- Analysis of insurance companies
- Top 10 insurance companies 2021 | The good, the Bad, the Cheap
- Life Insurance study class TYPES OF INSURANCE
- Health or Life Insurance? Anong Dapat Unahin?
- Why Is Term Insurance Better Than Whole Life Insurance?
- Top 5 insurance companies for 2020 | What makes them special?
- MY 7 INSURANCE COVERAGES PHILIPPINES | All my life and health insurances | HMO, Permanent/Term Life
Analysis of insurance companies
the purpose of this presentation is to,give you an overview of the accounting,reporting and analysis for insurance,companies every industry has their,nuances and turns no exception in terms,of how things are recorded have what,they title of accounts would be and what,is the focus of any evaluation of the,company and what were going to do first,talk about the regulation of insurance,companies then some of the basic idea of,how you analyze insurance company and,then specifically look at what are,called iris ratios for property and,casualty as well as life and health,insurance companies the regulation of,insurance companies is simple but its,important to understand that this is an,area where there may be some change due,to some of the laws coming out of the,subprime crisis so we may see some,changes in this but this is the current,state of the regulation insurance is,regulated by the state because of the,Tenth Amendment to the US Constitution,this basically tells us that anything,not specifically power given to the,federal government is basically by,default,up to the States and this is the basis,the live States will regulate insurance,companies are not the federal government,theres also the McCarran act and this,exempted insurance companies from,federal laws as long as the states were,regulating these companies now there are,two types of insurance companies there,is the stock and then the mutual a stock,company is an insurance company that is,owned by shareholders and the,shareholders may receive dividends and,if the company is publicly traded they,can sell their share,and other investors can buy the shares,if the company is a mutual then it is,actually owned by the policyholder so if,you are insured by a mutual interstate,farm you are actually an owner and could,receive dividends so this mutual and,stock now all companies will be,regulated by the Federal Trade,Commission with regard to competition so,if there is a merger proposed between,two insurance companies then the Federal,Trade Commission can step in and,challenge that particular major as it,was with any industrial corporations now,the SEC will regulate at least the,securities of any company that is a,publicly traded insurance company so in,other words youre not going to be able,to find this financial statements of,State Farm on the edgar site at the,FCCs website but you will find those of,all state which is a publicly traded,insurance company now it would be rather,awkward if an insurance company operates,in 50 states and what they have to,provide in terms of financials and any,other type of information is different,for every state so what has happened,over time is that theres been,uniformity given to state laws through,the National Association of Insurance,Commissioners and what this association,accomplishes is a degree of uniformity,so that a company like State Farm or,Allstate could operate in all 50 states,and not have to have 50 different sets,of regulations so the sum of uniformity,was a part of a statutory financials,some of the uniformity is respect to,what we do with some pet financial,information such as the iris ratios,which well talk about in the moment,now in addition to all this regulation,and I mentioned those who sell insurance,are going to be licensed by the,respective state and was there selling,the product and when we analyze,insurance companies we have at least a,minimum the statutory financial those,are the financial statements and theyre,quite comprehensive that are required by,na nai C in other words by the state so,insurance companies prepare the,statutory financials and they file them,with the state and then eventually that,information is made public and the,insurance commissioner x will use that,information and evaluated income the,insurance company if its publicly,traded insurance company they also have,to prepare 10 KN your reports,8 KS 10 Qs all those statements that,are required of any publicly traded,company so you have a lot of information,out there on publicly traded insurance,companies if you have statutory,financials and you have the financial,statements as we know them and familiar,with now what the state insurance,supervisors do is they review the,statutory financials and they apply the,IRA system of ratios which is just a set,of ratios that give us a picture of the,financial health of a insurance company,but they use other metrics as well with,respect to the iris ratios and a few of,the other metrics they have whats,called the usual range and its anytime,something is any ratio and outside of,the bounds that more scrutiny is,provided to that company now how many,have to be without that range well,really depends on the state it depends,on what the companys history is with,the state in terms of being within or,outside of bounds after look at the,whole economic condition of the state,and which the company is operating and,so forth so its not a hard and fast,rule that you must have X number ratios,outside of a range before they have,further scrutiny is kind of a fuzzy,criteria basically you calculate these,ratios you would if theyre outside the,usual range and then the supervisors,will apply risk-based capital standards,and other types of analysis and this is,focusing on the capital and surplus of a,company that is how much of a cushion is,there for policy holders in this,particular company because policy,holders are essentially the you know a,liability the losses that they may incur,have to be taken care of and so that is,you know policy holders have to worry,about whether theres enough cushion,there in case theres a downturn and the,values at the have been investments of,the company so that want to make sure,theres enough cushion so that the,insurance company can pay the,applications so in terms of the tools,that we have in financial analysis for,insurance companies we have the iris,ratios coming up soon we also have,growth rates and premiums and growth,rates and premiums working hand is too,fast too slow excuse my miss Donna so,the growth rates too fast or theyre,growing too slow relative to other,companies in the same