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With PolicyHub you get to compare over 37 Chesapeake, VA 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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Benefit from exclusive deals offered only to residents of your state, and lock in huge rate discounts.
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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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Step 2
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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 Chesapeake, VA. 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 Chesapeake, VA.
Frequent Questions...
Universal Life Insurance in Chesapeake, VA has no set end date, making it a great long-term solution for financial security. Unlike term life insurance, which has a predetermined lifespan, universal life insurance policies are lifetime coverage that can be maintained throughout your life as long as you continue to pay the premiums. The premiums for most universal life insurance policies are flexible, so you can adjust them to fit within your budget and your insurance needs.
How should I evaluate if universal life insurance quotes in Chesapeake fits my financial goals?
When evaluating if universal life insurance fits your financial goals in Chesapeake, VA, it's important to consider your needs and how they may change over time. Universal life insurance policies are a type of permanent life insurance that offer flexible premiums and the opportunity to build cash value. It is typically a good option if you'd like to reinvest your premiums into a cash value account or require coverage that doesn't expire in the future. Additionally, these policies offer tax advantages.
What features make a universal life insurance policy Chesapeake unique compared to other life insurance products?
Universal life insurance is a particularly attractive solution for individuals in Chesapeake, VA due to its flexibility. Unlike other life insurance products, universal life offers the policyholder protection against rate increases and the option to adjust coverage depending on their needs. Additionally, universal life may also provide the policyholder with a cash value component, allowing them to build up a savings account within the life insurance policy. This makes it an ideal product for individuals looking for more than just the traditional death benefit associated with life insurance.
Can I alter the frequency of my premium payments with universal life insurance near Chesapeake?
In Chesapeake, VA, yes, you can alter the frequency of your premium payments. Depending on your provider, you may be able to customize the payment options to suit your needs. By selecting monthly, bi-monthly, quarterly, or semi-annual payments, you can assess which plan fits your budget the best. Talk to your provider to determine what payment options are available to you. Payment arrangement changes may be subject to a one-time fee, so be sure to ask about the cost before signing up for any applicable plan.
Is there a guaranteed minimum interest rate for the cash value of my universal life insurance quote Chesapeake?
The guaranteed minimum interest rate for the cash value depends on the specific insurance policy and provider here in Chesapeake, VA. Policies may offer different terms and conditions, making it important to research your options thoroughly to ensure you are getting the best rate. Generally, the minimum interest rate guaranteed by most insurers is approximately 2.5% to 3%. It is important to note, however, that the interest rate can vary depending on market conditions at the time of purchase. You should also consider speaking to an insurance expert to get more detailed information regarding the guaranteed minimum interest rate for your particular policy.
Yes, you can have multiple beneficiaries for your policy in Chesapeake, VA. If you're in the area, it's easy to add additional beneficiaries to your policy. The process starts by making sure you fill out the forms accurately and completely with the correct information for each beneficiary. Next, submit the forms to your insurance provider in order to add the extra beneficiaries. After submitting all the necessary forms, it's important to contact the designated administrator or customer service representative to ensure all papers are properly taken care of and the beneficiaries are correctly listed on the policy.
Are there any fees associated with taking a loan against universal life insurance policies near Chesapeake?
In Chesapeake, VA, fees associated with taking a loan can vary depending on the type of loan and lender. For example, installments loan lenders might charge a fee for processing the loan or require an up-front payment. Mortgage lenders may charge a loan origination fee or a loan confirmation or processing fee. If you're obtaining financing, it's important to research the fees associated with potential loan products, compare offers, and select the loan option that best meets your needs and budget.
Are there any penalties for surrendering the universal life insurance in Chesapeake early?
It depends on the policy, but in general, individuals who surrender their policy early may incur a surrender fee that will be deducted from the cash value of the policy. Whether or not this fee is applied will vary depending on the specifics of the policy and the insurer. In Chesapeake, VA, it is wise to be aware of any potential consequences of surrendering a policy early to ensure that it is the right decision for your financial and insurance needs.
What types of fees are associated with my Chesapeake universal life insurance policy?
Chesapeake, VA residents who are considering a universal life insurance policy should understand the associated fees. Generally, these include a base premium, an administrative fee, and potentially, a mortality and expense charge. In addition, policy owners may face costs associated with policy loans, withdrawal penalties, policy exchanges, and reinstatement expense charges. To minimize potential fees, prospective customers should familiarize themselves with all of the costs associated with a universal life insurance policy and have an open and honest discussion with their insurance agent.
Is it possible to change my premium payment schedule with my Chesapeake universal life insurance company?
Yes, if you are a resident of Chesapeake, Virginia, it is possible to change your premium payment schedule. Most insurance policies allow you to select a payment plan that works for you, either shortly after initially signing up or at renewal time. At Chesapeake Insurance, we offer a variety of payment options with monthly, quarterly, or annual payment frequencies available. You can even customize the applicable monthly billing date so that it better aligns with your income cycles.
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