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With PolicyHub you get to compare over 37 Massapequa Park, NY Universal Life Insurance policy providers in as little as 15 minutes. Save time. Save big. Get started now.
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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 Massapequa Park, NY. 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 Massapequa Park, NY.
Frequent Questions...
Universal life insurance, available in Massapequa Park, NY, offers policyholders flexibility and potentially offers them protection and tax-deferred savings. Universal life insurance integrates a life insurance policy with an investment strategy, and it combines a death benefit with a cash-value component that it accumulates over time and earns interest tax-deferred. It is designed to provide life-long protection including the policyholder's 85th birthday and beyond, but can be surrendered any time to access the accumulated wealth.
What are the main differences between universal life insurance quotes in Massapequa Park and whole life insurance?
Universal Life Insurance and Whole Life Insurance both offer a variety of financial advantages. However, one of the main distinctions between the two is in the amount of flexibility available to the policyholder. Whole Life Insurance is generally a more structured policy, with premiums that are fixed and remain at the same fixed rate for the life of the policy. On the other hand, Universal Life Insurance in Massapequa Park, NY provides policyholders with flexibility in setting their own premiums, as well as the option to borrow against cash that has accumulated in the policy.
What features make a universal life insurance policy Massapequa Park unique compared to other life insurance products?
Universal life insurance offers flexibility not found in other life insurance products, making it a great alternative for those in Massapequa Park, NY looking for coverage that fits their specific needs. Universal life insurance allows policyholders to adjust their premium payments, death benefit amounts, and other policy features enabling them to customize their coverage while benefiting from the death benefit of a life insurance policy. Furthermore, any excess premium payments go directly to an investment account where they can accumulate tax-deferred cash value that may be accessible to policyholders in the form of policy loans.
How is a premium calculated for universal life insurance near Massapequa Park?
Your universal life insurance premium in Massapequa Park, NY is calculated based on several factors such as your age, gender, medical history, lifestyle, current health, policy duration, and amount of coverage desired. Additionally, those in Massapequa Parkth who purchase universal life insurance may contribute to an investment portion of the product that can help grow their cash value, which can ultimately lower the premiums. The premium you end up paying depends on how the variables interact with each other and any potential riders you have attached to your policy. Additionally, the insurance company itself can also affect the premium.
Is there a guaranteed minimum interest rate for the cash value of my universal life insurance quote Massapequa Park?
The minimum guaranteed interest rate for the cash value in Massapequa Park, NY varies depending on the provider, type of account, and conditions outlined in the agreement. Typically, the minimum is either 0.2% or 0.3% depending on the account. It's important to read the terms and conditions of each account closely in order to understand the guaranteed minimum interest rate so you can make the best decision for your needs.
Yes, you can have multiple beneficiaries for your policy in Massapequa Park, NY. Many insurance companies offer the option to designate multiple persons as beneficiaries for a single policy. Depending on the policy, you may be able to designate primary and secondary beneficiaries, and give individual percentages of the benefit to each designed beneficiary. It's important to review your policy and the guidelines given by the insurance company, as rules and regulations vary by policy.
How does a withdrawal affect my death benefit and universal life insurance policies near Massapequa Park?
Taking a withdrawal from your policy in Massapequa Park, NY affects your death benefit as the withdrawal reduces your life insurance policy’s death benefit, cash value, and/or accumulated dividends. Additionally, if the withdrawal is significant, it may also cause the policy to lapse due to insufficient cash ahead of the insurance company’s premium requirements. Therefore, withdrawing your policy’s cash value can significantly reduce the death benefit, meaning that beneficiaries will receive less money if you pass away.
What is the process for surrendering my universal life insurance in Massapequa Park?
In Massapequa Park, NY, you will need to contact your insurance advisor or the insurance company that holds your universal life insurance policy. This can be done, for example, by visiting the agency in person, calling on the phone, or using an online message. You may have to fill in a surrender form, after which your insurance advisor or the insurance company can inform you of the payment options and will help you with the surrender process. Depending on the terms of the policy you hold, you may have to pay taxes on any gains made during the term of your policy.
How do management fees affect my cash value growth with my Massapequa Park universal life insurance policy?
Management fees can have a major impact on your cash value growth in Massapequa Park, NY. As a general rule, each time the policy is issued, renewed, or adjusted in any way, management fees are due. This includes premium payments, death benefit changes, and investment fund changes, among others. Although the amount of fees might be small on a per instance basis, they can add up substantially over time and can have a significant impact on the amount of growth in your cash value.
How can I adjust the terms of my policy through my Massapequa Park universal life insurance company?
If you would like to adjust the terms of your policy after it has been issued, you can contact an insurance representative from the Massapequa Park, NY area to find out what options are available to you. Depending on the type of policy you have, it is possible to edit your coverage to add additional benefits or remove items from your plan. Additionally, you may be able to make modifications to your payment plan or switch insurance providers if it makes sense in your specific case. Ultimately, it is important to understand your current policy and make sure you are getting the best coverage for your needs.
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