends and family.

Upside Growth, Downside Protection

If you've read my blog in the past, you know I think life insurance is a great way to get a "tax-free" retirement.  The easiest and most effective way to do this is through an Indexed Universal Life policy (IUL).  This policy builds its cash value by using an index, which yields returns that mirror the market, without having the actual risk of investing.

Without getting into the weeds, you can overfund a policy, which means that you put more into the policy than the required premium.  The IRS, knowing that the cash value in a policy is tax-deferred, limits the amount you can pay over the premium.  Otherwise, your policy becomes a Modified Endowment Contract (MEC), which is subject to taxes, and no one wants that.

Most policies have a floor, or minimum, which is usually around zero.  In other words, the markets goes negative, you lose nothing.  However, there's also a cap, which can be anywhere between 10-15%, depending on the policy.  So, as the market goes up, so does your growth, but to a limit.

In essence, you have life insurance with potential for growth in the good times, no losses in the bad times, and it's all tax-deferred.  But wait, there's more!

When you're ready to retire, you can pull that money out of the policy as a loan, thus avoiding taxes altogether.  Tax-free retirement.

For more details, give us a call or look us up at our website.

The Doctor Who Doesn't Listen To The Patient

Imagine for a minute if you went to the doctor and all he talked about was a new wonder drug that was awesome and could treat a serious condition.  The only problem is that you don't have that condition.  At first you are polite because the doctor is very enthused about this new drug, but soon you become irritated because you need help with something else.

We in the insurance industry can become guilty of the same thing as this doctor.  We find a product, for instance a disability policy, and start investing our time (as well as the client's) into that product, instead of listening to the client and finding out what they really need.  In the end, the client isn't happy and the agent doesn't make the sale.

Look us up at Surf Financial Brokers and let us hear what you need to discuss.  Life insurance, retirement planning, long term care or disability insurance.  We want to listen to you.  

Dental, Vision and Hearing - All In One Plan!

In the past, we at Surf Financial have offered our clients dental and vision plans, but only on a group basis.  If someone wanted an individual dental and/vision plan, we just didn't have a plan to offer because we just didn't like what we were seeing in the marketplace.

Fortunately, we have found a plan for our South Carolina clients that offers dental, hearing and vision all in one plan.  And the best part is that there is no network.  In other words, you can use whichever provider you want.

And even better is that the plan is affordable.  And these plans* start as low as $25/month!  Coverage is available for yourself or your entire family.

For a quote give us a call at 843-283-3300 or contact us on the web at SurfFinancialBrokers.com

*For information regarding waiting periods, exclusions and limitations, give us a call.