Blog

As we age, get married, have children, become our parents’ caretakers, and transition through the chapters of life, life insurance increases in importance. In fact, depending on the type of policy, here in Glendora (and surrounding areas), life insurance is fairly cheap, particularly the earlier you get it. Therefore, there is no excuse why one, with dependents and a family, doesn’t have coverage. It should be a fundamental part of your financial plan and a necessary element to protecting your dependents and loved ones in the event of your passing.

As a Glendora life insurance agent I’ve met many families grateful for having coverage after their loved ones have passed, and conversely, many who wish they had obtained coverage sooner. To shed some light on the importance of life insurance, here are 5 reasons you should obtain coverage from your…

Glendora Life Insurance Agent:

1) Do you have or plan on having dependents?

If you have someone financially relying on your income, such as a child, parent, or spouse, then life insurance is a must as it replaces your income when you die. In particular, if you’re a parent of young children or the main provider in your household, then coverage is essential. Side note, to find out how much life insurance you’ll need to replace your income and how affordable it is to protect and continue to provide for your dependents even after you die, contact us at 626.818.8987.

2) Do you wish to leave an inheritance?

Although many wish to leave an inheritance for their loved ones, they can’t if they don’t have the assets to pass to their heirs. So what can they do? They can obtain life insurance and name their heirs as their beneficiaries. This essentially provides an inheritance and sets up their loved ones for financial success.

3) Do you want to help your family cover outstanding debts after your passing?

Losing a loved one is difficult and can leave an emotional burden on your family as they attempt to ease their loss. Therefore, the last thing they need during such trying times is added financial burden. Outstanding debts, such as credit cards, car loans, and/or mortgages, as well as funeral and burial expenses costing upwards of tens of thousands of dollars, can place your family in financial hardship, in particular if they’re one income short. Prevent the risk; protect your family with life insurance.

Think about it…

Do you or your spouse have any student loans?

Sunny California is a wonderful state to live in. However, it comes with a downfall. We live in a community state. Therefore, if your spouse dies, you may be liable for their debts and vice versa. So if either of you have any private student loans and one dies, regardless whether you are a co-signer or not, the other will be responsible for that debt.

Do you or your spouse have housing expenses (i.e. rent or a mortgage)?

When you and your spouse share a home, either one or the both of you, are responsible to pay the mortgage or rent. Accordingly, you must ask yourself whether each of you can afford the housing expense on your individual incomes. If you can’t, then life insurance is a must.

4) Do you want to maintain a particular lifestyle?

Eliminating an income source due to death can immediately halt a lifestyle you’re both accustomed to. Therefore, reduce the fear of the unknown and the question of how your family will financially survive with one less income by obtaining life insurance to cover their everyday living expenses.

5) Do you want to add more financial security?

Like most parents, you probably want to know your kids will be well taken care of when you’re gone. You not only want to cover for their everyday expenses (i.e. food, clothing, shelter), but you want to provide them with a quality college education, and perhaps help them one day get married, start a business, and/or buy their first home. For this reason, coverage is essential while your kids are still at home.

While we don’t know when we’ll pass, we do know we can continue to provide for and protect our loved ones afterwards. Don’t fall into the statistics. According to one study, “91% of widows lose everything in the first twelve months after their husband’s death…Houses, cars, education for kids, their entire lifestyle is forced to change.” Make sure your family is not part of the statistics. Gain peace of mind by getting life insurance coverage, and continuing to help take care of your loved ones when you’re gone.

To learn more about life insurance coverage and other programs, please contact OAK Insurance Solutions.
CALL) 626.775.7850
TEXT) 626.818.8987
EMAIL ME HERE

Note from OAK Insurance Solutions’ founder, Michael Martinez:

On behalf of OAK Insurance Solutions, we take this opportunity to recognize our LGBTQ customers, agents, and employees as we celebrate and strive to promote diversity and recognition of human rights for the LGBTQ community all year round.

LGBTQ Community Increasing West Hollywood’s Home Values
& Impacting Insurance Coverage

OAK Insurance Solutions saved this couple 30% on car insurance and placed them in their first home insurance policy as well as life insurance! The newly married couple tune-up!

We are excited to report that a recent survey conducted by Trulia and OKCupid has suggested that “pride neighborhoods” have stronger real estate markets and higher home values compared to their non-gay counterparts. The report further indicates that our own, West Hollywood, has ranked the highest “pride score” in the nation. 

