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March 12, 2021 1:29 pm
Al Kushner, author of The Savvy Guide to Buying Burial Insurance : What You Need to Know Before You Meet With Your Agent calls the show and provides great tips and insights that help make this important decision a lot easier.
John, you recently had recently had a friend of yours and his family go through what we talk about here with my ninja guest and I'm so glad that he called in and do the set up and tell the story that I will introduce her get scotch out. Well, this was a this was a man who had a rough early part of his life and got into some really really nasty trouble and was in prison for about 30 years or so, and this was what I was talking earlier that this is how I met him some dear dear friends of mine were participating in like a mentorship program for your church for individuals who are getting out of your long-term stays in prison and he got out and while he was in prison he had purchased funeral expenses, he'd be purchased. Funeral insurance and is he came out of prison pretty much needing a caregiver himself, but had gotten married while he was imprisoned to his his longtime sweetheart and that she had really just profound medical issues and was not going to be able to really do anything to to make money your earnings are that there were, they were and how I was in destitute but definitely not as close to it going close to it, but he died last year or year and half ago, I think, and she'd have to worry about anything. The whole thing was taken care of by went to the point of service is all which is no small feat, no not at all absolutely. And so that's why it will push the customer contacted me over the week and said you would this be a topic that you guys like to conduct development and support that I thought yet we never cover this before and he wanted talk about the value of burial insurance and so I is it because you are cutting. I'm so sorry, I should've known that all the sensible Burrell great to have you here with us in the year on the phone with John and me and Emily were thrilled to talk about this, but John story of his friend. That's one that you heard many times in the need for the flip side of the horror stories of this to have a challenge.
I think when people think that you know just by applying for insurance that's automatic and it's not necessarily the case. A lot of times there be situations where a person can have a medical condition appraising addition which may prevent them from getting benefits for two or three years depending on the company and longtime. Sometimes they can be declined because you know that and realize you know that help development is not in favor with the company that they are applying to.
So that is a challenge on people face when looking to cover trends and premiums can vary now ranging as much as 40 to 50% higher know.
If you don't really talk around that's really what my book talks about the seven guide to buying burial insurance what was what people need to look for with with a policy like that of what are some things that that you would caution them on and some common mistakes people make and then some positive things that they can look for and say okay this is something we need to ensure this is included. What are some like that that you would offer, while important thing is to look for an agent who is independent because your little have your best interest so they should have at least 15 to 20 companies that they represent, and they'll be able to shop around for a company based on your health condition because most people who are applying this coverage have some type of ailment that have her medication at the taking and the insurance companies are aware of, so loving and that's really something that you need to really look at you now you see a lot of times on TV ads and such that really talk about you know being inexpensive but a lot of times I'll talk about the fine print which is really you know examine loan amount medical condition or things that may limit to you in terms of getting benefit based on that health condition. So it's really important to someone is independent that can give you the best value for dollar is not beholden to a particular company or a benefit from maybe nonselling the best. Now the best thing for you and yeah yeah you are you are saying if you a lot of times people shopping around for this. It's for reason so they any insurance company's are aware of that so that makes sense what so average funeral cost will vary so long you guys located where Rob what stake Johnson Tennessee Johnson Nashville I'm in Montana and out here. It's more like you go for a walk in the woods kind of thing you know they come back to pick you feel you figure your shorts with Chubb with the ocean.
In some places it out here. You just grab a couple of roles grubbing to just walk into the bliss. I did all of this over in Montana so it's you know you're right is a state-by-state but is it as a general rule, like underwear you tell mom in Florida and Florida so South Florida so very there is a website you can actually go do: parting.com RTI NJ.com and actually will give you a price break down what the funeral cost average and not based on your ZIP Code and where you're located, so long as it is very an advance on you know what features you're looking for in your co-conspirators a lot of you know things added to that one flowers arrangements and she wanted caskets.
All these things are need to be looked at.
Part of the job that something that you can kind of look at on the website and to get more of an exact figure, but I would say it ranges anywhere from 7500 to as much as 15,000 you know, on average, maybe more, depending on how elaborate you want this quite a sticker shock when you go to the immediate grieving process as well. You know that you're going to be dealing with all the drama of of the loss of a loved one in the most said your face with this kind of cost that could be a little bit overwhelming and daunting.
I would imagine and and II think this is this is why wanted to have you wanted a because I think people overlook this and and these policies don't have to be hyper expensive, particularly if you start now instead of waiting till you note. The doctor just gave you three months to live at least a week will is is coming at some point, but you don't want to do it well you know it it's yeah that that would be bad so that's what you're looking at. So you really, no bikini young you are, the less cost that is of course in LPR, the better you don't get dissuaded if you had applied for coverage and were the client. A lot of times there are companies out there that will accept is where people have COPD which is condition that most companies wanting to touch, but I do have some carrier that will take them on now and then and approve them literally the same day so a lot of times people realize that they can actually be covered literally within 30 minutes.
You know, so it's not a long drawn out process. It's really quite easy and you can do it online. You know, it's very simple.
So you have to have a legal now let's what's great about no physical required no just answer couple out questions and situations, you know, we have no policy that will issue guaranteed issue.
