Arizona Life Insurance

Why Buy Life Insurance?

It seems a simple question, right. Yet, many Americans have no life insurance – zero, zilch, nada. Why is that? The answer may be simply that life insurance is an optional insurance product that no one is truly required to buy.

Yet, everyone will die. Everyone will need buried. Even the most basic funeral costs money. However, most people want something more than just a cheap wood box. At least your family likely does. An average funeral today is expected to cost upwards of $15,000 or more. Do you have fifteen grand saved for your own funeral? If no, then life insurance is for you.

Dying with Life Insurance and Dying without Life Insurance

We’ve seen clients and friends die with life insurance and without life insurance. I can tell you first hand those families who received a life insurance check are in much better shape than those who did not prepare ahead of time. Imagine the stress of losing a loved one. Now imagine how much additional stress is involved if your finances are a mess on top of losing someone you love.

Besides Paying for a Funeral Why Should I Buy Life Insurance?

Most people that buy life insurance want to ensure their spouse and even children are left better off. They want to make sure bills are paid – the credit card, the car payment, the mortgage payment and provide additional monies to cover the air conditioner going out, the car breaking down, putting kids through college, paying typical household bills.

Remember, if you die your paycheck dies too. If you are breadwinner and die, your paycheck is not coming home again. How will your family survive financially without you working and earning a living?

How Much Life Insurance Should I Purchase?

Companies that advertise on television often state that you should buy 7 – 10 times your annual income in life insurance. One simple rule of thumb has always been that a surviving spouse could take a lump sum of money from a life insurance policy, invest it and receive 7 – 10% interest on this money. Thus, receiving the same money they were getting while a spouse was still alive without dipping into the principle too much.

The big downside to this approach is the current economy. Who makes 7 – 10% interest reliably & comfortably today?

What are the types of Arizona life insurance?

There are three main types of life insurance.

  • Term Life Insurance
    You usually see term life insurance advertised on television because it is the lowest cost for a pre-retired person. Term life insurance is great for younger people and families with children because it gives you the maximum coverage at the lowest rate. However, if you want life insurance in place during your senior years this is the worst life insurance product for you.

  • Whole Life Insurance
    Whole life is considered the Cadillac life insurance policy in the industry since it was developed. Premiums are level for lifetime, meaning they will never increase even as you get older. Your premiums earn an interest rate, which builds cash value. These policies also typically earn dividends, which means they participate in the profits of the insurance carrier. Cash value and dividends can either accumulate inside the policy for you at some later date or can be used to purchase additional insurance, which means your death benefit can increase over time. The downsides to Whole Life are few except that this type of plan can be expensive if you try and apply for a new policy later in life.

  • Universal Life Insurance
    These policies have a level premium that will never decrease as long as you pay your premiums. Your premiums can earn interest. However, some UL policies earn no interest. The premiums in some types are used to help your premiums remain level for life. The one downside to Universal Life insurance policies are few but be sure to consult with an agent before withdrawing cash from these policies.

    While most consumers today are very familiar with term life insurance there are two other major Arizona life insurance plans available. Everyone has seen the term life insurance advertisements on television. Some companies have inundated the airwaves with their commercials.

    You may not realize it but the odds are excellent that you are playing a Las Vegas game of chance with your life insurance. I call it Gambling with Life Insurance. And if you are on the wrong side of the gamble the chances are great that you are playing with a decked stacked heavily against you.

    And if you lose with your life insurance bet, it is your spouse and kids who really lose.

    Have you ever watched one of those Las Vegas tv shows that show you all the ways to gamble and they also tell you which games have the worst odds of winning?

    Term Life Insurance is the game of life insurance with the worst odds of paying off. People are attracted to term insurance because it is the cheapest form of life insurance, at least in the pre-retirement years. So what do most people do? They buy term life insurance.

    Yet, insurance companies love term insurance because of three primary reasons:

    1) Premiums will go up significantly as you age, forcing you to cancel as they become too expensive to keep. Advantage Insurance Company.

    2) With term life insurance, people tend to buy, cancel, buy, cancel their term policies. That means the insurance companies keep all those premiums without ever having to pay a death claim. Advantage Insurance Company.

    3) Very few death claims are filed on term life policies compared to other types of permanent life insurance. That means nearly all those term insurance premiums you pay are pure profit for the insurance company. Advantage Insurance Company.

    What type of life insurance shifts the odds to YOUR favor? Permanent Life Insurance

    Not long ago I surrendered my term policy for a permanent policy. I shifted the odds in my favor that my life insurance will be inforce when I die so that my family will receive that money when I die.