industry one of,the renewal rates because when you think,of it when you take car insurance these,which every year you stay with the same,company but people tend to stay with the,same company but if all the sudden the,renewal rates are declining that may,show some lost market share for that,company and some type of decline so that,would require us to look further theres,also if you have that much information,you can calculate the premium per policy,the premium per policy will give you an,idea if theyre charging more for a,given policy than before are the rates,changing for example if a particularly,of insurance is getting riskier and they,would be raising premiums on those,particular policies so you can look at,that if you can get the,number of policies in force from their,disclosures you could then calculate the,premiums per policy and look at that and,see if it changes over time there is,also the dimension of reinsurance,question always comes down to what,portion of policies are reinsured that,is insurance companies insuring another,insurance company and whats the,financial condition of the reinsure,because that will affect the insurance,company that the subject of the analysis,and looking at reinsurance is important,its not reinsurance is best but how,much is it being used and is there a,change in how its being used that it,has is there a trend in war reinsurance,over time or less so lets take a look,at basic insurance and basic insurance,you sell a policy select the premiums,over time and the premiums are invested,now if theres actually a loss then,theres a payout on the policy so some,of the investment that has been made is,going to be paid out to the policyholder,now you will find that the collection of,premiums dont only line up with the,calendar year so there going to be some,premiums that are earned during the,period that is for policy
Top 10 insurance companies 2021 | The good, the Bad, the Cheap
hey guys mark with think insurance and,today were going to talk about the top,11,insurance companies that are for home,and auto in general,so if you are in the united states and,you want to find out which companies are,the rated the best,were gonna go over that right now as,usual you see me drinking the coffee,it is the support for this channel if,you guys are interested in supporting me,theres a link below to buy me a cup of,coffee and ive recently had a few of,you buy me coffee i appreciate,everything you guys are doing,it is very helpful it fuels my channel,which is really,me running around in circles trying to,research all of the data so i actually,pulled up an article from cnet and there,were some interesting things that i,didnt agree with,a lot of it and were going to dive into,it right now,they started off by explaining what,coverages are what and each states,different,and depending where you live and your,gender and all that stuff,makes a huge difference so at the end of,this whole,process the real question is where,should you,go to get the best insurance quote,because youre in different states and,youre in different guidelines,im in michigan where the rates are,crazy you may be in north carolina where,they dont care as much,im going to link below a company that,works with multiple states,and almost every single company that,were going to talk about today,is in there if you want to shop across,all of these companies,its really simple to do you dont,actually have to even talk to a person,now keep in mind this article does,reference one thing i do agree with they,do tell you,that its not always the cheapest that,gives you the best service,so thats kind of a factor theres a few,things that im going to,tell you near the end of the video that,i think you guys should pay attention to,because im going to make another one of,these videos,thats going to go a little bit more in,depth with some different companies that,i think are going to have a little bit,more,meat or depth to what were going to,talk about lets dive right in the first,one,geico insurance and geico came in first,although its a lie if you read their,article closely,theyre actually second and were gonna,go over the first one in a second but,geico,their overall satisfaction rating was,high,id love it in the comments below if you,can either rag or praise geico,let me know what your guys thoughts are,most of the time geicos a really good,fit overall,they dont have any bells and whistles,so youre not going to get a ton of,stuff,some states they wont even quote you in,or theyll make you jump through a,million hoops like mine,and other places they dont offer home,insurance so theyre more tied to the,best auto insurance prices,and i will agree they do have from what,ive seen a good satisfaction rating,so if youre looking for an inexpensive,company to go with thats going to give,you decent service,geicos a really good option what were,going to bump them back and put back in,the number one slot,is usaa now no company is going to rate,usaa,only because the fact that you cant,join them its kind of a crazy thing,you have to be part of a military family,or,tied to some sort of military in order,to join usaa,the only thing about them is theyre,slipping a little bit,their coverages are starting to drop a,little bit more and more,while their prices have started to go up,a little bit more and more at least in,my state,i can tell you when i first started,doing insurance i couldnt touch them,they had great rates,they were a great company i still think,they have some of the best service there,is,but their problem was is now that,theyre getting more competitive,triggers and competitive driving apps,and all of these other things,the usaa price is starting to go up a,little bit,or just not keeping up with the market,and the demand that in turn has led us,to be competitive i would say out of,five,quote three if not four of those times,were more competitive than usaa,and then the benefit is youve got an,agent like one of us,that can shop you across multiple,companies as life changes,youve got all these different options,where usaa,as great as they are youre kind of,stuck to the one company,the third one is allstate allstate has,been a large company im actually going,to work on a review on this channel per,request from several people,so i will put that link here or below,when i get that video done,if not just subscribe turn the bell icon,on and watch every single video that i,make until you see the allstate video,theyre a good company they have,a few extra kicks in their policy,theyre really good with service