Life Matters

05/10/2021

This article will help shine the light on the truth about Life Insurance.

There are many myths when it comes to life insurance, such as “only healthy people can get coverage” or “it’s too expensive!” Find the truth here.

04/07/2021

The new tax credits for those seeking coverage under the Affordable Care Act (Obamacare) is now available. The savings are very good, and will result in substantial reduction in monthly payments for most applicant.Two
examples shows actual change. 1. Husband and wife ages 64 & 61 monthly premium reduced from $177 to $74.28 a monthly savings of approximately $102. 2. A young 22 year old female, monthly premium reduced from $81 to $7.82. This is your chance to get Affordable coverage. Call me Delton Phillips 954 330 1406 and let's see how much you can save in getting good health insurance coverage.

02/04/2021

Good news, President Biden has authorized a new open enrollment for getting Affordable Health Coverage. This period will be February 15th to May 15, 2021. This Special Enrollment Period (SEP) will allow individuals & Families to apply and enroll for the coverage they need. More to follow.

01/22/2019

Here's the best source of information on "Living Benefits Insurance" https://livingbenefitsexperts.com/deltonphillips Visit the site and see how this vital benefit is helping families.

The future is now. This first-of-its-kind, augmented reality-enhanced book will show you why owning Living Benefits life insurance is not a luxury in this day and age, but an urgent necessity.

07/18/2018

Can you find a second animal in this image? Comment below.

09/26/2017

Hurricane Irma points to the need to take a look at your insurance.

Hurricane Irma has brought to the fore front the importance of insuring your assets. There are several home and business owners who are lamenting the fact that they did not have sufficient insurance, and in some cases no insurance at all. What will be the effects of this decision not to insure adequately or none at all? In some cases the assets will be lost, and nothing can be recovered. In other cases they might be able to use their savings or other assets to get the asset back to usable state. But it does not have to be that way. Here are a few steps you can take to prevent this from happening to you.
 >Take an inventory of the assets that you own.
Have the assets valued by a competent evaluator, and get them insured.
 >Periodically review the policy to ensure that it still meets your needs. Upgrade where necessary to cover any gaps indentified from the review.
 >Make sure that you have all the contact information for your agent.In times of treats, take the necessary steps to secure the assets to prevent or minimize damage that could result in a claim.
 >Make sure that you understand the claim process, or hire a competent Loss adjuster to handle the claim process on your behalf.

The foregoing was all about your physical assets, but what about insuring your greatest asset – YOU? Yes, YOU are the greatest assets to yourself, and your family members who depend on you for financial and emotional support. But many have avoided insuring this very vital assets, why? Here are some of the excuses often given for not buying Life Insurance.
1. Life insurance is too expensive, I can’t afford it right now
Facts: Result from a recent study by Life Happens, and LIMRA found that 63% of persons surveyed said it’s too expensive, and 80% overestimated the cost. Reality is that insurance coverage is not as expensive as most think. “People think its more expensive than it is for protection that they truly need” – Marvin Feldman, President & CEO of Life Happens. So talk to an agent who can show you what is available and the cost.

2. I am healthy, I can wait.
Facts: It is best to buy a policy when you are healthy because healthy insured pays less for coverage. The longer you wait the greater the probability that your health could be impaired, causing you to be denied coverage or if accepted you will have to pay far more than someone who is in good health.
3. I don’t have dependents, or a spouse.
Facts: Many people who buy life insurance do so because they love someone, it can be an aging parent who they assist financially, or a special someone, a charity your church etc. Getting a life insurance policy and making these mentioned as beneficiary is a very good way to continue supporting them even after your death. Life insurance also help if you have a business or have major co-signed debts.
4. Social Security survivor benefits will be enough.
Fact: Social Security only pays $255 as a burial grant, whereas the average cost of a funeral is approximately $7,000. A life insurance policy can provide for your final expenses. Your insurance policy can also accumulate cash which can be used to supplement your Social Security, and other monthly pension payments when you retire.
5. Insurance only pays out when I die.
Facts: With the advances in actuarial and computer sciences, insurance has evolved from just being a financial instrument that pays when you die, to one that pays “living benefits” ie you don’t have to die for living benefits policies to pay to you the insured. How can this be? Traditional life insurance policies only pay out at death, but Living Benefits provide crucial funds when you need them most. If you experience a terminal, chronic or critical illness, such as a heart attack, stroke, disability diagnosis you can access your death benefit while living. In addition if you are unable to perform two of the activities of daily
Living then the insurance policy will pay a monthly amount based on the amount of the coverage.
So this is a good time to take a look at your insurance needs. Call your agent and arrange for a review of your insurance needs. If you don’t have an agent, I will be happy to assist you. Contact me- Delton Phillips, 954 330 1406 (text or call) email: [email protected].

07/09/2016

Did you know this?

06/07/2016

Putting “Life” in your life insurance policy.

There have been many beneficial changes to the life insurance product that most policyholders, and potential policyholders are unaware.
The long held public belief is that the only time a benefit is paid from a life insurance policy is on the death of the insured person. But, recent changes approved by most state’s insurance regulators allows insured persons to get benefits from their policies while they are alive. In other words “Insurance you do not have to die to use … Living benefits”.

Here is how it works. Most insurance companies can now include in their policy offerings a benefit call the Accelerated Benefit Riders (ABR) at no extra cost. This allows the insured to access a portion of their policy death benefit in event of a severe, or life threatening critical, chronic or terminal illness. This is money that can be used to assist with medical or other expenses as the policy holder desire. Let’s look at an example, we will call the insured Dan Mann. Dan Mann has a $200,000 policy, he is diagnosed with terminal cancer, if he elects to use the accelerated benefit he could get up to 90% ie $180,000 paid to him as a lump sum. Mr. Mann could elect to take a lesser amount if he so desire.

Another beneficial change is the introduction of Indexed Universal Life policies.
In summary these policies;
Provides total protection from market losses, because the contract guarantees that the cash value will never have a negative return.
An annual reset provision allows the policyholder’s gains to “lock in” each year of positive return.
Protection of the accumulated values in the policy from the claims of creditors in event of a bankruptcy, judgement etc.

This is an excellent policy to include in a policyholder’s retirement, and or children’s education funding plan.

For detailed explanation on these changes please contact
Delton Phillips, CLU, MBA.
Insurance Advisor
Telephone: 954 330 1406
Email: [email protected]