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Jim Christensen, an expert in the life insurance industry, runs an agency whose focus is on financial planning, retirement, and planning for unknown events in life. Jim is the definition of a ‘true Nebraskan’, having grown up in Omaha, he always loved the environment of good decision-makers. That has kept his feet planted here in Nebraska! Jim has just under forty years in the industry under his belt, beginning strictly on the insurance side of the business. His experience selling life insurance would ultimately evolve into an agency.
One of the most important concepts Jim wants consumers to grasp is the idea of income. Replacing lost income is the most important thing to look at when considering insurance plans. It is necessary to determine your financial worth in order to find the right coverage to help combat lost income. The key is to retain enough insurance so your money is actually working for you; the goal is to earn an interest rate that will enable you to replace the lost income.
Another key concept Jim preaches is endurance. Endurance is key to making good decisions on day one about insurance premiums, sticking to it, and then carrying it through to your life expectancy. If you make the right decision at the start, you will have an opportunity to build upon it. In the end, the bet will be in your favor. One mistake Jim sees people make is buying life insurance over and over. The problem with this approach is that it’s difficult to gain momentum for a valuable policy later in life. Jim encourages consumers to take the time to properly set up life insurance because doing so can pay big dividends later in the form of tax-free income.
Jim’s vast knowledge of the industry led him to come up with a few pieces of advice for people and families looking into life insurance. He first encourages people to ask a lot of questions regarding the agency itself, whether it’s regarding how many companies the agency works with, to how the companies are financially positioned. Next, he advises you take the time to thoroughly go through your policy and make sure you understand it. Although there is a stigma around how confusing policies can be, he strongly believes that if you actually take a look, they are not as complicated as they seem. His final piece of advice to us is to remember that although the premium is hard to pay, it always pays off in the end if you find the right plan for your family.