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.  

Things You Probably Didn't Know About LIfe Insurance

Most of us know the basics when it comes to life insurance. We know, for example, that you pay a premium, and when you die, the insurance company pays your beneficiary. That's about as basic as it gets. But there is a lot of other information you can use when deciding how much you need, what fits into your budget and other considerations. 

Did you know that, according to Policy Genius, only 54% of adults even have life insurance? And 27% only have group coverage through their work, and sometimes that isn't portable, which means you can't take it with you if you leave your job. Generally, we as a society, just don't have enough life insurance. 

I met a nice lady recently who became a widow unexpectedly a year ago. Her husband was killed in an accident and she was left with three kids, his car payment, a mortgage and no life insurance to help pay for the funeral, much less the other bills . Luckily for her, she has a job that helps her "manage", but it's clearly not enough. Now she is considering getting a policy on herself because she understands how much of her stress could have been avoided.

One of the most prolific sales people in the history of the life insurance industry was Ben Feldman. When asked how he was able to sell so much of an intangible product he responded, "I do not sell life insurance. I sell money." When you think about it, that is exactly what life insurance is. You are buying money for the future, not for yourself, but for your loved ones at the time when they need it most.

Mr. Feldman was the epitome of a salesman who could find a great way to describe his product. While everyone else was talking about the features of life insurance, he was telling his prospective clients about the benefits. Like they say, "sell the sizzle, not the steak". 

But people still are put off at the prospect of buying an intangible product they can't use. Or can they?

If you have read some of my recent blog posts, you will remember that life insurance can be used for several things while you are still living. We offer policies that can be used for expenses associated with being chronically ill, for critical illnesses like heart attacks and strokes, or for a retirement supplement. You can even use the money for helping fund your child's higher education costs. 

Products have evolved since the days of Ben Feldman and keeping up with many of the changes and new policy features can be too much for the average person who just wants to make sure their family can stay in their home if they die too soon. That's where my job is important. I rely on my carriers to keep me up to date on changes and new lines that may be a great fit for a client. 

Another great resource we use is our network of agents. Like medicine, one can "specialize" in a certain type of insurance, and we use that to our advantage. If I have a client who needs information on a policy that has been offered through their work, and I'm not familiar with it, I can pick up the phone and ask someone who may have the information I need. That gives Surf Financial a strong advantage when it comes to how we can help a client. 

Let us help you keep your family financially secure, 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.