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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 Fridley, MN. 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 Fridley, MN.
Frequent Questions...
Universal life insurance is an attractive option for people living in Fridley, MN, as it allows policyholders to customize their coverage with flexibility and low costs. Universal life insurance provides death benefit protection just like term life insurance, but it also has the added benefit of providing policyholders with a way to save for their future with tax-deferred savings components. This is a great option for those in Fridley, MN looking to secure assets for retirement or to leave money to beneficiaries, as the funds grow tax-deferred and can be accessed at any time without any penalties.
What are the potential risks associated with universal life insurance quotes in Fridley?
In Fridley, MN, as with any life insurance policy, universal life insurance policies come with inherent risks of policy lapse or surrender charges. These can be avoided by understanding the policy guidelines, as well as ensuring that enough premium payments are made to keep the policy in force. Another risk is the potential for misdirection of the cash value component by the policyholder resulting in a drop in the death benefit. Taking the time to understand how the policy works, as well as reviewing all materials provided to ensure long-term policy success, are important steps in mitigating risk.
How can the cash value in my universal life insurance policy Fridley grow over time?
One way that customers in Fridley, MN can grow their cash value over time is through a dividend-paying life insurance policy. Many policies through accredited life insurance companies can include a dividend option to provide additional funds beyond the initial death benefit. Dividend payments are tied to the performance of a permanent life insurance policy and are determined by the life insurance company's board of directors. Investing in a dividend-paying policy can help to increase the cash value of a policy over time thanks to the added income of the dividend payments.
Can I alter the frequency of my premium payments with universal life insurance near Fridley?
Yes, you can alter the frequency of your premium payments in Fridley, MN. Depending on your insurance policy, you may have the option to switch between monthly, quarterly, semi-annually, or annually. If you need to adjust the payment frequency or payment amount, simply contact your insurance agency and one of their representatives can assist you with the changes. It's important to note that changes may result in the premium being recalculated, so you may end up paying more or less for your policy than when you initially purchased it.
When I get a universal life insurance quote Fridley, how is the interest on the cash value determined?
In Fridley, MN, the interest on the cash value of life insurance policies is determined by the individual insurer. Many companies use their own proprietary formula, factor in a predetermined interest rate, and apply it to the policy's cash accumulation account. Variable policy options provide the opportunity to allocate money among different investment options or portfolios, each of which may have their own associated interest rate. Regardless of the method used to determine interest, it's important to review and compare policies carefully before selecting one, to maximize the return on investment.
The death benefit of life insurance policies is typically determined by a variety of factors, including your age, your health, and your coverage needs. In Fridley, MN, it can depend on the specific policy you choose, as well as the insurance company you choose to purchase it through. In general, the death benefit of your policy may be impacted by the length of the policy term, specific riders you may choose to add to the policy, and attainable discounts or bonuses.
How does a withdrawal affect my death benefit and universal life insurance policies near Fridley?
Taking a withdrawal from your death benefit can affect the amount of your estate that is passed down to your heirs if you live in Fridley, MN. State laws may impact how your withdrawal affects the amount of death benefit that can be paid to your beneficiaries, so it's important to consult with a local attorney or financial advisor to understand the tax implications and to make sure proper estate planning practices are followed.
Are there any penalties for surrendering the universal life insurance in Fridley early?
There may be penalties for surrendering a policy early in Fridley, MN. Depending upon the type of policy, the surrender charges could range from some of the early years' premiums being forfeited (as with some life insurance policies) to a rather substantial penalty (as is sometimes the case with annuities). It is best to contact an insurance professional in Fridley, MN to determine the exact charges for surrendering a policy early. Such a professional can review the policy details and accurately assess what the penalties may be.
How often will I be charged fees for my Fridley universal life insurance policy?
The frequency of fees in Fridley, MN will depend on the type of fees you are being assessed. Generally, most fees will be billed monthly or annually, but it is important to be aware of any possible additional fees associated with specific services. It is best to check with your local Fridley, MN service provider to ensure that you know exactly when and how often you will be charged fees.
Can I add or remove riders after the policy has started with my Fridley universal life insurance company?
In Fridley, MN, it is possible to add or remove riders after the policy has started. However, you will need to do so through the appropriate administrative channels with the company that is offering you the coverage and with your insurance provider. Based on the specific terms of the policy, if the rider is accepted, any changes to the policy may result in an increase in premiums for the coverage in question. It is also possible that your policy won't allow for changes once it has already taken effect.
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