    If you have term life insurance just know that your policy will more than likely be expired or cancelled when you die. Those are the odds the insurance companies love because you pay in all those premiums for a policy that will never pay to your spouse or kids.

    Life is certainly unexpected.

    About an hour ago I wrote an article on my blog about life insurance.

    A few minutes ago a client calls. I have her auto and homeowners insurance but we do not have their life insurance. Her husband passed away a few weeks ago due to cancer. He was 34 years old.

    While he had a little bit of life insurance he leaves behind a wife and two younger children. To adequately provide for all the needs of a single mom with two young children a person would need several hundred thousand dollars of life insurance (in my opinion).

    Are you married?

    Do you have kids still living at home?

    Do you have a mortgage payment?

    Would your family suffer financially if you died today?

    Do you provide income into your household?

    If you want to talk about shifting the life insurance odds to YOUR favor, please call or email me.

  • Arizona Insurance Broker

    Have you ever purchased insurance from an Arizona insurance broker before? It might sound scary buying from a “broker”? But if you have ever bought a home you likely used a real estate broker and a mortgage broker. These brokers simply shop around to find the best home and mortgage loan for you. We do the same for you with your insurance.

    Some of the insurance carriers we do business with have been in business for fifty or even a hundred years! You probably can pay LESS and save MORE money by using an Arizona insurance broker, like Choice Insurance of Arizona.

    Helping Clients Since 1993

    My name is Gary Brown, owner of Choice Insurance of Arizona. I have been a licensed Arizona insurance agent since 1993 and have helped hundreds and hundreds of clients over the years. In 2007, I formed my own Arizona insurance broker company so that we can shop and compare insurance for our clients with a multitude of insurance carriers.

    We carry an “A” rating from the Arizona Better Business Bureau!

    Why Buy Your Insurance Through a Broker?

    As an Arizona insurance broker, we can compare insurance with nationally known and recognized carriers such at AAA, Travelers, The Hartford, Progressive, Infinity, Unitrin, Foremost and many others.

    We also provide insurance through many lesser known companies who are top rated and offer great rates but may not be familiar to you. Buying insurance through an Arizona insurance broker is actually quite the same as buying a home or getting a mortgage – we are shop and compare your rates with many companies.

    Some insurance agents and companies can only give you one rate. Not us, we have many carriers at our disposal to help you save money. Why should you spend hours and hours on the telephone calling all these companies when we can do the same for you with ONE phone call. Our service is free to the consumer. We are compensated by the insurance company.

    Auto Insurance and Homeowner Insurance Broker

    There is no obligation to get a quote on your auto insurance and homeowner insurance. We can help you save money on your auto insurance and homeowner insurance by looking at many carriers to see who has the better rates. We work for you, not the insurance company. While we are compensated by the insurance carriers our first goal is to help you find a policy that is less and saves you money.

    Be sure to ask about your coverage. We do not want you fixed only on the premium because if you have a claim you will not care about your premium as much as how well your policy protects you. Some clients simply want to carry the exact same coverage they have or had with their prior carrier, and that is fine. However, we encourage you to allow us the opportunity to speak with you about your coverage limits. We want you well protected.

    Life Insurance Broker

    There are dozens and dozens of life insurance companies offering very competitive rates. We compare with upwards of fifty different Arizona life insurance companies to find you the lowest rate available. We also will help you design a plan that fits into your budget. There are different types of life insurance available – term, whole life and universal life.

    Which Life Insurance Plan is Best?

    All of the life insurance plans can serve your needs – but they all have differences and utilizing them to your best purpose and cost is what you want to accomplish. We can help. Have a tight budget? Let us help you design a plan that fits what you are able to spend? Want a life insurance plan that will cover all your needs for the rest of your life? We can help you design a plan to accomplish both needs.

    Boost Your Retirement Income

    And for our retired clients we can help you increase your retirement income through our Lifetime Income Annuity. This investment has no risk because your monies are not invested in the market. We place your monies with the insurance company, who in turn provides you with a lifetime income that will never decrease. There is also no fees associated with this product.

    Call me. We try harder to save you money and provide exceptional customer service. You are like family. I hope you give us an opportunity to help you with your insurance.

    We provide Canadian Insurance in Arizona because there are so many winter visitors here from Canada. Our neighbors to the north provide a much needed influx of capital to our state. They are crucial to the success our state because of the money they spend. But even more than that, our Canadian visitors cause little trouble, pay cash, spend money, and make great neighbors here.

