May 25, 2022 • 16 mins
More about Regina Wagner
Regina Wagner is the Principal and Owner of Allthings Senior Consulting, LLC.
She is passionate about educating seniors so they can make the best and most informed decisions.With over 26 years in the senior insurance space, she has seen a lot and wants to help people avoid making costly and unnecessary mistakes.
Her 3 areas of specialty are Life Settlements, Long Term Care Planning, and Medicare.
Connect with Regina:
https://www.linkedin.com/in/regina-wagner-623b30176/
https://www.facebook.com/AllthingsSeniorConsulting
https://allthingsseniorconsulting.com/
Schedule time with Regina:
https://calendly.com/reginawagner
Your hosts: Colton Cockerell & Trisha Stetzel
Click for more about your hosts:
Colton Cockerell
Trisha Stetzel
More fun and interviews on our FB page!
https://www.facebook.com/bridgethegapinterviews
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Colton Cockerell (00:04):
Hello and welcome to a another exciting
episode of Bridge the Gap wherewe're balancing life through
health, wealth, business andrelationships.
Alright, hello everyone andwelcome to another exciting
episode. My name is ColtonCockerell and I have my partner
in crime with me on the showtoday, as always miss Trisha
(00:24):
Stetzel Trisha, how are youdoing? Hey
Trisha Stetzel (00:26):
guys, good Colton. I am so glad to be here.
As a reminder to all of ourlisteners this month on the
show, we're really focused onfamily and relationships. Today,
we're going to be talking aboutlife settlements. I know you're
like, what exactly does thatmean? Well, who better to talk
about this topic? Then my friendRegina Wagner with all things
senior consulting Regina,welcome to the show.
Regina Wagner (00:48):
Thank you so much, Tricia and Colton for
having me here. It's mypleasure.
Colton Cockerell (00:54):
Absolutely energy. And before we get
started, I want to two things.
First, I want to give a shoutout to our sponsor for this
episode. And that is resultsextreme business solutions for
all your business coachingneeds. And second, Tricia, I
would like for you just realquick. So I think it's so
important to give a briefbackground on Regina. And just
really where, why she's in thespot that she's in.
Trisha Stetzel (01:14):
Yeah, absolutely. Like I would give a
testimonial for this beautifulwoman any day of the week. And
as we talk about I wanteverybody to keep in mind as we
talk about these lifesettlements, where Regina is
actually coming from sheabsolutely believes in life
insurance policies. Her Why isjust amazing around her parents
(01:35):
and her siblings and what she'sbeen through, and how life
insurance a life insurancepolicy changed her life. And I
think that's really important.
As we talk through today, whatin the world is a life
settlement? And Regina, I'd likefor you to just kind of dive in.
And let's start with what in theworld is a life settlement?
Regina Wagner (01:58):
Absolutely. Thank you so much for that
introduction. Trisha. Everyone.
Again, my name is Regina Wagner,I am a senior insurance
specialist. And I have been inthe insurance space for 26
years. Every time I say that, Ithink to myself, wait a minute,
I don't feel older than 26. ButI want to start by letting your
audience know what a lifesettlement is. In short, a life
(02:22):
settlement is the sale of theexisting life insurance policy
they have. And the sale for morethan the cash value, but less
than the death benefit. What itdoes is it give policy owners an
opportunity to sell their policyfor significantly more than the
(02:43):
cash value offered by theirexisting carrier.
Trisha Stetzel (02:51):
So Regina, I'm sorry, Colton. I was just going
to tack on to that. Why in theworld? Would I want to sell my
life insurance policy, Regina?
Regina Wagner (02:58):
Oh, my goodness.
Let me start. I'm going toanswer that question. But let me
give you just a little bit ofhistory. Okay, life insurance
provides solutions for so manyfinancial needs, right. And I've
lost three siblings at youngages. I know what happens when a
young person passes awayunexpectedly. And they possess
(03:19):
life insurance or they own it.