What does this mean? It means that West Hollywood not only is an incredible place to live in, but if you’re a homeowner, your pride should extend to your real estate life as well. In addition to valuing at a higher premium, homes in these LGBTQ neighborhoods recover at a faster rate than non-gay neighborhoods at times of real estate crisis.

The data also suggests that West Hollywood is ranked #1 in “pride score” because it has the highest rate of singles looking for same-sex partners (47.5%) and households with same-sex couples (27.6%). Correspondingly, the home values in this (and other gay neighborhoods) are seeing an increase of 36.8% in their “average home value per square foot” and an increase in homebuyers looking to purchase.  

LGBTQ Impact on Insurance Coverage

From an insurance perspective on these findings, we’d like to point out the following…although a property’s market value does not have a bearing on your insurance coverage, it can however, on your cost to rebuild. Insurance agencies calculate coverage not on a home’s value (as Realtors and tax assessors do), but rather on what it would cost to rebuild a similar home under the same quality with either replacement or actual cost coverage (with the latter factoring in depreciation).

That said, you should take an opportunity to review your insurance plan because the cost to rebuild may have changed as a correlation to the rising home values. For instance, factoring in construction and building material costs, it may cost more to rebuild your home now compared to the past.

Data from Engineering News Record also is confirming that construction and material costs are rising. Therefore, with the rise in costs, you may need to upgrade your coverage to avoid a situation where you’re in need of exercising your insurance plan, but your payout won’t meet today’s costs.  

To decipher if your coverage is adequate, contact OAK Insurance Solutions for an insurance review. You may just learn that you qualify for newly introduced discounts, savings, or bundling options that will lower your insurance costs!

In short, Trulia is indicating that although further research should be conducted in this area, it may be appearing as though gay residents can cause a neighborhood’s value to rise. But, we already knew the value of “gay residents,” so Trulia, tell us something we don’t know. For now, we are celebrating because Trulia not only is presenting the fabulousness of our LGBTQ residents, but West Hollywood homeowners may be gaining more equity faster than other neighborhoods.

As Southern California’s trusted insurance agency, again…we’d like to send out a quick reminder to make sure your homeowner’s insurance policy is up-to-date!.

To confirm your policy is up-to-date, as well as whether you are receiving the highest protection at the best rate, contact OAK Insurance Solutions, your LGBTQ-Friendly insurance agency, for an insurance check-up at 626-775-7850.

OAK Insurance Solutions | Supporting the LGBTQ Community

We are proud to take a proactive stance in supporting our LGBTQ community, providing quality insurance coverage and service, as well as personally being sensitive to the realities of life for our LGBTQ customers, employees, and individuals. To learn more about OAK Insurance Solutions, contact:

CALL) 626.775.7850
TEXT) 626.818.8987
EMAIL ME HERE 

We saved them 30% on car insurance and placed them in their first home and life insurance policies & we can help you too!

Call Us & Find Out How Much You Can Save in Insurance!

(626) 775-7850

As a business consultant helping loan officers with their sales and marketing, as well as a local insurance agent, I work with loan officers, borrowers, and homeowners. Accordingly, I truly understand how stressful the real estate/mortgage industry can be. I know, that as a loan officer, on one hand you have to originate leads and on the other you have to find loan programs that not only meet your borrowers’ needs and wants, but also those they can qualify for based on their credit, DTI, LTV, and so forth. That can be a lot of pressure. On top of it, even after submitting a strong package, the underwriter can condition for additional items, the rate can change, and closings may not go as expected. All it takes is for one hiccup to create great obstacles, frustrated borrowers, and loan fall-outs. For example, what happens when your rate increases prior to the lock or after its expiration? Or what if the borrowers’ debt increases? Or how about if the underwriter calculates the income lower than you/processor initially calculated? The slightest increase in DTI can potentially disqualify the loan.

So what can you do? How can you originate and close more loans?

The answer is pretty simple: Identify your audience, demonstrate your expertise and value, and place your borrowers in stronger financial situations.

Identify your Audience

Marketing 101, choose your target audience. If you’re the type of loan officer that says “I can help everyone,” while that may be true, the fact is, it’s diluting your marketing efforts. Rather, choose a narrower audience such as new home buyers or refinance customers. At least for campaign purposes focus on one group. You can narrow this down even further. In terms of refinance customers, you can target borrowers who are rate-sensitive, have bad credit, desire cash-out, wish to combine their first and seconds, are veterans, etc. Likewise, home buyers may include first-time buyers with little to no down-payment, move-up buyers, investors, jumbo buyers, etc. The goal is to narrow down to your exact audience and identify what single message they want to hear. Then you should create and tailor such a marketing message to them.

