Insurance Planning

Risk management, asset protection, legal and contractual requirements are just a few reasons insurance plans are vital to your financial future. But most importantly, insurance provides you and your loved ones with peace of mind.

Life Brings New Opportunities. Whetro Wants To Help You Explore Them.

The years you spent planning for your future secure many elements, but they cannot account for the unforeseen. Declining health, disability, and death are unpredictable variables. With Whetro’s insurance department, we will establish the best plan for changing circumstances both planned and unplanned. 

Insurance Planning Services

Life Insurance

Term Insurance (also known as Pure Life) is an insurance product that is that guarantees payment of stated death benefit if the covered person dies within a specified period. Term Insurance comes in either 10-year, 20-year, or 30-year level term and has a fixed premium for the life of the contract. Once the specified level period is up, policyholder has the option of converting to another policy. If no conversion happens then the policy is over.

Universal Life Insurance (also known as Flexible Premium Adjustable Life Insurance) is an insurance product is also a permanent life insurance but has an investment savings element. Ul Policies have flexible insurance premiums and can accumulate cash value. The insured has the option to pay more premium to add to their cash value or if enough cash value is available, have the option to use this cash to pay premiums.

Whole Life Insurance (also known as Straight Life or Permanent Insurance) is an insurance policy that runs for the insured’s whole life until death or the age of the policy which is typically to age 95 to 120. Premiums for a Whole Life policy are fixed are much higher than Term Insurance. This type of policy will remain in force for the life of the insured, if the premiums are paid. This insurance will begin to accumulate cash value after the third year of premiums have been paid.

Long Term Insurance

Coverage that provides nursing-home care, home-health care, personal or adult daycare for individuals age 65 or older. LTC can be very expensive and on average a cost for a nursing home is $200 to $300 per day. With LTC insurance insured’s pay a annual premium and it typically covers $6,500 to $7,000 a month of nursing home expenses. These policies often come with a compounding factor which increases your monthly benefit over the years to keep pace with rising costs of nursing care facilities.

Medicare Options

Medicare Supplement (also known as Medigap) is an insurance product that helps to fill in the gaps of what Medicare Part B does not cover such as Copayments and Coinsurance. Depending on the plan you choose, if Medicare covers it then the Medigap policy will either cover some or most of the remaining costs. Premiums for this coverage is a fixed annual premium but with little to no additional out of pocket costs.

Medicare Advantage (also known as Part C) is an insurance product that takes place of the Medigap plan. Medicare Advantage have stricter rules then a Medigap policy, but the premiums are much cheaper. However, the out of pocket costs to the insured are very high and should be considered when choosing this type of plan. It does have some added benefits that is not offered with Medigap such as Prescription drug coverage, vision and dental.

Medicare Part D (Prescription Drug Coverage) is an insurance product that helps to cover your Prescription drugs. Even though we do not enroll you into this plan, we will help to run quotes and give you the data needed to enroll. Every October a letter will go out to you from us to see if there is a better plan for you to save on costs.

Your Financial And Insurance Plans Can And Should Work Together

It goes without saying-if you don’t plan for your financial future, it also means you’re not prepared for the unexpected twists and turns life presents. This is why the proper certified financial planner can help make things simpler. Whetro Wealth Management will not only help you manage risk to ensure a successful portfolio, we will help you plan to preserve it through proper insurance planning.
Insurance may not be necessary for everyone, but we believe there is a time and place for it. Just as Whetro Wealth Management is an independent financial planner, so is our insurance representative. Utilizing the services of an independent insurance representative allows us to offer you a variety of insurance options from an assortment of highly rated competitive companies. This is a part of our continued effort to offer you the most trusted, transparent, reliable service for your financial needs.

Contact us for a free consultation today.