Expanding Our Social Media Footprint

With the pandemic upon us businesses have had to find new ways to market themselves. Our agency, Surf Financial Brokers, is no different. Social media and a web presence are one of the many ways we are trying to get the word out about the products we sell and the services we provide. 

Actually, we were already changing the way we were marketing pre-Covid. The traditional way of selling insurance, by asking for referrals and mingling at networking events, was still working for us, but only in a limited capacity. And to be honest, agents can get burnt out quickly that way. My agents and I had some conversations as to what changes we could make to expand our messaging. We also asked for feedback from our clients.  

Social media can be a rabbit hole for a growing insurance agency like ours. It can be very easy to get caught up in all of the differing platforms out there, and the last thing we wanted is to take away time and resources from our clients. "Sorry, I'm not able to help you with a death claim because I'm busy posting silly memes." Absolutely not! We needed a plan.

Facebook, which has become a juggernaut of social media, took on a larger role. The logic behind this was that our agents were already active on the platform. There wasn't much of a learning curve because we already had a good amount of clients there already. 

LinkedIn was a no-brainer as well. As a great platform for networking and connecting with other professionals, it made sense to take some time to learn how to maximize it to our advantage. I've always managed to find good prospects on LinkedIn, as well as new sources of information. 

Realistically, our agents agreed that Twitter was fine to post short messages to, but the expectations were low. Our thoughts were pretty accurate, as nothing much has happened from our Twitter feed, but we really haven't put much effort into it either. 

You see, aside from this blog, we have managed to keep our time marketing on social media to under an hour each day, and typically it is more like 30 minutes. And that time is spent during early mornings or late evenings when clients don't expect us to be available.

 

Surf Financial Brokers unknowingly was preparing for social distancing before it was necessary. We were adding features like Calendly to our website, and transitioning to "phone appointments" months ahead of everyone else. When the Coronavirus became an issue, we already had most of the tools in place and just needed to step on the gas. 

With the addition of a new products like Short Term Home Health Care and our new accident insurance plan, we have also tried to make it easier for our clients by using web-based applications. This avoids us having to physically come into your home or work and filling out forms. Just as your pizza is delivered in a "contactless" manner, so can the way you protect your family's financial security. 

In recent days we have managed to dip our toe into another pool of social media, Instagram. Through discussions with some of our clients, we found out that not everyone reads blogs, even the interesting blogs like this one. A few clients said that they enjoyed reading short articles on life insurance, long term care plans and disability insurance, but they also liked the occasional short video too. The plan is to post short (less than a minute) videos on Instagram to cover various topics. 

If you are already following Surf Financial Brokers on Facebook, LinkedIn, Twitter or another platform, we thank you for your support. We hope you follow us on Instagram @SurfFinancialBrokers for some different content and information. 

We look forward to helping you and answering your questions. And as always, please 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. And please subscribe to this blog!

Planning For Your Retirement

According to an EBRI (Employee Benefits Research Institute) survey conducted in 2015, 66% of workers had saved less than $50,000 for their retirement. And 28%  had saved less than $1,000. The numbers slowly got better over the years, mostly because employment increased. As a result employer sponsored retirement savings plans helped, as they were the most effective way for people to save. 

And then the pandemic hit us. For the millions who have lost their jobs, retirement has been put on the back burner as trying to survive financially day-to-day and keeping one's head above water has become the priority.

Again, we are definitely headed into a retirement crisis. After the market drop of 2008, many people cashed out part or all of their retirement plans to pay their bills.  Scared of another market drop, many took their money out of stocks and moved to low-interest yielding investments in an effort to preserve their capital. 

The difference now is that the market is doing well while the rest of the economy is hurting. Companies have learned that they can keep productivity up with less employees, thus increasing profits. Those profits are reflected in the growth of the stock market, but not everyone is enjoying these gains.  

And yes, real estate has done well. Interest rates are still incredibly low, attracting buyers, but who is selling? Perhaps it is those who can no longer afford to be in their home due to a loss of income. The world has become very confusing. And it can still be confusing for those who are trying to plan a retirement. 

There are a few things to remember when planning for retirement.  

First, safety costs money.  If you put your money in an annuity with "guarantees", you'll pay in fees or additional charges.  (And yes, regardless of what your agent sales, there are fees in an indexed annuity). See my previous post on the free dinner at the steak house.

CD's at the bank can cost you in this low interest rate environment by way of inflation eating away at your money.  Your principal can lose value by inflation outpacing your growth. Do a little homework and find out what the current inflation rate is. Currently it's around 1.3%, which is very low, but it can change quickly if oil prices spike or another global crisis, like a war, should happen.

