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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 North Laurel, MD.
Frequent Questions...
Universal life insurance in North Laurel, MD can last as long as the policyholder pays the required premiums before the policy matures, which typically occurs between age 120 and age 150, depending on the policy. In some cases, the policy may even last beyond age 150, although generally there is no death benefit for any policyholder who outlives their policy maturity date. The length of a policy depends primarily on its particular coverage and the ability of the policyholder to make the required payments.
How do universal life insurance quotes in North Laurel compare with term life insurance?
Universal life insurance is a form of permanent life insurance with a flexible premium, while term life insurance is a form of life insurance with coverage only for a specific period of time. Universal life insurance offers policyholders in North Laurel, MD the potential for greater control over their life insurance protection, and also offers the potential for tax-deferred cash value buildup. Term life insurance, on the other hand, is often the most affordable option for those seeking life insurance coverage for a specific amount of time, such as a 10 or 20 year term.
How can the cash value in my universal life insurance policy North Laurel grow over time?
By investing in a policy offered through North Laurel, MD, you will have access to an array of options that can help your cash value grow over time, such as guaranteed interest, indexed interest provided by stock markets, and variable interest options. You will also benefit from the potential for tax-deferred growth, which can lead to higher growth rates and longer-term savings. With the help of a qualified advisor, you can select options to address your needs and build up your policy's value to help you and your family build a secure financial future.
What are the consequences of late premium payments and universal life insurance near North Laurel?
In North Laurel, MD, late premium payments can have serious consequences. If any premium payments are not received by the due date, your insurance policy could be canceled for nonpayment and you will not be able to make any new claims on your policy. Your policy could be reinstated, but reinstatement fees and associated interest or late charges could be imposed. Additionally, any claims made on the policy after the due date and during the cancellation period may not be covered. It is important to read your policy for all premium payment details and to make timely payments.
What investment options are available for the cash value component after my universal life insurance quote North Laurel?
In North Laurel, MD, investors have numerous investment options for the cash value component. Savings accounts and money market accounts are great low-risk options with higher interest rates than regular savings accounts; they either come with a fixed rate or a variable rate, depending on the selections of the investor. Depending on the holdings of the investor, CDs, bonds and government securities can also be an attractive option because of their stability. For those looking for higher returns on their investment, the stock market could also be explored.
Yes, in North Laurel, MD you may be able to increase your life insurance death benefit later in the policy's life. Depending on the product and insurance carrier you purchase your life insurance policy from, you may be able to make additional premium payments or use the cash value from your policy to increase the death benefit. However, this option may not be available to everyone, so it is important to contact your life insurance provider to inquire and find out if that option is available to you.
Can I repay a loan with the cash value from universal life insurance policies near North Laurel?
You may be able to use the cash value from your policy to repay a loan in the North Laurel, MD area, but it will depend on the specific policy you have. Generally, policies offer cash value after the policy term has finished, but if you need emergency funds, some policies allow you to withdraw the cash value prior to the end of the term. If the loan you are looking to repay is from a bank or other financial institution, it will be beneficial for you to check with your policy provider and the financial institution to see if they allow such transactions.
Are there any penalties for surrendering the universal life insurance in North Laurel early?
Yes, there are potential penalties if you surrender the policy early in North Laurel, MD. The amount of a penalty that may be imposed will depend on the terms of your policy. Generally, early surrender fees are imposed to discourage holders from cancelling their policies prior to the end of the policy's term because the insurance company incurs costs by selling and servicing the policy. You should contact your insurance provider directly to find out if any early surrender fees are applicable to your policy.
With the average North Laurel universal life insurance policy, are there any transaction fees?
In North Laurel, MD, there are typically no transaction fees when switching your investment options. However, it is recommended that you speak with a professional financial advisor who is knowledgeable about the local guidelines regarding fees associated with investment changes. Also, depending on the institution with which you are investing, there may be certain conditions or restrictions that are associated with making any changes to your investment portfolio. Therefore, it could be prudent to consult an experienced advisor, or to speak with the institution, before making any changes to your investment options in order to ensure that you are not incurring any unwanted fees.
How can I change the beneficiaries on my policy with my North Laurel universal life insurance company?
In order to change the beneficiaries on a policy in North Laurel, MD, you must complete a Beneficiary Designation Form. This form must be signed by the policy owner, and two witnesses who are not beneficiaries should also sign the form. Once the form is completed and signed, bring it or mail it to the insurer. The new beneficiary(ies) will be added to the policy within two to three weeks, and the policy owner will be notified of the update. It is important to note that these changes will not take effect until the form is received.
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