And then I know what happens toa young person who passes
unexpectedly and they don't haveany. So you're not going to find
a a, a more committed oradvocate for life insurance than
myself. But to go to answer yourquestion, Trisha, people are
(03:44):
going to the sale. Because theoriginal need for the insurance
has changed. Seniors today areliving longer than their
spouses. They're living longerthan their adult children. And
yes, they're living longer thantheir savings. So those are just
(04:06):
some of the reasons that aperson would sell. Think about
term insurance. Term insurance,a person is having protection.
In the event something badhappens that is going to protect
their family, right. But it's a10 year term, a 20 year term, a
30 year term. When that termexpires, they've not met with a
(04:29):
person like Colton to help themput plans in place, there's a
good chance it's going to termand it's the price will
significantly go up right. Soyou can go from paying $1,300 a
year on a term to having a priceof over 30,000 or $12,000 a
(04:50):
year. So a policy can get to thepoint where it's unaffordable.
Or maybe someone sold one ofthem Old universal life policies
and it's not performing asprojected. So there's a lot of
reasons that it makes perfectsense to consider selling their
(05:11):
policy.
Colton Cockerell (05:12):
And for our, for our listeners out there who
are pretty versed with lifeinsurance, is there a difference
between a life settlement and aviatical? viatical? Yeah,
Regina Wagner (05:23):
yes, there is big differences, and so many, but
the basic fundamental differenceby articles came on the scene
when individuals were diagnosedwith a terminal illness, and so
viaticals are specifically for auninsured policy owner, that
(05:44):
have been given a certain amountof time. And so the viatical
started in that space. And theother thing that is, you know,
I'm concerned with on some ofthem, there's a, there's a, it
will fit a need for certainpeople. But the point on those
is that a lot of them can beowned by an individual investor.
(06:08):
And that's the concern for manypeople, whereas a life
settlement, it's owned byinstitutional organization, so
it's not going to be anindividual that is going to have
an interest in, in your deathbenefit.
Colton Cockerell (06:24):
Okay, and so with with the life and because I
know you're going to get it,it's so funny hearing you talk
about not funny, but Yeah, cuz Iknow how much you're so pro life
insurance. So but it makessense. I think so many people
get caught up with the mindsetof, hey, look, my kids are out
of school, they're 30, 40, 50years old, I My house is paid
off. I don't necessarily need mylife insurance right now.
(06:46):
Especially if you're in a bindif something comes up and you
need that you're strapped forcash, right? So I totally
understand. And like you said,needs do change throughout your
life. So So tell me kind of howdoes this work for a senior who
is like, you know, what, I don'tneed life insurance anymore. But
I need money for you know, longterm care, whatever it may be,
how does that work?
Regina Wagner (07:03):
Absolutely. In fact, you touched on something,
and we'll come back to the topuses of the proceeds, right? But
basically, it's really prettysimple. The policy will be
appraised. If a person and Iwork with financial advisors,
CPAs attorneys, anytime they'vegot clients that need liquidity,
(07:23):
then I recommend that they callme so that they can get that
policy appraised. You the theappraisal will will cover basics
about the policy right? Is it aterm? Is it a whole life? Is it
a universal life? So there'ssome fundamental information
that's gathered. Now let's justsay after it goes through the
(07:45):
appraisal period, that itqualifies for a cash offer?
Well, the policy owner gets tomake a decision. If they accept
that cash offer. If they acceptit, then there's going to be
documents that need to besigned, similar to closing on
your home when you sell yourhome. So there are going to be a
(08:06):
legal documents, everything isrecorded. All of that is very,
very aboveboard. And so oncethey've decided that they will
accept the cash offer, they gothrough what's kind of
considered like a closing. Andonce everything is signed by the
insured by beneficiaries, by theway, a lot of people don't know
(08:29):
this with life settlement, youdon't have to sell your entire
policy, you can have a $2million policy coltan and decide
to keep a half a million of itfor your spouse, or for your
adult child or charity. And thenyou sell the other 1.5 million,
a case study a couple of monthsago, where an individual had a
(08:53):
$2 million policy, theyliterally kept the half a
million for their air, and theysold the other and they walked
away with a check for $150,000.
