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With PolicyHub you get to compare over 37 Bessemer, AL Variable 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 Variable 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 Variable 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
Variable 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 Variable Life Insurance rates from all the providers in Bessemer, AL. Get started in under 15 minutes.
All your Variable Life Insurance needs in one place.
Variable Life Insurance is a type of insurance that combines the features of protection and investment. It isn't just about securing your family's future; it's also a way to grow your wealth. While it offers a death benefit similar to traditional life insurance, a part of your premium goes into investments, offering a chance for your money to grow over time.
This insurance has two main components. The first is the death benefit. If you pass away, your family receives a set amount to financially support them. The second part is the cash value. This is the investment portion. You can choose from a variety of funds provided by the insurance company. As the value of these investments goes up or down, so does the cash value of your policy.
One subtype of variable life insurance is called variable universal life insurance. You can adjust your premium and death benefit as your financial needs change. And just like with Variable Life Insurance, a portion of your premium goes into investment funds. This policy offers both the security of life insurance and the growth potential of investment. It's all about giving you the choices and control over your financial strategy.
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Real PolicyHub testimonials...
"I knew I needed Variable 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 Variable Life Insurance agent.
Roy Stephens
Variable Life Insurance agent
Roy Stephens is a Variable Life Insurance agent licensed in your state.
Mark Sidway
Variable Life Insurance agent
Mark Sidway is a Variable Life Insurance agent licensed in your state.
Cale Reeves
Variable Life Insurance agent
Cale Reeves is a Variable Life Insurance agent licensed in your state.
"I was searching for Variable 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 Variable Life Insurance in Bessemer, AL.
Frequent Questions...
Variable life insurance is a type of permanent life insurance policy offered by many companies, including those located in Bessemer, Alabama. It provides a death benefit for beneficiaries, while simultaneously allowing the policyholder to adjust the amount of their premium contributions, as well as the life insurance coverage itself. This offers policyholders the flexibility of adjusting the benefit and death benefit amounts they need, based on their changing needs. Unlike with other forms of life insurance, the policyholder can use their investments within the policy to increase their benefit and death benefit amounts.
Can I use my variable life insurance quotes in Bessemer as collateral?
Yes, in Bessemer, AL you can use variable life insurance as collateral for a loan. Generally, lenders will require that the policy have a guaranteed cash value that can be used as collateral. The premium payments must be current and up-to-date and the death benefit should also exceed the amount of the loan. The life insurer uses the amount held as security for repayment of the loan and your insurer may also charge a fee for the service.
What are the tax aspects of a variable life insurance policy Bessemer?
Tax implications associated with variable life insurance policies will vary depending on the policyholder's residency and domicile status. For residents of Bessemer, AL, cash value of a variable life insurance policy will accumulate income tax-deferred, so policyholders will not pay taxes on the cash value until they begin to use it. Furthermore, individuals in Bessemer who obtain life insurance through an employer and who qualify for the “Section 79” exclusion, may not incur any taxes on the growth of life insurance.
Do I need to understand investments for variable life insurance near Bessemer?
In Bessemer, AL, you do not need to have any prior investment experience to purchase variable life insurance. In fact, the insurance providers offer several options to help you decide which policy is right for you, including one-on-one consultations with their financial advisors, online resources, and in-person seminars. This allows you to make the best decisions for you and your family without feeling overwhelmed or out of your depth with the investments. With the right plan and thoughtful decisions, you can make the most of your variable life insurance purchase.
Can I include riders in my variable life insurance quote Bessemer?
Absolutely! As a resident of Bessemer, AL, you have access to many riders that can be added to your variable life insurance policy. Riders can help tailor your policy to meet your specific needs and add the extra coverage you require. Some examples of available riders are waiver of premium, accidental death benefit, and long-term care. To discuss specific plans available to you, please contact your local insurance provider. They can answer any additional questions you might have and point you in the right direction to ensure you get the best policy to fit your particular requirements.
The death benefit for residents of Bessemer, AL, will vary with the investment performance. Those making investments in individual stocks, mutual funds, or bonds may see different returns depending on how their investment performs. Your advisor can help you understand the risks associated with each investment option and the associated death benefit. Additionally, you may be able to purchase a life insurance policy or annuity that comes with a guaranteed death benefit, which may be a better options in some cases.
How does cash value growth influence death benefit with variable life insurance policies near Bessemer?
In Bessemer, AL, the cash value growth of a variable life insurance policy has a direct influence on the death benefit that the policy's beneficiaries receive. Although the death benefit of a variable life policy isn't guaranteed, cash value growth can help the death benefit to increase. The death benefit in this type of policy is determined by the cash value, plus any premiums and dividends that have accrued, minus any loans against the policy. That means, the more cash value growth the policy is able to experience, the higher the death benefit will be at the time of the insured's death.
Can I change investment options for variable life insurance in Bessemer without tax effects?
In Bessemer, AL, you can switch between investment options without tax implications if you're investing in a qualified retirement account, such as a 401k, 403b or 457b plan. When investing in one of these plans, you can switch between investment options without facing any taxes or penalties. However, if you change your contribution percentage, you will still have to pay taxes on that additional income. To learn more, contact a Bessemer-area financial advisor who can provide guidance about which option is best for your situation.
Can I use my Bessemer variable life insurance policy for retirement savings?
Variable life insurance in Bessemer, AL can be used as a retirement savings vehicle due to its capacity to allow policyholders to build cash value through investment options inside the policy. Just like other forms of life insurance, policyholders of this type of insurance product receive a death benefit if the unthinkable happens while also having access to funds in the policy as they approach retirement age, providing a means for generating income before withdrawing from retirement accounts.
Can I convert from term life insurance with a Bessemer variable life insurance company?
Yes, you can convert your term life insurance to variable life insurance in Bessemer, AL. Varion Insurance, located in Bessemer, has extensive experience helping individuals convert their term life insurance to a variable life insurance policy. Their experienced team will provide you with a one-on-one consultation to help explain the difference between term life and variable life insurance and help you determine if the conversion is right for you. With a knowledgeable team of expert advisors, Varion Insurance can help you make the best decisions for your financial future.
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