Reverse Mortgage and Inflation

YouTube Video:

Inflation has increased the price of just about everything, including buying a new home. For senior homeowners living in a home that no longer fits their needs, this is a serious problem. They have the option of selling their home and receiving an inflated return, but finding a new home when inventory is so scarce – and expensive – can take months.  

With a reverse mortgage, senior homeowners can replace their traditional monthly mortgage payments with a lump sum or monthly payout, a line of credit or some combination… and still retain ownership. They can use the cash flow from the reverse mortgage to plan for aging in place and avoid withdrawing from their investment portfolio. And even though the current increase in interest rates means homeowners can borrow a bit less of the equity in their home, it is still more cost-efficient than moving.  

But a reverse mortgage isn’t right for everyone, so it’s important that you fully understand the process before making a decision.  

To find out more, call us today. 

Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage

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Health Savings Account – Whiteboard Video

1-Minute Video:

Video Transcript:

A Health Savings Account is a personal savings account you can set up to help lower your overall medical costs. An HSA account allows you to set aside pre-tax dollars for covered medical expenses like deductibles, copayments, coinsurance, and some others depending on the plan. HSA funds can be used at any time for a covered expense and contributions can be deposited and withdrawn tax-free. 

You can contribute to an HSA if you’re enrolled in certain high deductible health plans or HDHPs. HDHPs usually offer lower monthly premiums, but you must cover more of the health costs out-of-pocket before the insurance company covers their share. 

You’re not eligible to contribute to a Health Savings Account if you’re covered by Medicare or by an insurance plan that pays its share of a covered service without you paying a copay or deductible first. Some HSA plans even let you use HSA funds for covered medical expenses for spouses or dependents and let you roll over unused savings to the following year. To find out more about Health Savings Accounts, call us today. 

 

Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage

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Medicare Annual Enrollment Period AEP – Video

Whiteboard Video on YouTube:

When is the Medicare Annual Enrollment Period… and why is it important to you? The Medicare Annual Enrollment period runs from October 15th through December 7th each year. The Annual Enrollment Period is only extended beyond December 7th when FEMA declares an emergency or a major disaster in your area that would make sign up difficult.  

Each September – before the AEP period begins – you’ll receive an Annual Notice of Change letter detailing the changes in your coverage for the following year. Being aware of the Annual Enrollment window is important, because it gives you the opportunity to reevaluate your current coverage and decide whether to change it. Any changes you make during the AEP go into effect on January 1st of the following year. 

For example, you can switch from Original Medicare to a Medicare Advantage program that may provide additional coverage that Original Medicare does not. You also have the option to switch from one Medicare Advantage program to another for increased benefits. If Original Medicare coverage changes, you can even switch back to Original Medicare, or just update your Part D drug plan to take advantage of price changes in prescription drugs. 

As you can see, there’s a lot to know about Medicare Annual Enrollment. To make sure you get all the Medicare benefits you deserve, call us today. 

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Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage

 

 

Medicare Marketing Videos

Whiteboard Video on YouTube:

Video Transcript:

To get the most out of your Medicare coverage, it’s important to understand what the different parts of the Medicare program provide and what the cost is to you. The Medicare program consists of three parts: Part A – Hospital Insurance, Part B – Medical Insurance and Part D – Prescription Drug Coverage.  

Let’s talk about Medicare Part B – Medical Insurance. Part B covers outpatient care like doctor visits and lab tests. The premium for Part B Medicare is determined by your income. The amount can change each year and you pay this premium monthly, even if you don’t receive any Part B services. You pay a Part B deductible once a year before Medicare begins to pay. Once you’ve met your deductible, you’ll pay 20% of the cost of any Medicare-covered services or items. 

If you don’t sign up for Part B coverage when you first become eligible for Medicare, usually at age 65, your monthly premium could go up 10% for every 12-month period without Part B coverage. You’ll have to pay this late enrollment penalty each time you pay your premium for as long as you have Part B, and the penalty increases the longer you go without Part B coverage.   