And they can do what they want.
There are no strings attached tothe use. In fact, you had
touched on that about long termcare. The top reasons for
(09:15):
seniors needing liquidity, orlong term care costs like in
home care. We all know themajority of Americans would love
to age in place at home. Butsometimes they can't right. If
they start having memory issues.
They may have to go to a memorycommunity and I don't know what
region some of your listenersare coming from but in our
(09:38):
region a memory care is 8000 to$12,000 a month. In that amazing
so so that's long term careneeds medical cost and
treatment, sometimes therealternative treatment that's not
covered by your insurance.
There's financial planning andretirement Finding that people
(10:01):
use the funds for, for example,a coach and I know you work with
clients in this space. But whatif they want to have a
guaranteed income going to maybea special needs child, they can
do that, especially if they knowtheir health is compromised,
they can put something in placewith a financial advisor that
(10:23):
can set that loved one with astream of income that they can't
outlive. So those are just somethings they might want to pay
off debt payoff taxes, they maywant to create liquidity for
large purchases, like buyinganother business or buying a
business. We're finding seniorsare leaving the job market in
numbers that we can barely getour head around. Because things
(10:45):
are changing in corporatecorporations. But seniors still
have life in them, they stillwant to contribute to the
community. So they may buy abusiness but realize you need
$100,000 to buy that business.
They may use the proceeds totravel, they may decide that
they want to put a grandchild incollege. So there's a lot of
(11:06):
reasons they use the funds. Andthe most important thing I want
your audience to know is thatthere are no strings attached.
Once they accept the cash offerand a check is deposited in
their bank, they can do whateverthey want.
Trisha Stetzel (11:22):
Yeah, and Regina, you this really like
stoke the fire in in my brainwhen you and I were talking
about this a couple of weeksago, because I was not familiar
with life settlements. And Ifelt like having you on the
show, because we have so manylisteners who either are already
taking care of their seniorparents or they will be taking
(11:42):
care of a senior family memberand knowing that there are
options out there, no one'sforcing a hand and saying you
need to go sell your lifeinsurance policy so that you
have money. That's not it. It'sabout getting that appraisal and
making the right decision foryou and your family. And maybe
being able to stay at home withthat caregiver is the right
(12:03):
decision. And I think that is soimportant. Here's the thing that
I want you to tell us, mymathematician friend, you have
some stats and some numbersabout life insurance policies.
Can you just throw those outthere at our audience? Oh,
Regina Wagner (12:16):
when I gained certification and advanced
studies, this is a statistic$700 billion in life insurance
goes unclaimed or surrendered ina year. Think about that for a
moment. $700 billion and 100billion of that are seniors life
(12:38):
insurance going unclaimed. Sothat's a pretty phenomenal
number to think about you getyour head around.
Colton Cockerell (12:46):
And let me let me ask you this since we do have
limited time, because I'm verycurious, how do you qualify for
a life settlement? Because Ithink that's such an important
thing to understand.
Regina Wagner (12:56):
That is easy. I mean, literally in one sentence.
The qualifications are forinsured over 65 living in the
United States are younger than65. If but have healthier
implications. Something to thinkabout is the cash offer gets
(13:23):
higher, the closer or person'sage is to life expectancy Colton
Patricia. So again, thequalifications is just simply
that simple and insured over 65Are their younger withheld them
implications.
Colton Cockerell (13:39):
And so then that's in that I'm assuming
that's how term policies haveand I'm saying this in air
quotes have a cash value when itcomes to left settlements. And
that's basically their, theirbanking that the person is going
to pass away before the term. Isthat correct?
Regina Wagner (13:52):
Yes. There's a couple of things going on.
