Index Universal Life Insurance in Concord, NH

What do I get with index universal life insurance Concord?

Index Universal Life Insurance (IUL) is a type of insurance policy that provides death benefit coverage and the potential for cash value accumulation through the use of a fixed or variable index. In Concord, NH, you can benefit from this type of policy because it offers the potential to capitalize on stock market growth while growing your investments with the potential to receive higher returns based on how the market performs.

What is a policy lapse in index universal life insurance quotes in Concord?

A policy lapse in index universal life insurance is when the policy owner fails to pay the premiums and the policy enters into a non-pay status. In Concord, NH, a policy lapse can be very costly, as the policy owner may face a hefty penalty upon the reinstatement of the policy, which can be time consuming and costly depending on the insurer's underwriting. To avoid policy lapse it is important to review the policy regularly and contact the insurer if any questions or concerns arise.

Can I change my index universal life insurance policy Concord after I buy it?

Yes, you can change your index universal life insurance policy in Concord, NH, after it is purchased. Depending upon the policy's terms, you can usually make rider changes, additional premium payments, lapse the policy or make changes to the face amount. However, you should always consult with a qualified life insurance agent or financial planner to ensure that any changes you make are appropriate for your situation. Furthermore, if the policy is part of an estate or asset protection strategy, you should ensure with your attorney or accountant that any revisions won't adversely affect its purpose.

What's the cost of index universal life insurance near Concord?

The cost of index universal life insurance coverage in Concord, NH can vary depending on the amount of coverage desired, the age and health of the applicant, and other factors. Ultimately, the best way to determine the specific cost is to speak directly with a qualified and experienced insurance agent who can provide a quote tailored to your individual needs. There are many benefits of index universal life insurance, such as as cash value growth, attractive premium payments, and flexible policy design, so it is well worth the effort to research and compare plans in the Concord, NH area.

Do I need a medical exam to contact an index universal life insurance company Concord?

To get index universal life insurance in Concord, NH, it is not required that you obtain a medical exam prior to applying. However, depending on the coverage amount you apply for, the insurer may require a medical questionnaire and possibly a paramedical exam. A medical questionnaire is normally accomplished online or at the office, and it will ask for basic information about your current and past medical status. A paramedical exam is usually required for coverage more than $250,000 and may include blood and urine analysis.

What is a contingent beneficiary with Concord index universal life insurance companies?

A contingent beneficiary in an index universal life insurance policy in Concord, NH is someone who is entitled to the policy proceeds when the primary beneficiary dies or does not meet certain requirements. The contingent beneficiary will typically become the successor beneficiary if the primary beneficiary's wishes can't be fulfilled and they will receive the death benefit proceeds from the life insurance policy according to the terms listed in the policy. The contingent beneficiary can also act as a back-up to the primary beneficiary, in case the primary beneficiary can no longer handle the responsibility of managing the policy or other associated matters.

What happens to index universal life insurance policies near Concord if I outlive the term?

In Concord, NH, if you outlive your index universal life insurance policy's term, your beneficiaries will receive assured death benefits upon your passing. The policy may also include certain provisions that will allow you to change, or even extend, the duration of the policy. Depending on the specifics of your policy, you may have further options available to you, such as applying to rollover the policy into an annuity or to borrow from the policy's cash value.

How can I access the cash value of indexed universal index universal life insurance in Concord?

At Concord, NH-based Concord Financial, we understand that using the cash value of your Indexed Universal Life policy may be necessary. If you're a resident of Concord, you can access the cash value of your IUL policy in one of two ways. First, if you are at least 59 1/2 years of age, you may elect to take a partial or full withdrawal without penalty. Secondly, if you are under 59 1/2 years of age, you may elect to take a loan from your policy with interest being paid to you while the loan is outstanding.

How does a group Concord index universal life insurance policy through my employer work?

Group index universal life insurance through an employer in Concord, NH works by providing a secure way to save for your family's future. A guaranteed rate of return is credited to your policy, and lets your policy's cash value grow while offering a combination of long-term life insurance protection as well. There are also additional options such as disability coverage or accelerated death benefits, allowing your policy to offer even more protection for your loved ones when you need it most. This type of policy is a great way to get dependable life insurance coverage and generate simple, low-maintenance wealth.

What should I look for in a Concord index universal life insurance company?

When considering life insurance from a company in Concord, NH, it’s important to research the level of customer service they offer when ensuring you have a better understanding of the index universal life insurance policy itself. You’ll also want to check that the insurance company has a good reputation and is financially stable, so you can rely on them to deliver your benefits when it’s time. Additionally, the investment options available with the policy should be reviewed, and make sure you understand the fees associated with the policies and what is covered in case of an unexpected event.