Being Prepared is NOT Bad Mojo.

In my work with clients, I am always asking questions about life insurance. It's a "thing" with me because it is the only sure thing we will all face at some point. Death is no respecter of persons. It doesn't care your race, age, or level of happiness. Death is a part of life (deep, huh?). In my discussions with people, I usually bring up children. Those that tell me they have children, I ask the question, "Do you have life insurance on your kids?" It seemed like an innocent enough question but as the time goes by I am finding many people get uncomfortable with the question. I've had clients tell me they wouldn't get life insurance on their children because it was as if they were hoping for them to die or wishing bad "mojo" on them. I've also had clients who felt it unnecessary because they (as parents) would be all their children needed to keep them safe. I never speak against people and their feelings or their reasoning behind making decisions like this with these as reasons, but I have also been face with some realities that makes the question even more important...no matter how uncomfortable it is for me to ask. I have three strong reasons for every parent (or person who knows people with children) to consider acquiring life insurance for children.

1 - No discounts at the funeral home. I have said in meetings before that there are no discounts for a smaller casket. It may sound cruel or too direct, but some of my clients and companies need a dose of reality as they feel "they got this". Funeral homes and certain states MAY have a set up to get financial assistance in certain cases. As a rule, the funeral for a child is expected to be paid for like any other funeral. Most people I know don't have thousands of dollars for a funeral just sitting around in a savings account. Funeral homes stay in business because it is just that...a business. The good news is, having a policy in place will make a horrible situation slightly better when it comes to making those final arrangements with the funeral home.

2 - It's the cheapest it will ever be. Life insurance is priced based on health, tobacco use, and mortality. Mortality is that table that tells us how close to death people are (on average). It makes sense that a child will be in premiere health and they are (on average) far away from that age of mortality. That means the risk of them dying soon is almost non-existent (according to the numbers) and life insurance companies will write that all day. Now, I don't think price should be a consideration when it comes to common sense, but we all have budgets and things to consider. The better news is that when they are at their young age, any kind of policy is available for a steal.

3 - Stuff happens. It's a safe bet that you could open a paper to the obituary section and find the announcement of a young child having passed away. It saddens us. It destroys a family. We read of stories of negligence, accidents, and unexpected situations that take a young life. The reality is that life happens. Death happens. Parents are very dutiful in protecting their families by getting life insurance for themselves if something unexpected happens. They owe it to themselves to do the same with a small policy to cover the "what if" that happens to children almost daily.

PERSONAL STORY: My dad did this for me. When I was 2 years old, my dad got a small whole life policy in my name with a face amount of $20,000.00. The following year, I was diagnosed with an incurable kidney disorder. In life insurance terms that means I am not insurable under most circumstances. He passed this policy on to me when I got married so I would have a base to start with to leave my new bride in the event something happened. I paid a whopping $10.00 a month for this policy while I held it. Since then, I have found other means for life insurance, but this was crucial for me. Thanks dad.

This post is not meant to be a downer. The goal is to be a call to all responsible adults who have children or grandchildren or friends with children. No one wants to think about the death of a child but it can happen. In most cases a policy that can cover children would be less than $20.00 a month. This amount would get more than enough to cover final expenses so the financial aspect of a devastating event like the loss of a child would be handled.

If you find yourself in the need to consider life insurance for those who count on you to provide them with their daily needs for survival (pssst, grandparents can do this too), call me (205-370-8453). Email me (gene@generamsay.com). Text me (205-370-8453). We'll talk options and pick what is right for you.

The Dangers Of Speaking For Yourself

It's never just about you

In my business of insurance and benefits, I come in contact with people every day. People ask me questions, I give them information, and then they usually make some level of decision as to what their next move will be.
Every now and then, I come across the person with no questions and a surly attitude about the entire insurance "scam" process by saying the six words destined to come back around and spank them firmly on the tookis..."IT WILL NEVER HAPPEN TO ME".
Just typing that hurts. However, in some cases they might be right (to a certain degree). I can't predict the future any more than they can, however, I know of people who have never spent a day in the hospital, have never been to see a doctor, never taken a medication, or had anything happen to them physically or mentally that they needed to be concerned with.
Should someone like that really see the need to insure themselves. I think so but I can see where they are coming from. Call it luck, good genes, or born under a favorable sign. Whatever it is, the "charmed ones" feel invincible and impervious to painful situations where they will ever need a shred of insurance. They even go so far as to be very cavalier with their aging process and inevitable death as they say, "WHAT DO I CARE...I'LL BE DEAD".
This is where I take my chance to speak up and remind people that it's not all about them.The discussion could go on for days with just a simple phrase of "But what if?" They can reply back and I'll reply with the same phrase until one of us just agrees to disagree and move on.
The harsh reality about insurance of all kinds is the fact that it really is not all about the person in the place of decision. In all insurance aspects, other people in the lives of the decision-makers come into play. Let's look at a few insurance pieces and I'll show you what I mean:

1 - Health insurance. This is the big one. Sure it's expensive, but so is health care. By saying no to health insurance you are telling all those around you that should something happen to you you are counting on them to help you pay the exorbitant hospital bill. By saying no to health insurance, you are telling all your future creditors that you don't care if you have to file for bankruptcy.