theyre,large theyre one of the larger,companies in the nation,and theyre just overall a good company,i wouldnt shy away from them for any,reason,the only thing that i will warn you to,be careful with is their agents,agents have a tendency to not be trained,well,and ive seen that with multiple,companies all states not excluded from,this list,where their agents ive seen to be a,little bit more aggressive,because in some states theyve had some,rough patches,and when youre the guy taking away,their business ive seen some things and,im not going to put on this channel,because thats specific to the agent,and not to allstate but just be careful,because if youre choosing your agent,you want to make sure that you get the,right person coming in at number four is,who last year i claimed as number one,personally is progressive,and progressive insurance is just,crushing the market,i want to say theyre second or third,largest in the nation now theyre,growing,they have a market cap that is large,if you want to watch that video ill,link that here they are just an overall,good company,they do ride share they do a savings,bank so if you want to,put some money away for a deductible if,it happens they led,the market with snapshot which is one of,the best things they have my favorite,thing which theyre actually allowing,you to do a test drive,link that video here where you can test,drive them two weeks,three weeks in advance without ever,committing at all,you can do their snapshot see how your,driving record is,and then theyll give you a discount and,tell you the exact price before you even,buy it,thats amazing progressive is doing some,innovative things,and theyre good with service they have,really good service people,if you go through an agent you can go,through your agent and go through,progressives so you have multiple,options with their company that brings,us to number five which is auto owners,auto owners is great i have loved,hearing that name for years,ive never really been with them but,ive seen them work and ive seen a lot,of people happy,they like usaa have slipped a little bit,not as much,theyre still very competitive at least,in my state they are the part that i,love about them is,theyre really good with teachers and,those accredited theyre affiliated with,the teachers association,which most companies are now so its,kind of lost that luster of that,discount,but even if youre a kid of a teacher,and youre,30 now and life has passed theyre still,going to give you those discounts for,being tied to mom and dad,throughout the period so that they keep,you and the whole family as a group,with their company theyre really,competitive with home especially in the,state that im in and thats the,toughest piece of them,so they overall know that customer,satisfaction is the main focus,and i think thats where auto owners,really shines the most insurance,ill give you a little secret its,really allstate on the internet,just like progressive now has,progressive direct,just like nationwide i dont know their,company i think its the general i,dont quote me on that its somebody but,all these companies liberty mutual has,safeco,they have sub companies and insurance,when you watch their commercials years,ago when they first started doing this,said hey for those of you that dont,want to go to an allstate agent,were going to create a cheaper
More: toofan review
Life Insurance study class TYPES OF INSURANCE
you got to get licensed to get paid now,lets start off going through chapter,one,life insurance is two types of life,insurance and the first one you need to,master and know backwards and forwards,is term life insurance,term life insurance,just like the name implies is temporary,it lasts for a term period of time,so,temporary period of time,now were not,were not getting a degree in life,insurance teammates we just want to know,the material to the point where we can,get the answer right get to get the,right answer on the test so a lot of,this is just word association so when,you see the word term the answer is,gonna be temporary nine times out of ten,if you say temporary the answer is gonna,be termed nine times out of ten pick,your right answer dont try to figure,out why the other ones are wrong and go,to the next question term is temporary,it lasts for a period of time it doesnt,have any cash value or dividends or,anything like that and youre only,covered for during that period now,we have an acronym,and because we came up with our own,notes to help people study,and the acronym to learn the different,types of term life insurance is dial,d-i-a-l,down so the d stands for decreasing,the i stands for,increasing,the a stands for,annual,renewable,term or a rt commonly called,and the l stands for,level term,now this is real simple teammates,now,if the name of the policy says,decreasing then its just logical that,the policy the face value what you cover,for is going to decrease,if the name of the policy says,increasing is logical thats going to,increase,annual renewable term is level the,premium in the face amount or what you,cover for a state level but you renew it,annually thats why it says annual,renewable,and that level term stays the same for,the whole,period youre covered for 10 years 20,years 30 years on the policy thats what,we offer here which is the most the best,value in life insurance now,decrease in terms,as far as what are a big part of pass,and test is knowing what is the material,they want to know what is it that the,person that wrote the test what do they,want to make sure that you know,they want to make sure you know that,decreasing term is most commonly used,or most suitable when a client wants,life insurance to cover a mortgage to,cover their mortgage or some type of,loan,so if the policies if the question says,something about jack and jill want a,policy to cover their mortgage or a loan,or bank note whatever kind of fancy way,they come up with loan they use describe,loan and thats a decreasing term,increase in term is most often,associated with return of premium,policies meaning youre going to get not,just the face amount that you have but,its going to increase by the amount of,premiums you paid return of premium,policies,and your renewal return can be tricky,because,that what you cover for stay the same,but the premium goes up every year when,you renew it but even though the premium,goes up every year when you knew it as,far as the test is concerned and your,renewable term is considered level term,life insurance,so dont let that trick you up because,we got a level term as a