Also, when planning for retirement, a holistic approach is best.  The commercials for "orange money" or a big wood carved number people walk around with is great, but what does it really mean?  Trips, vacations, seeing the grandkids?  

I have mentioned that the three phases of retirement are the "Go go years, the slow go years and the no go years". Everyone plans to be active and have fun once they retire but the hard truth is that you may spend most of your retirement sick or homebound. You should also figure in medical costs associated with aging.  Long term care insurance (or something akin to it) are a must, especially if you have assets you want to pass on.

Estate planning has been replaced with "legacy planning" in some circles.  Legacy planning is a broader term and takes the concept of estate planning one step further, letting you incorporate your morals, beliefs and ideals into your estate plan, and by allowing you to "make a difference" with gifts you leave to charities and loved ones. Retirement planning goes hand in hand with estate planning.

 

But back to our retirement crisis.  Most people clearly don't have enough money socked away.  The government isn't in a position to take care of us.  As life expectancy increases, that doesn't necessarily mean you will live longer and enjoy it. As we say to our clients, just because you may live longer it doesn't mean you'll live better. Quality isn't the same and quantity in this case.  

The bottom line is that is doesn't have to be all gloom and doom. If you are in a position to contribute something each month, even if it's just a few dollars, to your retirement plan, do so. Mix it up as much as possible by diversifying your portfolio. Consider both putting money into your savings while protecting your assets with a long term care policy, which is a great way to play offense and defense at the same time. 

Have questions or comments, put them in the comments section below. And in the meantime, 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. And please subscribe to this blog!

The Courageous Conversation About Life Insurance

Last week I had lunch with an old friend who also happens to be a client of  mine. He has been very successful working in the computer industry for about 20 years but is starting to get restless. Apparently his work has become, in his opinion, very boring. I asked him to tell me what he liked and didn't like about the work. "I do the work, I get paid, and then I have to put in a bid again to do the work again," he said. 

He began to "pull back the curtain" about his job and tell more details about who his clients were, how he acquired them and what he was paid for his time. Then he threw me for a loop and said, "So give me some of the secrets of your work."

Actually, there are not a lot of secrets. I try to keep everything as transparent as possible. My friend did not looked convinced. He said, "Do you use a bunch of high pressure sales techniques?" 

"All the time but apparently they are too subtle for people to pick up on," I said, laughing at the absurdity of it all. There was a time when life insurance agents had a reputation for being "high pressure". My first job in the business, selling accident plans door-to-door, was like that. We were trained to be like attack dogs, not to take "no" for an answer. If someone gave us an objection we had a binder full of memorized rebuttals throw back at them. 

As I have mentioned in an earlier post, I have replaced high pressure sales with "good pressure" sales. That means that I want to do what is right for a client, but sometimes, the client doesn't understand what is in their best interest. 

For example, let's say I am in the home of a young couple who has a couple of kids and a mortgage. One spouse may insist that they only need $100,000 of coverage but I think they definitely need more. That $100,000 won't cover the balance of the mortgage, much less cover other things, like funeral costs, replacing income and paying off cars and credit card debt. My job is to make those items part of the discussion. 

The reasons why the client is resistant to increase the amount can vary, but it usually comes down to cost. That's when I realize I have not done my job correctly because I haven't explained the value of my product in a way that this client can appreciate. 

"So if your spouse is stuck with less money than they need to keep the family in their home they love, has to take a second job, and has to go into debt to bury you, is that something you're okay with?" I ask, making sure the spouse is present. Is that "high pressure"? I don't think so. It's a reality check. In the business we call that a "courageous conversation" because most people don't know, or want to know, what really is going to happen when they die. 

As a professional insurance agent, I have to help them face the reality of the situation. There is no yelling or subliminal messages going on. My intentions are good in that I want this family to feel secure. I realize they may have a budget, and I can work with that. "Let's put it like this. If you purchase this coverage and died next week, your spouse will come to me and ask me, 'Will my family be okay?' What do you want me to tell them?" 

That's what my job is all about.

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

Stay Healthy and You Can Save Money

This weekend I went to a grocery store that is a part of a large chain based in the southeast. They have a pharmacy that offers flu shots, which I get each year to ward off the winter's ailments. Even though many of my friends have said that it the vaccination doesn't work for them, for me it is a lifesaver. 

In the past I would get sick with a head cold at least three times each winter, with an additional case of the flu thrown in for good measure. However, since I began getting the flu shot about five years ago, I might have one good cold each year. This let's me work more, stay more active and overall feel better. As they say, an ounce of prevention...

