It was hard to put this topic out there. What would you think of me?
If someone wrote a book called “Insurance for Dummies”, you’d laugh, and if you wanted to really find out how to look at insurance, you might even buy the book.
Part of my website includes an ability to see what keywords folks use to find the insurance issue they are looking for.
Nobody is a dummy! But, if I were looking for something in your field of study then you might know right off the bat that I didn’t have a good grip on the issues, or what I really should be looking for. Right?
Same for insurance. And, the industry is ripe for agents and companies to separate you from your money with piecemeal products that don’t have a rhyme nor reason to really exist.
These products have really high relative premium to what they might, if ever, actually return.
Shame on the insurance industry!
Insurance plans separating you from money or guaranteeing it? Which is it in your case?
Are your insurance plans separating you from your money or guaranteeing it? Which is it in your case?
Look at the credit card companies asking you to take out the disability insurance.
You might tell me you have disability coverage, and we look at it, and yep, if you are disabled, the credit card company pays the minimum monthly payment on your card. Whoopee!! What’s that worth $50 or less? Wow, thanks guys!
And they feed you the “if you don’t have a balance you don’t pay”. Thanks again! Imagine how happy that should make you.
And have you ever over sighted some insurance plan like this and tried to appeal to have the premium returned? Not so easy is it?
Right. The card company will blame the insurer and say they cannot control the insurers policies. Well, who was it that sold me that turkey in the first place?
Live and learn, or do we?
The problem is it is an insignificant issue. The premium though can be significant.
It is not uncommon for families to have a whole bunch of insurance charges for insignificant coverages, and have no basic idea of the important issues like how much will I get in income replacement if I am disabled? How long will it pay? How will it refuse to pay? Will it be enough to keep us in our home?
You know, the big questions.
But, we rarely get that call at 6 PM as we prepare to eat our dinner do we?
No, we get the “Hello, it’s so and so company….thank you for your loyalty…and because you are a good customer, you have an opportunity to take blah, blah, blah for only $8 per month? Would you like some of that?”
Ouch!!!
Would you want your healthcare to be handled that way?
“Hello, this is a medical clinic calling. We would like to offer to remove your appendix because it may need to be one day, so why wait?”
Doesn’t work does it?
Go to the doctor and monitor your health, and if there are issues creeping up work on a plan with your doctor, right?
Well, with insurance, income replacement in the event of death or disability is the goal. And not $13 minimum card balance payments either – really important income replacement or debt payments like the mortgage and property taxes.
We can do that for you. But we won’t do anything until we look at what it is you might have, and what you need to supplement what’s already in place.
And by the way, you’d be no dummy to want that!
There is ‘No book required!‘
Do me a favor though…. don’t answer your phone at dinner time again! They probably just want to make a meaningless sale.