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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 Downers Grove, 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 Downers Grove, IL.
Frequent Questions...
Variable life insurance is a form of life insurance that allows policy holders in Downers Grove, IL the opportunity to invest in a selection of sub-accounts, or investment funds similar to mutual funds, with growth potential and the potential for a higher death benefit. The premiums and the death benefit are not fixed, as they can increase or decrease depending on the performance of the sub-accounts chosen. Variable life insurance also offers the ability to increase or decrease premium payments, and policy holders have the potential to build up cash values over the life of the policy.
Do variable life insurance quotes in Downers Grove come with a cash surrender value?
Yes, variable life insurance in Downers Grove, IL does have a cash surrender value. This cash value can be accessed at any time and is determined through a combination of factors including the policy's performance and fees. Because of its variable nature, the cash surrender value of the policy can fluctuate, so it's important to consider the pros and cons prior to taking out a variable life insurance policy. Additionally, variable life insurance policies typically have cash surrender charges and taxes that must be taken into account.
With a variable life insurance policy Downers Grove, can I decide where my premiums are invested?
Yes, you can choose where your premiums are invested with variable life insurance if you are living in Downers Grove, IL. Options may include stocks, bonds, mutual funds, annuities, and other investments. The benefit of investing with a variable life policy is that your money can potentially grow faster than with a fixed policy, allowing for more control when it comes to your financial goals. It's best to consult with a qualified financial professional in Downers Grove to make sure you understand the market and investment opportunities that best suit your individual goals and risk profile.
What fees are there with variable life insurance near Downers Grove?
The fees associated with a variable life insurance policy in Downers Grove, IL will vary depending on the provider and the specific terms of the plan. Generally, fees will include premiums, policy maintenance costs, and potential charges for withdrawals or loans taken out against the cash value of the policy. Additionally, variable life insurance typically has investment risk that may result in additional costs if the investments that are part of the plan do not perform as expected. It is important to review the terms of a prospective policy fully to understand any fees that may apply.
What happens if my variable life insurance quote Downers Grove underperforms?
In Downers Grove, IL, even if your chosen investments don't perform as well as expected, it's important to remember that there are financial advisors available to help guide you and your investments in a better direction. Depending on the type of investments you have, your financial advisor can help you manage and adjust your risks to ensure your money is still working for you in the most beneficial way possible. Investing comes with risks, but a financial advisor can help minimize them and effectively mitigate any losses.
Variable life insurance is likely not the best option for short-term coverage needs in Downers Grove, IL. Whole life insurance plans are usually better suited for short-term coverage needs, as premium payments are typically lower and more fixed than that of variable life insurance. Whole life policies also offer death benefits and range of other options, so you can tailor your plan according to your needs. Plus, you can configure the premium payments to fit your budget.
How does cash value growth influence death benefit with variable life insurance policies near Downers Grove?
The death benefit of variable life insurance policies is typically directly tied to the policy's cash values. If the cash value of your variable life insurance policy purchased in Downers Grove, IL grows, then so does the death benefit attached to the policy. Depending on the type of variable life insurance policy, dividends, premiums, or a portion of the underlying portfolio may be used to fund the cash value, growing the death benefit. During times of positive returns, the policy may have the added benefit of potential bonuses, which could further increase the death benefit amount.
How regularly should I check my variable life insurance in Downers Grove?
The frequency with which you should review your variable life insurance policy depends on how your needs may have changed since you set it up, as circumstances in Downers Grove, IL can also influence what coverage is most suitable for you and your family. As such, you should consult with a qualified, experienced insurance agent at least once a year to ensure the policy is up-to-date and still meets your current needs. Additionally, if any of your major life changes--such as having a child, getting divorced, or changing jobs--you should review your policy immediately to make any needed adjustments.
Is the cash value in my Downers Grove variable life insurance policy safe from creditors?
In Downers Grove, IL, a portion of the cash value in a variable life insurance policy is generally protected from creditors. That protection includes bankruptcy exemption laws, Extended Benefits Protection, and numerous exemptions included in the stateβs False Claims Act. Under these laws, creditors cannot access the cash value when filing a claim against the policyholder, allowing the policyholder to receive protection against creditors. To be sure of their protection, policyholders should review the insurance policy and state laws for details on assurance against creditors.
Can I convert from term life insurance with a Downers Grove variable life insurance company?
Yes, you can convert your term life insurance to variable life insurance in Downers Grove, IL. Depending on your situation and specific insurance needs, the conversion process may be beneficial. You should speak to an experienced life insurance agent in Downers Grove to determine if this is the right process for you. The agent can also provide you with additional insight into the benefits and drawbacks of converting your current policy. Additionally, the agent can explain any fees or costs that may be associated with the conversion.
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