One of the nice perks about getting my flu shot at this store is that they give me a gift card for $10 after my injection, which I promptly redeem for a lovely cheesecake. It has become a bit of a joke in our home when I walk in with the delicious dessert in my hand and a band-aid on my arm. "Ah, Chris got his flu shot again!" is the refrain as the family looks for forks and plates.

But the flu shot is a small part of a bigger picture. I'm not the healthiest person in the world, but I do the best I can by trying to eat right, exercise (mostly yard work, which works up a good sweat) and stay off of the carbonated sodas. All of this is done with intention from a lesson learned years ago. 

As an insurance agent, I also understand the value of the product I sell and know the price is better for people who are healthy. Realizing that I needed enough coverage to pay off my mortgage and some debt if I were to die unexpectedly, I applied for a life insurance policy. I also realized that I would need a paramed exam involving blood, urine and testing for height and weight. 

This was about the time that the low-carbohydrate diets were getting popular so I replaced my usual potato chips with pork rinds, thinking I had beaten the system. Boy was I wrong!

After the nurse did her job I found out that instead of my monthly premium going down, it went up by roughly $10 a month. Apparently my cholesterol was very high, and those stupid pork rinds were more than likely the culprit. 

I kept that policy for a year, then I reapplied with another company, this time eating a lot of salads. Why hadn't I thought of that the first time? I dropped some much needed pounds, got my insurance premium back to a reasonable price and I had a newfound respect for salads, which I still enjoy to this day.  

Odds are that you are not going to get much healthier than you are right now. Personally speaking, I have had my share of health problems in the last five years. Hypertension, stomach problems and borderline diabetes suddenly and unexpectedly became issues for me. I'm on medications to keep my numbers under control, but I could just as easily have had a heart attack, stroke or worse. 

What are you waiting for? Protecting your family's future should be a priority for you. Stay as healthy as you possibly can and get that coverage as soon as possible. 

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

Do I Need A Cancer, Heart Attack and Stroke Plan?

We all know someone who has had cancer, heart attack or stroke. And we all are aware that with any of these significant and serious health issues there can be a lot of bills that your major medical insurance  will not pay. Deductibles and other out-of-pocket expenses will deplete your savings and can devastate your family financially.

Medical issues are one of the main reasons for bankruptcies in this country. Not only will cancer or a heart attack run up medical bills, but it also can keep you from work. As I have stated on many occasions, your number one asset isn't your home, car or investments, but your ability to earn a living. With a major loss of income comes more stress on you and your family. 

I shared the story in a recent post of a single father who had to take time off from work when his son was receiving cancer treatments. They were literally days away from having the power cut off from their home when they remembered they had a cancer plan, which helped out tremendously. 

Take a look at this short video and see how it works. 

Many companies offer good cancer plans, and many companies offer good plans that help for heart attacks and strokes, but not many let you combine them both. With our plan, you can choose either a plan for cancer or heart and stroke, or you can have both at once. That's flexibility that helps you.

And these plans don't pay the doctor or the hospital, but instead pay you directly. You can choose a lump sum benefit up to $75,000 that you can use at your discretion, whether to pay for your out-of-pocket bills or just your regular monthly bills due to your loss of income. 

These plans also come with a wide variety of optional riders as well. The cancer recurrence rider and building benefit riders are a valuable tool in making sure that your plan keeps up to date with the unknown down the road. You can even add a cancer rider for your children.

All of these features are available for heart attacks and strokes too. You can add these riders if you are concerned about recurring heart attacks and strokes, as well as coverage for your kids. 

But these plans also have some additional features that you probably wouldn't expect, like additional benefits for intensive care, and critical accidents. There is even an optional rider for dental and vision benefits. That's a lot for one affordable plan!

But what if you never use the plan after paying into for years? There's even an option for a return of premium rider which will refund your premiums, minus any claims paid. 

And we make it very easy for you to apply for this great coverage. You can pick out a time from our calendar to have us call you on the telephone. No need to worry about a salesperson coming to your home.  The application process is easy and with just a few questions. 

Don't become a statistic by letting a major illness ruin your family's finances. By making sure you have the right kind of coverage for serious health events like cancer, heart attacks and stroke, you will have the peace of mind knowing that your loved ones can feel secure while you (or another family member) is receiving treatments. And that is what insurance is all about. 

Not all plans are available in all states. We can let you know what is available in your area.

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

Why I Really Need Life Insurance (Powerful Video)

If you are like most people you are inundated with information all day long. Commercials on television, radio and social media are everywhere for every kind of product. From the ubiquitous car insurance commercials with lizards to mobile phone companies, it seems that every company out there is doing their best to drown the others out.

