Frequently Asked Questions

Switching plans. I am unhappy with my coverage or the amount I’m paying for life insurance right now. The agent I used to work with retired and I haven’t talked to anyone in years. But I can’t switch plans now, can I? Won’t it be more expensive because I’m older and my situation has changed?

We love to meet with ‘orphans’—people who have not had contact from an agent in a while. Statistically, 62% of life insurance policyholders don’t know what they’ve got or how it works. We’re happy to provide a free, no obligation review of what you have and how it’s working. If your policy is at least five years old, there are alternatives to consider that will end up saving you money!

“Don and his staff are solution-focused. We’re happy.”
Dale Zimmerman
FastSigns, Burnsville

I don’t need my life insurance anymore. My kids are grown and on their own now. I don’t think I need as much life insurance, since they don’t directly depend on me anymore. Wouldn’t it be better to drop the insurance and invest those payments somewhere else?

A change in your life circumstances is a great time to make financial adjustments. Did you know it’s possible to sell your policy for more than the cash value in some cases? There are a variety of ways to transition from traditional life protection to investments that make more sense for your future goals. Contact us today to find out how.

How much do I need? How do I calculate how much insurance I need? My kids are little and I bring in at least half the income for the family. What’s fair?

Ideally, you want a benefit amount that is ten times your annual salary. While that seems like a lot, it can really be very inexpensive to guarantee. Call Don to find out how much that would be for you and the wisest and most economical way to set it up. Be sure to ask how to get all your money back, too!

“We’ve come to expect great service from Don and his crew.”
Lynette Robbins
Jerry’s Service, Inc., Plymouth

I don’t think I need life insurance. I’m young and healthy; the odds are against me dying before my kids are adults. Isn’t buying life insurance just throwing away money I could invest some other way? If I don’t die, then all that money is gone.

You always want to pack your parachute before you jump out of the plane since you can’t do it later! But one thing you may not know: it’s possible to purchase life insurance and get all your money back later when your family no longer needs that kind of protection.

Life insurance is a great place to put your ‘safe’ money, earning around 5% interest (compared to .5% at a bank). Not only that, there are no taxes on the growth of that investment.

Can I be turned down for health insurance due to pre-existing conditions?

Actually, in Minnesota, we have had guaranteed coverage for years. Now the nation is following our example. So, yes, you can get health insurance. We can help you navigate the plans to find ones that offer you the best coverage for your special circumstances.

“We get the good news and the bad and the answers from Don and his staff.”
Jill Curtis
Alarm Product Distributors, Inc., St. Paul

Do I need key man insurance for my business? How do I know when that makes good business sense?

Knowing when to get key man insurance is based on your unique business model. We’ll sit down with you and determine where the risks are to keeping your business moving forward successfully. You will know exactly what it is you need for your business security.

“We get step-by-step suggestions on how to implement benefits.”
Patty Froeber, DDS, PA, Minneapolis

It seems like the laws about what coverage I need to give to my employees is constantly changing. How will I know if the plan I have will be okay in the future?

Don’t worry—we’ve got you covered! Staying on top of changes to benefits programs, legal requirements, and opportunities for business owners to save money is part of our service commitment to you. We are connected through state and national organizations that alert us to industry changes, and we engage in ongoing education and connection to news organizations to keep on top of anything that might affect your programs.

Will you teach our employees about the benefit plans we’re providing?

Yes! We’ll help your employees understand not only how to use the program you’re providing, but also how to take responsibility for other areas of their benefits that might get lost without knowing how to make it work. We’re very knowledgeable about the plans and providing education to your people is a fun time for us!

“Don brought our group medical rates down in each of the last two years.”
Brigid Raskin
The Needle Doctor, St. Louis Park

We only have three employees. Can we get a group benefits plan?

Yes, you can get guaranteed benefits down to two employees. What is more important is that the benefits you need fit within the budget you have, and that is our specialty! Our programs are designed in a way that feels good at a favorable price.

Where are you located?

We are located at 5775 Wayzata Blvd Suite 700, St. Louis Park, MN 55416. However, we are quite happy to come see you at your home or place of business, or some other location convenient to you.

When can I get in touch with you? If something comes up on a weekend, will I have to wait for Monday morning to get an answer?

We can be reached any day of the week. Our commitment is to get a response back to you within hours of your call.

“We get the good news and the bad and the answers from Hoffer Insurance.”

Jill Curtis , Alarm Product Distributors, Inc., St. Paul

“We get step-by-step suggestions on how to implement benefits.”

Patty Froeber, DDS, PA, Minneapolis

“Hoffer Insurance stays in touch!”

Bruce Timm , MasterTech Auto and Tire, Newport

“Hoffer Insurance brought our group medical rates down in each of the last two years.”

Brigid Raskin , The Needle Doctor, St. Louis Park

“We’ve come to expect great service from Hoffer Insurance.”

Lynette Robbins , Jerry’s Service, Inc., Plymouth

“Hoffer insurance is very solution-focused.  We’re happy.”

Dale Zimmerman, FastSigns, Burnsville

“Hoffer Insurance makes life easy for me.”

Jill Olson, Hamlin Mechanical, St. Paul

“You can always count on their friendly and superior service!”

Randy Laib, Raymond Products, Minneapolis
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