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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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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.
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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 Highland, IL.
Frequent Questions...
Yes, universal life insurance is considered permanent insurance and is a great option for individuals or families looking for coverage in Highland, IL. These policies offer guarantees on the death benefit and cash value that can last the entire life of the insured, and the policy's cash values, as well as dividends, can be used to pay the premiums. Universal life policies can be very flexible and are usually less expensive than other types of permanent insurance. Highland, IL residents may want to consider universal life insurance to provide peace of mind that their loved ones will be taken care of in the event of their passing.
What are the potential risks associated with universal life insurance quotes in Highland?
In Highland, IL there are potential risks associated with universal life insurance that you need to be aware of, such as interest rate risk in which the insurance company is able to adjust the declared rate and policyholder load costs. Furthermore, there is the risk of cash value involving mortgages and loans taken against the policy that can potentially leave the policyholder with an insufficient amount of money to cover policy expenses. Finally, there is also the risk of policy lapse or surrender in which the policyholder cannot afford the policy or premiums, thus, leaving them without any insurance coverage.
What features make a universal life insurance policy Highland unique compared to other life insurance products?
Universal life insurance is unique in its ability to offer the flexibility of variable premiums and death benefit amounts to individuals in Highland, IL. Unlike other life insurance policies, universal life insurance policy amounts can change depending on circumstances such as family size or current income level. This type of policy is also particularly attractive to individuals looking to invest in long-term financial solutions, since the cash value portion of a universal policy accumulates ongoing tax-deferred earnings. Furthermore, Highland, IL residents may find that universal life insurance offers the advantage of a variety of payment options, which could make their policy more affordable.
With universal life insurance near Highland, are there any penalties for not paying premiums?
Yes, there can be consequences for not paying your premiums in Highland, IL. Failure to pay may result in the cancellation of your policy and possibly your inability to obtain insurance in the future. Additionally, some policies may also have non-payment fees and related interest charges that can be applied to missed premiums. To ensure your coverage is maintained, it is important to make sure all of your premiums are paid on or before the due date.
How often is interest credited to the cash value in my universal life insurance quote Highland?
Highland, IL does not have a standard practice for frequency in which interest is credited to the cash value. It is important to be sure to speak with a local financial advisor to find out what specific interest credit policy is being offered in your area, as different policies may trigger certain tax and coverage implications. Generally speaking, most insurance policies will credit interest annually, but that could vary with particular products such as indexed-universal life insurance. Speaking with a financial expert to ensure that you understand current policies and how they might affect you in the future is recommended.
Yes, if you live in Highland, IL you may potentially increase the death benefit later in your policy's life. Highland's experienced insurance agents can help you make the best decision about changes and upgrades to your policy to meet your needs. At Highland, our agents strengthen and expand the possibilities for you and your future. Working with an agent to review and adjust your policy provides you with the assurance that your coverage will be tailored to your individual needs now and in the future.
Are there any fees associated with taking a loan against universal life insurance policies near Highland?
At Highland Financial, we understand that taking a loan can be a big decision. In response to your question regarding fees associated with taking a loan, there are no loan origination fees and no application fee when applying for a loan through our institution. Furthermore, if you are a resident of the Highland, IL area, you may even qualify for a special rate discount on your loan, allowing you to maximize your savings. We always strive to ensure our clients have access to the best possible loan terms in order to meet their unique needs.
How is the surrender value calculated with my universal life insurance in Highland?
In Highland, IL, the surrender value of a life insurance policy is calculated using a combination of the premiums paid in to date, the insurer's cost of reacquiring the policy, and the insured's current age. The policy surrender value will be higher when premiums have been paid in regularly, as accumulated cash values will be credited to the policy. The surrender value also takes into consideration the financial risk to the insurer should the policy be terminated prematurely, as well as any current interests rates that may be in effect.
How do management fees affect my cash value growth with my Highland universal life insurance policy?
When investing in Highland, IL, understanding the impact of management fees on your cash value growth is important. Management fees are a fee charged by asset managers and are used to compensate them for managing your investments. Generally, the higher the management fee, the lower the cash value return you can expect. While management fees are necessary to ensure responsible investment on your behalf, too high of fees can lead to reduced growth and inflation-adjusted returns. Therefore, it is important to factor in the cost of management fees when making investment decisions.
Is it possible to merge or split a universal life insurance policy with the average Highland universal life insurance company?
Yes, it is possible to merge or split a universal life insurance policy depending on your needs and the insurance policy specific features in Highland, IL. With a universal life insurance policy, you can usually adjust the beneficiaries, amount of coverage, or length of your policy with the insurance company's approval. Furthermore, you may be able to combine two separate policies into a single policy or even split a larger policy into two or more policies. It is best to contact your insurance company or agent to ensure that you understand the eligibility requirements that apply to your specific policy.
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