2 - Disability insurance. Disability insurance allows you to have an income while you are away from your job due to some illness or injury. Unless you are able to accumulate sick days or have a pretty big savings account (which is a form of insurance), a disability can ruin you...and those around you. Things happen every day that keep people from doing their jobs. Some of those things last a couple of days while others can last a year or more...or indefinitely. From the time it takes a working person to go from injured to getting any government assistance to gain income, it could be two years or more. What do you think happens in that time? Your stuff starts getting taken from you. So when things start to fall apart, where does the wise one now turn for help? That's right...others. Those people he didn't think about to begin with are now his lifeline to survival.

3 - Life insurance. I go over this one until I am blue in the face. While the insured doesn't care what happens to them when they die, others and the law do. The "hefty bag" answer is not an option. A "Weekend At Bernie's" comedy is not in the cards. Life insurance has never been about the insured. It's always been about who they leave behind when they die. Even for the single 20-something, life insurance says to their friends and family that they will financially take care of their final expenses and leave the money so that things may be done properly and in order.

As I type this, I am reminded of one word this all boils down to...RESPONSIBILITY.

My last statement is this: the next time you have a decision to make, ask if anyone else will directly or indirectly be effected by this decision at some point and how making the right one can make for a better situation for everyone involved.

It's never just about you.

Would you like to talk about insurance options for yourself? How about for others in your life who need to consider the options they have?

I try to be a phone call (205-370-8453) or an email (gene@generamsay.com)

Since I used RESPONSIBILITY (it's ok to admit that sometimes you just don't want it) as the key word in here, I thought a funny take on it would be in order:

I Am Not My Competitor

In my business of voluntary insurance, I am often asked, "Isn't what you do just like...?" or "That's the stuff I see on that commercial, right?" I have to admit that in the past I have said, "Yes, that's just like it only with a different logo attached to it." I did that for ease and so we could move past the whole quizzical look I sometimes get when I talk about voluntary insurance benefits.

However, I am done with that response. I am in no way affiliated with or like my competitor. That's one reason why we are competitors and I don't represent them. I either don't agree with their way of attracting customers and/or I am especially not fond of the way they talk to individual clients like they are stupid for not getting a certain insurance product they might be peddling today.

It is now time for to stop myself before I go off on a tear about how my competition stinks and I'm way better. That's no way to conduct myself or do business. I have been reminded for the past few weeks how my competition works and what they do. I have also thought about what they do well. Let me focus on a few of those things right here and now, just to be fair:

1 - My competition does a great job of advertising. In many ways they make my job easier because people know their name or company. I can use that information to let them know that I do it better and I won't be on their TV set every 10 minutes wasting their premium dollars on my advertising.

2 - My competition is all over the marketplace. I call on businesses all the time who tell me, "Thanks for your offer, but we have (fill in the blank)." I'm always OK with that because when I show someone I can do it better, at less expense, and with better benefits within the policies I offer I know I have their attention and my competition is being escorted out the door.

3 - My competition has agents busting out all over. While it may seem like a great thing for people to have jobs in this day and time, in this insurance business it means two things are about to happen: (1) you are about to get your door knocked on more than before (even if you already have the competition as a client) and (2) your current agent will be disappearing and will be replaced by someone new. I definitely won't be happy having to answer the phone from pushy cold call salespeople more. I don't know about you, but I'm not a big fan of changing who I do business with. Many times the like or dislike I have of a company is directly related to the person who I have dealt with in the past. When that changes, I may not be as happy as I was. Also, many issues that came up in the past rear their ugly heads again with a new person who does not understand the expectations that have been worked through.

4 - My competition does a great job of selling. Unfortunately for my competition, business is not about selling...it's about buying. I can walk into any of my competitor's client offices right now, take one look at their billing statement and tell you that the people at that business have been sold. Wrong policies, double policies, unnecessary policies run rampant on many bills I see and it's a dead ringer that whoever had been in there had someone believing that if they didn't buy this or that they were missing out. I don't sell. I offer and educate and let people buy what they feel they need and can afford.

5 - My competition has a great customer service department. In the business of insurance people need to know they are covered and that when they need help with a claim or an issue, they know who to call or contact. Many times the client contacts the person who sold them the policy expecting some help there when all they get is an 800 number and an extension for them to call. I am the face my clients know and I want to be there when they need me.

So, a word to my competitors: Keep doing what you're good at because you're keeping my phone ringing.

Are you in the insurance industry and trying to take care of your clients?

Do you want an option that will help you stop the competition from bugging your clients?

Do you own a business and have my competitor selling to your employees?

Are you tired of being put off to someone else to handle your service questions?

Would you like to work with an insurance professional that will be there for years to come?

If you answered YES to any of the questions above, I am a phone call (205-370-8453) or an email (gene@generamsay.com) away.

Are you ready?


