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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 Spring Lake, NC.
Frequent Questions...
Universal life insurance is considered a type of permanent insurance, and it can be an especially beneficial life insurance option for residents of Spring Lake, NC. It offers the security of permanent life insurance coverage, and the flexibility to adjust premiums and benefits as your circumstances change over time. Plus, it offers the potential for long term savings. Along with the death benefit, policyholders can receive earnings that accumulate in the policy; those earnings may be used for insurance premiums, flexible policy withdrawals, or financing goals such as retirement, college tuition, or a home.
For whom are universal life insurance quotes in Spring Lake most suitable?
Universal life insurance is an ideal choice for many Spring Lake, NC, residents looking for a flexible, long-term insurance option. Its benefit structure can be tailored to meet the unique needs of policyholders, and cash value can build over time, giving a potential savings or investment element. Universal life insurance also offers protection from the unexpected, providing security for loved ones in the event of the policyholder's death.
Does the flexibility of a universal life insurance policy Spring Lake benefit policyholders?
Universal life insurance offers policyholders in Spring Lake, NC the unique ability to adjust the amount of their coverage or the amount of their premium payments as their needs change, allowing for a lot of flexibility. They can also use their policy's cash value to fund the premium payments or drop certain coverage features as their financial circumstances change, such as when their family or finances grow. This kind of flexibility can lead to lower cash outlay in times of financial hardship and greater protection when finances improve.
With universal life insurance near Spring Lake, are there any penalties for not paying premiums?
In Spring Lake, NC, insurers may impose a variety of penalties for not paying premiums, such as increasing the total amount due on the policy or canceling the policy. Additionally, you may also face late fees and interest charges, as well as potential fees imposed by the state of North Carolina in order to reinstate the policy. It is best to carefully consider whether paying the premium is the right decision for you before deciding not to pay it.
How often is interest credited to the cash value in my universal life insurance quote Spring Lake?
Interest on cash values in Spring Lake, NC is credited on an annual basis. Surplus earnings are calculated on the cash value balance each year and added to the policy as of the anniversary date of the policy. This means that if you purchased the policy in Spring Lake on November 1, 2020, then your surplus earnings will be credited to your policy on November 1, 2021 and every year thereafter.
In Spring Lake, NC, the answer is generally yes; death benefits are taxable. Generally, certain death benefits, such as insurance payouts and retirement account benefits, are not taxable to the beneficiary. However, all other death benefits, such as benefits from an employer, are taxable. The estate may be liable to pay taxes on any death benefits received by the estate as well. It's important for surviving family members to recognize the tax implications when it comes to death benefits. It's advised to consult a local tax professional to review any applicable tax laws and regulations.
Can I repay a loan with the cash value from universal life insurance policies near Spring Lake?
It is possible to use the cash value from a policy to repay a loan in Spring Lake, NC. Of course, any outstanding balance left on the loan must be covered with other funds, as policies are typically not large enough to cover the entire balance. It is important to remember that using the cash value of the policy to payoff a loan could affect the policyholder's ability to benefit from the policy, and can also cause premature surrender charges to occur. Therefore, it is important to obtain professional advice in order to determine which options are best.
What is the process for surrendering my universal life insurance in Spring Lake?
In Spring Lake, NC, the process to surrender a universal life insurance policy involves contacting the insurance company or agent with whom you purchased the policy. They can provide you with the information and paperwork needed to surrender the policy and sent it to the company. Once the company or agent receives and processes the paperwork, the cash value of the policy will be sent to you per the terms of the policy. It's important to remember that if you surrender your policy before the surrender period ends, you may incur additional costs, so make sure to speak with your agent before beginning the surrender process.
How do management fees affect my cash value growth with my Spring Lake universal life insurance policy?
Management fees in Spring Lake, NC may have an impact on cash value growth, depending on the type of policies being held. Generally, if the policy is actively managed, there are certain fees associated with that type of investment. Those fees, along with any other associated policy costs, can have an effect on the cash value growth of the policy. On the flipside, any fees associated with a passive type of policy generally don't have as big of an impact on the cash value growth.
How can I adjust the terms of my policy through my Spring Lake universal life insurance company?
If you are a policyholder in Spring Lake, NC and wish to adjust the terms of your policy after it has been issued, please reach out to your insurance provider directly. Often, insurance companies will work with you to negotiate reasonable changes to the policy terms. Be sure to contact the company to learn more about what changes are available and the associated fees that may be required. Additionally, speak with a local agent if you would like to approach the process from a professional perspective. It's important to remember that policy terms cannot and should not be changed without the consent of the insurer.
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