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 these clients don’t know what to look for in their annual statements. They miss the telltale signals that their policy will have problems in the future. We perform hundreds of in-depth reviews each year at no cost to the client. The peace of mind you get knowing your policy will be there to do what you bought it for is priceless.
5. I’m uninsurable
We’ve heard that a lot. Fortunately, when we drill down into the details, we find the person is insurable. They just got some bad information. It may be their agent didn’t have access to an insurance carrier that would cover them. Perhaps medical technology hadn’t come up with a level of care to make them insurable back when they were shopping. Due to medical advances and access to hospitals plus special cardiac, cancer, and other specialty facilities, people are living much longer. Cancer and heart attack survivors can be insurable at standard rates in as little as 2 years. Diabetic, Bi-Polar, and even HIV positive clients are now insurable. It’s very difficult to be totally uninsurable these days unless you just don’t want to be insured or are making excuses to yourself and family.
6. I don’t need life insurance, I’m single and debt
This is a pitfall in a different respect. People who are single and debt free also have needs. They don’t have as many tax breaks and have a need for tax deferred growth. They are limited to how much they can put aside for their own retirement in IRAs and other qualified plans. They need sources of tax-free or at least tax-favored retirement income. They lack access to someone who will take care of them due to a critical or chronic illness without being paid. They lack the resources to replace their own lost income during the building years. Whether single/couple, with/ without dependents, young/old, new insurance products can give you the ability to protect yourself against living too long and outliving your financial resources, dying too soon, or getting sick along the way...all in one policy.
7. As seen on TV
These advertisements on television and radio are bombarding the public daily. They usually have a well- respected actor pitching how you can get XX units of life insurance, guaranteed, no agent will call, limited or no health questions, etc. They also tout that the amount you purchase can never go down and prices will never increase. What they fail to tell you is that the size of a “unit” gets smaller and smaller before you buy as your age increases. They don’t tell you that you have to keep the policy for two to three years before it pays the death benefit you requested. And they fail to tell you that the reason no agent will call is because they don’t have any agents. If there is ever an issue, your family will be dealing with a 1-800 number that routes the call to a center in
whatever foreign country they selected to handle claims and service. We have been serving our clients in the Tampa Bay area since 1986.
8. Buying for today
The last pitfall is for the person who just wants a final expense policy. They’ll say, I just need enough to bury me. When we started back in the mid 1980s, you could get a funeral for $500. However, funeral costs have doubled about every 10 years since then. Unfortunately, many people fail to take that into consideration when they ask for enough coverage to pay for a funeral today... instead of when they are going to need it. This is why many people end up having to purchase multiple policies over the years to keep up with rising costs. With proper direction, we can help people combine those policies into something that will cover their needs for an affordable price.
   Pete C. Baker, II James E. Parks
550 North Reo St, Ste 300, Tampa, FL 33609 813.261.5088 |
JPB & Associates is an insurance agency located in Tampa, Florida whose 80+ agents service clients across multiple states, primarily Florida, Georgia & Alabama. The co-founders Pete & Jim are dedicated to serving the needs of client-friends they have made over the years as well as new clients each year. Their ongoing goal is to be able to provide a One stop Solution For your Life insurance needs.
For a consultation they can be reached by email at or at their local office. Phone-813-261-5088, Fax 813-354-2494

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