Category: Life Insurance

When you have people who depend on you, it’s always important to have a life insurance policy in place. The type of life insurance policy you choose should depend on what you want from your policy and what you have budgeted for the premiums. This insurance has two main types: term life and whole life. They work very differently from each other, but they also have much in common. Both pay out a death benefit to the beneficiaries of the policy. Call us at STARS Insurance in Deerfield, IL, if you need either of these policy types.

Term Life Insurance

Term life is one important factor that people need to know about before getting this type of policy. These policies are in effect for a specific amount of time. After that time has elapsed, they expire. Many people don’t like taking on a policy that has an expiration date, but the trade-off is that these policies cost much less than whole life insurance. This type is highly affordable for most people and often comes with very long terms.

Whole Life Insurance

This type comes with no expiration date at all. It is good for as long as you choose to keep the policy. It’s more expensive, but many people like that it doesn’t expire and that it builds up a cash value. Over the years, it builds this value that you can later borrow against if you have the need to. This can lead to peace of mind, knowing emergency money is available if you ever need to access it.

Get Life Insurance

No matter which type you choose, it’s essential to have a policy in place. To learn more about which type of life insurance you need, call us at STARS Insurance in Deerfield, IL.

Life insurance is a  valuable thing to leave your beneficiaries. But no one wants there to be a problem after their departure. If you want to be sure your wishes are fulfilled and your life insurance beneficiaries get the benefits of the policy you purchased, avoid these five common reasons why insurers deny life insurance claims.

Why Insurers Deny Life Insurance Claims

1. Non-disclosure or Misrepresentation

Most life insurance policies ask about health conditions, smoking and drinking habits, risky lifestyle choices, and other things that can influence their decision. If an applicant misrepresents the facts or doesn’t truthfully disclose the information, this may lead to a denial of the claim.

2. Exclusions in the Policy

Life insurance policies almost always exclude certain events, including activities such as extreme sports or circumstances that are not covered. For help determining exactly what exclusions are in a life insurance policy, consult with a representative at STARS Insurance serving Deerfield, IL.

3. Restricted Location

Sometimes a life insurance claim may be denied of the policyholder was intentionally in a restricted location. This may include places where a travel advisory was in place or in a situation where the policyholder intentionally put themselves in harm’s way, such as in a tornado.

4. Inaccurate Beneficiary Information

Life insurance companies do their utmost to pay out legal claims. However, the policyholder must provide accurate beneficiary information in order to do so. Outdated information or inaccurate information can cause unnecessary delays in paying out a claim.

5. Illegal Activities

Some life insurance policies include clauses where illegal activities are not covered. So if a policyholder passed away while engaging in an illegal activity, the claim could possibly be denied.

Call Today To Discuss Your Options

For help with all of your life insurance needs, including how to ensure your claim is paid, contact your representative at STARS Insurance serving Deerfield, IL.

Financial preparedness can make or break many families, including younger families. Unfortunately, some younger families fail to take out life insurance policies, which could leave loved ones exposed to considerable risks. If tragedy should strike, financial constraints can make challenges more difficult to manage. As such, it’s crucial for families at any age to look into life insurance programs. Contact STARS Insurance in Deerfield, IL to learn more about the benefits of life insurance.

The Benefits of Life Insurance Policies for Younger Families Explained

Life insurance may provide payouts should a tragedy occur. Which events are covered can vary from plan to plan. However, if you or your spouse should pass away, life insurance may provide payments. The funds provided could help with burial costs and could also provide financial stability in the event of lost income.

Such payments could prove especially crucial for a spouse left behind who is caring for a dependent, such as a child. Raising kids and keeping a roof overhead can be quite expensive. With life insurance, loved ones may have an easier time making mortgage payments or paying for daycare and other services.

Life insurance premiums can vary based on what is covered and the overall health of the person(s) being insured. It’s important to consider individual circumstances and specific policies. That said, young, healthy individuals often enjoy more affordable premiums than older individuals or people who are in bad health.

Reach Out To Us

Selecting the right life insurance plan can be daunting. The decisions made now could have a big impact on people in the future. It’s wise to work with an insurance agent to understand the terms and details of individual life insurance plans. Get in touch with STARS Insurance to learn more about specific life insurance plans in Deerfield, IL.

There are various important forms of insurance coverage to obtain in the state of Illinois. One type of coverage all people in the Deerfield, IL area should consider getting is life insurance.

There are various forms of value and benefits that can make this an ideal type of coverage to obtain:

Offer Financial Protection to Dependents

A primary reason that anyone in this state will want to have a life insurance plan is so they can offer financial protection and support to their dependents. If you have people that rely on you and your income, you will want to ensure they have support even if you were to pass away. A life insurance plan is a great way to do that as you can provide them with a payout that can cover any future costs that you want. 

Investment Alternative

The use of a life insurance plan is also a good option when you are looking for an investment alternative. If you are looking for life insurance coverage and want to diversify your investments, a whole life insurance plan can be an ideal option. This coverage allows you to receive life insurance support but also can help you create wealth as a portion of your payments will build into an account over time. Eventually, you are able to liquidate this account. 

Contact Us Today

Life insurance continues to be a great option for those that are in the Deerfield, IL area. When you are looking at different options, it is important to call our team of experts at STARS Insurance. There continue to be a lot of choices to make when looking for coverage and STARS Insurance can help. This will give you the guidance you need to choose an ideal policy for your situation. 

Life insurance is one of the most important types of insurance services you can buy. At STARS Insurance, serving Deerfield, IL, we are here to help you make smart insurance choices.

Life Insurance Do’s and Don’ts 

Don’t Procrastinate 

It is so easy to ignore the need for life insurance because we always think that our passing is in the far distant future. Preparing now for the future, though, is the best way to protect your family’s financial security. 

Do Talk With Your Family

The best way to determine the amount of life insurance you will need is to have open and honest conversations with your family. Many families find this to be a difficult topic to discuss. Sometimes it is helpful to have an insurance agent sit down with everyone in the family so that questions can be answered professionally. An insurance agent is also trained to help families feel more comfortable when having these conversations. 

Do Set Realistic Goals

It is very important to set realistic goals for your life insurance investment. If you want your life insurance policy to provide financial security for your family after you have passed, you will need to talk with an insurance agent to discuss realistic benefit amounts that can accomplish this. 

Don’t Get Scammed

There are many life insurance scams around. It is very important that you check any insurance company with your local Better Business Bureau. They will be able to tell you if a company is reputable or not. 

If you would like to learn more about life insurance, or any of our other insurance services, please contact us at STARS Insurance, serving Deerfield, IL, and the surrounding areas.