different type,of policy altogether,but annual renewal return on a test is,considered level term because the face,amount stays the same,level term insurance the phase amount,stays level but on a test they want to,make sure that you know their level term,insurance is the most expensive,the first year,is the most expensive the first year,and your renewable term,is the cheapest the first year,but that does not mean in your newer,term is a better value because over a,20-year period if you get an renewable,term and the premium goes up every year,for 20 years it is not a better value,level term thats going to stay the same,over 20 years your total cost over the,20-year period can end up being five,times more on an aaron over term than,this final level term even though the,first year of that term was higher now,this is term life insurance teammates,this is all you need to know,if you know this backwards and forwards,you should get it right on the test,every time now what hap only other thing,they learn about term life insurance is,what happens at the end of the term so,if i got a 10-year pause a 20-year,policy of 30 possible what happened at,the end of those 10 years,term life insurance is either going to,be renewable,or its going to be convertible,or both,so we got a easy little saying for us to,help us remember that if you have a,renewable policy that means you have a,policy that goes from term,to term,so when i say renewable you say term,term it just goes together every time,renewable term to term renewable term,return renewable term to term so if a,client has a 20-year,renewable term if they buy it at 40 when,they turn 60 is guaranteed to renew it,for another term,now convertible,is turned,to perm,germany prime or permanent short for,permanent insurance so convertible is,termed a perm terminal per term to perm,so like on a test it may ask you what,type of term policy goes from one that,does not build cash value to a type of,policy that does build cash value and,that would be a convertible term because,the term policy does not build cash,value but when at the end when it,converts to a permanent policy it does,build cash value,these are the two ways or the one way,that renewable and convertible life and,term life insurance differ from one,another,but they have two things that they have,in common,that they are the same,they both renewable and convertible,policies,they both are,guaranteed,insurability,guaranteed insurability means,regardless of your health you can get,another life insurance policy so you,could have cancer stroke heart disease,kidney failure brain tumor,diabetes all that kind of stuff it,doesnt matter no questions asked you,can renew your policy,and you can convert the policy,the other thing is the other feature is,it has an increase in premium,based,on attained,age,attain ages age you are when you renew,it or convert it so if you get a 20-year,policy you buy,20 years later when you turn 50 when you,renew it the premium is going to be,based on your age of 50 which is going,to be higher,the same renewable and convertible both,of those are things they have in common,and this is what how they differ,if you write this down every day,and review this 10 minutes a day you,will learn this material and get your,license it is so much better to study 20,minutes every day than one day for three,hours let me say that again 20 or 30,minutes every day for 30 days or one,week two weeks three weeks is,infinitely better in two or three hours,one day dont do like i did in school,well i didnt study at all and i would,cram the night before and then that may,not work with this because its enough,material you need to look at it some,every day,all right term life insurance and whats,even better,is to rewrite these notes every day and,thats even better because if you,rewrite it and as youre writing it its,going to stick every day in a week,youll have this stuff backwards and,forwards now this is term life insurance,the next type of life insurance is whole,life insurance her life insurance is,uh get the camera is the camera still,whole life insurance,is permanent,so term is temporary,and whole life is permanent so,where uh,so whole life is generally got a few,moving parts to it so whole life is,considered permanent it builds a cast,value inside of the policy,it has a level premium to age 100.,our acronym for our whole life insurance,is wales,w-e-l-l-s,that w is for,a traditional,straight life,pure life policy,all those three terms are,interchangeable if theyre only quit on,the test if it says jack got a straight,line policy or he got a position like,policy but he got a pure life policy,its all the exact same thing,a straight line traditional life of,prayer life policy all of them are going,to have the same,feature its going to have a level,premium,to age 100,its going to build cash
More: rational basis review
Health or Life Insurance? Anong Dapat Unahin?
videos that will make you,wealthy and debt free,hi there justin also known as mr ching,positive thank you very much for,subscribing this channel thank you very,much for making it reach 900 000.,if you havent subscribed please do,click subscribe dont forget to click,the bell button subscribe,and this video at the same time will not,be possible if it wasnt for our friends,this video is brought to you by sunlight,philippines,125 years of being the filipinos,lifetime partner to a brighter future,visit sunlife.com.ph,to know more about their insurance and,investment products and follow at,sunlight ph on facebook twitter and,instagram,[Music],we are suffering what we call as a,health crisis,how much will it cost you when you get,sick of stroke stroke at least 1.8,million pesos,diagnosis treatment rehabilitation,at least,[Music],beneficiaries,in case of premature ending of a life of,a person no,purpose,or lets say pending medical expenses,to make sure to make sure just in case,i always tell people prevention is,better than cure okay it happened to me,uh in,2008 when when my wife gave birth to our,third and youngest child not gonna come,in and complications,after giving birth to cut the long story,short 21 days camiso hospital,now i see you chef one in seven days,comatose fun and seven days so um,[Music],as a medical expenses,right now were going to talk about the,advantages of life insurance number one,um,instant access to a large amount of,money just in case of a tragedy,viva and entered talaga benefiting life,insurance is flexible for you,some people will say its part of the,annuity,no no no yes i know its like the gustos,is part