Demonstrate your expertise and value

In terms of a “marketing message,” the objective is to demonstrate your credibility, expertise, and value to this particular audience via the channels that reach them. Therefore, first establish what solution you plan to provide for this audience. For example, are they borrowers with bad credit looking to refinance? If so, you can provide tips on how one can improve their credit. Similarly you can show how one can pull cash-out to pay off debt and improve their credit, and subsequently refinance into a lower rate. Or let’s say your audience is comprised of first-time home buyers. If that’s the case, then you can provide resources to grants/down payment assistance programs, create awareness about high loan programs permitting higher LTVs, and/or sharing tips on how one can save for a down payment. It’s all about providing value and demonstrating your expertise.

Leverage your industry partners (i.e. Insurance Agents) to help provide your clients value and grow your business

As you’ve most likely seen, the lending/real estate industry can have lots of opportunities for cross-promoting and co-networking. For instance, let’s say your audience requires additional cash flow to pay down debt to improve their credit or save for a down payment; as an insurance agent, I can help. Here at Oak Insurance Solutions, we offer a range of insurance programs (i.e. homeowners, life, property, auto, business, workers comp, group health, and more). Therefore, we can help loan officers help their clients…

• Reduce their insurance payments and subsequently increase their cash flow to pay off debt and/or start saving for a down payment.
• Take advantage of such assets as their life insurance policies to expedite paying off debt and acquiring a down payment.
• Reduce their Debt-To-Income ratio by reducing the second “I” in “PITI”. To help you qualify more borrowers and obtain more approvals, we can reduce your borrowers’ insurance payments (while meeting the minimum insurance requirements) and subsequently reduce your borrowers’ total monthly mortgage payment. Not only does this help for qualifying purposes, but since your borrowers’ total mortgage payment will be lower than expected, you will also look extra good to your borrower, thus encouraging more referrals.

In short, we know how important it is to close your loans and originate more, therefore, we not only are another local insurance agency, but rather, want to show you how we can be your partner. As a loan officer, by sharing such things as mentioned above, you can demonstrate your expertise. You can further communicate such value to your audience by:

• Sharing these tips via social media channels your audience uses.
• Providing search engine optimized content on your website based on the words/phrases your audience searches for.
• Remaining top of mind with consistent email campaigns.
• Networking offline.
• Taking advantage of sending out mailers with other cross-promotional partners to cut costs or using programs such as EDDM.

Originating and closing more loans is not achieved overnight. In time though, such suggestions as identifying your audience, offering them value, leveraging your insurance agent to help expand and expedite results, as well as communicating a message that places them in a better financial situation via the channels that best reach them…can build you a well-known brand and a growing pipeline of borrowers.

As a preferred, local insurance agent, we’re more than just an “insurance agency.” We want to be your solution to help you originate and close more loans. We want to be your partner and help you, help your borrowers improve their financial situations. We want to help you reduce your borrowers’ financing risk in order to prevent any loan obstacles that can arise. We want to help demonstrate your expertise, credibility, and value to your leads so when they are ready to commit, they already trust and know you’re the one for the job.

Allow us to prove to you, how we can be of value. Do you have any loans in your pipeline in need of homeowners insurance? Call, text, or send us an email, whatever is easier for you!

CALL) 626.775.7850
TEXT) 626.818.8987
EMAIL ME HERE

Thank you in advance,

Meet Michael Martinez, OAK Insurance Solutions founder…

Hi!

My name is Michael Martinez and I’m the founder of Oak Insurance Solutions! Before you ask, what’s this guy’s infatuation with Oak trees, please allow me to explain…

Oak Insurance is actually named after my daughters, Olivia and Ava; as well as my wife, Kristen.

You see, these three ladies mean the world to me. They are my everything.

Therefore, as a result of my frustration with dishonest and over-priced insurance agencies and rates, I decided to create a local business that not only offers our communities with honest service, great rates, and quality insurance solutions, but it’s named after my loves: (O)livia + (A)va + (K)risten = OAK.

OAK Insurance Solutions is more than just another insurance company. I wanted to bring forth something that when residents of Glendora, San Dimas, Azusa, La Verne, and surrounding areas, think insurance, they think Michael Martinez of Oak Insurance Solutions is “The Insurance Guy”.

Although I’m 100% Cuban and speak fluent Spanish, I’m a first generation, born in the United States. I grew up and have lived in Glendora all my life; in fact, both my wife and I did. Accordingly, OAK Insurance is my way of using my knowledge and expertise to give back to the community. It’s my way to help my neighbors prepare for life’s roads ahead with affordable and protective insurance solutions – from property and workers compensation insurance to auto insurance, home insurance, life insurance, group health insurance, and everything in between.

