There are numerous names for insurance and often this leads to confusion among potential clients. At Wheatley Insurance we sell Life & Health Insurance and some other financial products. To simplify this for clarity we will focus on the two main categories and of course not even mention what we do not sell like Property & Casualty, like Auto, Home…etc:
I. Life Insurance
Life insurance comes in four basic types
A. Whole Life – Just like the definition implies this type of Insurance usually alway covers a clients life til end of life. Some policies may actually include a age to 110…etc. One of the best advantage of whole life products is it accumulates cash value and can often be borrowed against during in the life and/or include additional riders to get things like return of premiums…etc. One of the disadvantages of whole life products is higher cost and cost can be more expensive the older age when purchased.
B. Term Life- Again as the name implies it is the type of insurance that is for a set term or period of time. Often 10, 15, 20, or even 40 year terms. One of the biggest advantages is the premiums are usually level over time and less expensive when compared to Whole Life, IUL, …etc. The other positive age, while a factor in price, it is usually still offered to Seniors. Biggest negative for Term though is it accumulates no value and at the end of term if never used all monies are lost. Term Life is often the type of Insurance offered by employers.
C. Indexed Universal Life (IUL)– This is usually a term style for a certain period of time like 20 years as an example. But IUL’s can be whole life product that no only has a specific death benefit usually large with a return on investment as part of the funds are invested in the S&P Index or Global Indexes. It can be a riskier investment but often there is at least a minimal guarantee built into the policy.
D. Universal Life (UL)- Universal Life (UL) Insurance creates Cash Value Growth. Earns interest at a fixed rate set by the insurer. Offers stable & predictable return on investment. Offers steady, predictable growth on cash value, making it suitable for those who prioritize stability and a guaranteed return. It iis Simplicity & Less complex than IUL, with a more straightforward approach to cash value growth. A UL policy has a low risk profile: Lower risk, as the cash value growth is not directly tied to market fluctuations but that lower risk is also a trade off on limited ROI.
E. Other (Mixed Policy) -There are some mixture of Life Insurance products like “Mortgage Protection” which really is a term policy taken out to protect the length or term of the mortgage or other asset including one or more bread winners income, to protect often new or existing homeowners.
But again really there are basically 4 types of Life Insurance.
II. Health Insurance Including Individual, Family, Employer Group:
Wheatley Insurance is Licensed & Certified In Federal, & 5 States including Maryland, Delaware, Virginia, Ohio, NY to sell Life & Health Insurance including Medicare Advantage, Medicare Supplements, ACA (Obamacare), Dental, Hearing, Vision, and Private Indemnity Insurance.
At WheatleyInsurance.com we know Health Insurance is complicated and getting more complicated and expensive everyday for Individuals, Families, and Employers and Wheatley Insurance is honored to help provide you, yours, and/or your employees “Peace of Mind Protection! Even if you already have employer coverage we can protect you from MOOP “Money Out Of Pocket” to help pay rising Deductibles, and Co-Pays! In fact allow us to show you how you can use a Term Life Policy to protect you first from catastrophic illness and replace your loss of income, and is still a Life Insurance policy in the event of your untimely death! Contact Us Today for a Free Quote by Clicking Here!
The Best Way To Understand The Complicated Healthcare Insurance Industry is first to understand types of Healthcare Insurance. So Imagine Empty Buckets representing the types of Health Insurance Each Bucket represents a type of Health Insurance but not one fits all looks something like this:
III. OTHER FINANCIAL PRODUCTS
A. FIXED ANNUITIES- CONTACT WHEATLEY INSURANCE TODAY and allow us to show you how you can grow your initial investment with a fixed annuity and a strong ROI .(Return On Investment)
B. Other (Mixed Policy) There are some mixture of Life Insurance products like “Mortgage Protection” which often is a term policy taken out to protect the length or term of the mortgage to protect often new or existing homeowners. This is also true for health care catastrophic protection needs as well,