Specifically, if we're referringto a term policy, remember, Tom
policies have no cash value,right? Exactly. What generally
happens is the financial advisorfor that policy owner is going
to help them convert that terminto a permanent plan. Okay. And
(14:14):
then again, based on thatperson's very specifics that
give it value, how old thatperson is, how close are they to
life expectancy, expectancy,that's going to dictate and
determine the cash offer. So Iwas blown away, let me share
something with you. I had noidea a person could sell a term
(14:35):
policy, had no idea at all. Sothink about it if you're going
to either surrender that policybecause it's become
unaffordable, or you no longerneed it, or you can literally
walk away with10,000 20,000 50,000. The other
thing on qualifications that Ididn't mention is you have to
have a policy face amount of$100,000. That's the minimum or
(14:59):
you Beware over $12 million.
That just to give you an idea ofthe qualifications, I want to
share something I know we'recoming to an end. But in my
opinion, for those that are 65and older, they absolutely
should have their life insurancepolicies appraised, especially
when there's a surrender or alapse being considered.
Trisha Stetzel (15:22):
I think we you covered so much ground here.
Regina, thank you so much forcoming on the show with us
today. What a really compellingtopic, right and something that
we should all be thinking about,especially if we have seniors in
our lives that are potentiallystrapped for cash, or they've
had a life chain right andsomething else could do them
(15:43):
better.
Colton Cockerell (15:43):
So Regina, thank you so much for being on
the show today. We reallyappreciate Avenue.
Regina Wagner (15:47):
You are very welcome. I just applaud Trisha
you and Colton, for having thisvery important topic and having
an open for discussion becausepeople are looking for options
and solutions and you guys aremaking this information
available. I commend you,
Colton Cockerell (16:04):
for she is the sweetest.
Trisha Stetzel (16:07):
Right I know that's why we have her on the
show. Regina, thank you so muchfor being with us today. For
those of you who would like toreach out to Regina please check
the comments below. All of hercontact information will be
there as well as in this shownotes so that you can connect
with her by phone, email, oreven social media. And I invite
all of you to tune in next weekfor another exciting episode of
(16:29):
bridge the gap. And next month,we will again be focused on
health and wellness.
Colton Cockerell (16:36):
Thanks again for tuning into this week's
podcast. Don't forget tosubscribe and share this podcast
with the most important peoplein your life. Colton Cockerell
with Sharer McKinley Group, LLCis located at 820 South
Friendswood Drive Suite 207Friendswood, Texas 77546 phone
number to 281-992-5698.
Securities and investmentadvisory services offered
through NEXT Financial Group,Inc. member FINRA/SIPC Sharer
McKinley Group is not anaffiliate of NEXT Financial
(16:56):
Group, Inc.
Hello and welcome to a another exciting
episode of Bridge the Gap wherewe're balancing life through
health, wealth, business andrelationships.
Alright, hello everyone andwelcome to another exciting
episode. My name is ColtonCockerell and I have my partner
in crime with me on the showtoday, as always miss Trisha
(00:24):
Stetzel Trisha, how are youdoing? Hey
Trisha Stetzel (00:26):
guys, good Colton. I am so glad to be here.
As a reminder to all of ourlisteners this month on the
show, we're really focused onfamily and relationships. Today,
we're going to be talking aboutlife settlements. I know you're
like, what exactly does thatmean? Well, who better to talk
about this topic? Then my friendRegina Wagner with all things
senior consulting Regina,welcome to the show.
Regina Wagner (00:48):
Thank you so much, Tricia and Colton for
having me here. It's mypleasure.
Colton Cockerell (00:54):
Absolutely energy. And before we get
started, I want to two things.
First, I want to give a shoutout to our sponsor for this
episode. And that is resultsextreme business solutions for
all your business coachingneeds. And second, Tricia, I
would like for you just realquick. So I think it's so
important to give a briefbackground on Regina. And just
really where, why she's in thespot that she's in.
Trisha Stetzel (01:14):
Yeah, absolutely. Like I would give a
testimonial for this beautifulwoman any day of the week. And
as we talk about I wanteverybody to keep in mind as we
talk about these lifesettlements, where Regina is
actually coming from sheabsolutely believes in life
insurance policies. Her Why isjust amazing around her parents
(01:35):
and her siblings and what she'sbeen through, and how life
insurance a life insurancepolicy changed her life. And I
think that's really important.