    Thanks!
    Gary Brown, Agent/Owner
    (480) 659-0229

    Maximize Your Retirement Income Today

    How would you like to earn up to 9% Pay Out Rate on your retirement income with NO risk and NO fees? It’s true and we are helping clients boost their monthly retirement income and giving them peace of mind at the same time.

    A Lifetime Income Annuity is considered one of the safest and most reliable investment products for retirees today. There is no risk and zero fees associated with this product.

    What are your common investment options?

  • Stock Market
  • Bonds
  • CD’s
  • Bank Savings Accounts
  • Lifetime Income Annuity

    The stock market is a bit too risk for the tastes of many retirees today. Bonds carry inflation risk – if inflation takes off bond returns will likely decrease. CD’s and bank savings accounts pay nearly nothing in interest. These options have never been more un-desirable for retirees.

    One of the above investment products offers 1) lifetime income payments that are guaranteed and will never decrease as long as you live, 2) has no market risk since the product is not involved with the stock market and 3) has no fees. The correct answer of course is the Liftime Income Annuity.

    What is a Lifetime Income Annuity?

    A lifetime income annuity also goes by the name single premium immediate annuity. This product is handled by insurance companies. We compare pay out rates on your behalf to find the highest pay out rate with a top rated and top ranked insurance company. This product is not bank guaranteed, like a CD, because it is sold by insurance companies. Which is exactly why we only represent the highest rated insurance companies to provide you with security and peace of mind.

    Does this provide me a check for life?

    A lifetime income annuity will pay you a monthly check as long as you live. If you are married it can pay you AND your wife a check as long as you both live. This product offers an optional feature (which I usually recommend) that, should you die, will pay any unused monies to your beneficiaries.

    Are there any downsides to a lifetime income annuity? There is one. The monies you put into this product are set in stone; you cannot access other than the regular monthly check you will receive for as long as you live. The money in this account cannot be accessed – you give up that right, and in return the insurance company agrees to send you a monthly check that will never decrease as long as you (and your spouse) live.

    The above caveat is the reason we usually recommend clients only invest a portion of your total retirement account into a lifetime income annuity. You still likely need money for emergencies and other flexible reasons and need to set monies aside that are more readily accessbile. But a lifetime income annuity is a great way to boost your retirement income and help you maximize your retirement income.

    How do I determine my pay out rate?

    Pay out rates are determined by gender, age and marital status. Some clients earn up to a 6% pay out rate while others may earn 9% or even higher. The older you are when you apply for this account the higher your pay out rate. But once you have secured a lifetime income annuity the pay out rate and your monthly check is guaranteed and will never decrease as long as you (and your spouse) live. Once we know your pay out rate and the amount of your investment we can calculate your monthly income. Call our office to find out exactly what your pay out rate will be.

    The minimum investment varies by company. However, we usually require at least $20,000 as a minimum investment in order to generate you a decent monthly income.

    Please call our office and inquire about a lifetime income annuity. We can let you know your pay out rate and how much income this investment product will earn you. I look forward to hearing from you.

    Thanks!
    Gary Brown, Agent/Owner
    (480) 659-0229

    P.S. We are not securities licensed and do not sell securities related products. Neither do we offer any type of securities related investment advice. However, we do offer fixed investment products that carry little to no risk, such as the lifetime income annuity.

  • Arizona Condo Insurance

    The Right Policy for You

    For many consumers Arizona condo insurance can be slightly confusing. The reason? Condos and single family dwellings are both homes yet the way they are insured is different. Condos usually have an association insurance policy to cover the roof and walls. If you own a condo your insurance will be slightly different than a homeowner insurance policy for a single family dwelling.

    Where do we insure?

    We insure anywhere in Arizona. And we can provide Arizona condo insurance if you live in Arizona,
    live outside Arizona or even in Canada. As long as the property you are insuring is located in
    Arizona – we can help you!

    Canadian clients are welcome to call. Many Arizona condo insurance companies do not insure
    Canadians who buy a condo here in Arizona. But we can help you.

    What are the Differences?

    Do not compare your Arizona condo insurance policy to a regular homeowner insurance policy. A condo policy typically has an association which purchases insurance to cover claims on certain parts of the condo unit. A condo association insurance plan may cover the roof and walls but there can be gaps in those policies. Clients do not need insurance coverage for the roof and walls, in many cases.

    Yet, you still need dwelling coverage because everything inside your condo that is attached to the
    building is considered a part of the dwelling. Imagine picking your condo up and turning it upside
    down. Everything that does not fall is part of the dwelling. Everything that does fall
    will be considered your personal property.

