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"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 Frankfort, KY. 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 Frankfort, KY.
Frequent Questions...
Universal life insurance, also known as adjustable life or variable universal life insurance, is a type of life insurance designed to offer both an investment component and death benefit protection. In Frankfort, KY, this type of policy can also provide valuable benefits for policyholders, such as the ability to manage cash value and pay premiums easily. Additionally, the cash value that builds up within the policy can be used for future expenses, such as educational expenses or emergency funds. Universal life insurance offers the flexibility to add additional policy riders for further protection, making it an attractive option for families in Frankfort.
What are the main differences between universal life insurance quotes in Frankfort and whole life insurance?
The main difference between universal and whole life insurance policies in Frankfort, KY is their purpose and coverage. Whole life insurance is intended to provide coverage for an individuals' entire lifetime, while universal life insurance is created to give more flexible policy designs and greater tax advantages. Whole life insurance typically includes a cash value component that can be used as an investment tool, whereas universal life insurance does not. Universal life insurance also has lower premiums and has no predetermined maturity dates. Additionally, universal life insurance enables policyholders to adjust their death benefit, insurance riders, and premium payments, but whole life does not.
Can I get a universal life insurance policy Frankfort if I have health issues?
Depending on the health issues, you may be able to get a policy in Frankfort, KY. Life, health, and disability insurance policies can be tailored to your individual needs and circumstances, so it's best to speak with a knowledgeable insurance agent in order to discuss your options. Here, in Frankfort, we recommend talking with a trusted agency such as Kentucky Insurance Group, where a team of professionals can guide you through the process of selecting a beneficial policy that can provide coverage for your medical needs.
With universal life insurance near Frankfort, are there any penalties for not paying premiums?
In Frankfort, KY, there are penalties for not paying insurance premiums. Depending on the type of insurance, the penalty could include a cancelation of coverage, a penalty fee charged to the insured party, a period of time when an insured party is not able to use their plan due to a lapse in premiums, or a penalty assessed to any future insurance premiums. It is also important to note that failure to pay insurance premiums can result in a negative report to the credit agencies and an inability to obtain affordable insurance coverage in the future.
Is there a guaranteed minimum interest rate for the cash value of my universal life insurance quote Frankfort?
In Frankfort, KY there is not a guaranteed minimum interest rate for the cash value of a policy. However, there are regulations and guidelines in place to help ensure fair practices and minimize the amount of risk to the consumer. For example, insurance companies in the state are required to file annual rates for their products with the Department of Insurance, and rate increases must be filed and approved by the Department before they can be implemented. Additionally, consumers in Frankfort, KY can compare products and prices before committing to a policy.
In Frankfort, KY, death benefits are generally not taxable. However, if any death benefits include payments made through an insurance policy or proceeds from other investments, those may be subject to taxation. In addition, any estate that is transferred through inheritance may also be taxed. It is best to consult with a tax professional to determine the exact status of any death benefits in Frankfort, KY.
How does a withdrawal affect my death benefit and universal life insurance policies near Frankfort?
Taking a withdrawal from your life insurance policy in Frankfort, KY can have an effect on the death benefit you receive should you pass away during the time you have the policy. Depending on the type of policy you have, you could be required to withdraw more than your principal plus accrued interest, which would reduce the death benefit available to your beneficiaries upon your death. In addition, a withdrawal could also delay the death benefit payment as the insurance company will usually have to deduct the amount you withdrew from the death benefit before it pays out to the beneficiary.
How is the surrender value calculated with my universal life insurance in Frankfort?
In Frankfort, KY, the surrender value is determined by a combination of factors depending on the specifics of the policy. These include things such as the age of the policyholder, the type of policy, the term, the cash value buildup, any dividends or other credits, and any additional applicable fees. The surrender value is calculated by multiplying all of these factors by a surrender value factor, which is based on a number of conditions determined by the insurance company. The surrender value factor is multiplied by the overall premium amount to arrive at the surrender value amount.
How do management fees affect my cash value growth with my Frankfort universal life insurance policy?
Management fees can have a significant impact on your cash value growth in Frankfort, KY or anywhere else. These fees often represent a percentage of your total investment and they can affect return rates, given that the fees come out of what you make. Additionally, the higher the fees, the lower the return; thus, it's important to research your options in Frankfort and to compare provider fees to get the best rate. Over the course of years, management fees can add up and you may end up with much less return on your investment.
Is it possible to change my premium payment schedule with my Frankfort universal life insurance company?
Absolutely. In Frankfort, KY, there are a variety of options available for changing your premium payment schedule. Depending on the type of insurance policy you have, your insurance provider may be able to offer you more flexible payment options, such as monthly, bi-monthly, quarterly or annual payments. You can even choose to make payments through automatic withdrawal for added convenience. To find out what options are available to you, speak with your insurance provider directly and find out exactly how you can adjust your premium payment schedule.
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