Bnice's Insurance Corner

How Much Life Insurance is Enough?

noreply@blogger.com (Brandon) — Tue, 3 Apr 2012 13:25:00 -0400

Just another infographic concerning the amount of Life Insurance needed. Just curious how much do you have? Why?

Growing Family

noreply@blogger.com (Brandon) — Fri, 10 Feb 2012 13:08:00 -0500

This may be the last post for a while. You see, my lovely wife is about to give birth to our second daughter. Her name will be Hannah Faith. The hurdles of pregnancy and pains of it all are building up as we head down the home stretch. I can't wait.

This whole past year has been unreal. The business has done very well, and I am looking on to this year intently. I think that as well as I did last year, this year can be spectacular. Though for whatever reason, it starts slow. Last year seemed kinda dead too after the holidays. My overall goal this year is focusing on my business insurance production. I commend my individual and family side of things but it seems the business side is more appreciative of the work I do. And it is hard work when doing the business side. Family and individual is easy.

What it all really comes down to is my 3 girls now. My awesome wife, Zoe and now Hannah. I guess what I'm trying to say is yes I love my business, it is challenging and fulfilling. But it is not my priority. I work so that my family can live and enjoy. I don't live so that I can work. When I was on my own that's how it was but now, life is more rich. My family is where my heart is. In light of my growing family I've been noticing changes like this for me. My priorities are becoming clearer and it has been motivating me to work harder. Not only at work, but at family too. Because if you don't think family is hard work, check again.

So I'm taking time off when Hannah comes. And I'll take as much as I need. Work must take a back seat here and I know I'll get some looks at the office when I tell them I am taking what they think is "maternity" leave, but that's the way I see it.

Health Care Reform Bomb

noreply@blogger.com (Brandon) — Thu, 5 Jan 2012 16:22:00 -0500

I ran across this little image while surfing today. I think it sums up our dilemma over the Obamacare debacle quite nicely. While I'm not 100% for or against the law, the way it has been implemented has never felt all warm and cozy. There are many provisions in the law that I like; under 26 can stay on parents plans, the idea of no pre-existing conditions, and allowing states to offer competing companies. However, if you allow a federal mandate to purchase insurance, then people run for the hills.

There has to be some sort of tort reform so that doctors can manage costs without fear of malpractice lawsuits IMO. Or you could regulate what doctors and hospitals can charge without increase and then the cost of insurance would steady.

Is the ruling going to blow back in the face the administration? Many think it will.

The Insurance Business in 2011 vs 2012

noreply@blogger.com (Brandon) — Mon, 2 Jan 2012 12:20:00 -0500

Last year was freaking amazing. I never thought that I'd do as well as I did. My goals were met and I actually learned something too. On New Year's Eve I found myself wondering, what will 2012 bring. I am optimistic about my role as an insurance producer, but insurance as a whole will probably see some bumps along the way.

I often tell folks when they ask what I do that insurance is not the most exciting thing in the world, but it's necessary. The conversation often turns to politics and I try not to upset their political feelings but I really enjoy building this business though. I enjoy meeting with and talking with people to find the best suitable coverage. It's a great challenge at times but when I find it, and get a, "Thank you so much", it feels good. I feel like I really helped someone. Everyone wants the best for the least and my role is to find it.

While personally I did well, the Health Insurance industry is kinda in limbo. Everyone is waiting to see what will happen with Obamacare with a Supreme Court ruling this year. I am not really sure what to expect here. Obamacare has allowed for kids under 26 to stay on their parents plan which is good. We've actually seen an increase in uninsured policy since the passing of this law. Certain aspects haven't taken effect yet like allowing pre-existing conditions on all policies. This is still up in the air too with the ruling from the Supreme Court. To me it seems like this legislation is trying to gain on the insurance agencies profits. So while the law is making it easier for people to get coverage, we as agents might be losing in the long run and this is why I'm split on this issue.

My group business grew too. When I say group I mean installing a coverage plan to business's. I must say that this area is not as easy as I once thought it was. There are so many moving parts to providing this service to a business. A company has only so many options and ways to give coverage to their employees and with costs rising it's tough. I want to improve this area in 2012 more than any other. The lessons I've learned last year will serve this well in 2012.

Life insurance is an area I'd like to expand in too. I didn't kill it this year with these policies yet there seems to be room to grow. I've seen many studies on this and from what I've experienced, people are not that interested in talking about dying. People need it though, and I need to find a way to access those who do want it.

I do expect my business to double again. It did last year so why not this year. That's my goal. If there was one sentence to describe this business I'd have to say "The short term it looks bright". I don't know how it will all play out but I hope for the best.

