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With PolicyHub you get to compare over 37 Lewiston, ME 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 Lewiston, ME. 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 Lewiston, ME.
Frequent Questions...
A variable life insurance policy in Lewiston, ME typically includes death benefit with a base policy or supplemental riders for additional protection; investment options which retirement savings or growth for long-term financial soundness; and flexible premium payments. The policy provides a taxable benefit upon the insured's death, or the beneficiary could elect to receive a fixed income stream or direct payments during the policy's term. The policyholder also has the potential for considerable tax savings, as the insurance premiums typically remain deductible from federal income and estate tax.
With variable life insurance quotes in Lewiston, how is the beneficiary impacted by investment performance?
Beneficiaries in Lewiston, ME can benefit from investment performance. As the investments perform well, the beneficiary's portfolio of assets can experience growth which could translate into either an increase in income or significantly increased savings. Investments can also pay out dividends that beneficiaries can use to supplement their income or to purchase goods and services. Additionally, investment performance can also result in greater capital gains which can be used to reinvest and further grow the portfolio and increase the benefits gained.
What are the tax aspects of a variable life insurance policy Lewiston?
The tax implications of variable life insurance in Lewiston, Maine vary based on the individual situation. Generally, any death benefit proceeds, dividends, or interest earned are not taxable to the policyholder. However, if policyholder withdrawals exceed the policy's cost basis, that income may be subject to federal and Maine income tax. If your policy is a MEC, or modified endowment contract, withdrawals before age 62 may be subject to an additional 10% tax penalty. Speak with a qualified tax consultant in Lewiston to determine the specific tax implications relevant to your situation.
Do I need to understand investments for variable life insurance near Lewiston?
If you are in Lewiston, Maine and interested in purchasing variable life insurance, you do not need to be an investment-savvy expert; an insurance professional in the area can provide you with expert guidance. They can help you gain an understanding of the variable life insurance, review your individual circumstances, and help you determine whether or not a variable life insurance policy is right for you. With the help of an experienced agent in Lewiston, ME, you'll understand the potentially complex investment strategies related to variable life insurance and can make an informed decision to meet your financial goals.
Is there a minimum guaranteed return with a variable life insurance quote Lewiston?
Variable life insurance policies are tailored to the individual's needs and can be a great way to have more control over your investment portfolio in Lewiston, ME. Variable life insurance does not typically offer a guaranteed return, however, it does offer the opportunity to take advantage of growth potential depending on the performance of the underlying investments. It's important to speak with a financial professional to understand the risks and benefits of variable life insurance to ensure that it is the right choice for you.
Lewiston, ME residents who purchase variable life insurance can benefit in many ways. Variable life insurance policies will typically provide individuals with larger policies focusing on cash value accumulation, generally offering access to investment options to build the cash value of these policies, as well as the potential for tax-deferred growth. Also, the insured may be able to control how the insurance proceeds are used, with flexible options for beneficiaries and policy ownership. The death benefit to the policy holderβs beneficiaries may also be increased to cover changing needs throughout life.
How does cash value growth influence death benefit with variable life insurance policies near Lewiston?
The cash value growth of variable life insurance in Lewiston, ME directly impacts the death benefit, as it serves as a backup should the policyholder not provide payments. If the cash value increases due to gains from the stock market, the death benefit increases. Conversely, if the cash value decreases, the death benefit is impacted as well. Depending on the policyholder, the death benefit could increase or decrease in value. It's important to remember, life insurance is not an investment, however, with variable life insurance, the cash value grows with the stock market.
Does all variable life insurance in Lewiston offer the same investments?
While all variable life insurance policies share certain features, they may not necessarily offer the same investment options. In Lewiston, ME, there are a variety of variable life insurance policies available, each with its own set of investment options tailored to meet the unique needs of the policyholder. As such, depending on the policy a Lewiston resident chooses, they could have access to different investments that could help them secure a wide range of financial goals.
How liquid is the cash value of my Lewiston variable life insurance policy?
The answer to how liquid the cash value in a variable life insurance policy is in Lewiston, ME, will depend largely on the type of policy and insurance company the policy is issued with. Generally, policies issued by a life insurance company based in Lewiston will be more liquid than those issued outside of the state. Additionally, some policies, such as whole life or universal life policies, may have greater liquidity than others in terms of the availability to access the cash value.
How do loans affect death benefits with my Lewiston variable life insurance company?
Policy loans from variable life insurance have the potential to impact the death benefit of a policy holder residing in Lewiston, Maine. These loans reduce the death benefit paid out by the policy, as the funds are typically utilized to increase the cash value and balance of a policy during its life. The terms and conditions of policy loans can vary by insurance provider, and it is important to become informed of any potential tax implications prior to taking out a policy loan.
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