As we talk through today, whatin the world is a life
settlement? And Regina, I'd likefor you to just kind of dive in.
And let's start with what in theworld is a life settlement?
Regina Wagner (01:58):
Absolutely. Thank you so much for that
introduction. Trisha. Everyone.
Again, my name is Regina Wagner,I am a senior insurance
specialist. And I have been inthe insurance space for 26
years. Every time I say that, Ithink to myself, wait a minute,
I don't feel older than 26. ButI want to start by letting your
audience know what a lifesettlement is. In short, a life
(02:22):
settlement is the sale of theexisting life insurance policy
they have. And the sale for morethan the cash value, but less
than the death benefit. What itdoes is it give policy owners an
opportunity to sell their policyfor significantly more than the
(02:43):
cash value offered by theirexisting carrier.
Trisha Stetzel (02:51):
So Regina, I'm sorry, Colton. I was just going
to tack on to that. Why in theworld? Would I want to sell my
life insurance policy, Regina?
Regina Wagner (02:58):
Oh, my goodness.
Let me start. I'm going toanswer that question. But let me
give you just a little bit ofhistory. Okay, life insurance
provides solutions for so manyfinancial needs, right. And I've
lost three siblings at youngages. I know what happens when a
young person passes awayunexpectedly. And they possess
(03:19):
life insurance or they own it.
And then I know what happens toa young person who passes
unexpectedly and they don't haveany. So you're not going to find
a a, a more committed oradvocate for life insurance than
myself. But to go to answer yourquestion, Trisha, people are
(03:44):
going to the sale. Because theoriginal need for the insurance
has changed. Seniors today areliving longer than their
spouses. They're living longerthan their adult children. And
yes, they're living longer thantheir savings. So those are just
(04:06):
some of the reasons that aperson would sell. Think about
term insurance. Term insurance,a person is having protection.
In the event something badhappens that is going to protect
their family, right. But it's a10 year term, a 20 year term, a
30 year term. When that termexpires, they've not met with a
(04:29):
person like Colton to help themput plans in place, there's a
good chance it's going to termand it's the price will
significantly go up right. Soyou can go from paying $1,300 a
year on a term to having a priceof over 30,000 or $12,000 a
(04:50):
year. So a policy can get to thepoint where it's unaffordable.
Or maybe someone sold one ofthem Old universal life policies
and it's not performing asprojected. So there's a lot of
reasons that it makes perfectsense to consider selling their
(05:11):
policy.
Colton Cockerell (05:12):
And for our, for our listeners out there who
are pretty versed with lifeinsurance, is there a difference
between a life settlement and aviatical? viatical? Yeah,
Regina Wagner (05:23):
yes, there is big differences, and so many, but
the basic fundamental differenceby articles came on the scene
when individuals were diagnosedwith a terminal illness, and so
viaticals are specifically for auninsured policy owner, that
(05:44):
have been given a certain amountof time. And so the viatical
started in that space. And theother thing that is, you know,
I'm concerned with on some ofthem, there's a, there's a, it
will fit a need for certainpeople. But the point on those
is that a lot of them can beowned by an individual investor.
(06:08):
And that's the concern for manypeople, whereas a life
settlement, it's owned byinstitutional organization, so
it's not going to be anindividual that is going to have
an interest in, in your deathbenefit.
Colton Cockerell (06:24):
Okay, and so with with the life and because I
know you're going to get it,it's so funny hearing you talk
about not funny, but Yeah, cuz Iknow how much you're so pro life
insurance. So but it makessense. I think so many people
get caught up with the mindsetof, hey, look, my kids are out
of school, they're 30, 40, 50years old, I My house is paid
off. I don't necessarily need mylife insurance right now.
(06:46):
Especially if you're in a bindif something comes up and you
need that you're strapped forcash, right? So I totally
understand. And like you said,needs do change throughout your
life. So So tell me kind of howdoes this work for a senior who
is like, you know, what, I don'tneed life insurance anymore. But
I need money for you know, longterm care, whatever it may be,
how does that work?