The Infinite Banking Concept

noreply@blogger.com (Brandon) — Tue, 1 Nov 2011 16:02:00 -0400

The Infinite Banking Concept is a process and not a product. It has nothing to do with investing but everything to do with financing. However, when this strategy is combined with a product that gives you control over your money, it will beat any investment system.
Consider this concept: You finance everything. This simply means that you either pay interest to someone else (bank or other financing institution) or you give up interest you could have earned otherwise.
This is why this process is so powerful. It helps you accelerate your wealth by you becoming your own banker and not giving up interest earning potential.

For more information please contact me at my email.

Read Full Article Here...

The Spine is Not Designed for Sitting Around

noreply@blogger.com (Brandon) — Thu, 25 Aug 2011 15:11:00 -0400

A familiar argument against intelligent design is the one that is based on observations of supposed bad design in nature - inept, unintelligent or in other words nonexistent design. Interviewer Claudia Dreifus asks Harvard evolutionary biologist Daniel Lieberman. "People with bad backs often blame evolution for their pain. They say, 'My back aches because man was not meant to walk on two feet.' Are they right?" Answers Lieberman: "If that were true, natural selection would have its toll and we'd be extinct.

What is more likely is that many people sit in chairs all day, get no exercise, and thus have weak backs. We did not evolve to sit in chairs all day." Lieberman makes the case for learning from evolution how best to care for our bodies. Of course, what he calls evolution could just as well be termed design.

Read Full Article Here...

Frequent Flyer Diseases

noreply@blogger.com (Brandon) — Thu, 18 Aug 2011 12:01:00 -0400

A century ago - before jet planes - it took new diseases months to travel around the world, and many pathogens probably never made it out of their isolated rural stomping grounds. But now no place is truly isolated, no matter how remote.

We live in a world that's more connected than ever before, one where humans - and the viruses hitchhiking inside us - can circle the planet in a day. As a result, we're at greater risk from new infectious diseases than ever before. But there's an upside to our interconnectedness as well.

Thanks to the Internet and cell phones, we can know what's happening in nearly every corner of the globe almost instantaneously - and that's a boon for epidemiology.

Read Full Article Here...

Coolest Images of Charleston

noreply@blogger.com (Brandon) — Thu, 11 Aug 2011 13:33:00 -0400

I have a couple of the coolest photos and pics from Charleston. I know this site is normally about insurance but I decided to go into something that I find fascinating and that is the town I live in. I am a sucker for history and old records. I have a couple of old maps that are incredibly interesting. Keep in mind that Charleston is one of the oldest cities in the country so the history behind this town goes a lot further back than insurance.


Charleston's Trademark

This is basically Charleston's signature image. When it was completed in '05, there was one of the best fireworks shows I've ever seen. It lasted for over 30 minutes and it was synchronized with music and it really hit Charleston with a bang.


Arthur Ravenel Bridge

Here is another view of it.


Charleston Peninsula

I had to blow this one up big so that you could see some of the streets. Keep in mind that the reason much of downtown floods is because it is originally marsh and wetlands. I love old historical photos and maps like this.


Charleston Peninsula 2

You might have to click on this one to see it well. Check out the location of the Citadel and now its over near what's labeled as the Washington Race Course. Does anyone know what this is or was?

Shem Creek

This is the creek that winds up behind my house. It is a signature location for Mt Pleasant which is just east of Charleston. In fact, the bridge, pictured above connects Charleston to Mt Pleasant.


Mt Pleasant

This is a picture of the sunrise in my backyard on Shem Creek.


Alhambre Hall

This is a park in Mt Pleasant that is stunning at sunset. In the distance you can see the bridge.


Old Mt Pleasant

This is one of the only old maps I could find that actually said Mt Pleasant on it.

I normally stick to insurance but I thought this would be a neat post for a change. Let me know your comments and if you have any other cools maps to research. I love to discuss and find old records too so comment away.

Short Term Insurance...the Most Affordable, Lesser Known Health Insurance

noreply@blogger.com (Brandon) — Mon, 8 Aug 2011 10:11:00 -0400

When this product first came out, many thought it would flop because it didn't have all the moving parts of a major medical policy. Short Term health insurance is no joke. If you have just been hired, just been fired or not even employed, this is a great policy to check out.

When one gets hired, normally there is at least a 90 day waiting period before the benefits kick in and that can be an anxious 90 days. You might find yourself walking on eggshells or at least thinking of them until that health insurance policy kicks in. You might drive a little safer and take a few less chances until you get that insurance policy in your hands... right.