As you can see, there’s a lot to know about Medicare, so why not get some help with your Medicare plan? Call us today to make sure you get the all the benefits from Medicare that you deserve. 

 

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Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage

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How to Choose Medicare Coverage: 1-Minute Video

Video on YouTube:

Video Transcript:

Many pre-retirees are uncertain about their choices when it comes to enrolling in Medicare. There are 2 main ways to get your coverage – you can choose the traditional fee-for-service Medicare, known as Original Medicare, or a Medicare Advantage plan.  

Medicare Advantage plans are similar to an HMO, which stands for Health Maintenance Organization or a PPO, which stands for Preferred Provider Organization. Original Medicare consists of Part A – Hospital Insurance for in-hospital care, and Part B Medical Insurance for outpatient services like doctor visits and lab tests.  

Medicare Advantage, known as Part C, is a managed care option that rolls all the different parts of Medicare into one. There may be extra coverage like dental and vision.  And everyone on Medicare is eligible for prescription drug coverage either from a Part D plan or a Medicare Advantage Plan offering drug coverage. 

There are many considerations that can factor into the Medicare planning process. Let us help you with your important Medicare decisions – visit our website or give us a call today! 

 

Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage

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Health Insurance Whiteboard Videos

1-Minute Video from YouTube:

Health Insurance Videos – learn about Health Savings Accounts, or HSAs.

Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage

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VIDEO – Reverse vs Traditional Mortgages

1-Minute Video:

Video Transcript:

One of the most frequently asked questions about reverse mortgages is, “How does it differ from a traditional mortgage?”  

With a traditional mortgage, you make your payments each month, slowly chipping away at the loan balance a little bit at a time. But with a reverse mortgage, monthly principal and interest payments are not required, so the balance goes up over time.  

To better understand how a reverse mortgage works, let’s look at a typical scenario. Bob takes out a reverse mortgage for 50% or less of the value of his home, and in the process gains home appreciation averaging 3-4%. That means that his home equity is increasing … even though he’s not making monthly principal and interest payments. The value of his home may be growing faster than his loan balance… turning home equity into retirement cash flow for Bob to use to help fund his retirement while still allowing him to leave a family legacy to his heirs. He can use those funds to renovate his home, fund a grandchild’s education, purchase a new car, or improve his retirement lifestyle. 

To find out more about how a reverse mortgage can benefit you and your family, call us today.  


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Client Testimonial – Medicare Video

Video from YouTube:

Video Testimonial from a Medicare Advisor

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Whiteboard Videos for Financial Advisors, Loan Officers, Medicare Insurance and Reverse Mortgage

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Reverse Mortgage Video Marketing – HECM Loan

Whiteboard Video on YouTube:

Are you a senior homeowner that feels your home no longer fits your needs? You don’t need the additional family space anymore, and maintaining a large home is expensive and can be a drain on your time and resources. It might be time to downsize and move into a one-story home or to a neighborhood closer to your family. The problem is that although your home has increased in value over the years, selling your current home may not cover the purchase price of a new one. 

A reverse mortgage loan program designed specifically to help baby boomers aged 62 and older can help bridge that gap. A Home Equity Conversion for Purchase loan or H4P, is a safe, FHA federally insured loan program that helps seniors purchase a home more suited to their retirement lifestyle. It will allow you to make a one-time payment of 50 to 65% of the purchase price of a new home, while eliminating your monthly mortgage payments…for life. You will still be responsible for maintaining the home and paying any property taxes, home insurance, and HOA fees. But you don’t have to repay the loan until you sell your current home, or you no longer live there as a primary residence. 

For many senior homeowners, this a better option than paying cash for a new home or taking out a mortgage in retirement. H4P also effectively doubles your purchasing power, by allowing you to afford the home you want now while leaving enough cash left over to fund your retirement. To find out more about the H4P program, call us today. 

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Loan Officers, Medicare Insurance and Reverse Mortgage

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