Home Insurance Tulsa | Diving For Ocean Perch
What? What, what’s up? What’s up blogosphere? What’s something? Sure you Oklahoma fans. What’s up my brother? What is with you? I mean, I know my fans can’t wait for the next insurance blog or podcast and I am here to deliver on delivering live Karl Malone, Karl Malone. The mailman. No. Who was the mailman that was George at? Was, was always delivered. Anyway. I’m here to deliver the postman and frosty the snowman. Or was that Rudolph the guy that was played by Fred astaire. Alright. So regardless of it, she was build state house 69. Home Insurance Tulsa, we left off her land podcast, last blog post discussing life insurance and the need for it. And I’m here to tell you if you are a young family, we have, we are big believers in advisory insurance services and we advise young families with kids to have privately owned life insurance. Now we’re not gonna sell you expensive life insurance.
We don’t believe in it. We are a mostly in term insurance store because we believe in helping our clients get the best insurance value. Now, if you are young and you have young kids, you know, a 20 year term policy level term, it’s probably good. It’s gonna fit inside your budget. You’re not going to worry about, Home Insurance Tulsa, keeping it or selling it or getting rid of it. You’re not going to have to worry about making these huge premium payments. And when it comes to saving money, you don’t do that with life insurance. Come on, come on. Now you know, that’s not the best way to do it. Bonds aren’t going to be high for another 30 or 40 years. And uh, in the and in life insurance companies always lagged the bond market anyway, and that’s where they invest in money. So a good term insurance policy for a nice young family will protect, even if you’re not young.
When I was 51 years old, I took out a million dollar life insurance policy and it only cost me like $1,200 a year, $1,200, $100 a month for a million dollars of coverage. If something should happen in my own. Home Insurance Tulsa you never know. So what do young families need? They at least need a policy on the breadwinner to cover debt and replaced income that will allow your family to stay in the house because you can pay off the house and, and 10 years of income or so we’ll provide you with a livelihood while you raise the kids and, or, um, you know, get on with life. So, you know, life ain’t easy, but if you have a $280,000 mortgage, you have two car payments that equals $70,000. Now we’re up to $350,000 and you make a $150,000 a year and you want to pay a, you want to provide 10 years of income for your surviving spouse.
That would be one point $5 million dollars of coverage for the income replacement for $350,000 for the debt pay off. That’s one point. Eight, $5 million dollars for a 35 year old, it’s going to cost you less than $100 a month. And that’s to protect your family. If anything should happen to, you know, you pay more for your home insurance, Tulsa, pay more for your car. Insurance. Doesn’t make sense to take care of your family the way they needed to be taken care of. Uh, it does. Home Insurance Tulsa, and ensure you, Oklahoma, we can make sure you have the life insurance that you need and that something you don’t, not something that’s crazy. You know what, if you’re a wealthy person and you already have a pile of money and a pile of money you want to leave for each kid. And, uh, you also want to leave life insurance finalists.
Let’s talk about a permanent policy if that’s what you want. But most of our clients aren’t. Most of our clients are concerned about covering their home and have home insurance, but they also want to cover it in case something happens to the, uh, main breadwinner of the household. Now, what about a spouse? What about a stay at home spouse? She stays home. She has three kids or two kids. And you are the big hitters. You know, you weren’t in town in the law office and you leave the house at 7:30 in the morning and get home at 7:30 at night, 8:00 at night. You know your wife doesn’t earn any money. Home Insurance Tulsa? What do you need insurance on her for? Well, there is something called a life value that insurance companies do and insurance companies will look at a person’s life value. Now, it might sound cold, but in reality, you know what it is what?
It is a. They have to come up with an actuarial value in your life. Imagine if your wife died who would take care of the kids, a nanny? What do you think? That’s gonna cost and do you want it and taking care of your kids. Maybe you want to cut back to part time or maybe you want to quit for a couple of years and take care of your kids yourself. I mean, my God, they just lost her mother and her. They needed her dad leaving everyday and being gone 12 hours a day. Probably not. Do you want to move into a smaller house, closer to work and that might be an option. The Home Insurance Tulsa would be cheaper because it’d be a smaller house, but is that really what you want? So now let’s talk about the value of your wife’s life. What does that work? Well, we could flip it and say if we replaced your income for 10 years, $150,000 a year, one point $5 million, that would allow you to stay home with the kids for 10 years or at least a few years until they’re in school. And then you do some part time stuff.
Home Insurance Tulsa what about paying off debt? Well, life’s a lot easier if you don’t have debt and you have some income, you might feel better about leaving your job to raise the kids if you have no debt and some income. And then once they’re a little older and when they leave the house every morning at 8:00 to go to school, you’ll go back and do some part time work or you work from home during, you know, just some legal work from home. But you gotta make sure the home insurance policies paid and the premiums paid, uh, the last thing you want is a double disaster, more tragedy, and that would be if you don’t have home insurance Tulsa, that your houses uncovered and it burns down. Now your wife died and your house is burning down and you don’t have coverage for champs, some money in the bank, and that it’s truly tragic because the kids are absolutely devastated. Mom’s gone. She died if I believe, if I remember correctly, her appendix burst while she was diving for ocean perch. And it was tragic. It was underwater. Home Insurance Tulsa She felt the pain and then all of a sudden, you know, gone can’t get up fast enough. Sepsis set in everything is truly tragic. So you want to make sure if you have any abdominal pain and you’re diving for ocean perch, that you do not, you do not dive without having to check it out.
I’m not saying hi. Coffee was terrible. The pod was broken and it was full of little crystals. Now, of course, Home Insurance Tulsa, a coffee maker is not covered on home insurance. Tulsa? Well, let me, let me just sit there. It actually is, if you have a huge loss, uh, your coffee maker would be covered if you like, even total loss replacement cost coverage if you have a good insurance agent who knows what they’re doing. So basically you want to make sure you get the best coverage you can. And when it comes to life insurance, man, the last thing you want to do is talk to some agents who can quote one company and ensure you Oklahoma. We can quote a 20 plus companies. We only want to deal with a plus rated company. We don’t want a problem in the future. This is the one policy boy, if there’s a last can be absolutely catastrophic, you know, not that home or auto insurance isn’t, but when it comes to life insurance or even disability can be catastrophic. And the next time we’re going to talk about longterm care insurance, who needs it? How much does it cost? Why is it so expensive and wider? Premiums keep going up, up and up and up. And, uh, the reasoning behind it, how many insurance companies out there provide longterm care insurance? While I’m here to tell you it ain’t a lot. So if you’re diving for ocean perch, don’t let your appendix burst.