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With PolicyHub you get to compare over 37 Des Plaines, IL 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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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.
Get started in less than 15 minutes.
With PolicyHub getting started is easy. Compare all the Universal Life Insurance rates from all the providers in Des Plaines, IL. 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 Des Plaines, IL.
Frequent Questions...
Universal Life Insurance is a type of permanent life insurance policy designed to provide Des Plaines' families with lifetime protection. Instead of paying a lump sum premium, like you would for term life insurance, universal life insurance offers the flexibility to adjust the amount of money being taken out of your account each month according to how much you can afford. This type of policy also offers a cash value component that builds over time, thus providing policy holders with additional coverage as well as potentially offering an additional income stream in their later years.
How should I evaluate if universal life insurance quotes in Des Plaines fits my financial goals?
Evaluating if a universal life insurance policy fits your financial goals in Des Plaines, IL requires a thorough assessment of your monetary objectives, insurability, and family dynamics. To do this, it is important to consider how much life insurance coverage you need to provide for your loved ones, determine if you are eligible for a policy, and establish if the policy is compatible to your overall financial strategy. Ultimately, it is advisable to speak to a certified financial planner in Des Plaines, IL to receive further counsel on the best type of policy for your unique needs and goals.
Can I get a universal life insurance policy Des Plaines if I have health issues?
Yes, you may be able to get a policy even if you have health issues in Des Plaines, IL. There are many insurance providers in the area that offer a wide variety of plans. Depending on the type of policy you are looking to purchase and the severity of your medical condition, you may be eligible for coverage. It's important to understand that many insurance plans will not cover pre-existing conditions, so you should review the policy insurance contract and speak with a qualified insurance agent to find the one that best meets your needs.
What are the consequences of late premium payments and universal life insurance near Des Plaines?
In Des Plaines, IL, late premium payments can lead to costly consequences. Homeowners who are unable to make their premium payments on time may be subject to cancellation of their policy and the potential for a lapse in coverage. Additionally, late payments may also bring the risk of non-renewal of the policy. This could eventually lead to a higher premium rate, or even being denied coverage in the worst-case scenario.
What investment options are available for the cash value component after my universal life insurance quote Des Plaines?
For Des Plaines, IL residents, there are a variety of investment options available for the cash value component of their portfolio. These options range from equities, ETFs, stocks, stock options, annuities, mutual funds, and bonds to Certificates of Deposit (CDs). Additionally, money market accounts are also available for those who prefer to hold a cash balance within their portfolio. Expert guidance is key when considering investing in any of the available options, and engaging a financial advisor can help to select investments best suited to individual goals, timelines, and risk tolerance.
Yes, you may be able to increase the death benefit on your life insurance policy later in the policy's life, depending on the type of policy and the company you have chosen to purchase the coverage from. In Des Plaines, IL, certain types of permanent life insurance policies allow you to increase your benefit amount and you may be able to do this without having to provide any additional health information. If you have a term life insurance policy, you cannot increase the death benefit once you have signed for it. However, you may be able to switch to a permanent policy with a higher death benefit amount.
Can I repay a loan with the cash value from universal life insurance policies near Des Plaines?
Yes, you can use the cash value from your policy to repay a loan in Des Plaines, IL. It is important to talk to your financial adviser to determine if this is the right option for your particular financial situation. Depending on your circumstances, you may be subject to a taxes or an early withdrawal penalty if you take the cash value out of an insurance policy. An experienced financial planner in the Des Plaines area can provide advice on how to make sure this repayment is the best decision for you.
How is the surrender value calculated with my universal life insurance in Des Plaines?
The surrender value of a policy in Des Plaines, IL is typically calculated as the sum of all premiums paid, plus accrued interest (if applicable), less any outstanding indebtedness. The current market environment in Des Plaines, IL is taken into consideration when calculating surrender values, along with any applicable bonuses or contractual benefits. Generally speaking, the surrender value is the least amount an insurance company will pay out to the policyholder for the policy prior to its maturity or expiration.
What types of fees are associated with my Des Plaines universal life insurance policy?
Universal life insurance policies have a variety of fees associated with them that vary depending on the policyholder's circumstances. In Des Plaines, Illinois, those fees could include a policy fee, administrative costs, rider charges, costs to cover the insurance company's expenses, and charges related to investments. Additionally, additional fees may be charged for added benefits such as long-term care riders. It is important to carefully review and understand all of the fees associated with the policy.
Is it possible to merge or split a universal life insurance policy with the average Des Plaines universal life insurance company?
Yes, it is possible to merge or split a universal life insurance policy in Des Plaines, IL. Customers should contact a licensed professional in the area to discuss their individual options and find out the best course of action regarding their particular situation. Merging and splitting a universal life insurance policy depend on many factors, and a local insurance expert can give individuals custom advice and help them decide if it is the right choice for them. Ultimately, it is a personal decision that should be discussed thoroughly to ensure the customer has the coverage they require.
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