Well now you have a policy that can fill the gap. it's called a Short Term Medical Policy. This is a great policy that is so cheap. I'm talking less than a hundred bucks a month. There are some short falls and I will cover that shortly but I want to emphasize keeping creditable coverage until getting full benefits from the bossman.

The other reason to have Short Term medical coverage, is when leaving that job. I speak with so many folks who say the only reason they stay at a job is because of the benefits. Well don't! I've always followed my heart when it comes to work and if you are not happy with what you are doing your performance will show. Now you can quit that sucky job and keep creditable coverage until you find another job. Granted its not gonna be the same quality but again, it fills the gap.

And you don't have to pay those ridiculous premiums of COBRA. These are outrageous costs to anyone who has left an employer and needs to maintain coverage. Well look no further your fairy godmother is here and she is in the form of Short Term medical coverage... haha.

I want you to picture starting up your own business. Now keep in mind you are doing what you love and you feel motivated and passionately inspired by your work but now you have responsibility that you've never had to think of before and that's benefits for your company. Well to start you'd only have to insure yourself and that can easily be a short term policy becasue we all know that starting a busines there won't be a whole lot of extra cash laying around. Then once business picks up you can move onto an individual or group policy.

Now most Short term products do not carry co-pays or drug coverage, but there are built in features that discount those services and you still have the major medical aspect if there were a major event that required emergency care or hospitalization. We can even combine coverages to coordinate policies that pay only co-pays and drug coverage. They are also considered short term because they do not normally cover more than 2 years.

Its not that hard determining your options as long as you have a dedicated insurance agent who can advise you on you benefits. Short Term policies aren't new, but they have sure come up a lot in the past couple of years especially when considering today prices. So pick up the phone, or shoot an email to your local agent. You'll be glad you did.

How to Lower Health Care Costs

noreply@blogger.com (Brandon) — Fri, 5 Aug 2011 16:23:00 -0400

So what is it actually going to take to lower health care costs? Legislation isn't the only thing that can work. In fact it is probably making it worse. Health care as a whole is going to take a massive nationwide mindset change to improve our outlook for medical and healthcare expenses.

The infograph above indicates that many doctors office visits could be avoided. The first thing people think when they are sick should be to treat themselves with OTC drugs, then treatment from a doctors office.

If those 10% of visits were avoided and managed at home, over $5 billion according to calculations from the Consumer Healthcare Products Association (CHPA) would be conserved in health spending.

Imagine the savings here if a fraction of these costs were cut. These are the figure we should be focused on at the legislative level and not the healthcare management. Leave the private insurance companies to their own.

Fraud and abuse alone account for over 100 billion in funds.

An entrenched system is hard to change. Hospitals currently have little incentive to keep patients healthy. On the contrary, fitter patients would mean lower volumes and smaller margins, says Michael Nugent of Navigant Consulting, an expert on ACOs. Nevertheless, the current system is clearly unsustainable.

Does Dave Ramsey’s 12 percent growth stock fund exist?

noreply@blogger.com (Brandon) — Mon, 1 Aug 2011 12:22:00 -0400

Dave Ramsey, the nationally-syndicated radio talk show host, has done a great deal of good for a great number of people. His core message – that the only reliable way to obtain financial peace is to consistently live within your means so that you can pay off your debts and accumulate savings – makes perfect sense.

I cringe, however, whenever he mentions that people should put their savings into — in his words — a good growth stock mutual fund because it will earn 12 percent annually.

Whether it is on his radio show, his website, his books or his educational programs, Dave Ramsey quotes that 12 percent figure again and again. He uses the 12 percent figure to tout the superiority of stock mutual funds over nearly every possible alternative, such as annuities and cash value life insurance products.

I investigated whether the 12 percent return that he quotes is realistic, and I found some surprising facts.

I started my research with Dave’s explanation, which is found on his website. He says, “The current average annual return from 1926, the year of the S&P’s inception, through 2010 is 11.84 percent. From 1986–2010, it’s 11.28 percent.”

These return figures include the value of reinvested dividends.

You think that would settle the issue, but let’s look deeper at three questions.a) Is that truly the S&P 500’s average return?
b) Has the average person actually achieved that return?
c) Is the past return a good indication of the future expected return?
Shockingly, the answer to each of these three questions is a resounding no.

Read the full article here...

