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
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
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, comfortable retirement years seem less likely to be a reality. This is why the proper financial planner can help make things simpler. Whetro 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 be necessary for everyone, but we believe there is a time and place for it. Because Whetro Advisors are an independent insurance representative, it allows us to offer you a variety of insurances from an assortment of highly rated companies. This is a part of our continued effort to offer you the most trusted, reliable service for your financial needs.
Contact us for a free consultation today.