Archive

Archive for July, 2019

The Life Insurance Benefits of Quitting Smoking

July 24th, 2019 No comments

Kicking the habit can save clients a bundle.

I recently wrote about improving return in a life insurance policy through better underwriting.  No sooner had I done so than two cases came across my desk regarding the same issue that illustrated just how dramatically meaningful this can be.

Client Quits Smoking

A few years ago, I helped a neighbor with life insurance on himself and his wife. His wife’s policy was a straight forward $1 million 10-year term. She was healthy but a smoker so she got preferred smoker status.  The premium was $3,000. For full post, click here…

Categories: Life Insurance Tags:

Internal Rate of Return on Underwriting

July 16th, 2019 No comments

Pay attention to where it counts

It’s interesting to see where people put effort and concern and where they don’t.  Parents might go to extreme lengths to keep a child safe and healthy by purchasing the best reviewed products and most healthy food and participating in developmental activities.  However, without even thinking about it, they’ll then put that kid in a car to run to the store, and that’s the most endangering thing a parent could do to a kid according to the Center for Disease Control and the World Health Organization.  But do any of us use that as a reason to not visit grandma?

No.  We use modern car seats and seatbelts and review crash test data and hopefully don’t text and drive.  We do what’s needed to improve the chances of a positive outcome.  In reality, we’re simply not lending credence to those things we’re very comfortable with and that don’t make us stop and think.  Sometimes worse, we make decisions based on unsubstantiated rationale.  After all, we’re victims of emotion at times.  The same emotion that makes us go to some ridiculous length to prevent something from happening that, in all likelihood, is never going to happen is the same emotion that may drive someone to buy a tiny, gas efficient car to save the planet when the full size SUV is going to protect your kid far better. For full post, click here…

Categories: Life Insurance Tags: