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With PolicyHub you get to compare over 37 Gurnee, 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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"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 Gurnee, 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 Gurnee, IL.
Frequent Questions...
Universal life insurance in Gurnee, IL is designed to last the duration of the insured person's life. Premiums are generally payable for as long as the policyholder remains in good health and is capable of paying these premiums. As long as the insured fulfills their obligations to pay premiums, the policy can remain in-force and help provide financial protection for their family. Universal life insurance is a permanent policy, and as long as it remains in effect, the death benefit will be payable to the beneficiaries.
For whom are universal life insurance quotes in Gurnee most suitable?
Universal Life Insurance is most suitable for those who live in Gurnee, IL and have long-term financial goals with the ability to change their policy as life changes. It is a flexible insurance policy that combines protection and investment options in one policy, allowing for accumulation of cash value with tax-deferred growth. This policy type may be beneficial for those looking for life insurance protection with an additional savings element, and the flexibility to meet their changing financial needs as their lives evolve.
What features make a universal life insurance policy Gurnee unique compared to other life insurance products?
Universal life insurance is a unique type of life insurance policy available to Gurnee, IL residents because it combines the death benefit protection similar to other life insurance policies with the ability to build cash value that can be used as an asset over time. Additionally, the universal life insurance flexible premium and death benefit makes it easy to adjust the policy based on your changing needs and budget. Premiums can be lowered at any point and the death benefit can be increased or decreased as desired.
Can I alter the frequency of my premium payments with universal life insurance near Gurnee?
Yes, you certainly can alter the frequency of your premium payments if you are located in Gurnee, IL. Generally, most insurance companies will allow customers to select either a yearly, monthly, quarterly, bi-annual or even semi-monthly payment frequency. Your choice of payment frequency may depend on which insurance carrier you go through as well. It is also important to remember that changing your payment frequency can potentially affect the overall cost of your policy. For instance, depending on the insurer, you may have a lower or higher overall cost on your premium if you switch to monthly payments.
What investment options are available for the cash value component after my universal life insurance quote Gurnee?
In Gurnee, IL, there are multiple investment options to choose from for the cash value component. An example of an investment would be to purchase stocks or bonds from Gurnee-area companies. You could also look at local mutual funds that could help diversify your investments. Additionally, you could explore various bank savings options such as CDs or money market accounts to start or grow your financial portfolio. Other alternatives such as annuities or real estate investing can also create a reliable stream of income.
Absolutely! In Gurnee, IL you can have multiple beneficiaries for your policy. In fact, having more than one beneficiary is a great way to make sure all your loved ones are taken care of when you're gone. Whether it's about making sure that your spouse or children are taken care of financially, or if you want to leave money for a favorite charity or cause, having multiple beneficiaries allows you to meet different financial goals. However, it is important to thoroughly research all the available options and double-check your choices to make sure that your wishes are honored.
Are there any fees associated with taking a loan against universal life insurance policies near Gurnee?
Taking out a loan may have associated fees, depending on the loan's nature and terms. Gurnee residents should familiarize themselves with the local laws and lenders regarding any potential fees prior to taking out a loan. It's important to ask the loan officer about any fees, such as origination fees, processing fees, late fees, and prepayment penalty fees, before signing a loan agreement. Additionally, it's important to read the loan terms and agreement carefully in order to have a good understanding of the total cost of the loan, including any associated fees.
Are there any penalties for surrendering the universal life insurance in Gurnee early?
It depends on the policy terms. In Gurnee, IL, most insurance policies have surrender penalties that may apply if they are withdrawn early. These penalties may affect the surrender value or amount of premium paid out. It is essential to read through the policy document to understand if a surrender penalty applies and, if so, what the exact terms are. Generally, the longer the policy has been in effect, the greater the penalty for surrendering it early.
How often will I be charged fees for my Gurnee universal life insurance policy?
In Gurnee, IL, the frequency of charge for fees will vary depending on the type of fees. Generally, there are monthly and annual fees applied, so customers should always refer to their contract or agreement to determine the specific charge frequency. It is also important to note that fees may be adjusted based on locale or service area, so customers should always check back regularly for the most up-to-date fee information. To ensure that fees are current and accurate, customers should also contact their local provider for further details.
How can I change the beneficiaries on my policy with my Gurnee universal life insurance company?
To change the beneficiaries on your policy in Gurnee, IL, you'll need to contact your insurance company directly. At the Gurnee office, an agent will be able to guide you through the process and help you update your policy accordingly. They will need your identification and the details of the new beneficiary before the paperwork can be filled out. The process may differ depending on the type of policy you've taken out, but the company should be able to communicate the exact steps involved.
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