Compare over 37 Variable Life Insurance policies in as little as 15 minutes.
With PolicyHub you get to compare over 37 Effingham, IL Variable Life Insurance policy providers in as little as 15 minutes. Save time. Save big. Get started now.
Find the perfect plan from over 37 providers
Your one-stop-shop to compare all the rates, all at once.
With PolicyHub you get:
Over 37 policy provider comparison.
Explore multiple policies from all the leading insurers and choose the one that fits your needs.
Locked in rate discount and exclusive deals.
Benefit from exclusive deals offered only to residents of your state, and lock in huge rate discounts.
Customized policies just for you.
Our team tailors policies to your unique needs, meaning optimal coverage at competitive rates.
"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
ATTN: 2024 Variable Life Insurance rates just released!
Get the latest Variable Life Insurance rates for 2024 and lock in your policy today! Get started comparing policies right now.
Get the Variable Life Insurance plan with the cheapest rates in 3 easy steps.
Done in 3 easy steps
Step 1
Tell us about yourself.
Finding the perfect life insurance policy starts with answering a few questions to help us serve you better.
Step 2
Compare rates & plans.
Discuss your options with a licensed insurance agent. Compare plans to find the best policy & cheapest rates.
Step 3
Lock in cheap rates.
Secure the lowest rates and lock in the perfect life insurance policy for you and your family.
"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 Effingham, 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.
Save time and get the best Variable Life Insurance policy with the cheapest rates. Guaranteed.
![]() |
Option 1 | Option 2 | ||
---|---|---|---|---|
100% Digital | ||||
Licensed Agents | ||||
Expert Support | ||||
Get Started in 15 minutes | ||||
Decades of Experience | ||||
Compare 37+ Providers | ||||
Zero Hidden Costs | ||||
Top Insurance Providers |
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 Effingham, IL.
Frequent Questions...
Anyone in Effingham, IL who is looking for a flexible and customizable permanent life insurance policy should consider purchasing variable life insurance. Variable life insurance policies can be tailored to fit individual specific needs, allowing policyholders to choose from a variety of investment options. Such options can enable policyholders to potentially take advantage of market performance and enhance their death benefit. Variable life insurance also offers an additional level of living benefit privileges, allowing policyholders to access a portion of the account value, should they need it, to cover healthcare costs and other expenses.
With variable life insurance quotes in Effingham, how is the beneficiary impacted by investment performance?
Beneficiaries in Effingham, IL can be greatly affected by the performance of their investments. If an investment performs well, the returns can provide a substantial source of income. This can create financial stability and the freedom to pursue long-term goals, such as retirement. Conversely, if an investment is not performing as expected, it can impose a financial burden and leave the beneficiary in a difficult situation. Understanding the risk factors associated with investments and utilizing the tools available to monitor and properly manage investments can help improve outcomes for the beneficiary in Effingham, IL.
How does the cash value work for a variable life insurance policy Effingham?
The cash value component of variable life insurance is an incredibly useful tool for those in Effingham, IL. With this form of life insurance, the owner is able to establish a guaranteed death benefit while also contributing to a savings account they can access throughout their policy period. While the contributions to the account are not tax deductible, the investment growth within the fund is typically tax-deferred, allowing the policy holder to grow their savings tax-free.
Is there a death benefit guarantee with variable life insurance near Effingham?
Yes, variable life insurance has a death benefit in Effingham, IL. The death benefit typically pays out the higher of the policy's face value or the total premiums previously paid, less any withdrawals or the policy's account balance; whichever is greater. Death benefit guarantees are subject to the terms and conditions of the policy and the specific requirements of Effingham, IL. It is important to speak with a qualified insurance professional to ensure you understand the guarantees your policy offers.
What are the surrender fees for a variable life insurance quote Effingham?
Generally speaking, surrender charges for variable life insurance are set and assessed by the insurance company when the policyholder decides to discontinue their policy or withdraw funds from the policy cash value. Surrender charges may vary by insurer and typically range from 0-15% of the surrender amount. In Effingham, IL, state law requires that insurance companies are prohibited from charging any more than 10% of the surrender amount within the first five policy years, and then no more than 7% annually in the later years.
Yes, there are limitations on fund transfers within the policy specific to Effingham, IL. The maximum amount an individual can transfer to another party is $1,000 in a 24 hour period. If this figure is exceeded, extra security measures may be implemented. It's important to carefully review the fund transfer policy prior to making a transfer as certain actions may be subject to additional fees. Additionally, certain types of transfers may be prohibited, so it's important to speak with a customer service representative for additional information.
How does cash value growth influence death benefit with variable life insurance policies near Effingham?
In Effingham, IL the cash value growth of variable life insurance impacts the death benefit by providing beneficiaries with the potential for a greater life insurance payout. This is because by investing the cash value portion of the policy, policyholder’s could see their death benefit grow over time, providing a greater payout upon their passing. In areas like Effingham, IL where the cost of living is high, the added peace of mind that a variable life insurance policy can provide is invaluable, ensuring families are able to move forward financially despite the loss of a loved one.
Are management fees for variable life insurance in Effingham similar to mutual funds?
In Effingham, IL, the management fees for variable life insurance tend to be slightly higher than regular mutual funds, although exact figures may vary between providers. However, it can still be an attractive option for those who want to have an element of control without needing to constantly monitor the performance of their funds. Variable life insurance typically provides more flexibility than regular mutual funds, so it can be beneficial for those who want to make calculated decisions about their investments.
Is the cash value in my Effingham variable life insurance policy safe from creditors?
In Effingham, IL, the cash value of a variable life insurance policy can be legally protected from creditors. Illinois has many laws in place that make it difficult for creditors to place liens against these assets. Your cash value is also protected from creditors in the event of a bankruptcy filing. Additionally, beneficiaries of a policyholder's death benefit are usually not subject to creditor claims either. It is important, however, to review your policy and contact an attorney knowledgeable in debtor protection if you are concerned about creditors attempting to access your insurance policy assets.
How do loans affect death benefits with my Effingham variable life insurance company?
Policy loans from variable life insurance can impact the death benefit of a policyholder in Effingham, IL, by reducing the death benefit if unpaid at the time of the policyholder's death. If the policyholder dies and the loan still isn't paid, the financial institution will typically take the loan amount out of the death benefit, meaning those financially dependent on the policyholder may not receive the full amount. It's important to note that interest will generally accrue on the loan that the policyholder is responsible for, and this also applies to existing policy loans upon the policyholder's death.
Compare Effingham, IL Variable Life Insurance Policies
Get started today and compare over 37 Variable Life Insurance providers in as little as 15 minutes.
© 2024 PolicyHub - all rights reserved