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With PolicyHub you get to compare over 37 Godfrey, IL 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 Godfrey, 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
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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 Godfrey, IL.
Frequent Questions...
Variable life insurance policies in Godfrey, IL differ from other life insurance policies in that the policyholder has more flexibility in terms of how their premiums are invested. This form of life insurance combines features of both investment accounts and life insurance, providing protection for loved ones in the event of death while also offering potential returns on investment. Variable life insurance policies can allow for quick and easy adjustment of the policyholder’s premium payments based on their current financial situation, which is beneficial for those living in the Godfrey, IL area of varying incomes.
Can I cancel my policy after getting variable life insurance quotes in Godfrey?
Absolutely, Godfrey, IL residents are able to cancel their variable life insurance policy at any time. Canceling your policy may cause you to incur a surrender charge, so it’s best to check with your specific insurance provider for details on any applicable fees. If you are considering canceling your policy, it's worth considering alternative options for cash-value to redeem or alternatives investments you may wish to consider doing with those funds. Consulting your insurance provider will help you make the best decision for your situation.
Can I withdraw or borrow from a variable life insurance policy Godfrey?
Godfrey, IL is a great place to ask questions about withdrawing or borrowing from the cash value of a Variable Life Insurance policy. Generally speaking, most GSUL policies allow policyholders to withdraw up to 75% of the cash value of their policy, while others allow only up to 10%. It's important to understand that the withdrawal or loan is a taxable event. To find out if this type of transaction is allowed on your policy, contact your local agent in Godfrey, IL to learn more.
Do I need to understand investments for variable life insurance near Godfrey?
No, you don't need to be investment-savvy to purchase variable life insurance in Godfrey, IL. Instead, it's often best to seek out a reliable insurance agent to help you make an informed decision. A qualified and experienced agent in the local area can walk you through the process of buying an insurance policy, discuss the potential risks and rewards associated with variable life insurance, and help you choose the right plan and coverage amount for your unique needs and financial goals.
How does a variable life insurance quote Godfrey handle dividends?
Godfrey, IL residents investing in variable life insurance should familiarize themselves with how dividend treatments work. Declared dividends typically accumulate as cash value within the policy and can be withdrawn or used to buy additional insurance. The money may also be used to pay any policy premiums, fees and charges, with the remaining amount available for cash withdrawal or loan. Ultimately, dividends come with the flexibility to be used as the policyholder sees fit, making investing in variable life insurance a great choice for Godfrey residents.
Variable Life Insurance can provide short-term coverage needs in certain circumstances, depending on the specific needs of the policyholder. For example, Godfrey, IL residents may choose Variable Life Insurance to create savings or to provide funds to pay for college tuition and other expenses. Additionally, Variable Life Insurance provides the flexibility of changing the death benefit amount in order to adjust levels of coverage in response to changing needs and goals. Because Variable Life Insurance can be tailored to meet the specific needs of Godfrey, IL residents, it can provide the financial protection and flexibility necessary for short and long term coverage needs.
Do variable life insurance policies near Godfrey provide guarantees on returns?
Variable life insurance policies can offer excellent investment potential; however, there are never any guarantees when it comes to investments. In Godfrey, IL, policyholders should remember that there are no guarantees that they will reach their financial goals and they should not only consider their own financial needs but also the potential risks when investing. People should do their research and consult with an expert before investing in any variable life insurance policy.
Can I change investment options for variable life insurance in Godfrey without tax effects?
For Godfrey, IL residents, yes it is possible to switch between investment options without tax implications. However, it is important to familiarize yourself with the rules and regulations of the IRS to ensure that any changes you make are within the tax-free guidelines. Federal, state, and local tax laws can be complex and vary from city to city, so consulting with an experienced financial adviser prior to making any modifications to your investments is recommended. Investment policies and options change regularly so it is wise to keep your financial portfolio up to date.
How does my Godfrey variable life insurance policy handle loan interest?
Godfrey, IL residents considering a variable life insurance policy loan should be aware that interest applied to policy loans varies depending on the type of policy. Typically, the policy loan interest is applied to the account value and may reduce the cash value and death benefit. It is important to speak with a qualified financial advisor regarding specific policy loan interest rates and other costs that may apply to the policy.
Do I get dividends from my Godfrey variable life insurance company?
Godfrey, IL customers of variable life insurance can potentially receive dividends from investments within the policy. Depending on the type of investments chosen, dividends can potentially be paid by the carrier directly to the policy in cash or be used to purchase additional units. Dividends can also be used to reduce or fully pay the policy's premiums, allowing the policy to remain in force. Policyholders should consult with their insurance agent for more information.
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