At Sprik Financial Group in Sioux Falls, we know life insurance is about more than protecting your family—it’s a versatile financial tool that can support estate planning, business succession, charitable giving, and long-term wealth strategies. From providing for dependents to accumulating cash value for retirement, life insurance plays a vital role in securing your financial future.
Whether you’re just starting out, building your career, managing a family, or planning for your legacy, our advisors help you explore the right life insurance coverage options. We proudly serve clients locally in Sioux Falls and across the U.S. via secure video conferencing.
Life insurance provides security and flexibility by helping you:
Protect loved ones with a financial safety net.
Provide liquidity for estate planning and wealth transfer.
Support business succession or buy-sell agreements.
Accumulate tax-deferred cash value with certain policies.
Enhance charitable giving strategies.
We’ll guide you through the features, benefits, and considerations of each policy type, helping you select coverage aligned with your goals.
Also known as permanent life insurance, whole life provides coverage for your entire lifetime as long as premiums are paid. Premiums are fixed, and policies accumulate cash value on a tax-deferred basis, offering protection plus long-term financial benefits.
Term life provides affordable coverage for a set number of years—commonly 10, 20, or 30 years. It’s ideal for income replacement during your working years. While coverage ends when the term expires, premiums are often lower than permanent life insurance.
Universal life policies offer flexible premiums and death benefit protection. Depending on the product and funding, coverage can extend to age 80, 90, 100, or beyond. These policies require active management to remain in force. This policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rates or charges fluctuate.
Variable universal life combines the flexibility of universal life with investment options. Premiums may be allocated across a fixed account and professionally managed investment divisions, offering growth potential along with investment risk.
These products are offered by prospectus through NYLIFE Securities LLC. (member FINRA/SIPC), and a Licensed Insurance Agency.
Survivorship life insures two people and pays out after the second insured passes away. This type of policy is often used for estate planning, charitable giving, or business continuation strategies.
Life insurance can serve a wide range of needs for:
Individuals – Affordable protection and living benefits, including cash value accumulation.
Families – Security for dependents, estate planning strategies, and legacy protection.
Business Owners & Contractors – Life insurance can fund buy-sell agreements, protect against the loss of key people, and support succession planning.
Farmers & Ranchers – Provides liquidity to cover estate taxes, helps preserve farmland, and protects the legacy of family operations.
Comprehensive Options – From term to permanent policies, we help you compare and select the right fit.
Holistic Planning – Life insurance is integrated with your retirement, estate, and business planning strategies.
Local Advisors, National Service – Based in Sioux Falls, serving clients nationwide.
Personalized Guidance – Every client receives tailored recommendations based on goals, risk tolerance, and financial priorities.
Life insurance isn’t just about preparing for the unexpected—it’s about building security, flexibility, and opportunity into your financial future.
Contact Sprik Financial Group today to explore the right life insurance options for you, your family, or your business.