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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 New Lenox, 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
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 New Lenox, IL.
Frequent Questions...
Variable life insurance in New Lenox, IL is a form of permanent life insurance that allows the policyholder to invest in competitive market investments, such as stocks, bonds, and mutual funds. It offers options and advantages that traditional life insurance policyholders do not have, such as the ability to increase your policy’s cash value over time. This form of insurance provides flexible premium payments and provides death-benefit protection along with the chance to accumulate cash value.
Can I use my variable life insurance quotes in New Lenox as collateral?
Yes, borrowers in New Lenox, IL may be able to use variable life insurance as collateral for a loan. It is important to note that the insurance must meet certain requirements, such as having a death benefit value that is greater than or equal to the loan amount. Additionally, the policy must not be encumbered by other loans or assignments. Borrowers should also be aware that life insurance policies may not be accepted by all lenders. It is therefore important to speak with a loan provider for specific guidance regarding acceptable forms of collateral.
How does the cash value work for a variable life insurance policy New Lenox?
Cash value is a key component of variable life insurance policies, especially when it comes to policyholders in New Lenox, IL. Unlike traditional life insurance policies, which usually don't offer any cash value, variable life insurance policies build cash value with each premium payment. This cash value is typically invested into a variety of money market instruments like stocks, bonds, and mutual funds. Over time, policyholders in New Lenox, IL have the opportunity to build up an extra fund of money that they can use during retirement or access in case of an emergency.
Is there a death benefit guarantee with variable life insurance near New Lenox?
Yes, variable life insurance can provide a guaranteed death benefit to policyholders in the New Lenox area. Many insurance providers guarantee that, no matter what happens to the value of your policy, your beneficiaries will receive a guaranteed death benefit at the time of your passing. This ensures that your loved ones will receive the financial security they need during a difficult time. In addition, in New Lenox, you may be eligible to receive additional benefits not offered with traditional life insurance products.
How does a variable life insurance quote New Lenox handle dividends?
Dividends declared in variable life insurance policies in New Lenox, IL are treated as additional cash value and credited to the policy owner's account. This additional cash value in the contract’s account can be used to purchase more insurance, for which there will be a correspondingly larger base benefit should the insured perish. The additional cash value can also be used to pay premiums, or be transferred out of the policy in the form of withdrawals or loans. Generally, all transactions will be treated as loans until the account value falls to zero.
Variable life insurance may be suitable for short-term coverage needs for some individuals in New Lenox, Illinois. It is important to evaluate the policyholder's current financial situation and their long-term financial planning objectives to determine whether or not variable life insurance is the best option for them. It is possible to decide to go with a more short-term solution, such as term life insurance, or if the policyholder is more focused on increasing wealth, they might decide to select variable life insurance as a possible solution that can offer them considerable financial potential in the future.
How flexible are premium payments for variable life insurance policies near New Lenox?
In New Lenox, IL, the premium payment flexibility offered by variable life insurance policies may vary from insurer to insurer. Generally speaking however, there are a vast range of payment options to choose from, making it easy to accommodate any budget or lifestyle. Whether you pay a single premium, an annual premium, or use installment payments, variable life insurance provides the flexibility to create the policy that fits your needs. You can also decide to pay the premium over an extended period of time, usually up to 10 years.
How regularly should I check my variable life insurance in New Lenox?
In New Lenox, IL, it's best practice to review your variable life insurance policy at least once every year in order to make sure that your coverage and needs are all still in alignment. This will help to ensure that you and your family are adequately protected with the appropriate coverage in the event of an unexpected outcome. Additionally, with the changing insurance landscape, you want to make sure that you are taking advantage of any new insurance products and benefits that may be available.
Is the cash value in my New Lenox variable life insurance policy safe from creditors?
Yes, in New Lenox, IL, the cash value of a variable life insurance policy is protected from creditors. This means that even if you are in a difficult financial situation, the money in the policy can’t be touched by creditors. As a rule of thumb, the insured generally will not have access to the policy funds, so it is a great way to ensure that your assets in this case, the cash value of the policyare protected from creditors and legal judgments.
How do loans affect death benefits with my New Lenox variable life insurance company?
Policy loans from variable life insurance policies issued in New Lenox, IL will reduce the death benefit payable when the owner passes away. The policy loan will be deducted from the death benefit amount, meaning that your beneficiary will receive only the remaining death benefit proceeds after the loan is paid. For this reason, it is important to make sure the policy loans taken out are reasonable and manageable to make sure your beneficiaries will receive the death benefit amount that you want them to have.
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