Another tag line I have adopted over the years is "Step into my office, let's talk business." I am revealing the origin of that quote here.  I love it and you know what? It still applies.  Thanks Ray.

"What If" Insurance. It Could Save a Life

Many people I talk to about voluntary insurance say they are not impressed with some of the offerings.  Many times I even tend to agree.  The reason being that I am a big proponent of the hierarchy of need concept for most working Americans.
The first and most important benefit any working American needs is health insurance.  More bankruptcies are filed each year because of the unforeseen emergency hospital stay, surgeries, etc.  The whole reason for health insurance is to be sure the hospitals and doctors get paid to make you all better.  You never know when a catastrophic accident or illness will strike.  In many ways, health insurance is the biggest "what if" in the insurance market.  But this is not the kind of insurance I am talking about here.
The next most needed insurance I would say is a toss up.  I can make a good argument for either disability or life insurance to land in the number two spot.  For this article I will choose disability insurance as my next to discuss. This is the sort of thing that replaces your income if something should happen to you away from your job that would summarily keep you from coming in and doing your job.  One question I always ask is, "How long could you go without a paycheck"?  The majority of people usually answer, "Until my next paycheck".  Disability insurance could be the difference in someone losing their home or not due to an unforeseen illness or injury who needs income to keep the bills paid until they get on their feet again and can work.  This is the next most needed bit of "what if" insurance.  But I'm not talking about this either.
Next in line would be life insurance.  This is the ONLY insurance ever guaranteed to pay anyone a dime.  It's necessary, if for nothing else, for final expenses and/or burials.  This is not a "what if" in any book.  It's a necessary part of our lives.  We need to be responsible to take care of the inevitable "final day".

After all these needs get met, THEN we get into those insurance products that many professionals feel are "unnecessary" or are fluff in someone's insurance portfolio.  The insurance I want to focus on here is another "what if" piece of insurance.  The insurance I want to make an argument for is accident insurance.
Just like it's name sounds, this is a product that covers you in the event you have a "what if" moment in the area of an accident.  It works hand in hand with both of the above other pieces of needed "what if" insurance in that it can help pay a lump sum benefit based on the severity of any accident and it can also be used to handle co-pays and deductibles you will surely have with an ambulance ride and/or an emergency room visit.
True story:  A few years ago we are sitting and discussing insurance offerings as a place of business.  We had been sitting with each employee all day and were winding down.  One gentleman sat with a benefits counselor and got the same information on life insurance, disability coverage and the like.  At ever turn we were met with opposition and the unnecessary need for these insurance products.  As we were wrapping up, the client wanted to look at the accident insurance one more time because he rode a motorcycle to and from work and he knew the dangers he might run into.  Six weeks later, the "what if" hit home as he had a near fatal motorcycle accident on his way home from work.  The accident put him in an ambulance, the emergency room, in surgery for almost every bone in his body, and a hospital room.  This man dies after a 30 day stay in the hospital as his body just could not heal.  The accident policy paid a claim to his wife and four children in excess of $50,000.00.  Since they had health insurance, that coverage helped.  But because he refused all manner of discussions about life insurance, this piece of "what if" insurance saved his wife and children from a financial nightmare on top of the emotional devastation of a "what if".
So, the next time you think there might be an insurance hole to fill based on your way of life or just for piece of mind...think about "what if" and then make the call.

Something funny for you...

If the Situation Was Critical - How Would You Cope?

I love stories that help me help people make informed decisions about insurance and why it's important.  Unfortunately, most of those stories are the bad news stories of people in their time of need.  I met a woman today who relayed her story to me about a critical illness that occurred to her not two years ago.
One of the products that has always kind of baffled me in terms of need has been a critical illness insurance plan. Most of the time, these plans pay a lump sum benefit if you should be diagnosed with having had a heart attack, stroke, renal failure, blindness, paralysis, etc.  All that is well and good, but the question I always has was how would this money they receive (sometimes in upwards of $50K) help?  Today I found that out.
As this very nice woman told me her tale of illness, the first thing that struck me was that once she was diagnosed with having had a heart attack, her doctor recommended she take a year off of work to get better and hopefully heal.  A YEAR?  Exactly how did this doctor think someone who was working full time go into a year long state of disability with no income?  That's not really the doctor's issue now, is it?  Fortunately she had a working spouse who was paid well enough that the bills could be met and she could take her needed time of rest.  Fortunately she did heal.  Today she can have all the EKG tests she wants and there seems to be no signs of ever having had an issue.  That's great for her, but what about the other people this could happen to?
The reality is most lengthy health issues happen just like this.  Unfortunately, most people can't just take time off like this woman was able to do.  They have to do something or risk the stress of going bankrupt or losing all they have.  THAT is why critical illness insurance is there.  If this lady was not in the minority, she would have needed money and she would have needed enough to at least get her through a year.  How far would $50K go for keeping your bills paid for a year?  I think I'd be OK in that situation and one thing I would not be stressing over is money.
So, the next time someone talks to you about critical illness insurance, remember this story and ask yourself how long you think you could go without income if the doctor told you you needed to take a year off to get better.