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With PolicyHub you get to compare over 37 Biddeford, ME 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 Biddeford, ME. 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
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Mark Sidway
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Mark Sidway is a Variable Life Insurance agent licensed in your state.
Cale Reeves
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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 Biddeford, ME.
Frequent Questions...
Variable life insurance policies are designed to offer protection while also providing financial opportunities for policyholders. In Biddeford, ME, premiums are not fixed for variable life insurance policies. Premiums vary depending on a range of factors, such as the policyholder's age, health, underlying investments, and economic conditions. It's important to note that since the underlying investments of the policy may fluctuate, the death benefit and cash value associated with the policy can also fluctuate. Therefore, it's essential to review any variable life insurance policy thoroughly to ensure the policy meets the needs of the policyholder.
Are there early withdrawal penalties for variable life insurance quotes in Biddeford?
In Biddeford, ME, the penalties for early withdrawal from the cash value depend on a variety of factors, including whether it's a variable or fixed annuity, the terms of the contract, and the financial institution involved. Generally, if you're under 59 ½ and you need to withdraw funds, you may have to pay a surrender charge, along with taxes and potential penalties. It's important to get specific information from your financial institution before making any decisions about early withdrawal from the cash value.
Can I withdraw or borrow from a variable life insurance policy Biddeford?
Yes, you can withdraw or borrow from the cash value of your variable life insurance policy. It's a great way to access funds currently held as part of your Biddeford, ME policy. Be aware that borrowing funds from a policy comes with a loan interest rate and reduces the amount of death benefit that the policy provides. Also, depending on the type of policy, surrender charges may apply if you withdraw from the cash value of your policy. You should speak to your Biddeford-based insurance agent to explore your options and get more information before taking any action.
Do I need to understand investments for variable life insurance near Biddeford?
No, you don't need to be investment-savvy to purchase variable life insurance. It may actually be beneficial to consult with an experienced Financial Advisor in Biddeford, Maine about your investment options before committing to a particular carrier and policy type. Although the advantage of a variable life policy is the possibility of earning greater returns than an ordinary life policy, you also run the risk of losing some or all of your investment. With a knowledgeable Financial Advisor, you can make sure you are making an educated and informed decision.
Is there a minimum guaranteed return with a variable life insurance quote Biddeford?
Variable life insurance offered in Biddeford, ME gives policyholders the flexibility to differentially allocate their money among various investments such as stocks, bonds, mutual funds and other securities. As a result, there is no guaranteed rate of return, as potential profits or losses are dependent upon the underlying investments which may vary from year to year.
Yes, there are some limitations on fund transfers within the policy in Biddeford, ME. Transactions exceeding $5,000 must be reported to the IRS and may require the submission of supporting documentation. When transferring funds internationally, additional restrictions may apply and fees may be required, both to and from the recipient of the transfer. Restrictions may also impact the speed of the transaction, with pick-up times varying depending on the country or currency involved. In addition to the amount of transfer, the frequency of transfers and the lifetime limit of certain transfers can also be restricted.
How flexible are premium payments for variable life insurance policies near Biddeford?
In Biddeford, ME, variable life insurance provides flexibility when it comes to premium payments. You can adjust the premium amounts at any time to accommodate changes in your financial situation, or you can make larger payments to build equity faster. Plus, you can selectively make withdrawals if you need additional money for financial obligations or other life events. With variable life insurance, you have complete control over the premium payments, allowing you to adjust them as needed in order to meet your specific financial needs.
How regularly should I check my variable life insurance in Biddeford?
In Biddeford, ME, it is recommended that you review your variable life insurance policy annually. This allows you to check up on its performance, the amount of coverage you have in place, and whether it still meets your needs. If there have been any changes to your financial or life situation, regular reviews should be conducted to make sure the policy still fits. In addition to the yearly evaluations, it is wise to review your policy when there have been changes such as a marriage, divorce, or the birth of a child.
Is the cash value in my Biddeford variable life insurance policy safe from creditors?
In Biddeford, ME, the cash value in variable life insurance is indeed protected from creditors, allowing policyholders to maintain their financial security in the event of loss of income or other financial strain. According to Maine law, variable life insurance policies are not legally accessible to creditors. As a result, policyholders in Biddeford, ME can rest assured that their cash value is safe from legal seizure. Furthermore, other forms of life insurance, such as term-life and whole-life, also provide the same level of creditor protection.
Do I get dividends from my Biddeford variable life insurance company?
Yes, you may receive dividends from investments within a variable life insurance policy in Biddeford, ME. Depending on your plan and the returns it yields, any profits generated through your investments may be paid out to you as a dividend distribution. Most policies allow you to choose whether you want to receive the dividends in cash or to reinvest them into your policy funds. While receipt of a dividend from your variable life insurance plan is not guaranteed, receiving a dividend is a common benefit of investing in this type of life insurance policy.
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