Life Insurance
One of the greatest investments that one can make is the gift of life insurance. Various types of policies bring peace, comfort, and affordability. Our job at StarNet Insurance Group is to learn about your insurance needs, address your concerns, and educate you on the various policies that will bring you the satisfaction you deserve. We have policies available for newborns, adults, families, and seniors. Even some policies are structured as investment vehicles. Regardless, StarNet Insurance Group is here for you.
Policies
The most commonly known life insurance policies are whole life and term.
The whole life insurance policy is coined as “permanent life insurance.” Several components make this policy an attractive vehicle. Many policies last throughout your life, as long as you pay the premium, but we know that some whole-life policies end at the age of 100. Others may reduce the amount of the death benefit past the age of 65. Many policies increase the premium at that same age. However, ask us at ABCINS about our policies to see if the premiums are consistent and last throughout the policy's life. Also, this type of policy offers the opportunity to build cash value with which one can build savings in the account at a pre-determined interest rate. Also, you can borrow from the policy for many reasons, such as a down payment on a house, a college education, or in times of need.
The term policy often covers loved ones for a specified period. The most common periods to cover the insured are 10, 20, and 30 years. The death benefit is paid in full to the beneficiaries if an unfortunate demise occurs. Another perk of the term policy is the monthly premium is less expensive than the whole-life policy. The premium is fixed throughout the term but be aware that it does not build any cash value. It ends at the expiration of the term.
Other types of policies
A universal life insurance policy is a type of whole-life policy that offers a lot of flexibility. It offers ongoing flexibility in the death benefit, premiums, and cash value. There is a guaranteed minimum interest rate that is offered by the insurance carrier. You can also pay more than the minimum premium to increase the cash savings faster over time, which is a tremendous perk. As with other whole-life policies, any outstanding loan at the time of death results in a lower death benefit.
A final expense policy is available. Most people identify this policy as a burial policy. It covers end-of-life expenses, medical expenses, and other outstanding debts. It’s a great policy to consider as needed. Some of these policies streamline their qualification process. You may not need to complete a physical or offer access to your medical records. It may be as simple as answering some health questions to qualify. And remember that the premiums remain fixed throughout the term of the policy.
Carriers
At StarNet Insurance Group, we offer life insurance policies from some of the most notable names in the country. In other words, we represent some of the most highly-rated policies available. We offer the best option based on your needs. We at StarNet Insurance Group will take our time and discuss the strengths of each policy as we address your needs.
Why get Life Insurance?
There are several reasons to get life insurance, and one is to cover the final expenses of a loved one. Other reasons include leaving an inheritance, covering large debts, and replacing lost income.
Many don’t realize you can save your family from financial catastrophe for less than a dollar a day. Life insurance does not have to be an expensive purchase. It can be affordable and offer peace of mind, purchasing power, and wealth accumulation. However, ensure that your chosen policy aligns with your goals and needs. Call us at StarNet Insurance Group, and let’s get a quote.