of our protection and second,life insurance,[Music],[Music],or life,you should be the judge,with regards to your personal finance,and your retirement pakis,well the good news is i have an online,course that will really open your mind,and teach you on how you can retire at,50. how to retire at 50.,life and health insurance is one of the,most important topics that is covered on,your retirement,ladies and gentlemen,you will retire broke and poor but if,you want to avoid that i suggest that,you check out my online course called,how to retire at 50 because in this,online course we will teach you on how,to invest and grow your money how to,invest your money in the stock market,mutual fund uitf property,form of investment at secessionato we,will also share with you on how you can,also protect yourself from scams,retirement money so if you are,interested to know more on how to retire,at 50 join me on my online course,mcconnell point investment your,investment in this course is only 799,pesos yes you heard it right 799. this,online course will open your mind so,that you will be able to retire early,and retire rich so if you want to be,part of this online course called how to,retire 50 type the word called retire,type the word called retire right now,inside your comment box after this,broadcast i will send you a link so that,youll be able to enroll and register,thank you very much for watching if you,like this video please click like on,this video and share this video with,other people,priority health insurance or life,insurance thank you very much this,chinkitan saying to every problem,theres always a solution if youre not,part of the solution youre part of the,problem always think positive get a,chance to win one of 125 celebration,packages and create lifetime memories,with your by subway email phil dash,marketing at sunlife.com with the,subject 125th celebration promo to know,more about the promo,[Music],thank you for watching if you want to,keep on growing and to stay inspired,subscribe and hit the bell button to get,notified always change positive,[Music]
Why Is Term Insurance Better Than Whole Life Insurance?[Music],natalie is with us in baltimore hi,natalie how are you,hi dave how are you better than i,deserve whats up,um well i was just tuning in to your,show not too long ago and you were,speaking about life insurance and how a,whole life has absolute junk,i never understood,how or why that is necessary or true um,okay i believed i believed that whole,life was better and i started out,seeking whole life and so i ended up,buying,a policy for each of my three kids and i,have a universal policy for my mom,and um,the policies i have for my three kids um,one is its called a whole attempt,where you pay it for 10 years and its,paid up,and so i did that with my oldest,daughter and she has a policy,its only 15 or 20 000 for her yeah yeah,its a standard standard policy the,reason you believe this is what you its,what youve been sold okay but lets,walk lets walk through it for a minute,okay,theres two kinds of insurance as you,mentioned theres cash value insurance,and theres term insurance,all right term insurance on average runs,about 1 20th,the cost,of whole life or cash value insurance in,other words you could have bought that,same policy instead of spending a,hundred dollars youd buy you a month or,whatever it was lets use 100 to be an,example then youd spend five dollars a,month,so what does the extra 95 dollars that,youre going to um what does it go to,okay well it goes to build up a savings,account inside the policy called cash,value does that sound familiar to you,yes and thats why you bought it because,you thought hey it builds up a cash,value thats awesome all right and here,heres the thing,the problem is not that the problem is,that the rules or the the the guidelines,that happen to what happens to the money,in the savings account,on average its making about one to one,and a half percent,horrible rate of return,number one,number two,if you want your money out of the policy,you either have to cancel the policy or,you have to borrow your own money now,you put the money in there,you put the money in there but when you,take it out on a loan you pay them,interest to borrow your money,well thats kind of stupid,yeah,you know you wouldnt take money out of,a savings account and borrow borrow it,from the bank you know and give them,interest to borrow your own money back,not if youre smart anyway,and then but the worth the worst part of,i mean the fees are really high the cash,value doesnt build up for many many,years but after two or three years,finally it does start building up so,its really heavy loaded fees on the,front end and and then the worst part,though is this you got a 15 000 policy,on this kid whats the cash value in one,of those,an example,im sorry i dont even know what i dont,even know what the cash value on any of,them are ill give you a guess ill give,you a guess lets say lets say its,five thousand dollars,if you close the policy that theyd get,five thousand dollars all right and,youve weve just established that,youve paid extra,for that five thousand dollars to be in,that policy so you have a savings,account inside that policy right,right you paid a lot more for this these,policies than you would have for the,same amount of term insurance a lot more,now so so that five thousand dollars is,in there its your money,the problem is this,if the person that the insurance is on,dies,they dont pay the 15 000 insurance plus,your savings,they pay the fifteen thousand insurance,what happened youre saving oh,its gone,and the only way you get,the only way you have a prepaid,insurance police are the only way you,have a 10 pay policy is that thats not,paid up it just means prepaid because,heres the deal if youre an insurance,company and you are issuing life,insurance as long as that person is,alive or as long as that policy is in,force,there is a cost to cover them because,there is a statistical probability of,their death,that after 10 years the statistical,probability of that persons death did,not go away right,so they still have a cost associated,with keeping that policy on the books,even though youve already got it paid,up,but all you did was just prepay it so,you double paid and triple paid to pay,in advance for many years to come,and thats how it gets paid up thats,the only way theres theres no such,thing as paid up insurance it just means,prepaid now they call it paid up because,thats the thats the phrase they want,to use so what would i do if i were in,your