Regina Wagner (07:03):
Absolutely. In fact, you touched on something,
and we'll come back to the topuses of the proceeds, right? But
basically, it's really prettysimple. The policy will be
appraised. If a person and Iwork with financial advisors,
CPAs attorneys, anytime they'vegot clients that need liquidity,
(07:23):
then I recommend that they callme so that they can get that
policy appraised. You the theappraisal will will cover basics
about the policy right? Is it aterm? Is it a whole life? Is it
a universal life? So there'ssome fundamental information
that's gathered. Now let's justsay after it goes through the
(07:45):
appraisal period, that itqualifies for a cash offer?
Well, the policy owner gets tomake a decision. If they accept
that cash offer. If they acceptit, then there's going to be
documents that need to besigned, similar to closing on
your home when you sell yourhome. So there are going to be a
(08:06):
legal documents, everything isrecorded. All of that is very,
very aboveboard. And so oncethey've decided that they will
accept the cash offer, they gothrough what's kind of
considered like a closing. Andonce everything is signed by the
insured by beneficiaries, by theway, a lot of people don't know
(08:29):
this with life settlement, youdon't have to sell your entire
policy, you can have a $2million policy coltan and decide
to keep a half a million of itfor your spouse, or for your
adult child or charity. And thenyou sell the other 1.5 million,
a case study a couple of monthsago, where an individual had a
(08:53):
$2 million policy, theyliterally kept the half a
million for their air, and theysold the other and they walked
away with a check for $150,000.
And they can do what they want.
There are no strings attached tothe use. In fact, you had
touched on that about long termcare. The top reasons for
(09:15):
seniors needing liquidity, orlong term care costs like in
home care. We all know themajority of Americans would love
to age in place at home. Butsometimes they can't right. If
they start having memory issues.
They may have to go to a memorycommunity and I don't know what
region some of your listenersare coming from but in our
(09:38):
region a memory care is 8000 to$12,000 a month. In that amazing
so so that's long term careneeds medical cost and
treatment, sometimes therealternative treatment that's not
covered by your insurance.
There's financial planning andretirement Finding that people
(10:01):
use the funds for, for example,a coach and I know you work with
clients in this space. But whatif they want to have a
guaranteed income going to maybea special needs child, they can
do that, especially if they knowtheir health is compromised,
they can put something in placewith a financial advisor that
(10:23):
can set that loved one with astream of income that they can't
outlive. So those are just somethings they might want to pay
off debt payoff taxes, they maywant to create liquidity for
large purchases, like buyinganother business or buying a
business. We're finding seniorsare leaving the job market in
numbers that we can barely getour head around. Because things
(10:45):
are changing in corporatecorporations. But seniors still
have life in them, they stillwant to contribute to the
community. So they may buy abusiness but realize you need
$100,000 to buy that business.
They may use the proceeds totravel, they may decide that
they want to put a grandchild incollege. So there's a lot of
(11:06):
reasons they use the funds. Andthe most important thing I want
your audience to know is thatthere are no strings attached.
Once they accept the cash offerand a check is deposited in
their bank, they can do whateverthey want.
Trisha Stetzel (11:22):
Yeah, and Regina, you this really like
stoke the fire in in my brainwhen you and I were talking
about this a couple of weeksago, because I was not familiar
with life settlements. And Ifelt like having you on the
show, because we have so manylisteners who either are already
taking care of their seniorparents or they will be taking
(11:42):
care of a senior family memberand knowing that there are
options out there, no one'sforcing a hand and saying you
need to go sell your lifeinsurance policy so that you
have money. That's not it. It'sabout getting that appraisal and
making the right decision foryou and your family. And maybe
being able to stay at home withthat caregiver is the right
(12:03):
decision. And I think that is soimportant. Here's the thing that
I want you to tell us, mymathematician friend, you have
some stats and some numbersabout life insurance policies.
