The value of life insurance

Every little moment counts when it comes to your family, and life insurance allows you to enjoy today, knowing that their future will be provided for.

The purpose of life insurance is within the name: life.

While no amount of money can replace your presence, life insurance allows you to provide for your loved ones’ immediate needs, outstanding debts, and future milestones if you aren’t around.

Our financial professionals and specialists can help you find an appropriate policy based on your income and needs, so you have everything you need to guard against the unknown.

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Keeping promises with life insurance

The death benefits your beneficiaries receive from your life insurance policy can help finance multiple crucial items, including:

  • Helping to cover funeral costs and associated expenses
  • Providing funds to help support outstanding debts, such as medical bills, credit cards, mortgage, and student loans
  • Supporting immediate living expenses and future needs
  • Helping to save for upcoming milestones, such as college funding, retirement savings, and long-term care
  • Maintinaing the lifestyle to which you’ve become accustomed

What we offer

If someone would be affected financially if they lost you, you are most likely someone who needs life insurance. No matter who you are, your life has value—beyond your annual income—and a financial professional can help you select a life insurance policy that fits you.

Term life insurance

Get simple coverage with term life insurance. This type of policy generally provides coverage for a set period of time and will pay benefits should you pass away while the term is active. Terms typically range 10, 20, or 30 years.

The premiums—or regular payments you make—are usually set at a consistent rate throughout the specified period; however, term life insurance does not offer the potential for cash value accumulation.

More than half of Americans think life insurance costs 3x or more than it does.

Source: 2019 Insurance Barometer Study, Life Happens and LIMRA

Permanent life insurance

Permanent life insurance can be a critical part of any financial plan, legacy plan, or estate plan. A permanent life insurance policy is designed to last until your death, meaning it will pay out as long as the policy remains in force.

Premiums on permanent life policies typically cost more than those of term policies, but they often include a tax-advantaged component or policy loans.

When you own permanent life insurance, it provides you with the potential to leave a legacy for the future of your loved ones.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.

Policy loans and withdrawals may create an adverse tax result in the event of a lapse or policy surrender and will reduce both the cash value and death benefit.

Whole life insurance

Whole life insurance can help you secure your family’s future. With whole life, you know what to expect with the same premium amount and fixed interest rate for the duration of the insurance policy with guaranteed protection for your entire life.

All guarantees are subject to the financial strength and claims paying ability of the issuing insurance company.

Universal life insurance

Universal life insurance is a flexible coverage option for wherever life takes you. This type of policy provides adjustable premiums and allows you to update your benefit amount as your life and needs change.

Depending upon actual policy experience, the owner may need to increase premium payments to keep the policy in force.

 

Your choice of carriers

To put your needs first, North Star Resource Group has remained an independent firm, ensuring our financial professionals can make customized recommendations and offer products from a variety of carriers.

Our life insurance team

Chris Sitek, CLTC®, CASL®, CLU®, ChFC®, RHU®, REBC®
Chris Sitek, CLTC®, CASL®, CLU®, ChFC®, RHU®, REBC®

Vice President Life and Long-Term Care

Lisa Schaub
Lisa Schaub

Brokerage Case Manager

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