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JotTron Limited, LLC DBA/Troncalli Associates Insurance Solutions Blog: insurance

View the latest blog posts from JotTron Limited, LLC DBA/Troncalli Associates Insurance Solutions.

"Do not throw in the towel; use it for wiping the sweat off your face." - Otto Graham

I contemplated this month’s article on insurance for humans for a long time.

Insurance for humans means that I advise only humans.

So, nothing to do with property or casualty, business insurance, boats, planes, and trains. Primarily my line of products falls into three categories. Life, Health (Medical), and Wealth Protection. My friends who are in the financial advisement industry (FA’s) get rather perturbed when I say wealth.

Wealth does not mean I want to help you with saving money for whatever needs you have. I certainly have enough stress with dealing with the medical catastrophe much less attempt to deal daily with the financial indices and compliance laws which will take a toll on anyone.

No most insurance agencies stick to the adage “Cobbler stick to your last” in other words do what you do best. And never try to solve everyone's dilemma.

Insurance that protects wealth is medical, disability, long and short term care, critical illness, dental & vision just to name a few.

Medical risk can change your wealth in a matter of days or minutes. A simple accident for a child that is an athlete with a torn MCL diagnosis can cost you up to $20,000. If you are holding onto the days when medical solved that risk, you must have been in a coma for the past seven years.

The Rest of the Story

This past week with four phone calls was enough to put me over the edge. Since I have a word limit, you can read the full article on my blog. However, here is the short version of one of the four. I will condense this as it would be improper to say anything but the abstract truth. A 62-year-old female called about needing medical insurance. The husband was retiring from a long career so that he would have insurance now on Medicare. She would need to have her medical coverage starting next month.

Since she has been on the husband's plan for years, she was not up to speed on the laws or the plan costs until today. I asked her a few questions, and her only question was will this cost more than a few hundred dollars. What do you say to someone that has had group plans and now her choices are down to two companies. Least expensive plan in her county would be over $980 a month. That would be a bronze (catastrophic) plan?  I wrote the notes that are now the article that you may be reading. My agency was started to leave clients with a solution, not a call that would cause worries and panic.

I confess each week advising nice people on how to deal with medical insurance is a no-win situation, and I am out of solutions. It may be time to throw in the towel.

Posted 3:02 PM  View Comments

Tags: insurance



May is Disability Insurance Awareness Month.


Approximately every seven seconds, a working-age American suffers a disabling injury or illness that will last a month or more. Most are off the job. Nearly 57 million Americans are living with a disability.

As an insurance broker and benefits advisor, I talk to people and business owners daily about the real possibility of a disability. The question I ask is, "How long can you maintain your lifestyle without a paycheck"? It is a simple question. Many people say, "I have medical insurance".

Here are some facts. The chance of missing work for three months or longer as a result of an illness or accident is much higher than most employees realize. The risk is compounded by lifestyle, your profession, and other factors.

Did you know that more than 25% of today's 20-year-olds will become disabled before they retire? 

What is causing this rise in disability claims? Time is money and long-term disability ( 6 months to 1 year) can have a devastating effect on a person's financial situation. New statistics show 65% of today's workforce could not pay their bills for more than a year without an income. The average LTD claim lasts 2.6 years. A disability lasting 2.6 years translates to 135 weekly paychecks missed. If you take an average of $21.50 an hour that is enough money to buy six compact cars. 

The IRS regulates the amount of money that you can qualify for through disability insurance. You can receive a maximum of 60% of your gross income paid out monthly. Employers should look at disability as one of the top three benefit offerings that a prospective employee looks for in a permanent position. 
Posted 8:45 PM  View Comments




GET A LIFE 
!

Before you Leave.
 

"True humility is not thinking less of yourself; it is thinking of yourself less."

- C.S.Lewis,Mere Christianity

 

Hopefully, you have enjoyed my recent articles for insurance. I apologize for not having them in the magazine for the last two issues. I was out of town and traveling to receive an award that was humbling and was extremely unexpected. Being a finalist in Selling Benefit magazine for May for Broker of the year award in 2015. To be thfirst in the state of Georgia for this national honor, was remarkable as I retired in 2002 and had assumed that my business career after 29 years was over. I believe God had something else in mind. I came back to my birth state in 2009. Georgia was definitely on my mind after I had left in 1975 after graduating from West Georgia College.

Obedience to
our, Lord can sometimes be hard to understand. This past Sunday my pastor, Dr. Kevin Williams gave the best explanation that when we feel the Lord calling we need to answer. It was a wonderful expository and an impactful message. As an insurance professional building, a practice takes time and patience. It also takes a calling. My past business career was marketing companies and products. Products that you can feel, touch and even smell. Insurance in my humble opinion should not be sold. It should not be a slick sales job or a slick selling pitch.I believe you sell clothes, cars, gadgets, houses and all the stuff we desire in status symbol land.Insurance especially insurance for humans has no sex appeal, nor status symbol significance.Take life insurance, it's never going to do anything for the insured. Nada, nothing, zilch, so here's what I say to clients "is there anything or anybody you Love?" If the answer is NO, then don't bother to call an insurance professional. On the flip side offering insurance solutions especially medical and health plans can be very rewarding to the agent and the individual or family. I have seen as a certified PPACA agent, I have gotten a lot of joy from seeing families getting health coverage for the first time in their lives. Hard to believe that we have people in the USA, that have never had a physician.Many of these people had to submit to be humbled and receive a subsidy for them and the family to have affordable health care.It takes obedience to submit to need help and receive help. If you are part of the 80% who still have not sought health care coverage then please act on obedience to help you and your family this year during the November, enrollment period.

 

Vic Troncalli offers "FREE INSURANCE COUNSELING" for medical, health, and life plans. He can be reached at Vic@TroncalliAssociates.com or 678-941-3248.


 


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