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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 Franklin Lakes, NJ. 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 Franklin Lakes, NJ.
Frequent Questions...
Universal life insurance works differently than other types of life insurance in that it is a more flexible and customizable policy based on the insured's needs. In Franklin Lakes, NJ, a person could customize their policy's premium payments, death benefit, and investment options according to their personal preferences. The insurer invests the insurance premium in a variety of investments, such as stocks, bonds, and other securities, and hence the policy may build up cash value over time; the policy holder can withdraw money from the policy and use it as needed.
For whom are universal life insurance quotes in Franklin Lakes most suitable?
Universal life insurance is likely most suitable for individuals living and working in Franklin Lakes, NJ who are in need of permanent life insurance protection but would also like the flexibility to adjust their policy over time. By linking the policy to the performance of a market index, policyholders in Franklin Lakes can enjoy the potential for cash value growth, as well as the ability to adjust their coverage amount and premium in order to more effectively plan for the future. Universal life insurance also provides the added benefit of estate planning, allowing individuals in Franklin Lakes to create a customized estate plan that meets the specific needs of their family.
How can the cash value in my universal life insurance policy Franklin Lakes grow over time?
By investing in a life insurance policy in Franklin Lakes, NJ, your cash value will grow through a variety of different investment options, such as stocks, bonds, mutual funds, CDs, real estate, and/or cash. Depending on the type of life insurance chosen, the cash value can be used to increase the death benefit, provide income or loan funds, cover premiums, or provide funds for other large expenses. As the cash value earns dividends and grows over time, you will realize gains and be able to take advantage of additional financial opportunities.
How is a premium calculated for universal life insurance near Franklin Lakes?
Your universal life insurance premium in Franklin Lakes, NJ is based on your age, health history, and lifestyle. Depending on the type of universal life insurance plan you have, your premium may also be affected by the current state of the stock market and other external factors. Your premium amount is also calculated to reflect the company's operating costs, including overhead for overhead employees, agents, investigators, and other staff. Lastly, different insurance companies have various pricing models. By comparison-shopping and speaking to reliable insurance professionals in Franklin Lakes, NJ, you may be able to secure the most competitive premium amount.
Is there a guaranteed minimum interest rate for the cash value of my universal life insurance quote Franklin Lakes?
In Franklin Lakes, NJ, there is not a guaranteed minimum interest rate that applies to the cash value of an investment. Ultimately, the rate of return that an individual sees is dependent on the structure of the investment, the current and forecasted market conditions, and the investor's risk tolerance and needs. It is important for investors to analyze the different investment options available to them in order to make an informed decision that meets their personal financial goals. Additionally, it is wise to consult a certified financial planner to ensure an appropriate investment strategy is chosen.
Yes, in Franklin Lakes, NJ, you can have multiple beneficiaries for your policy. This means you can designate more than one individual to receive the proceeds from your policy when it matures. It can help ensure financial security for your loved ones and provide peace of mind for your family. For example, you may have more than one child or have a spouse and other close family that you want to provide for in the event of your passing. Having a policy with multiple beneficiaries is one of the best ways to ensure that your loved ones are provide for in the future.
What is the maximum amount I can borrow from universal life insurance policies near Franklin Lakes?
The maximum amount you can borrow from your policy in Franklin Lakes, NJ, is determined by your policy specifications. Generally speaking, most insurance policies will allow you to borrow up to the cash surrender value of your policy, while some policies might permit you to borrow up to the policy's total death benefit. To find out exactly how much you can borrow from your specific policy, you should contact your policy administrator or insurance representative. It's important to remember that when borrowing from your policy, you may be charged interest or other fees, so you should carefully review the terms of the loan before signing any agreements.
Are there any penalties for surrendering the universal life insurance in Franklin Lakes early?
Yes, there may be penalties for surrendering a policy early in Franklin Lakes, NJ. Financial and tax consequences may include surrender charges, forfeited investments, tax implications, or loss of insurance protection. It is always best to speak with an insurance professional to ensure that you understand the implications of surrendering a policy early before making any decisions. Additionally, those invested in a permanent life insurance policy need to be aware that the potential for cash surrender value may be lower than the face value of the policy.
What types of fees are associated with my Franklin Lakes universal life insurance policy?
Universal life insurance policies in Franklin Lakes, NJ will typically involve fees for processing applications and issuing the policy, as well as a fee for policy maintenance. The policy holder may also incur charges for any policy adjustments or if the premium is late. Additionally, some universal life policies have surrender charges that can be imposed if a policy is cashed in early or forfeited. These charges generally decline each year the policy is in effect, so it's important to make sure that you understand the specifics of any policy you may be considering.
Can I add or remove riders after the policy has started with my Franklin Lakes universal life insurance company?
Yes, riders can be added or removed from a policy after it has started for Franklin Lakes, NJ policyholders. It is simply a matter of getting in touch with your insurance representative and letting them know the changes you need to make. Depending on the nature of the requested change, it may necessitate special paperwork and potentially, an adjusted premium. However, your insurance representative can provide you with an estimate on the amount of change you can expect ahead of time. Regardless, your representative can make the process simple and smooth, so you will always be compliant and covered.
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