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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 Mounds View, MN. 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 Mounds View, MN.
Frequent Questions...
Variable life insurance policies are a unique type of life insurance that have both adjustable premiums and death benefits, making them an attractive choice for people living in Mounds View, MN. As your situation changes, you can adjust your premiums and death benefits to meet your needs and budget. Unlike fixed life insurance policies, where the premium remains the same over the life of the policy, with variable life insurance, the premium can be adjusted over time. This allows you to better match your insurance needs to your budget and situation as your life changes.
Can I cancel my policy after getting variable life insurance quotes in Mounds View?
Yes, you can cancel your variable life insurance policy in the Mounds View, MN area. Depending on the type of policy that you have, your insurance company may impose penalties or other fees if you decide to cancel before a predetermined date. To make sure you are aware of any cancellation fees or other policy changes that could occur when cancelling your variable life insurance policy, you should contact your insurance company directly to discuss the policies and procedures. Additionally, you should obtain documentation showing the cancellation date and any fees associated with canceling your policy, which may vary depending on your policy type.
What are the tax aspects of a variable life insurance policy Mounds View?
The tax implications of variable life insurance in Mounds View, MN, depend on the type of policy in question and individual circumstances. Generally, taxes are deferred until a policyholder takes a disbursement from a life insurance policy, at which point it might be taxed at the ordinary income tax rate. Additionally, if the funds are taken out faster than the policyholder has paid into the policy, the excess amount is subject to taxes. life insurance policyholders should always discuss taxes and other considerations with their financial advisors, as each person's individual situation is unique.
How transparent is the investment performance of variable life insurance near Mounds View?
Folks in Mounds View, MN who are considering investing in variable life insurance can be assured that their performance is made transparent through various informational reporting documents. The vesting account statement (VAS) informs policyholders of cumulative values of investments, including any premiums paid, total and current accumulated values. Additionally, the Variable Insurance Product Summary (VIPS) reveals initial charges, ongoing expenses, and other relevant fee information. These documents are useful for policyholders to evaluate the investment performance as they can compare expected versus actual returns. It's important to make informed decisions, so transparency is key.
Can I include riders in my variable life insurance quote Mounds View?
Yes, you can generally add riders to your variable life insurance policy in Mounds View, MN. Riders are policy add-ons which give you extra coverage in the event of an unforeseen circumstance. For example, if you become disabled, you could add a disability waiver of premium rider which would waive your premium payments while you are unable to work. If you want to add coverage for long-term care, you could add a long-term care rider which would help pay for costs associated with a stay at a nursing home or assisted living facility.
Variable life insurance is a viable option for short-term coverage needs in Mounds View, MN. This type of insurance typically provides a death benefit and accumulates cash values that can potentially provide additional economic security and flexibility. It also offers the potential for policyholders to take part in the stock market through subaccounts. Premiums may be higher than other types of insurance, but the growth potential the subaccounts provide helps with budgeting needs as well as ensuring that you have enough coverage if your lifestyle and needs change over time.
How does cash value growth influence death benefit with variable life insurance policies near Mounds View?
In Mounds View, MN, cash value growth in variable life insurance can have an impact on the death benefit, as it may increase the overall benefit for the beneficiary. Cash value growth in this type of insurance means that the money set aside will generate a return, which adds to the overall benefit value. So as the cash value grows over time with adjustments like premiums and even investments the death benefit may increase as well.
Can I change investment options for variable life insurance in Mounds View without tax effects?
Yes, within Mounds View, MN, you can switch between investment options without incurring tax implications if you transfer assets within the same custodian or perform a trustee-to-trustee transfer. These are called "Rollover IRAs" and allow you to move funds between financial institutions without triggering a tax liability. If you do make a mistake and the transaction is considered a withdrawal, you may be required to pay taxes on the amount plus an early withdrawal penalty if you are under the age of 59.5.
Is the cash value in my Mounds View variable life insurance policy safe from creditors?
Yes, in Mounds View, Minnesota, variable life insurance policyholders are generally protected from creditors. Depending on the state laws governing the policy, cash value and any associated loans or dividends may be guarded from the policyholder’s creditors’ reach. Specifically, in Minnesota, policyholders are provided with valuable protections as demonstrated by the Minnesota Statutes, which offer an exemption from forced liquidation of the policy if it shows a surrender value of no less than $50,000 and the policyholder is more than one and a half years from age sixty-five, or is disabled.
What's the typical duration of terms with a Mounds View variable life insurance company?
The typical duration of a variable life insurance policy in Mounds View, MN can vary, as it is dependent on the individual needs and requirements of policyholders. Most variable life insurance policies in the area tend to be annual or ‘term’ policies, with lengths that range from one to twenty years. However, if the policyholder feels that they may require the policy for a longer period of time, they may be able to obtain a ‘permanent’ policy such as a whole life or universal life that is provided with specific death benefit protection.
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