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With PolicyHub you get to compare over 37 Beverly, MA Universal Life Insurance policy providers in as little as 15 minutes. Save time. Save big. Get started now.
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Over 37 policy provider comparison.
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Locked in rate discount and exclusive deals.
Benefit from exclusive deals offered only to residents of your state, and lock in huge rate discounts.
Customized policies just for you.
Our team tailors policies to your unique needs, meaning optimal coverage at competitive rates.
"I was totally lost trying to find the right Universal Life Insurance until I found PolicyHub. I was able to work with a licensed agent to compare all my options all at one. I got the perfect plan for me at a cheaper rate than I expected."
Barbara Winters
Policy Holder
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"I lost hope trying to find a Universal Life Insurance policy that wasn't insanely expensive. Thankfully PolicyHub helped me find the perfect policy that is affordable with high coverage. Thank you!"
Bill Barton
Policy Holder
PolicyHub is the smartest way to protect the people that matter most.
Safeguard Your Family
Universal Life Insurance means safeguarding your family in a worst-case scenario. Don't risk it.
Gain Peace of Mind
Far too many Americans are financially blindsided by the death of a loved one. But not your family.
Protect Your Business
Protect your business by ensuring a smooth transition of ownership with the right life insurance.
Beat Estate Taxes
Inheritance or estate taxes is burdensome for your heirs. A life insurance policy can help.
Invest in Your Future
For less than $1 per day, you can make a huge contribution to your family's financial safety.
Build Your Legacy
Through a life insurance policy, you can leave behind a legacy for your loved ones.
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With PolicyHub getting started is easy. Compare all the Universal Life Insurance rates from all the providers in Beverly, MA. Get started in under 15 minutes.
All your Universal Life Insurance needs in one place.
Universal life insurance is a type of permanent life insurance that has an investment savings element and low premiums like term life insurance. It is often adjustable, allowing you to alter the amount of coverage you have or the premiums you pay throughout the life of the policy. Part of your premium goes into an investment account, which generates a cash value that you may borrow against or invest.
Traditional universal life insurance offers flexible premiums and death benefits with cash value growth based on a set minimum interest rate. Variable universal life insurance allows policyholders to invest their cash value into various investment options, similar to mutual funds, with potential for higher returns but increased risk.
Indexed universal life insurance ties the cash value's growth to a stock market index, typically featuring a floor to guard against negative returns and a cap on potential gains. Guaranteed universal life insurance focuses on providing a guaranteed death benefit for lifetime coverage, with less emphasis on cash value growth, often making it a more affordable lifelong insurance choice.
Save time and get the best Universal Life Insurance policy with the cheapest rates. Guaranteed.
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Real PolicyHub testimonials...
"I knew I needed Universal Life Insurance but I didn't know where to go. I talked with a few other companies but the cost was outrageous. I found PolicyHub and found the perfect plan for me at an affordable cost."
Wendy Smith
Policy Holder
Get matched with a 5-Star Universal Life Insurance agent.
Roy Stephens
universal life insurance agent
Roy Stephens is a universal life insurance agent licensed in your state.
Mark Sidway
universal life insurance agent
Mark Sidway is a universal life insurance agent licensed in your state.
Cale Reeves
universal life insurance agent
Cale Reeves is a universal life insurance agent licensed in your state.
"I was searching for Universal Life Insurance but quickly found out that everyone was trying to sell me on policies I didn't need. Thankfully I found PolicyHub and get the cheapest rates and the right policy."
Nicole Nielson
Policy Holder
Introducing PolicyHub Price Match Guarantee
Our priority is to save you money while getting you the right coverage. If you find a lower rate for a similar policy anywhere else, we'll match it! With PolicyHub, you can rest assured knowing you're getting the best price for Universal Life Insurance in Beverly, MA.
Frequent Questions...
Universal life insurance has no expiration date, so it can last as long as Beverly, MA residents need the coverage. What's different about this type of policy is that it accumulates cash value that can be used for payment premiums and withdrawal of funds if necessary. Some people chose universal life insurance as a retirement plan, taking advantage of its tax-deferred advantage and the fact that it provides life insurance benefits that can be used to help their families or dependents in their time of need.
