Skip to main content

Before you go

You are about to leave Flagstar is not responsible for the content on other sites.

Insurance Strategies

Let's find the right mix of policies to protect your family, offset risk, and invest in your future.

Flagstar Wealth Services Logo

Plan ahead with insurance

Learn how insurance fits into your financial plan as protection and an investment.


Solutions for protecting yourself, your family, and your wealth.


Some insurance policies and products can build value and provide an income source.

Retirement investment

A cash-value component can become a financial cushion in retirement.

Life insurance as a financial asset

Life insurance exists to support your loved ones after you're gone; however, some policies include a cash-value component that you can use during your lifetime. Depending on your goals and overall portfolio, a permanent life insurance policy with cash value could provide the tax advantages and balance you need.

  • Universal and whole life insurance include a cash-value component.
  • Part of your premium payments goes toward cash value.
  • Cash value grows tax-free.
  • Cash-value component can be withdrawn or borrowed against.* 

Choosing the right type of life insurance

Life insurance comes in several options to suit different needs and life stages. We can help you find the right policy based on your family, budget, time horizon, and risk tolerance.

Whole life insurance

Life insurance coverage and a cash-value component with a fixed interest rate

Universal life insurance

Life insurance coverage and a cash value component with a flexible interest rate tied to markets

Term life insurance

Life insurance coverage for a set period (10, 20, or 30 years) with no cash value

Life insurance FAQs

You may need both. It depends on your financial situation and your needs. A term policy is an affordable option to protect your loved ones, but you can use a whole life policy as an investment or income source during retirement. You can purchase both policies for extra coverage or consider other options, such as a universal life policy.

Long-term care insurance protects your assets if you have long-term care expenses. Health insurance does not cover in-home care, nursing home care, and similar expenses. If you don't want to risk draining your savings or retirement accounts, a long-term care insurance policy might make sense.

You may need multiple types of insurance products depending on your financial situation. Our financial consultants can help you analyze your situation and determine which policy makes the most sense for you.

Focusing on what truly matters to you

At Flagstar Wealth Services, you’ll find financial guidance tailored to your unique goals. We can help you balance saving for the short term with investing for the future—always with your goals and comfort level as our North Star.

Ready to get started? We’re here to help.

Whether you’re a first-time investor or already have a portfolio and need a trained eye to review it and make recommendations, our Financial Consultants are conveniently available at your local branch.

Check the background of investment professionals associated with this site on FINRA’s BrokerCheck.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).  Insurance products are offered through LPL or its licensed affiliates. Flagstar Bank, N.A. and Flagstar Wealth Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Flagstar Wealth Services, and may also be employees of Flagstar Bank, N.A.  These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Flagstar Bank, N.A. or Flagstar Wealth Services.  Securities and insurance offered through LPL or its affiliates are: 

Not Insured by FDIC or Any Other Government Agency Not Bank Guaranteed Not Bank Deposits or Obligations May Lose Value


Flagstar Bank (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services. Please visit for more detailed information.


The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.


*Withdrawals and loans will reduce the policy value and death benefit and may have tax implications if not managed properly. Policy owners should consult a tax advisor about potential impacts.