    What is considered a part of the condo dwelling?

    Your Arizona condo insurance policy should provide adequate coverage for your condo dwelling. The following are items that usually are considered part of the dwelling: paint, carpet, tile and other flooring, lighting, cabinets, sinks, toilets, ceiling fans, built-in wall units, window coverings, and more.

    The rest of the condo is your personal belongings, such as furniture, appliances, electronics, etc.

    What is Loss Assessment?

    Loss Assessment helps protect you against gaps in your condo association insurance policy. Imagine your condo building is damaged extensively and the association insurance policy has a gap in coverage that excludes this particular type of claim out of YOUR pocket. You, and your fellow owners, will be asked to bear the burden of covering the claim.

    Also, your condo association insurance policy likely has a deductible. You, and your fellow owners, will be asked to pay your equal share of the deductible. Imagine if that deductible were four or five digits in size? Would you want to pay this deductible out of your own pocket?

    Adding Loss Assessment Coverage

    Loss Assessment is an optional coverage that your agent must place on your policy. If your agent does not automatically put Loss Assessment on your Arizona condo insurance policy please ask that he/she do so. The cost of this optional item is relatively inexpensive. And certainly, it is worth the cost for the vital protection this coverage affords you.

    Saving Money is Important

    As an Arizona condo insurance broker we will compare condo insurance rates with several carriers to help you pay LESS. Simply complete the quote form on the right side of this document or call our office for a free, quick quote. Quotes are completed the same day, in most cases.

    I look forward to hearing from you.
    Sincerely,
    Gary Brown, Agent/Owner
    (480) 659-0229

    Pay Less for your Auto Insurance

    Do you want to pay LESS for your Arizona auto insurance?

    Choice Insurance of Arizona is an Arizona auto insurance broker! An Arizona auto insurance broker simply means we can shop your auto insurance with many different insurance carriers to help you find low rates on your Arizona auto insurance.

    An insurance broker shops and compares auto insurance with many carriers to help you find low rates. We are not locked into just one carrier, as so many other insurance agents and companies. If you want to pay LESS, let an Arizona auto insurance broker help you compare rates.

    If you have never tried buying insurance from an Arizona auto insurance broker before it is perhaps the easiest and most efficient way to buy insurance. You make one phone call and we do the rest. Our goal is to make your insurance-buying experience a positive one.

    Save Money

    We compare your Arizona auto insurance with top ranked and leading carriers, such as Progressive, MetLfe, Travelers, AAA, The Hartford, Badger Mutual, Infinity, Mapfre and many others. Our goal is to save you money but also to ensure you are protected by a top rated company. We have helped some clients save a few hundred dollars per year while other clients have saved substantially more.

    You do not pay extra with an Arizona auto insurance broker! Our service is free to the consumer since the insurance carrier compensates us. WE WORK FOR YOU! It does not matter to us which insurance carrier has the lowest rates – we will offer you the lowest rate we find.

    Save Time

    Why waste hours of your time making phone call after phone call? Let us do the auto insurance shopping for you? To do the insurance comparison we do you would have to dedicate an entire day to calling and getting quotes. Why waste your time? Let us do the shopping for you. We are automated and can compare rates with leading carriers quickly.

    Old Fashioned Service

    The world is fast paced and highly technical. Yet, we strive to provide you with old fashioned customer service. We actually answer our phone. Have you ever tried to call a national company and got the run-around from their phone prompts? It is tiresome. That’s why we believe in answering our phones and/or returning your call promptly.

    If you ever receive our voice message we will call you back shortly. It simply means we are on the phone currently with another client. But we will not give you the run-around or spin your wheels with a frustrating voice message service.

    Helpful Advice

    We encourage you to ask us questions about your coverage. Just because your current or prior agent or company had placed certain coverage on your policy how do you know for certain those are the correct limits for you? Perhaps they are but we would certainly like to give you advice and councel if you are ok receiving it.

    Our goal is to help you save money but also help ensure you are coverage correctly. What good is insurance if you do not have the right kind or right coverage? When you contact us be sure to ask us to explain each coverage item on your policy.

    Referrals

    The best recommendation you can give us is the referrals of your friends. Insurance is a competitive field and we try hard to out-service our competitors by giving great service and helping our clients save money. If happy with how hard we work for you, please tell your friends or ask them if ok if we contacted them for a free quote.

    Please contact us today for a quote! There is no obligation. We guarantee you will either save money or we will not. It’s that simple. I look forward to hearing from you.
    Thanks!
    Gary Brown, Agent/Owner
    (480) 659-0229