shoes,well if the people need life insurance,lets get life insurance on them make,sure the life insurance is there and,then i would close these policies,and now if theyre ill and cant get,life insurance then youre stuck,and you know youre theyre stuck in the,policy because their health situation,doesnt allow them to change because,theyve lost their health since they got,the policy but if they have a need for,life insurance and can get life,insurance then buy the life insurance to,replace it,and then cancel this stuff and put your,investments in something else that when,you die they dont keep your money,so you just dont want to go there its,just a really really bad place so thats,why its just inordinately expensive it,is one of the worst financial products,on the market today the car lease the,whole life life insurance policy and the,credit card are the three things that,are keeping the middle class in the,middle,and people just theyre theyre just,getting messed over i mean when you,crunch the numbers on any one of the,three of those things,it makes you go ballistic about how bad,they are about how rough the consumer is,being treated in every one of those,situations so,i i stay away from it i would only,suggest and for 25 years here on the,radio ive only suggested term life,insurance and ive never suggested,anyone lease a car and ive never,suggested someone get a credit card,because they hold you back causes you to,not win,i want you to win now obviously the,people in those industries dont like me,oh well ill have to live with that,oh darn,i really wasnt signing up to take a,poll here anyway,were just here helping folk and if you,you know and you know who else doesnt,like me will that be the title pawning,people and the ripoff payday loan people,because i tell people theyre the scum,of the earth,i mean not only youre ripping people,off but youre ripping poor people off,i mean because thats who play thats,who does title you know you notice that,payday lending is not the rich end of,town right,well they dont need it over there no,theyre too dead gum smart to do it,thats why theyre rich hello,so if youre just keep doing stupid poor,people stuff youll stay stupid and poor,i mean hey ive been there i know what,it looks like i did stupid now ive done,poor i know what it looks like actually,ive never been poor ive been broke,poor is a state of mind,but im not gonna live like that and im,not gonna continue to make the same,mistakes over and over and over again,then scratch my head and wonder why im,still broke so youve got to make,decisions on how youre going to live,and look around and say okay this is,what wealthy people are doing lets do,wealthy people stuff,and,you know theres a few wealthy people by,whole life because they get sold to crap,too but not very many,most of us i mean i gotta tell you in,the financial advising world in the,financial coaching world the financial,counseling world i dont know anybody,that recommends cash value insurance,except people who sell it,i cant find them theres no outside,people with a that dont have a conflict,of interest looking at it like me and,going no dave youre wrong you cant add,no i can add you keep somebodys money,after they save it for 20 years at death,theres no way thats a good return on,investment its just bad,and thats what this whole situation,comes down to,so those of you that dont like it you,dont like me oh well,i think ill be able to live with that,this is the dave ramsey show,hey guys thanks for watching if you,enjoyed this video click the subscribe,b
Top 5 insurance companies for 2020 | What makes them special?
hey guys mark Flockhart today were,gonna go through the top 5 insurance,companies in the US based off of three,major players were gonna use JD Power,as the primary were gonna use,reviews.com because they had thousands,and thousands and hundreds of thousands,of reviews and then were also going to,use a company called bank rate now bank,rate is a major player because they do a,lot of financial stuff and by doing that,they do a lot of insurance as well so,were gonna use their data you will be,very shocked on how different these,answers are between which companies were,the best and which ones werent that,just leads you to believe that youve,really got to get some advice from,friends family agents in your area,because once again each area is,different that you go into where,Michigan may have Allstate as the best,company this year it might be the,opposite in Florida where theyre the,worst ones so it really just depends on,your location your zone as theyre,calling it it used to be zip code but,now its territories so to speak so,lets dive right into it now the thing,is my camera is kind of messed up today,I couldnt get the audio working I got,like a cord I have tons of cord just,hanging out here so bear with me if you,like the video definitely give me a,thumbs up subscribe if you want to be,part of this advice channel that Im,giving for insurance but Im gonna be,looking to my left a lot because I,actually decided to hook it up to my,monitor so now hopefully the auto is,good I got my auto here my monitor yeah,okay well lets dive into it the first,thing Im gonna go through is and Im,gonna show you screenshots here is JD,power so theres some stuff that they,asked us in here that most people dont,see and Im gonna go through the top,couple companies with you specifically,and show you why they thought they were,the best so number five is state farms,theyre the largest player in this,entire industry of insurance right,through the u.s. they control the major,portion of the market if there was one,company thats standing on top of them,all thats gonna be State Farm theres,not really anything unique or specific,about them what they do is they pick,large areas that they want to control,and they drop the prices really really,low so they pull in a lot of business as,you guys saw and theres actually a,video I made that kind of mentioned it,but they had lost several billion,dollars a few years back that hurt him,pretty bad so they kind of stumbled and,got back up,theres still the largest guys theyre,still gonna be huge they really have a,huge control on the market they have,really good prices their agents are what,make them more successful theyre huge,with agents there are only exclusive so,youre not going to find a State Farm,agent selling safeco youre not going to,find a State Farm agent selling Triple A,where I work with Safeco Triple A,citizens Michigan insurance all those,guys like Ive got 17 companies that we,work