PBG article

W. Adam Clatsoff
By Chris Hayes

Leaning back in one of the cushioned office chairs of our PBG Lifestyle Stuart office, W. Adam Clatsoff – author, grandfather and health care guru – says that he has "never worked a day in his life." I suppose it all depends upon your definition of "work."

Clatsoff moved from Canada to Hollywood, Florida in 1965 with his wife Carol, no green card and fifty dollars to his name. At the age of 25, he described himself as a "beach boy" – making palm hats, walking up and down the beach taking photographs of people, and selling suntan oil to make a few dollars.

"In Jefferson's at 163rd Street, they sold eight ounce bottles of suntan oil for eighty-six cents a piece. On the beach, in the pharmacies they sell them for $2.50, and that price disparity was my living."

When asked what led Clatsoff to switch out his sunglasses and board shorts for a coat and tie, he smiled and said, "Well, that’s what women do to you."

A friend of his wife asked if she knew anyone who wanted a job, and just like that Clatsoff's life would be taking a new turn.

"She got tired of me hanging around in a swimsuit putting suntan oil on pretty girls, because I want you to know there's a very thin line between application and seduction."

Clatsoff first delved into health insurance as one of the first commercial salesmen for Blue Cross/Blue Shield. "Up until then you had to contact them directly," he said.

"I’m still a door-to-door salesman," Clatsoff added. "Here I am, at your door."

After quite a few years of selling insurance, Clatsoff developed a new strategy that he thought would help his success.

"You have to build clients, you can’t build customers," he said. Clatsoff decided to take three years to build up his client base, promising to himself that afterward he would no longer have to cold call potential customers that he did not already know.

"By 1981, I never had to sell insurance to a stranger again."

With over forty years of experience with health care, Clatsoff has a wealth of knowledge, including what the perceptions of health care are versus the reality.

"One of the problems we have with health care in this country is that everybody thinks it's an infinite resource of little value, and it's a finite resource of extreme value."

Clatsoff noted that one of the biggest misconceptions about health care is that you can get more than what you paid for.

"People think when they're buying insurance that they can pay one dollar and get back ten dollars – it doesn’t work that way. You give us a dollar, we give you back eighty-five cents, maybe."

Currently, Clatsoff is owner of Adcahb Medical Coverage, which offers high quality insurance and financial products and services to the individual and business marketplace.

"Adcahb" is actually a combination of his family's name – "Ad" for Adam, "Ca" for Carol, "H" for his daughter Heather and "B" for his son Bill. Clatsoff says that he manages the clients, his wife deals with the paperwork and his kids handle the money.

More recently, Clatsoff released a book called "Health Insurance 50% Less: 50% Less Premium, 100% Better Coverage," which shares a few of his tips on how to substantially reduce the cost of your health insurance while also greatly improving it.

Strangely enough though, despite his many accolates in the area of health care, a majority of his press has come from another book, titled "101 Reasons Why You Should Eat Fast Food." After losing over 100 pounds in one year on a diet of portion-controlled fast food, he decided to share his success with others, especially his family.

"I wrote the book for my grandchildren, because I want them to understand that if you walk into a fast food place and order 1700 calories four times a day and you blow up to 400 pounds like I did, you shouldn't sue McDonald’s – that’s not their fault."

Instead of hamburgers and French fries, Clatsoff recommends salads, baked potatoes and chicken wraps – healthier and smaller meals that are becoming more and more common in fast food restaurants. Of course, he also walks four to five miles a day.

"The point of the book is not so much about the diet. The point of the book is that you have choices."

Right now, Clatsoff is choosing to enjoy life, even with all the preservatives added.

"At 69, you need all the preservatives you can get," he chuckled.

For more information on Adcahb Medical Coverage, visit www.adcahb.com. For more information on "Health Insurance 50% Less," visit www.healthinsurance50less.com.


TIPS ON PURCHASING LIFE INSURANCE

In terms of personal pleasures, buying life insurance doesn't usually fall in the same category as buying a new car or a new wardrobe. However, despite its lack of glamour and prestige, the decision to buy life insurance can be infinitely more important to a family and its future financial security.

Before you begin your search for a life insurance policy, it's important to give some thoughtful consideration into your financial goals. For most individuals, it's hard to imagine how life would be without them in it. But this is the first step in determining what financial resources you need to leave your family so that they can maintain the lifestyle you would want for them in case you pass on.

You might start by making a list that includes:
- those who depend on your income and/or support
- your financial obligations
- your assets
- expenses that would arise which you may not have now

For example, if you are the primary caregiver for your children, what would it cost your family to provide that care without you?

Also, don't overlook estate taxes. After adding up the value of their homes, cars, investments, pensions, 401(k)s, life insurance coverage and other belongings, many people are shocked to find that their total assets could be subject to estate taxes after death. A qualified insurance professional can help you address these and many other concerns.

Additionally, here are ten things you can do to help you and your family make the most appropriate life insurance purchase:

1. DO IT NOW Don't put off a decision that can have such a profound impact on your family. Also, make sure you have a current will or trust.
2. SHOP FOR QUALITY Buy from a company that has the top ratings for insurance financial strength and claims-paying ability from the four major rating agencies (Moody's, Standard & Poor's, Fitch and A.M. Best).
3. CHOOSE A FINANCIAL REPRESENTATIVE YOU TRUST AND LIKE WORKING WITH This person should help you reach your goals, and review your insurance plan every year to be sure that it continues to meet your changing needs.
4. KNOW WHAT YOU'RE BUYING Make sure you are comfortable with and understanding both the company and products(s) you are considering. If you're only being shown a "best case" scenario, ask for something less optimistic to see how various non-guaranteed assumptions can impact your premiums, cash values or coverage.
5. BE HONEST Do not omit any part of your medical history on your life insurance application. If you do, the company may be able to refuse coverage, deny a claim or cancel the policy.
6. PAY LESS OFTEN AND PAY LESS Save money by paying premiums annually rather than semiannually, quarterly or monthly, if possible.
7. BE PREPARED TO WAIT While most companies provide conditional coverage when you pay up front, you can expect delivery of the actual policy within approximately three months (it often takes time to get all the necessary medical record(s). If you don’t have it by then, contact the company.
8. READ THE FINE PRINT When you get the policy, read it carefully and ask your financial representative to explain anything you don't understand. Remember you have a "free-look" period (ten days in most states) that entitles you to cancel and return the policy for a full refund, without penalty.
9. TELL THOSE IMPACTED Inform your beneficiaries about the type, amount and location of any life insurance policies you own. Keep your policies in a safe place at home. Document the name and phone number of your financial representative, the insurance company and all policy numbers, and keep them in a safe deposit box.
10. GET AN ANNUAL CHECK-UP Meet with your financial representative to renew your life insurance coverage at least once a year to be sure it continues to meet your needs.

Be cautious if another representative suggests you cancel your current policy to buy a new one. Chances are you'll be better off keeping your old policy – especially if it’s a "cash value" policy. Contact your original representative or company before making any decisions.

All things considered, when purchasing life insurance, shop carefully, ask questions, and make sure you understand the answers. Keep in mind, as with most things in life, you get what you pay for. PBG

Article prepared by Northwestern Mutual with the cooperation of Howard Silver. Howard Silver is a Financial Representative with the Northwestern Mutual Financial Network based in Palm Beach Gardens, Florida, for the Northwestern Mutual Life Insurance Company of Milwaukee, Wisconsin. To contact Howard Silver, please call (561) 630-6300, e-mail him at howard.silver@nmfn.com or visit his website at www.howard-silver.com.