Benefits of a Local Agent – How to Find Them and What to Ask

noreply@blogger.com (Brandon) — Sat, 30 Jul 2011 09:21:00 -0400

Choosing individual health insurance from a local independent health insurance agent allows you to settle a deal face to face. This human aspect of purchasing insurance is quickly depleting, but you can still make use of a personable agent who can literally sit down with you and find the coverage you need. There are a number of benefits of working with a local independent health insurance agent.

Filing an insurance claim when you have a local agent is much easier as well. Even though no one imagines they will need to file a claim, it’s always a possibility. With an agent on your side, you have someone to defend your rights instead of going up against the insurance company all on your own.

Insurance coverage can be expensive, and with a local agent, you can save money. Ironically, the opposite—that working with a local agent is more expensive—is often assumed. If you find the right agent, this assumption is absolutely false, especially when you consider the personal attention you receive to secure the perfect coverage.

How to find them

A local independent insurance agent is what you will be seeking for the best insurance buying experience possible. Ask friends and family members who they have worked with on a local level and what their experience was like.
Outside your social circle, you can conduct your own research online. Check out the Alpine Agency and what they have to offer in terms of individual health insurance, guaranteed issue health insurance, Medicare supplement plans, and life insurance. Getting started with a local agent here is easy.

What to ask

Before you settle with one agent or another, inquire about their experience and training. If you get a negative feeling from anyone you talk to over the phone, continue your research until you find the perfect local agent for you.
Along with assessing the agent’s credentials, you need to find out more about the coverage you can receive when choosing individual health insurance plans. Ask about your right to choose your own doctor or hospital, how specialist referrals work, what the exclusions are, specific benefits of one plan over another, and of course what the premiums, deductibles, and co-payments will be.

Health Insurers Need to Improve Customer Relationships to Compete

noreply@blogger.com (Brandon) — Fri, 29 Jul 2011 09:47:00 -0400

Nearly 50 percent of health customers are willing to pay more for quality customer service -- a factor U.S. health insurers need to address to effectively compete for new clients -- according to a new survey from Accenture.

Accenture conducted a survey of 1,000 insured individuals to assess the impact of customer service on consumer preferences and found that nearly 80 percent expect customer services to be easier, more convenient.

Read Full Story Here...

8 Toughest Retirement Decisions

noreply@blogger.com (Brandon) — Thu, 28 Jul 2011 12:01:00 -0400

For past generations, planning for retirement was a relatively simple process. When someone reached retirement age, they threw a party, turned the job over to someone else and went home to live on their company pension. Retirement planning nowadays is a radically different proposition that involves asset allocation, retirement plan rollovers, transfers and distributions and a series of life choices. There are several tough decisions that most people must make when they stop working. The most difficult of these choices includes:

1. When to Retire

Those who are willing to work a few more years can usually enjoy a considerably better standard of living than those who retire early. But deciding when to retire can also be complicated by the possibility of layoff, early retirement incentive packages, personal health and other factors.

Read full article here...

Chimp Brain Bigger Than Humans?

noreply@blogger.com (Brandon) — Tue, 26 Jul 2011 17:15:00 -0400

Unlike the brain of our closest living relatives, the chimpanzees, particular parts of our human brain shrink in volume as we age, probably as an evolutionary consequence of our longer lifespan, suggest US researchers who report how they used MRI scans of chimps' brains to arrive at their findings in an early online issue of the Proceedings of the National Academy of Sciences published on 25 July 2011.

Read full story here...

Retirees Need Less Stocks, More Annuities

noreply@blogger.com (Brandon) — Fri, 15 Jul 2011 20:51:00 -0400

*This article can also be accessed if you copy and paste the entire address below into your web browser.
http://online.wsj.com/article/BT-CO-20110711-707228.html

Posted via email from bnice's posterous

What is Short Term Health Insurance?

noreply@blogger.com (Brandon) — Fri, 15 Jul 2011 14:44:00 -0400

I know this guy Stephen and he just started a new job that offers health benefits to its employees, but not for the first 60 days. He looked into COBRA from his previous job, but it was way too expensive.

This is where Short Term health insurance fits best. It also works well for college students, and kids who can't get coverage on their own. This policy offers catastrophic coverage for people temporarily without coverage. He can get coverage for 30, 60, 90, or 120 days.

This is a completely paperless process. Your application and enrollment materials will all be sent and received electronically.