How should I evaluate if universal life insurance quotes in Beverly fits my financial goals?
Evaluating if universal life insurance fits your financial goals in Beverly, MA depends on your individual needs and preferences. You should consider your family's future needs, the length of your coverage, your monthly budget, and any existing investments you may have. An experienced insurance agent in Beverly can help you assess your unique situation and determine if universal life insurance is the best fit for meeting your financial goals.
Can I get a universal life insurance policy Beverly if I have health issues?
Yes, you can get a policy even if you have health issues in Beverly, MA. As an independent insurance agency, we understand that people's needs can vary, and we want to ensure that you are able to obtain the best coverage possible for you. We're here to help you find the best coverage options, regardless of any health or preexisting conditions. Our knowledgeable staff is dedicated to finding the best policy from different insurance providers that meets your specific medical needs.
Can I alter the frequency of my premium payments with universal life insurance near Beverly?
Yes, Beverly, MA residents can alter the frequency of their premium payments. In fact, many providers offer flexible payment plans allowing customers to customize their payments so they can better suit their budget. Whether you’d like to pay your premiums weekly, monthly or in a one-time payment, many local providers are willing to accommodate you. You can contact your provider directly to get information on what options are available to you and what steps you need to take for setting up a custom payment plan. Additionally, you can always contact your local insurance broker for more details and assistance.
Is there a guaranteed minimum interest rate for the cash value of my universal life insurance quote Beverly?
No, there is no guaranteed minimum interest rate for the cash value in Beverly, MA. That said, there are typically a variety of investment options available, each providing varying levels of returns. For example, individuals may choose to invest in a Certificates of Deposit (CD) from a local bank in Beverly, MA, which often provide higher yields and rates of return than savings accounts. Before investing, individuals should always research what their best options are, and do their best to maximize their return.
In Beverly, MA, death benefits received by inheritors following the passing of an individual are generally considered taxable income. This is subject to change based on the nature of the benefits and how the individual holds them in their name. For example, if the death benefits arise from an insurance policy, the total received is usually tax-exempt, whereas if the proceeds come from an individual's 401(k) or retirement plan, certain allowances and/or credits may apply.
How does a withdrawal affect my death benefit and universal life insurance policies near Beverly?
Taking a withdrawal from your death benefit can have an impact on the amount that will be paid upon death. In Beverly, MA, if tax is due on the withdrawal, it will reduce the size of your death benefit. Withdrawals are also subject to fees, which can also affect the death benefit amount. Therefore, if Beverly residents are considering a withdrawal from their death benefit, it is recommended that they consult a financial advisor to assess how it might affect their policy and what is in their best interest.
Can I reinstate my universal life insurance in Beverly after it lapses?
Yes, it is possible to reinstate your policy in Beverly, MA after it lapses, provided the reinstatement request is within the allotted timeframe. At the same time, the insurance company may ask that you furnish proof of current coverage and could require an additional late payment penalty. It's a good idea to contact your local Beverly, MA agent for more details, as different companies have different procedures in place. In some cases, it might be easier and less expensive to simply start a new policy.
Are there penalties for excessive withdrawals from my Beverly universal life insurance policy?
Yes, there are penalties for excessive withdrawals for Beverly, MA residents. The Massachusetts Division of Banks explicitly states that customers must adhere to the terms of their account contract, which includes any withdrawal limits that were set either by the customer or the bank. For those who make more withdrawals than permitted, the bank may assess a fee to be paid by the customer. In addition, banks could also suspend or terminate accounts if there are too many unauthorized transactions.
How can I change the beneficiaries on my policy with my Beverly universal life insurance company?
To change the beneficiaries on your policy if you live in or near Beverly, MA, you should contact a local insurance advisor. A benefit of using a local insurance advisor – such as those near Beverly – is that they understand the specific regulations in the area and are well-versed in how to best help you make your desired changes. The advisor can explain the necessary legal filing requirements and checklists that you must complete to change the policy beneficiaries. Additionally, a local advisor can also review the policy to ensure that the legal changes you make work in your favor and align with the policy intent.
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