with and Im not trying to sell you,guys on us or me because its not the,point of this whole channel but number,five is State Farm great large company,number four is Geico gecko is its own,animal theyre the online the digital,the kind of the tech huge commercials,theres not once again not anything,specific that sets them apart from,everybody its just a large company has,huge market rates these guys do more,commercials than anybody Ive ever seen,and it stands for a government employee,insurance company and what that is is,its changed so it used to be only for,government employees and now its kind,of opened up to the public its been,that way for several years in a long,time,but thats just where they came from,great company large company theyre very,hard to beat especially in some areas,some of those higher risk areas like,Florida some of those near Miami areas,they tend to come in more competitive so,thats kind of like a go-to place,theyre more of a standard company /,non-standard or non preferred company,where theyll take in a lot of different,business I am in Michigan and they dont,like to insure in Michigan Ive tried to,do a quote for you guys and Ill make,another video on that but let long story,short theyre kind of theyre making it,difficult extremely difficult to get a,well good company large companies,similar to a farm theyre more of an,online presence larger commercials they,advertise so naturally they get a lot,more business now this is mainly based,on customer satisfaction so they,actually got rated really well as far as,satisfaction goes as well so theyre not,just pulling people in the door they are,helping service them as well when,theres claims and things like that,number three is Erie insurance your,insurance you just dont hear a lot,about them theyre a lot like Geico,theyre very very similar to Geico big,online presence more digital kind of,like the younger groups thats really,just their size of a business,I didnt really see anything specific,also that sets them apart so in this,world car insurance is car insurance,theres not a whole lot to depict when,youre kind of getting into that,industry where its not really including,the home as much,yeah sure Geico is gonna be really good,for you eery insurance is gonna be good,for you and I say that not that they,dont do home its just in in some areas,they just havent touched that portion,of it theyre good in the auto industry,but not as great in the home industry,and this is the part where you guys can,help me because I dont do a lot of,eerie and maybe well do a video on them,I dont deal a lot with Erie Insurance I,almost never see them Im in Michigan so,its almost rare that we see them at all,I dont even think theyre in Michigan,let me know in the comments below what,state are you in,and if youre with Erie or guy Co do you,have your home insurance with them Im,very curious if you do if you do maybe,give us some details let us know where,they competitive not competitive have,you been with them for ten years two,years to kind of give us an idea of what,what experience you guys have had with,either Geico or Erie Insurance number,two and I put an asterisk next to this,is because there are two other companies,that were missing in this list and Ill,explain that here in just a moment but,this company is called country financial,Im gonna go in more depth with them,here in just a moment so if you want to,learn why theyre on top then were,gonna go through that and the number one,company which Im also going to go,through the reasons that theyre so big,and so great rated Corey rated and the,reason thats theyre so highly rated is,gonna be a mica insurance,I think its a mica or a backup Ive,never really heard anyone say it but,Ive heard of them theyre a very small,company to me even though they have a,large footprint but they just dont have,a lot of presence in Michigan although,they are one of the few companies that,has come close to the insurance price,that Im paying so also an option so the,two companies that are missing out of,this report which actually are beating,both all of these companies is gonna be,USAA and New Jersey manufacturers the,reason that theyre excluded from these,reports and this is from JD power is,that USAA is only government you have to,be a government person or have a family,member thats part of the government in,order to join them theyre a group,system so you cant get in the door,whatsoever however I will tell,you that Ive got a new guy that Im,training he just sold two policies save,the guy from USAA about $1,000 its not,thats every case of just telling ya,nobodys unbeatable right so USA a very,very good company they are one of my,favorite as far as a company goes as far,as like satisfaction Ive heard a lot of,good things about them theyre very,difficult to beat in price although this,year seems to be changing quite a bit,especially in Michigan and then the next,one was gonna be New Jersey,manufacturers and thats pretty obvious,they only do New Jersey there are a,group its company they on
MY 7 INSURANCE COVERAGES PHILIPPINES | All my life and health insurances | HMO, Permanent/Term Life
okay so in total i have seven insurance,coverages,[Music],hi everyone its charm again from ready,to go philippines a channel about,personal finance entrepreneurship and,adulting health tools,in the last two videos we have covered,the basics of life insurance thats life,insurance 101,and also how to go about getting one,yourself,the thought process behind it and if you,havent seen these two videos i will,link them up in the card so that you can,check them out after you watch this,video,for this week we will be capping off,this,supposedly one video idea that became,a three-part series about life insurance,with my insurance policies i will be,sharing my life insurances and my health,insurances as well,again as a disclaimer i am not a,financial advisor,i am not affiliated with any life,insurance,companies and this is not a sponsored,video,although insurance companies if you want,to reach out to me my email,is down below in the description so,yeah lets start the video,okay so i have seven insurances,or insurance coverages and i would be,listing them down in order of when i got,them,so the very first one is phic,thats my phil health insurance,corporation,and i have been paying for phil health,since i was,20 or 21 i cant exactly remember,but i think to average it because i,started out paying the minimum,i think i have been paying around four,to six thousand pesos a year now,and if youre not familiar with