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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.
Get started in less than 15 minutes.
With PolicyHub getting started is easy. Compare all the Variable Life Insurance rates from all the providers in Burr Ridge, IL. 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 Burr Ridge, IL.
Frequent Questions...
Variable Life Insurance is a type of permanent life insurance geared towards individuals living in Burr Ridge, IL. It provides lifelong coverage and death benefit protection, plus the potential to access a portion of the cash value in the account for retirement or other long-term goals. Unlike Whole Life Insurance, the cash value of Variable Life Insurance may fluctuate with the performance of the underlying investment funds, which could lead to greater long-term growth potential. Additionally, variable life insurance policies offer a death benefit guarantee and may even offer the flexibility to customize policy features, such as death benefit amounts or ruled limitations.
Can I use my variable life insurance quotes in Burr Ridge as collateral?
In Burr Ridge, IL, you may be able to use variable life insurance as collateral for a loan, however the type and amount of loan you're seeking will determine whether your insurer and lender will permit it. Variable life insurance is typically a cash-value policy, where a portion of the premiums are invested by the policyholder. When applying for a loan, your lender will want to review factors such as the type of policy you own, who owns it, and the statement of surrender value or cash accumulation values associated with it to determine whether it can be used as collateral.
With a variable life insurance policy Burr Ridge, can I decide where my premiums are invested?
Yes, with variable life insurance, policyholders have the choice to select where their premiums are invested, offering them more control over their life insurance policy than traditional life policies. In the state of Illinois, this type of plan is regulated by the Department of Insurance and should meet the requirements set by them. In Burr Ridge, IL, a variety of advisors are available who can help a policyholder to set up a variable life insurance policy and review the suggested investment options for their policy.
What fees are there with variable life insurance near Burr Ridge?
The fees associated with variable life insurance will depend on the policy that is purchased in Burr Ridge, IL. Your insurance provider will be able to provide you with a list of the specific fees associated with your policy. Typical fees associated with variable life insurance include insurance premium, mortality and expense risk charge, and funds expenses. The premium pays for the cost of coverage and insurance should the policyholder die during the term. Mortality and expense risk charge pays for the insurance company's administrative costs. Finally, the funds assets expense is the fund management fee charged for administrative and distribution costs.
How does a variable life insurance quote Burr Ridge handle dividends?
Dividends on variable life insurance policies in Burr Ridge, IL, are treated as additional premium payments. This means that your policy's death benefit or cash value can increase while your premiums remain the same. Additionally, dividends can be used to purchase additional insurance coverage, purchase riders, or be taken in cash. Receiving the dividends in cash is subject to any taxes that may be applicable. It is important to discuss the various options with your financial advisor to determine the best action that suits your needs.
The death benefit associated with an investment account in Burr Ridge, IL may vary depending on its performance. Generally, the death benefit is equal to the account balance, including contribution earnings accumulated up to the time of the account holderโs death. However, if the account experiences a decline in value, the death benefit may be lessened. To ensure the death benefit is maximized for your spouse or beneficiaries, itโs important to continuously monitor your investments to ensure you remain comfortable with the investment strategy and performance.
Can I upgrade variable life insurance policies near Burr Ridge to another policy type?
It is possible to upgrade your variable life insurance policy to another type of policy. If you are interested in upgrading, a great place to start is talking with a certified financial advisor or broker in the Burr Ridge, IL area. They can provide insight as to which policy type may best fit your current lifestyle, financial objectives, and budget. Upgrading may come with fees and changing rates, so it is important to analyze the terms of the new policy and compare it with the current policy to ensure you are making a well-informed decision.
Are management fees for variable life insurance in Burr Ridge similar to mutual funds?
In Burr Ridge, IL, the management fees for variable life insurance are typically comparable to those of regular mutual funds. However, the products are quite different, so it is important to consider the features and benefits for each option before making a decision. Variable Life Insurance can be an effective way to build cash value over time, while mutual funds are generally more short-term investments. Additionally, Variable Life Insurance comes with life insurance protection, which is likely not a factor with mutual funds. Ultimately, both can be valid options depending on an individual's financial goals and risk tolerance.
How liquid is the cash value of my Burr Ridge variable life insurance policy?
The cash value of a variable life insurance policy will vary depending on the performance of the investments underlying the policy. In Burr Ridge, IL, policy holders are encouraged to review their investments regularly to ensure that their policies are properly funded in order to take advantage of any potential growth opportunities. For policyholders in Burr Ridge, IL, it is important to consult with a financial professional to ensure that the cash value of their variable life insurance policy is maximized and remains liquid and secure.
Can I convert from term life insurance with a Burr Ridge variable life insurance company?
In Burr Ridge, IL, it is possible to convert from a term life insurance policy into a variable life insurance policy. Your existing insurer may be able to accommodate the conversion, but for the most competitive rates and coverage, you might look for another provider. Depending on your insurance provider, there may be different requirements or restrictions to the conversion process, so it is best to research and contact your provider before making any decisions. The same maximum benefit limits and certain fees for the new insurance policy may apply.
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