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With PolicyHub you get to compare over 37 South Portland, ME 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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Locked in rate discount and exclusive deals.
Benefit from exclusive deals offered only to residents of your state, and lock in huge rate discounts.
Customized policies just for you.
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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Step 2
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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 South Portland, ME. 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 South Portland, ME.
Frequent Questions...
In South Portland, ME, universal life insurance is generally considered a form of permanent life insurance. This type of insurance provides life-long protection, and the policyholder can choose the level of premiums, benefits, and coverage they desire and need. With universal life insurance, policyholders are able to build a cash value by making extra payments, lower the cost of insurance, and receive a guaranteed policy value. Other advantages of universal life insurance include flexible premium payments, tax-deferred savings, and the ability to customize the coverage to your individual needs.
How do universal life insurance quotes in South Portland compare with term life insurance?
Universal life insurance in South Portland, ME is a more comprehensive and flexible type of life insurance. Unlike term life, it has the capacity to build cash value, offering greater value as time passes instead of only a death benefit. Additionally, with universal life insurance, policyholders have more flexibility in the payment schedule and the ability to adjust premiums and death benefits over time. Ultimately, it can offer South Portland residents a larger financial return, more protection for their families, and peace of mind in knowing that you and your family will have the resources needed should anything happen.
Are there any riders or additional benefits I can add to my universal life insurance policy South Portland?
Yes, there are riders and additional benefits you can add to your policy in South Portland, ME! Depending on your particular policy and the insurance provider, you may be able to add features such as accident forgiveness, shared limited liability, lower rates for safe drivers, high liability limits, roadside assistance, and rental car coverage. Be sure to check with your provider to understand which options are available to you and to make sure that you are taking advantage of the best benefits available.
What are the consequences of late premium payments and universal life insurance near South Portland?
In South Portland, ME, late premium payments can result in the cancellation of the insurance policy, as well as additional late fees and charges. If insurance premiums are not paid on time, customers may be subject to increased premium costs or may no longer be eligible to receive insurance coverage. Insurers may also take legal action in order to recover delinquent payments, such as filing lawsuits and issuing collection attempts. Ultimately, not paying insurance premiums in a timely manner can impact financial stability.
How often is interest credited to the cash value in my universal life insurance quote South Portland?
In South Portland, ME, interest is typically credited to the cash value annually. That said, the frequency of interest crediting can depend on the policy being used, as some insurers' policies may allow for the interest to be credited directly to the policyholder more often than that. It is best to check with your insurer for the specifics on how often interest is credited in your particular policy.
Yes, death benefits are typically taxable. In South Portland, ME, any death benefit paid by a life insurance company will be subject to tax. It's important to note that the taxable amount of a death benefit depends on the type of benefits received. For example, if a beneficiary in South Portland receives a lump sum death benefit payment, the entire payment is taxable. However, if the beneficiary receives regular payments, only the interest earned on the death benefit is taxable. Additionally, the estate tax rate in South Portland may need to be taken into consideration.
Can I repay a loan with the cash value from universal life insurance policies near South Portland?
Yes, you can repay a loan with the cash value from your policy if you are a resident of South Portland, ME. It is important to speak to your financial advisor so they can provide you with appropriate advice about your specific financial situation. Your financial advisor can assist in understanding if this option will meet your long-term financial goals. They may also be able to connect you with local lenders who offer loan repayment terms that better suit your individual needs. Overall, it is in your best interest to discuss all possible options with a financial expert to determine the most feasible option for you.
Can I reinstate my universal life insurance in South Portland after it lapses?
Yes, you can usually reinstate your policy after it lapses in South Portland, ME. However, each insurance company has different rules and timelines. For example, you may be required to pay a late premium or reinstate within specific time periods. If you have let your policy lapse and want to reinstate it, we recommend reaching out to your insurance provider directly to review the policy before taking any action. They can provide information on any fees or additional steps you may need to take in order to reinstate your policy.
What types of fees are associated with my South Portland universal life insurance policy?
The exact fees associated with a universal life insurance policy depend on the policyholder's individual details, as well as the insurance company providing the policy. In South Portland, ME, some of the fees that policyholders can expect with universal life insurance include admin fees, mortality and expense risk charges, and policy charges. In addition, depending on the specifics of the policy, policyholders may be subject to a variety of other fees and costs, including fees associated with managing the policy, withdrawing funds, or increasing coverage.
Is it possible to merge or split a universal life insurance policy with the average South Portland universal life insurance company?
Yes, it is possible to merge or split a universal life insurance policy in South Portland, ME. An experienced financial advisor can help you to assess the potential benefits of each option to determine which solution is best suited for your individual circumstances. Merging multiple policies is a great way to reduce overall premiums while combining death benefits and cash value into a single policy. On the other hand, splitting a policy can make premium payments more affordable by allowing you to allocate premiums more flexibly. Ultimately, the strategy you choose depends on your current income levels, eligibility for certain tax deductions, and other factors.
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