There was an insurance company commercial in the late 1990's where the man was walking down the beach with a little boy. It was very sappy and ended with the man saying, "Did I mention he has his mother's eyes?" Not many people remember it, which is why that company changed gears altogether and decided to take their advertising campaign in a whole new direction, resulting in the Aflac duck. 

The problem with life insurance advertising is that it really isn't very good at explaining why people need it. A giant whale jumping out of the ocean doesn't motivate people to protect their family any more than a business card.  

In my personal experience I have noticed that people will make that insurance purchase when they see something happen to other people they know. Personal stories from their friends and family will move the needle. 

An example of this is long term care insurance. It seems that no one wants it until they have a sudden onset of health issues, like a stroke or cancer, or they see Grandma go into the nursing home and realize how much it costs. I have had many calls over the years because of the latter situation, by the way.

And it is the same with life insurance. People will call me after they find learn that someone they knew has passed away without any coverage and see the devastating effects it has on the family. GoFundMe pages and potluck dinners will only go so far. Having a young widow ask me "Will I be okay?" and knowing that her spouse wouldn't buy a policy is a punch in the gut for me. I feel like I didn't do my job somehow, even though I tried and tried. 

If you don't think you need life insurance, please watch the video below. 

As you can see, we don't buy life insurance for ourselves, but rather for our loved ones. Many of my clients say, "I don't want anyone getting rich off of my death." That's fine, but making sure your family can maintain their current lifestyle if you die will take some money that you probably don't have.

When I sit down with a client to discuss life insurance I ask a lot of questions, especially about finances. It can be uncomfortable sometimes but we discuss items like:

• Debt. Credit cards, mortgage, car loans, etc. can be paid off with life insurance proceeds. Why would you leave your family with a bunch of bills?
• Income. It doesn't matter if you are the main breadwinner or working a part-time job, you still contribute and that loss of income will need to be replaced. 
• Education needs. Do you want your kids to go to college or technical school? Wouldn't you like them to concentrate on their studies instead of worrying about student debt?
• Final expenses. Yes, this is your funeral costs, but should also include the costs "associated with death". Odds are you may be in the hospital for a few days before you die, and of course, that won't be cheap either. 

Give us a call or schedule a phone appointment with us from our site. We're here to help you protect what is most important in your life. 

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

Is The New Normal Is Here Yet?

Things have changed quite a bit in the last few months. Businesses, restaurants, theaters and malls have shuttered their doors. The ones that managed to keep afloat have reopened slowly. Sports organizations, from high school to professional levels, have had to move their schedules around with players catching the Coronavirus. If it wasn't for The Tennis Channel I would be out of my mind, as they managed to show a lot of smaller tournaments during the summer months to keep me occupied.

With all of this in mind, I went out to my mailbox this week to hear the familiar sound of a schoolbus. As it came down the street I was struck by the fact that I had not seen one in nearly six months. And as the kids are on a "hybrid" schedule, it was good to know that maybe things are slowly getting back to normal. 

Personally, I don't think we will be getting back to a real "normal" until next spring. But even then there will be a lot of changes. Of all of these changes, one will be how we do business in the insurance world. 

Like most life insurance agents, I have had to do more remote work. Actually, we had a lot of the systems in place already. Web based applications were being offered by nearly all of the insurance companies. Using an online calendar that my prospects and clients could use to book their own appointments was also around, and we had taken a serious look at using it. Covid just sped up our decision to implement it. 

Another change was the addition of some products to our menu. Sure, we always had access to policies like Hospital Indemnity and Cancer plans, but most were on a payroll deduction basis. Now we could offer versions that were "stand alone" plans, again with applications that could be taken right over the phone.

By using one of our carriers quoting engine for life and disability insurance (in the upper right of this page), readers of this blog could get a ballpark price of what a policy may cost. This saves you time, and with the "How much protection might I need" link, you can calculate the amount of coverage would actually protect your family instead of just guessing.

 Another change that was taking place pre-pandemic but has really gotten more attention in recent months has been the paramed requirements for life insurance applications. Having a nurse come to your work or office to get your vitals, along with some bodily fluids in some cases, has never been on anyone's wish list. The people who are taking the self-isolation more seriously than others don't necessarily want a stranger in their home, especially one who had been in the homes of other people recently. 

These paramed nurses, in my opinion, have always been very professional and take every precaution to protect themselves and their clients. But like I said, things have changed dramatically for them too. Some of the insurance carriers have changed their own underwriting rules. For instance, you can apply for a policy with one of our life insurance companies for up to $250,000 with no exam. The result has put several paramed exam companies out of business for good. 

There have been many changes recently, but rest assured that when we do settle in on a "new normal" we'll be here for you and your family. In the meantime, give us a call and let us help you now. And please 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. And please subscribe to this blog!