So which does require like a stone like a life insurance policy to have the blood work all the stuff is not the quite the same. Ptolemy it's a policy like insurance, but specifically it's not where you may require blood nowadays you know a lot of people don't want to have someone come in and all more little place because Nicole wouldn't talk so they want convenience and over here you know you can do it literally online and you know and just talk, you know, it usually takes maybe 20 minutes and conversations with you know me in the insurance underwriter and most the time we get people approved within 30 minutes or less so really convenient. Nowadays it's just really cannot no-brainer have to think about it, so you don't have to worry about a lot of things.
It's just a matter of no answering some questions and really just part of the inability to see what payment is. That works best for you know plants could know is affordable. It's not really expensive depending on your age. Of course, so the waiting 2185 or 90 years old, coursing out of his remarks about your book but you look at what my know this is not a silly subject you to hear a lot of people writing about but but certainly more than everybody's got a need to deal with what you will. It's just a resource that's available and it's online and on Amazon. Another primary challenge and it really just give you, like you know the details on what processes that compare options in terms of one or insurance for yourself or maybe want to get for your parents and a lot of times people blind coverages so they can take care of the expenses of mom and dad. A lot of times it's something that ineluctable and talk about book and really something that you have to address because someone's Paper that and why people think they can rely Social Security pay, but most the time the most they'll pay is $255.
So it's really very limiting and what you'll actually receive that's what people think that's not the case at all.
So let my clients. You know the binder for the parents annually buying from themselves and eventually you know when let's write about is that the premiums never increase their there they stay the same and policy is guaranteed renewable and pays immediately. You know it just something that you peace of mind that something that you don't really find a lot of the insurance policy particular you like a love term insurance. Most policies usually expire at age 70 or 75 and at that point you know if you're at that age, you have to need something to cover know those final expenses so something that is permanent and will take it up to 800 so that's really what people want to have the system policy just negative for final expense because that's what you're looking at it now nowadays. Looking at the average cost of funeral. Let's say it's a 15,020 years from now it could be doubled.
So you anticipate for the future and that's really what people need to be aware of. So the book really goes into detail about it that educates and informs and something that you know it helps you make a choice based on information provided not from Miller agent set up a short know this is something that you can decide and most times we can get people covered without having to go to homemade it just makes it real easy to know call the phone actually. What's great about it so hopefully and what we talked with us on the show a couple of couple weeks ago but when the greatest things you can do for the people who are going to be in that situation where there there there are morning you and having to deal with all of this and then get sticker shock like we were talking about is to just count for the people that great gift for the people that are there left behind after you two just take that off of them and make sure that they don't have to have to deal with all of the messages all planned out and taken care of already. Anyway yeah with the book burial insurance Al Kushner. Ella got to question fully real quick just making sure you put like a stupid question but you consider the source. But do you see when you do these policies because he thinks everything happens pretty fast. You know when there's a death everything gets planted in the overtime. Do they work with the funeral directly or they just cut a check to the person in the persons responsible distant with the funeral home or some kind of bullets is that quality beneficiary to designate so if you have a child. For example, loose adults, and then they would segment rhetorical everyone designate some people even leave money to charity.
For example, a portion of the proceeds you know so it's something that people want to give closer to the church. Whatever or Oracle have someone else, but nothing company will transmit 11 extra know how others would go to the individual did the funeral homes do they have a set up like like you physicians do with the preferred provider type of thing where if you work with in some kind of network is unknown.
A lot of funeral homes are network now dissent is that even on the radar or that way out in left field doesn't really apply again this is something one insurance company will provide a check to the beneficiary time.
It's not the funeral home.
That's the beneficiary at state individual handling the expenses that have occurred or that they don't have like in Rome like a scene from X XYZ company with a have a list of of funeral homes. I would recommend for example in my area.
I don't know who to call. That kind of stuff because I go to one of the up because about your beneficiary assistance policy that I may give some kind of a little bit discover something in the network that I'm not. I'm always looking for good discount volume will you go in my book this resource on no shock around the funeral home instruction. You can see my thing and what have you. So it's always good to look at and compare and use also muscles important long time to see which homes may be better suited to you and which ones they stay away from so you have this. The savvy guide to buying burial insurance Al Kushner and right now if you go out there on Amazon Kindle in their offer to for free on Kindle only just the digital version, so it's a great ride and also gets royalties for that because it was on that's that's so your help now that Al Kushner this savvy guide to burial insurance is important topic for us as caregivers talk about. Let's nothing like planning and avoiding the drama that could happen so well. Thank you for being part of the show day will have you back on appreciate all of the this is willing to help speed Rosenberg in math 3 1/2 decades as a caregiver. I've spent my share of nights hospital sleeping and waiting room some foldout cot shares. Even the floor sometimes on sofas and a few times in the doghouse. But let's still talk about that as caregivers we have to sleep in uncomfortable places, but we don't have to be miserable. We use pillows for my pillow.com. Things are great. They have a patented interlocking field and adjust your individual sleep needs and for caregivers trying to sleep in all the different places we have to sleep leave me our needs get ripped up significantly. Think about how clean your pillows are in the covert world were all fanatical about clean. Can you wash your pillows with my pillows for my pillow.com if we throw in the washer and dryer.
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