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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 Gurnee, IL Variable Life Insurance policy providers in as little as 15 minutes. Save time. Save big. Get started now.
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Over 37 policy provider comparison.
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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
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Finding the perfect life insurance policy starts with answering a few questions to help us serve you better.
Step 2
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Discuss your options with a licensed insurance agent. Compare plans to find the best policy & cheapest rates.
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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 Gurnee, 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 Gurnee, IL.
Frequent Questions...
Those who live in Gurnee, IL and want a versatile retirement planning tool with tax-advantaged benefits may want to consider purchasing variable life insurance. Variable life insurance allows individuals to customize their policy according to their retirement goals and financial needs. With variable life insurance, one can access their policy's death benefit, accumulate cash value, and customize their premium payments and contributions. Moving forward, the policy owner can adjust, add on, or tailor their policy to their future goals and financial objectives.
Do variable life insurance quotes in Gurnee come with a cash surrender value?
Yes, variable life insurance does have a cash surrender value in Gurnee, IL. It is the amount of money that will be paid out if the policyholder chooses to surrender or cancel their policy before it matures. This amount is different for each policy and will depend on various factors such as the individual's age, the length of the policy term, and the performance of the underlying investments. Variable life insurance in Gurnee, IL also typically offers policyholders the flexibility to adjust their coverage as needed, which can give them greater control over their insurance costs and provide peace of mind.
What are the tax aspects of a variable life insurance policy Gurnee?
Tax implications for variable life insurance will vary depending on the policy holder's residence. Gurnee, IL residents should be aware that there could be tax implications associated with income generated from cash and withdrawals from a variable life insurance policy such as premiums, dividends, refunds, etc. Some of these tax implications may include federal and/or state income taxes, alternative minimum taxes, taxable Social Security benefits, capital gains taxes and/or death taxes.
Do I need to understand investments for variable life insurance near Gurnee?
While knowledge of investments is not a requirement for purchasing variable life insurance in Gurnee, IL, it admittedly can be beneficial. The ability to understand investments allows you to select funds that can grow your cash value, which is the build up of savings that you can draw upon in the future. Without an understanding of investing concepts you could be putting your life savings at risk. That said, there are insurance professionals in Gurnee available to help you make informed decisions and guide you in the direction that is right for you.
What are the surrender fees for a variable life insurance quote Gurnee?
The surrender charges for variable life insurance policies vary depending on the state in which you live, but in Gurnee, IL, surrender charges in the early years of the policy tend to range from 8% to 15%. Surrender charges typically decrease as the policy matures, with no penalties assessed after 10 to 15 years. It’s important to note that this rate is just a general estimate and could vary depending on insurance company and the type of policy you have. To find out what the exact surrender charges are for your policy, reach out to your insurance provider.
Variable life insurance can be a great solution for short-term coverage needs in Gurnee, IL, as it offers a lot of flexibility and financial control. It is a type of life insurance policy that allows you to choose how you want your premium dollars invested, either by investing in professionally managed mutual funds or by more actively managing your policy on your own. This type of life insurance has a minimum guaranteed death benefit, but you can also customize the coverage amounts and payout schedules to fit your short-term coverage needs.
How flexible are premium payments for variable life insurance policies near Gurnee?
Premium payment flexibility can vary depending on the type of variable life insurance policy that you purchase in Gurnee, IL. Many policies allow you to make flexible payments, such as adapting the frequency or amount of payments whenever you need to. There are also some policies that allow for a single premium payment, which can be used to purchase additional coverage in the future. Certain policies also offer the option to use money from another source, such as an IRA or a 401k plan, to pay the premiums instead of using your direct income.
How can I monitor performance of my variable life insurance in Gurnee?
In Gurnee, IL you can track the performance of your variable life insurance investment by looking at a few places. First, log in to your life insurance account online and view your recent transactions and returns. Secondly, speak with a trusted financial or insurance advisor to request a performance report. Lastly, contact the company that is issuing your variable life insurance and find out about the available investment returns. By taking these steps, you can get an accurate view of investment performance and ensure that your money is working for you.
Is the cash value in my Gurnee variable life insurance policy safe from creditors?
Yes, in Gurnee, IL variable life insurance policyholders can rest assured that the cash value component of their policy is generally protected from creditors (both state and federal law). The policy can and must meet the requirements outlined by the Illinois Life and Health Insurance Guaranty Association to be considered “protected” from creditors. Typically, this means that a policyholder has to provide proof of insurance exercises, valid beneficiaries and the fact that the cash value is not considered the policyholder’s asset.
Can I convert from term life insurance with a Gurnee variable life insurance company?
Yes, you can convert your term life insurance to variable life insurance in Gurnee, IL. It is important to consider your current individual financial situation and determine if this is the best option for you. Before making a decision, you should reach out to a qualified financial advisor in the Gurnee, IL area to discuss the potential advantages and disadvantages of converting your term life insurance to variable life insurance. The advisor can help you assess your current financial objectives and determine if converting your policy provides the best benefits to meet those objectives.
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