Can you just throw those outthere at our audience? Oh,
Regina Wagner (12:16):
when I gained certification and advanced
studies, this is a statistic$700 billion in life insurance
goes unclaimed or surrendered ina year. Think about that for a
moment. $700 billion and 100billion of that are seniors life
(12:38):
insurance going unclaimed. Sothat's a pretty phenomenal
number to think about you getyour head around.
Colton Cockerell (12:46):
And let me let me ask you this since we do have
limited time, because I'm verycurious, how do you qualify for
a life settlement? Because Ithink that's such an important
thing to understand.
Regina Wagner (12:56):
That is easy. I mean, literally in one sentence.
The qualifications are forinsured over 65 living in the
United States are younger than65. If but have healthier
implications. Something to thinkabout is the cash offer gets
(13:23):
higher, the closer or person'sage is to life expectancy Colton
Patricia. So again, thequalifications is just simply
that simple and insured over 65Are their younger withheld them
implications.
Colton Cockerell (13:39):
And so then that's in that I'm assuming
that's how term policies haveand I'm saying this in air
quotes have a cash value when itcomes to left settlements. And
that's basically their, theirbanking that the person is going
to pass away before the term. Isthat correct?
Regina Wagner (13:52):
Yes. There's a couple of things going on.
Specifically, if we're referringto a term policy, remember, Tom
policies have no cash value,right? Exactly. What generally
happens is the financial advisorfor that policy owner is going
to help them convert that terminto a permanent plan. Okay. And
(14:14):
then again, based on thatperson's very specifics that
give it value, how old thatperson is, how close are they to
life expectancy, expectancy,that's going to dictate and
determine the cash offer. So Iwas blown away, let me share
something with you. I had noidea a person could sell a term
(14:35):
policy, had no idea at all. Sothink about it if you're going
to either surrender that policybecause it's become
unaffordable, or you no longerneed it, or you can literally
walk away with10,000 20,000 50,000. The other
thing on qualifications that Ididn't mention is you have to
have a policy face amount of$100,000. That's the minimum or
(14:59):
you Beware over $12 million.
That just to give you an idea ofthe qualifications, I want to
share something I know we'recoming to an end. But in my
opinion, for those that are 65and older, they absolutely
should have their life insurancepolicies appraised, especially
when there's a surrender or alapse being considered.
Trisha Stetzel (15:22):
I think we you covered so much ground here.
Regina, thank you so much forcoming on the show with us
today. What a really compellingtopic, right and something that
we should all be thinking about,especially if we have seniors in
our lives that are potentiallystrapped for cash, or they've
had a life chain right andsomething else could do them
(15:43):
better.
Colton Cockerell (15:43):
So Regina, thank you so much for being on
the show today. We reallyappreciate Avenue.
Regina Wagner (15:47):
You are very welcome. I just applaud Trisha
you and Colton, for having thisvery important topic and having
an open for discussion becausepeople are looking for options
and solutions and you guys aremaking this information
available. I commend you,
Colton Cockerell (16:04):
for she is the sweetest.
Trisha Stetzel (16:07):
Right I know that's why we have her on the
show. Regina, thank you so muchfor being with us today. For
those of you who would like toreach out to Regina please check
the comments below. All of hercontact information will be
there as well as in this shownotes so that you can connect
with her by phone, email, oreven social media. And I invite
all of you to tune in next weekfor another exciting episode of
(16:29):
bridge the gap. And next month,we will again be focused on
health and wellness.
Colton Cockerell (16:36):
Thanks again for tuning into this week's
podcast. Don't forget tosubscribe and share this podcast
with the most important peoplein your life. Colton Cockerell
with Sharer McKinley Group, LLCis located at 820 South
Friendswood Drive Suite 207Friendswood, Texas 77546 phone
number to 281-992-5698.
Securities and investmentadvisory services offered
through NEXT Financial Group,Inc. member FINRA/SIPC Sharer
McKinley Group is not anaffiliate of NEXT Financial
(16:56):
Group, Inc.
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