Compass Benefits Group, Your Benefit Guide
Compass Benefits Group is your trusted guide through today’s complex world of insurance and retirement planning.
We simplify Medicare, life insurance, long-term care, and annuity options so you can make confident, informed decisions about your health and financial future. With personalized support, clear explanations, and a commitment to doing what’s best for you, Compass Benefits Group helps you navigate your benefits with ease—giving you clarity, confidence, and peace of mind.
Medicare Open Enrollment starts on October 15th, 2026.
Call today for an appointment to review changes that may impact you in 2027!
Chad Hooper
Medicare
The four parts of Medicare:
Part A — Hospital Insurance Covers inpatient hospital stays, skilled nursing facility care, hospice, and some home health care.
Part B — Medical Insurance Covers doctor services, outpatient care, durable medical equipment, and many preventive services.
Part D — Prescription Drug Coverage Offered by private insurers following Medicare rules; covers prescription medications and many recommended vaccines.
Part C — Medicare Advantage Private plans that bundle Part A, Part B, and usually Part D. Often include extra benefits like dental, vision, and hearing.
Life Insurance
Term Life
Term life insurance covers you for a specific period, 10, 20, 30 years. This insurance type will provide your beneficiary a payout after you expire until the age specified in the insurance contract.
Term life insurance is generally more economical since it is for a set amount of time. The payouts are typically tax-free, and premiums and benefits are fixed for the entire term period.
Whole Life
Whole life insurance pays a fixed benefit amount regardless of the age you expire. Your premium is set a fixed amount, which is higher than term life insurance premiums because it covers you for the rest of your life.
A portion of each premium payment is used to accumulate cash value in your policy, that portion grows tax-deferred at a fixed interest rate over your life.
You can draw or borrow from this cash value after a specific amount of money is contributed to the policy.
Final Expense Insurance
Final expense insurance is a whole life policy that pays a smaller death benefit to cover final expenses such as funeral costs, final medical bills, and outstanding debts. This policy can also accrue a cash value.
Long-Term Care
Long-term care insurance is private insurance that helps pay for extended care when you can no longer perform everyday activities independently due to aging, illness, disability, or cognitive decline. It fills the gap left by Medicare, which does not cover most long-term custodial care.
Annuities
An annuity is a financial contract with an insurance company that turns your money into guaranteed income, either right away or in the future. People often use annuities to create retirement income that they cannot outlive.
