Universal Life Insurance in Firestone, CO

How long does universal life insurance Firestone last?

Firestone, CO's universal life insurance policies generally last for life, meaning you will be insured for as long as you pay the premiums. Depending on the policy, coverage may end after a specified period of time, such as at age 90 or with the death of the insured. There can also be a death benefit limit, which specifies the maximum amount a policy can pay out. To learn more about the specifics of your coverage and the duration of your universal life insurance policy, reach out to your local Firestone insurance agent today.

What are the main differences between universal life insurance quotes in Firestone and whole life insurance?

Whole life insurance is a permanent policy that will cover you until your passing; universal life insurance is a permanent policy, however, more flexible in that it allows you to adjust the premium amount and length of the policy based on your needs. In Firestone, CO, a whole life insurance policy could provide a death benefit to your family and also build cash value that you could borrow against.

Can I get a universal life insurance policy Firestone if I have health issues?

In Firestone, CO you can absolutely obtain a policy despite health issues. At Firestone Insurance, our experienced agents are committed to assisting customers in finding a policy that meets their budget as well as their specific medical needs. We understand how important it is for you to find a policy that is tailored fit to your needs and will help you to receive the best coverage possible, no matter what your health issue may be. Our experts specialize in individualizing our customer’s policies and finding the best solutions for any health issue.

Can I alter the frequency of my premium payments with universal life insurance near Firestone?

Yes, you may be able to alter the frequency of your premium payments at Firestone, CO. Depending on your policy, you may be able to pay premiums on a quarterly, semi-annual, or annual basis. You can contact your agent or our customer service department to inquire what payment options are available to you. We understand the need for flexibility and are always happy to discuss different payment options that you may be interested in.

How often is interest credited to the cash value in my universal life insurance quote Firestone?

At Firestone, CO, interest is credited to the cash value annually on a fixed policy anniversary date, as identified in your policy documentation. Interest payments may vary from year to year, based on the performance of the underlying investments which fund each policy. We recommend that policyholders pay careful attention to their policy documentation to determine the exact dates on which their policy anniversaries and interest payments occur.

With Firestone universal life insurance companies, can I have multiple beneficiaries for my policy?

Absolutely. At Firestone in Colorado, we understand that each individual's financial needs are unique. That is why we allow customers to divide the benefits of their policy among multiple beneficiaries. This enables you to provide for your loved ones in the manner you see fit and adjustments may be made anytime. With the right policy in place, you can rest easy knowing that your beneficiaries will be taken care of no matter what.

What is the maximum amount I can borrow from universal life insurance policies near Firestone?

In Firestone, CO, the maximum amount you can borrow from your policy will depend on the terms of your policy; however, in general, the maximum amount you can borrow is usually determined by the amount of your policy's cash value. To find out what the maximum you can borrow is in your situation, you should contact your policy provider. Typically, the cash value you can borrow is equal to 90% of your policy's cash value, which can carry a low interest rate. It can be a great way to access funds quickly in times of need.

How is the surrender value calculated with my universal life insurance in Firestone?

In Firestone, CO, the surrender value of a policy is calculated by multiplying the cash value, or surrender value payable, by the appropriate surrender charge percentage. This percentage would depend on how long the policy has been in force, the type of contract, the accelerated death benefit, or any riders attached to the policy. The surrender value takes into account fees, premiums, and credited dividends and interest paid up to the time of surrender. It is important to note that any surrender charges associated with the policy could significantly reduce the amount the insured receives upon surrender.

How often will I be charged fees for my Firestone universal life insurance policy?

Fees associated with services in Firestone, CO are generally charged on a case-by-case basis. This can range from a one-time payment to an ongoing subscription. Rest assured, any fees applied to your account will be made clear and transparent prior to processing. If you have any additional questions regarding the fees associated with particular services in Firestone, CO, please do not hesitate to reach out to our customer service team for clarification. We look forward to working with you!

How can I change the beneficiaries on my policy with my Firestone universal life insurance company?

If you need to change the beneficiaries of your policy in Firestone, CO, you can do so by contacting your local Firestone insurance agent. They will guide you through the process of making the necessary changes quickly and efficiently. Your agent can help you complete any associated paperwork or requirements so that you have the updated policy information and beneficiaries as soon as possible. Having the right beneficiaries on your policy can provide peace of mind and ensure your loved ones are taken care of.