This pursuit about being a true part of the community is instilled in our entire family. Kristen, for instance, is a teacher at Goddard, one of Glendora’s incredible middle schools.

From the time I met her in middle school, I knew she’d make a great teacher. On a side note, we weren’t dating in middle school. Although we were close friends in middle and high school, we didn’t start dating until 2005 in college, and then got married five years later.

She’s always had a way with kids. Broke my heart when for a moment we questioned whether we could ever have children. Becoming pregnant was one of the most challenging obstacles in our life. But as they say, “The greater the obstacle, the more glory in overcoming it.”

Then in 2013, I received the greatest birthday present a father can ask for…my daughter, Ava, was born. A few years later, I was blessed once again, and Olivia entered into the world.

The sacrifices these three little ladies have made and the opportunities our town has presented, has motivated me to launch Oak Insurance Solutions for you. If you or anyone you know are in need of insurance or a lower rate, please don’t hesitate to ask for an estimate. I love our town, I love taking care of people, and I love being a local business owner.

Feel free to call, text, or send me an email.

For a quote, contact:
CALL) 626.775.7850
TEXT) 626.818.8987
EMAIL ME HERE

Thank you in advance,

Save

Daylight savings time has officially ended. Have you set back your clocks one hour? This potentially means an extra hour of sleep, as long as the kids and pups don’t catch on to the time change and continue to sleep in. (Note to self, as long as time can fall back one hour, what will it take to fall back a few years? Or how about the scale? Thanksgiving is right around the corner. Potential topics for an upcoming blog? Hmmm…)

With the time change, expect shorter days and longer nights. Whether you’re a fan or not, you should take this opportunity to update a few things around your home and life.

Time Change Checklist

• Change time back) Update the clocks and alarms, moving the time back one hour.
• Check smoke and carbon monoxide detectors) Inspect the smoke and carbon monoxide detectors and change their batteries.
• Update lights) Check and replace light bulbs to help brighten the shorter days. Make sure you’re using the correct wattage bulbs to maximize lighting and change any blown bulbs in fixtures.
• Save money) With the New Year ahead of us, use this time to kick start improving your financial health. List all your expenses on a piece of paper. Then analyze each expense and decide if you need it and how you can cut it. For instance, how much are you paying for insurance? Homeowners insurance? Life Insurance? Property Insurance? Health Insurance? Etc… Once you know this, then contact us at Oak Insurance Solutions so we can show you how much you can save with one of our quality coverage plans. You have nothing to lose to get an estimate, besides a little bit of your mind once you realize how much you could have saved if you called in sooner. (Where’s the wink emoji at?)
• Make more money) On the topic of savings, with all the money you’re going to save, start a new piggy bank. Then use your newly saved funds to pay off additional debt, invest, or even purchase a vacation for this upcoming summer. You can even add more by decluttering your home and selling off those items that you no longer use or bring value to you. You can further pull out your entrepreneurial side and start a side gig. The ideas are endless.
• Declutter and deep clean) New seasons are always an excuse for a fresh start. In Feng Shui, they explain that clutter is anything unfinished, unused, or disorganized. Therefore, when you clear clutter, you create space for new things and will see your energy and creativity increase. Accordingly, if you declutter your home as well as your life of stress inducers, old ideas, unhealthy relationships, and bad habits…you’ll find yourself maximizing your potential and increasing your happiness. Looking for some creative ways to declutter? Here’s a great article by author and minimalist, Joshua Becker. After you’re done decluttering, give your home a thorough cleaning from top to bottom. This includes cleaning out the fridge, touching up dingy walls, and washing floors.
• Improve your diet and fitness) While you’re in the process of decluttering, you can take this time to clean out the pantry and fridge of all (or at least most of) those food items that you know are unhealthy and you have been meaning to avoid, but their presence continues to tempt you to eat them. Again, New Years is right around the corner. Why wait till the clock strikes midnight before you make a resolution to eat healthier and workout more? Start now. You have an extra hour, use that time to squeeze in a 20 minute or so work-out.

There you have it; a checklist to go through at your own pace, but hopefully you’ll start it before Day Light Savings 2018. And don’t forget to reach out to us for an estimate and see how much you’re going to save once you switch over to OAK Insurance.

Call Us & Find Out How Much You Can Save in Insurance!

(626) 775-7850