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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 Normal, 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.
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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 Normal, IL.
Frequent Questions...
Variable life insurance policies in Normal, IL differ from other life insurance policies in that clients have more control for how the money is invested. These policies provide a combination of insurance protection and a savings account so that policyholders can put money away for the future while also acquiring death benefit coverage. Additionally, unlike other life insurance policies, variable life insurance allows its policyholders to choose where their investments go, such as stocks and bonds. Fund values take into account underlying investments, and policyholders can change their investments as often as needed.
Can I cancel my policy after getting variable life insurance quotes in Normal?
In Normal, IL, you can cancel your variable life insurance policy if you no longer wish to keep it. You should contact the insurance provider or your financial advisor who sold you the policy for more specific instructions on how to cancel. The provider may charge a fee for terminating the policy prematurely and they may also require you to fill out a form in order to complete the cancellation. Depending on the type of policy you have, it may take one or more business days to process the cancellation. In some cases, you may also need to return the policy document to the insurer.
With a variable life insurance policy Normal, can I decide where my premiums are invested?
Yes, if you purchase variable life insurance with a Normal, IL provider, you have the freedom to determine where your premiums are invested. While some life insurance providers limit you to a specific list of pre-selected options, variable life insurance offers you the ability to invest in a variety of available options such as stocks, bonds, and mutual funds that are tailored to your personal goals. With variable life insurance, you may be able to check a comprehensive portfolio performance report for assistance in selecting and maintaining your investments. Do keep in mind that investment risk is entirely borne by you and not the insurance provider.
How transparent is the investment performance of variable life insurance near Normal?
Transparency for Variable Life Insurance investment performance is crucial, especially in Normal, IL. This type of life insurance allows policyholders to invest in a variety of stocks, bonds, mutual funds, etc. to help maximize their return. To help ensure individual investors have the necessary amount of transparency, there are daily and monthly performance reporting for each specific product offered. The most updated financial performance information is provided to each policyholder, helping to ensure they make informed decisions regarding their investments. Additionally, Normal, IL-based licensed professionals are always available to discuss any of the investment options and their associated risks.
Can I include riders in my variable life insurance quote Normal?
Yes, you can add riders to your variable life insurance policy in Normal, IL. Many life insurance providers in the area offer customizable plans that allow you to add extra coverage. Riders provide benefits such as accelerated death benefits, waiver of premium, disability income, and long-term care. You can even tailor them to meet your individual needs and get advantages such as a secure family income or an increase in coverage without raising premiums. Discuss your specific needs with an insurance specialist to determine the best policy riders for you.
In regards to fund transfers within the policy, Normal, IL policyholders should be aware that there may be certain restrictions or limitations that are specific to this area. Typically, these include services such as FCMs, the use of banks, and other fund transfer outlets. For the most up-to-date information, policyholders in Normal, IL should contact their preferred financial institution or the governing authority to find out exactly what types of funds can be transferred and any applicable regulations. Additionally, it is also important to be aware of the fees and taxes that may be associated with fund transfers.
How does cash value growth influence death benefit with variable life insurance policies near Normal?
In Normal, IL, death benefits from variable life insurance are impacted by cash value growth. As the policyholder pays premiums, the cash value in the policy increases, resulting in an increased death benefit for beneficiaries. This death benefit may be secured for the beneficiary so that no matter the performance of the underlying investments in the variable life insurance policy, the death benefit remains in place. As wealth builds up within the policy, the death benefit increases with it. Therefore, cash value growth within the policy allows the death benefit to increase so that Normal, IL beneficiaries can gain the maximum benefit from their policies.
How regularly should I check my variable life insurance in Normal?
In Normal, IL, it is a good idea to review your variable life insurance policy at least once a year. As life changes, such as starting a new job or getting married, it is important to make sure your policy is still fitting your current needs. Staying up to date on current policy rates and changes in your life can help you make sure your policy continues to meet your goals as a policyholder.
How does my Normal variable life insurance policy handle loan interest?
In Normal, IL, the policy loan interest on variable life insurance is typically treated as a debt to the policyholder, as it is the responsibility of the policyholder to make direct payments of the loan with interest. Since the loan is secured by the cash value of the policy, any outstanding balance of the loan plus interest will be deducted from the death benefit before it is paid to the beneficiary in the event of the policyholder's death. It is therefore important to understand and carefully consider the consequences of taking the loan prior to entering into the policy loan agreement.
Do I get dividends from my Normal variable life insurance company?
Yes, depending on the investments you make within your variable life insurance policy in Normal, IL, you are likely to receive dividends. These dividends, depending on the type of investment, can provide you with another income stream. Diversifying your investments can help in achieving your financial goals, such as providing additional retirement income or offsetting the costs of your insurance policy. Talk to your insurance provider in Normal, IL about how diversifying your investments can work for you and whether or not your current portfolio is likely to generate dividends.
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