phil,health its basically the governments,health insurance and as an,employee you are required to remit every,month,so thats what ive been doing so,basically what it covers,is based on case rates this is a similar,system that the hmo follows,the rates that they cover,will differ on case-to-case basis like,what,illnesses what check-ups what hospitals,are covered,and you can check them out and the link,that i will put,down below for the full list of benefits,as a full health contributor,so yeah i wont dive too deep into that,because i think majority of the people,has fill health and i can cover it,more in a separate video next i will be,talking about my life insurances and,actually made,a table in my bullet journal and the,table basically,shows me the insurance policy name,when i have to pay for it like what,months my annual premium,my life coverage my accident rider,coverage,my critical illness coverage and how,much the fund,value is when i plan to retire,which as you guys know my retirement,goal is 45,and it has here the fun value,for when i take a holiday or without,holiday,so meaning of the holiday is if you have,10 year to pay insurance policies,you can actually stop paying for it for,10 years,because presumably the fund value,can pay for the insurances for the rest,of your life,now if you choose to put more money into,your vul,then your investment will obviously grow,but as i,mentioned in my previous video i would,actually,prefer to invest directly to funds,now as compared to something that is,linked with an insurance,because i found that it can be a little,bit more expensive,okay so the first one that i got was my,axa,life basics and i got it when i was 23,years old back in 2016.,so the annual premium for this is 27 000,and its a 15-year pay policy,so my life insurance coverage for this,or the death benefit,is 600 000 and this is covered until i,am,100 years old and this has a critical,illness rider of another 600 000 pesos,this covers me until 71 years old and,lastly,it has an accident rider that covers,1 million pesos until 70 years old,ok so this was invested in a fairly,moderate funds so with the premium,holiday that means i stopped paying,after 15 years im 38 years old by then,the fund value would be 450 000 pesos,and if i would continue paying seven,more years until im 45,by then the fund value would be 800 000,pesos,and again this is depending on how the,market performs,so this is just based on historical data,on how much their fund,grows so for this policy i pay it,quarterly thats 3 6 9 and 12.,so this was my very first vuls so as the,name suggests its very,basic its very broad so after two years,i got another,vul and thats the manual life affluence,builder,my annual premium for this is 51 050,pesos and,this is a 10-year pay insurance policy,and my life,coverage or death benefit is 250,000 pesos and i am covered until 74,years old,this doesnt have a critical illness,rider but my accident rider is another,250,000 pesos and i am covered for that,until im age 45.,so lets talk about this policy for a,bit i mentioned in my last video that i,made a mistake,of doing an aggressive vul,so basically as you can compare with my,axa,um the annual premium is almost double,the price,but the life insurance coverage,is less than half so thats because,majority of the money really goes to the,investment and not really the insurance,and later on i realized that i could,have just,easily opened a fund which i later on,did so i have a fund also with my new,life,i can talk about my investments in,another video,but basically i realized that it became,more expensive,because of that but because its an,aggressive vul,at age 45 the estimated fund value,is at 1.3 million and,thats with holiday meaning i will only,be paying for 10 years,so its definitely a higher fund value,because im also putting in more money,so i am paying this twice a year,but i have a promo with my credit card,that,the payment can be spread out to three,months,so instead of twice a year its,two quarters a year so ill be paying,january february march,and july august september okay,if that makes sense and thats because,of the city light,pay because i have the citibank credit,card,i will link down to good citibank credit,cards below if you guys,want to check that out its definitely,lighter because again the i know premium,is quite big so at least i can divide it,into sex payments so the next policy i,got it a year,after thats 2019 its the fwd,set for health so fwd is definitely,an up-and-coming life insurance company,but theyve been hitting the top 15 top,10 in the philippines and they are very,millennial friendly,their app is very good their websites,very good,theyre just very digital so i really,like that aspect,of fwd so the fwd set for health is a,whole life,insurance it doesnt have a fund value,or investment portfolio,so the annual premium is at 33 202,and that is a 10-year pay policy as well,and the life insurance coverage or death,benefit,covers 650 000 pesos up to age 75,and the critical illness can pay up to,three times,it has to be three different critical,illnesses they will,pay another 650 000 each time,so thats 650 000 times three possibly,and thats also until age 75 and this,doesnt have an accident rider,so the fun value for this when i hit 45,is around 200 000 pesos,so i pay for the fwd twice a year as,well,okay so if my axle was like a broad,basic life insurance,my manual life was geared towards the,investment,more and the fwd is geared towards the,health,more so the next one is also an,all-encompassing,broad life insurance and this is a whole,life insurance it also doesnt have a,fun,value or investment attachment to it,so this is the phil um aia all-in-one,insurance and i just got this this year,right before the lockdown actually,so the unknown premium for my filament,insurance is 54,589.77,pesos okay i think that already includes,my film vitality i will be talking about,that in a little bit,so this is a 20-year pay policy,the life coverage or death benefit of,this is at 2 million pesos and you are,covered up to 100 years old,the critical illness is also a 2 million,pesos but you are covered until 75,and the accident rider as well as 2,million pesos,until age 75. so the cash value for this,when i hit,45 is 774 000 pesos,so phil um also has this thing called,filam vitality,and what that basically is is that,it rewards you for being healthy,so for example you reach a certain,amount of steps a week or,a certain amount of workouts where they,can track your heart rate so you would,need a watc