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Compare over 37 Variable Life Insurance policies in as little as 15 minutes.
With PolicyHub you get to compare over 37 Franklin Park, IL Variable Life Insurance policy providers in as little as 15 minutes. Save time. Save big. Get started now.
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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
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Step 2
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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 Franklin Park, 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.
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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 Franklin Park, IL.
Frequent Questions...
Variable life insurance is different from other life insurance policies in that the cash value of the policy is associated with investments in either mutual funds or separate accounts. These investments allow policyholders in Franklin Park, IL to manage more of their own investments, allowing their policy to grow with the market. With this type of insurance, the coverage and premiums are more flexible than those of traditional policies, and the death benefit is generally tax-free. Additionally, the policy's cash value can potentially benefit from tax-deferred accumulation.
Do variable life insurance quotes in Franklin Park come with a cash surrender value?
Yes, variable life insurance has a cash surrender value that may be available depending on the carrier and policy type selected. At InsuranceBrokersQL in Franklin Park, IL, we understand the importance of policy owners having access to their cash surrender values when needed, so we compare different life insurance policies to ensure our customers are selecting the best option for their individual needs. Depending on the policy's cash value accumulation performance, guaranteed withdrawals, and guaranteed premium payments, life insurance can provide both a death benefit to your beneficiaries as well as access to your money when you need it.
What are the tax aspects of a variable life insurance policy Franklin Park?
The tax implications of variable life insurance vary depending on the state. In Franklin Park, IL, life insurance is generally not taxed unless certain criteria are met. However, money gained from variable life insurance policies are taxed as ordinary income for federal income tax purposes. Any dividends or interest derived from the policy are also taxed and must be reported as income. Additionally, withdrawals from the policy are subject to taxes. To make sure that you are correctly understanding and complying with tax regulations in Franklin Park, it is wise to consult with an experienced tax professional before investing in a variable life insurance policy.
How transparent is the investment performance of variable life insurance near Franklin Park?
At Franklin Park, IL, we strive for 100% transparency when it comes to investment performance in variable life insurance. Our clients are informed of their policies' performance on an ongoing and quarterly basis and have access to up-to-date information, giving them the power to make decisions based on accurate information. We understand clients' needs for transparency and are committed to providing clear and complete information about the investments that provide protection for a lifetime.
How does a variable life insurance quote Franklin Park handle dividends?
In Franklin Park, IL, dividends paid on variable life insurance are treated as a policy credit. This means that the dividend is added to the policy’s cash value and can be used to increase the value of the death benefit, keep the policy in-force, pay premiums, or even take withdrawals. This flexibility allows policyholders to take an active role in their financial planning by utilizing the dividend in whatever way will be most beneficial to them.
Yes, you must be at least 18 years old to purchase variable life insurance in Franklin Park, IL. However, any minor under the age of 18 may be covered as long as their parent or legal guardian purchases the policy. In addition, depending on the provider, the applicant may be required to meet a maximum age limit to qualify. It is advised to speak to a qualified insurance agent about your particular situation and to find out the specific age qualifications for purchasing a variable life insurance policy in Franklin Park, IL.
How flexible are premium payments for variable life insurance policies near Franklin Park?
Premium payments for variable life insurance in Franklin Park, IL are customizable to an individual's budget and personal preferences. Flexibility is built into the policies, allowing individuals to choose how much they'd like to pay and how often they'd like to make these payments. Policies can be tailored to fit the specific needs of the policyholder, whether it's opting for an annual single payment or monthly payments. Variable life insurance gives the holder the option to increase their premium payments as their lifestyle changes, providing them with the necessary financial protection.
Does all variable life insurance in Franklin Park offer the same investments?
No, not all variable life insurance policies offer the same investment options. Franklin Park, IL residents have many options when it comes to variable life insurance policies depending on their individual needs. Various local insurance providers offer an array of investment options tailored for individuals in Franklin Park, IL. These options range from stocks, bonds, and annuities, to mutual funds, and index funds. Ultimately, the type of variable life insurance policy chosen depends on the individual's goals and needs.
Can I use my Franklin Park variable life insurance policy for retirement savings?
Yes, variable life insurance can be used as a retirement savings vehicle, offering Franklin Park, IL residents the venerable, tax-advantaged asset. With variable life insurance, you can build your retirement nest egg through tax-deferred growth, meaning that the growth of your policy contributions are not subject to income tax in the year they are made. In addition to this, the policy's benefits are tax-free for retirement purposes making variable life insurance an appealing option for retirement savings.
Does my Franklin Park variable life insurance company offer a grace period for premium payments?
Yes, premium payments for variable life insurance policies issued in Franklin Park, IL are subject to a grace period. Generally, this period lasts 30 days from the date of the missed payment. You must pay the full missed amount before the end of the grace period or the policy will lapse. If the policy lapses, it will no longer provide coverage and the policy may become irrevocable depending on the terms of the policy. If you want to reinstate the policy after a lapse, you must provide proof that the full missed amount has been paid along with any associated fees.
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