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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 Roosevelt, NY.
Frequent Questions...
Universal life insurance is a type of insurance available in Roosevelt, NY that provides permanent life insurance coverage, with flexible premiums and the ability to accumulate cash value. It pays a death benefit to the beneficiary if the insured dies and offers tax-deferred growth on the cash value. You can even use the cash value to pay the policy premium and have the death benefit adjusted based on the performance of the investments in the cash value. It offers greater flexibility and control compared to traditional life insurance policies.
How do universal life insurance quotes in Roosevelt compare with term life insurance?
Universal life insurance provides Roosevelt, NY customers with an adjustable, more flexible option when it comes to life insurance coverage than traditional term life insurance. Universal life insurance policies offer death benefits similar to Term, yet also feature a cash value component which can help customers save for long-term goals, such as retirement. Furthermore, Universal provides policyholders the opportunity to adjust their death benefits or cash value accumulation amounts and payment dates, enabling them to customize their coverage in order to best suit their particular needs.
Are there any riders or additional benefits I can add to my universal life insurance policy Roosevelt?
Great question! You may be eligible for additional riders and benefits when you purchase insurance coverage from a provider in Roosevelt, NY. You should speak with an insurance agent to discuss the policies available and what supplemental riders or benefits they may have available which could be a great fit for you. Depending on your needs, some riders could include accidental death and dismemberment, disability income protection, auto accident protection, or medical payments. Additional benefits may include coverages for business property and liability for personal property. You will want to ensure the coverage you select best meets your needs and budget.
Can I alter the frequency of my premium payments with universal life insurance near Roosevelt?
Yes, you may be able to alter the frequency of your premium payments if you are a Roosevelt, NY resident. In most circumstances, you are able to adjust the payment structure to fit your financial needs by speaking with an insurance representative. Groups like the New York State of Health Marketplace offers flexibility when it comes to plan selection and the payment frequency of the premiums, so you may have additional options available to you. If you have any questions about premiums, plan selection, or payment frequency, contact a local agent in Roosevelt to help you find the best plan for you.
What investment options are available for the cash value component after my universal life insurance quote Roosevelt?
In Roosevelt, NY, there are a number of options available for investing the cash value component of whatever plan you choose. One popular option is to invest in U.S. Treasury securities, as these fixed investments typically offer a predictable return and are backed by the full faith and credit of the government. Another option is to invest in mutual funds, which allow for the diversification of investments and provide investors with greater exposure to the stock market.
In Roosevelt, NY, death benefits are generally not taxable at the federal level, although they may be liable to taxation at the state level. While there is no estate tax in New York, the state does levy a transfer tax on certain items of pecuniary value—such as money—at the time of death and in relation to a New York estate. Any transfer of assets to beneficiaries could potentially be subject to the New York estate transfer tax, and it’s advisable to speak with a qualified accountant about the specific details of your situation.
How does a withdrawal affect my death benefit and universal life insurance policies near Roosevelt?
Taking a withdrawal from a life insurance policy in Roosevelt, NY could impact your death benefit in various ways. Depending on the policy type, the amount withdrawn could reduce the total death benefit since many policies are set up to provide a variable death benefit that decreases if the policy owner withdraws from cash value. Additionally, if the policy owner passes away before the policy loan is paid off, the loan plus interest may be deducted from the death benefit. It's important to be aware of the specifics of your individual policy and consult a financial advisor to understand the full implications of a policy withdrawal.
Are there any penalties for surrendering the universal life insurance in Roosevelt early?
It depends on the policy which you surrender in Roosevelt, NY. Generally, if you surrender the policy early, you may incur a surrender charge, which means you won't receive the full amount of your premium payments. Also, if your policy gives you a loan option, you may end up owing more than the cumulative premiums you’ve paid if you surrender it early. Furthermore, if your policy has cash value, all gains over the premiums paid will be subject to taxes upon surrender.
With the average Roosevelt universal life insurance policy, are there any transaction fees?
Generally, there are no transaction fees for changing investment options in Roosevelt, NY. However, the financial institution you’ve chosen may impose certain service charges related to the transactions, and some different investments may be subject to sales loads or redemption fees. We recommend that you carefully read the terms of service that you agreed to when opening your account as these documents typically provide details about transactions fees. Additionally, most financial institutions provide online access to check balances, monitor investments, and perform transactions, allowing you to make changes without additional cost.
How can I change the beneficiaries on my policy with my Roosevelt universal life insurance company?
To change the beneficiaries on your policy if you live in the Roosevelt, NY area, you can contact a local insurance agent or a representative from your insurance company. This change must be completed in writing and properly notarized. Once the form is complete and signed, you will need to submit it to the insurance provider to make the change official. It's important to make sure you have selected the correct people to be your beneficiaries as these changes, once made, cannot be reversed.
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