How Insurance Works

Manly Minute: Life Insurance


LOVE IT. NICE JOB THERE. 9:48. FROM SUMMER CAMP TO A LITTLE MORE SERIOUS TOPIC. IN THE MANLY MINUTE, KEN EXPLAINS WHY WE ALL NEED TO CHECK OUR LIFE INSURANCE POLICY. YEAH. AS THE PERSON WHAT THAT IS TAKING CARE OF THE FAMILY. MOTHER OR FATHER. GOTTA MAKE SURE YOU SET YOUR FAMILY UP FOR THINGS THAT MAY HAPPEN AFTER YOU ARE GONE. TIME TO CHECK YOUR LIFE INSURANCE POLICY. THERE ARE CERTAIN EVENTS THAT MANDATE YOU DEFINITELY GO BACK AND CHECK YOUR LIFE INSURANCE POLICY. HERE ARE THINGS HERE. ONE MORE BONUS AT THE END. YOUR FAMILY IS GROWING. OBVIOUSLY IF YOU’RE HAVING MORE MEMBERS OF YOUR FAMILY, YOU PROBABLY WANT TO INCREASE YOUR FAMILY. REMEMBER, YOU’RE DOING THIS SO THAT IN THE EVENT THAT YOU DIE, YOUR DEMISE, YOUR FAMILY WILL HAVE SOMETHING TO TAKE CARE OF THEM. THAT’S WHY YOU’RE DOING THIS. REMEMBER, THAT’S THE REASON IT’S CALLED LIFE INSURANCE. YOU WANT TO INCREASE THE COVERAGE TO MAKE SURE EVERYBODY IS TAKEN CARE OF. NUMBER 2, YOUR HEALTH HAS CHANGED. BELIEVE IT OR NOT, IF YOUR HEALTH HAS DRAMATICALLY IMPROVE, YOU CAN GO, AND THEY’LL MAYBE THINK ABOUT LOWERING YOUR RATES BECAUSE YOUR HEALTH IS IMPROVING. A LOT OF THESE THINGS CAN BE LOOKED AT EVERY YEAR. SOMETIMES HAVE YOU TO WAIT FOR THE POLICY TO EXPIRE IF IT’S A FIVE- OR 10-YEAR POLICY. IF THE POLICY HAS CHANGED, A LOT OF INSURANCE COMPANIES WILL TAKE A LOOK AT YOUR POLICY AND MAKE IT CHEAPER FOR YOU. THINK ABOUT THAT. NUMBER 3, YOUR MARITAL STATUS HAS CHANGED. NOW YOU HAVE TO TELL THEM IF NOW YOU’RE MARRIED. AND NOW YOU AND YOUR SPOUSE ARE RELYING ON EACH OTHER’S INCOME TO TAKE CARE OF EACH OTHER. THAT CHANGES YOUR POLICY AS WELL. SO TAKE A LOOK AT THAT. AND THAT MAY BRING YOU DECREASE IN YOUR RATES. NUMBER 4. YOUR BENEFICIARIES HAVE CHANGED. THAT MEANS IF YOU’RE GETTING LIKE MARRIED, THAT’S ONE THING. BUT IF YOU’RE ALSO GETTING DIVORCED, YOU HAVE TO START CHANGING SOME NAMES THAT ARE ON THAT POLICY, DEPENDING ON HOW THAT AFFECTS YOUR LIFE. MAKE SURE YOU CHECK YOUR LIFE INSURANCE POLICY. AND DELETE NAMES ON THERE OR CHANGE THE STRUCTURE OF THAT. LAST THING I WANT TO THINK ABOUT. HOUSING STATUS HAS CHANGED. YOU BOUGHT A NEW HOUSE? GREAT. YOU’RE GOING TO THINK ABOUT MAYBE INCLUDING THAT IN YOUR LIFE INSURANCE POLICY. OR MAYBE WANT TO THINK ABOUT ADDING ARE THE THINGS TO IT. OR IF YOU JUST SOLD A HOUSE. THAT’S GOING TO CHANGE YOUR POLICY AS WELL. ANOTHER THING TO THINK ABOUT THAT IS REALLY IMPORTANT. IT’S NOT ON THIS LIST. IT’S SOMETHING I JUST EXPERIENCED. MY WIFE AND I BOUGHT A LIFE INSURANCE POLICY WHEN WE GOT MARRIED 10 YEARS AGO. PRINT. AFTER 10 YEARS, THAT POLICY CHANGES. AND THE PREMIUMS, THEY WENT UP 300%. SO WE CALLED OUR AGENT AND FOUND OUT IT WAS A 10-YEAR POLICY. SO WE SIMPLY SCRAPPED THAT POLICY, GOT A NEW ONE. TOOK A NEW MEDICAL EXAM. AND EVERYTHING IS JUST FINE. THINK ABOUT THAT, IF YOU HAVE AN INSURANCE POLICY THAT IS A 10-YEAR POLICY, WHEN YOU GET TO THE END OF THE TERM, IT’S GOING TO INCREASE DRAMATICALLY. BUT DON’T PANIC. YOU CAN GET OUT OF THAT ONE. TO FIND OUT MORE, GO TO GOODDAYSACRAMENTO.COM. CLICK ON SHOW INFO FOR TODAY’S DATE. MAN UP FOR BEING PREPARED FOR THE FUTURE. GOOD DAY CONTINUES AFTER THIS. ♪ [ MUSIC ] ♪


Leave a Reply

Your email address will not be published. Required fields are marked *