It is also considered creditable coverage so it bridges the gap perfectly for group plans. Plans start at $20

Women and Health

noreply@blogger.com (Brandon) — Wed, 13 Jul 2011 15:18:00 -0400

More than any other demographic, women seem to have slipped through the cracks of the health care system. One in five women is currently uninsured; another 15 percent are on federal assistance programs. Historically, this has been in part due to gender rating, a common practice in which insurers charge women more than men for the same policy — sometimes by as much as 50 percent.
Fortunately, systems such as these are starting to be outlawed and women stand to gain more affordable access to care.
Read Full Article Here

New Baby... Buy Insurance

noreply@blogger.com (Brandon) — Wed, 13 Jul 2011 12:00:00 -0400

You’ve just had your first baby boy. Or maybe it was a little girl. Either way, congratulations. You don’t need us to tell you that life is going to change, and change quickly. You’ve no doubt already become accustomed to the idea of sleepless nights, midnight feedings, dirty diapers, and all of that kind of stuff. But what you may not have thought about with the birth of your baby is term life insurance.

But, you should. After all, there’s someone depending on you and your income now. If you haven’t already scheduled an appointment with your insurance agent, do so. You’ll want to adjust the amount of your term life insurance. And if you don’t have any life insurance yet, you’ll want to invest in some immediately.

Think about it. That little guy is totally dependant on your income. If you were to die today, what would happen? Who would pay for:

Diapers
Food (18-20 some years’ worth of groceries is a lot)
Health Insurance
College Tuition

Of course, there are a lot more expenses that junior will have growing up, but our purpose here is just to get you thinking about it. Even if your spouse has an income as well, chances are that it won’t be enough to cover your child’s expenses. These days, the average in state tuition is almost $8,000. And if, by chance, your little guy grows up to be a scholar, Harvard and Yale are much, much more expensive.

We know, your little guy is probably going to get a football scholarship anyway. You can already see that killer instinct in his eyes when he screams and reaches for that rattle. But on the off chance that he might need a little help paying for college, you might want to consider putting aside some savings for him and investing in term life insurance, just in case the unthinkable happens.

And while you’re at it, consider taking out some life insurance on your baby. We know, no one wants to think about their baby dying, but in the unlikely event it happens, you definitely don’t want to worry about where the money for final expenses is coming from. Besides, buying life insurance on him now guarantees that he’ll be able to get life insurance himself later, even if he has health issues.

Not all Bacteria is Bad

noreply@blogger.com (Brandon) — Tue, 12 Jul 2011 11:13:00 -0400

In today's world, it's all about making sure we are clean and take every precaution to ensure our health. Have you ever thought that the "germs" could help? What if I told you germs help fight against cancer? Or could help oppose bad breath, or are the reason allergies are more common today than ever. Take a look at this article and don't discount bacteria.

Read Article

Posted via email from bnice's posterous

The Harder I Work the Luckier I Get

noreply@blogger.com (Brandon) — Tue, 29 Mar 2011 10:27:00 -0400

Here is a good read from the Donald.

Read article

PS. do you think he really has a chance at president?

Posted via email from bnice's posterous

Health Reform Will Be Repealed

noreply@blogger.com (Brandon) — Mon, 21 Mar 2011 15:35:00 -0400

Presidential hopeful Newt Gingrich predicts the Health Reform Law will be repealed in a statement made today at a press conference.

Read full story here...

Posted via email from bnice's posterous

Health Costs Around the World

noreply@blogger.com (Brandon) — Mon, 28 Feb 2011 16:50:00 -0500

Interesting find on the costs of Health Care around the world. All I want to know is why is it so high here?

Posted via email from bnice's posterous

Crazy Odds!

noreply@blogger.com (Brandon) — Tue, 22 Feb 2011 10:46:00 -0500

Stay healthy my friends.

Posted via email from bnice's posterous

Blog for Dad's

noreply@blogger.com (Brandon) — Mon, 14 Feb 2011 11:17:00 -0500

I am pretty m a blog junkie at this point. I mean, newspapers are so old fashioned. And TV news is biased one way or the other. I find blogs to be more unique and purist in nature, for the most part. I have only been on the blog bus for a little over a year now so I'm not an expert by any means but I wanted to give you a taste of what I have been checking in on over the last few months.

Man of the House
This little nugget, (I shouldn't say little) is a very nice blog. Easy reading for dad's and stuffed full of useful tidbits. There's no pressure to buy anything and it seems so very genuine, like a real person.

Infinite Banking Concept
Tom McFie is throughly versed in his craft and delivers a common sense approach to this topic. This blog leaves the nuts a bolts and teaches with parable like stories.

Christian Business Daily
I can't tell you how many times I've read this blog and it's stories have been so relevant to what is going on in my world. My faith and business have both benefited from this one.

Blogs are like desktop wallpapers at times. You take the time to load them but after a while they can get stale. I have found these 3 to stay fresh and continue to enjoy them. I hope you do too.