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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 Park Ridge, IL 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 Park Ridge, 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 Park Ridge, IL.
Frequent Questions...
Variable life insurance in Park Ridge, IL is an insurance policy which provides coverage for the policyholder's entire life, and the duration of the policy depends on the outline set by the policyholder. This type of policy allows the premiums to be diversified and investments can be allocated to subaccounts, which then determine the actual death benefit payable to beneficiaries. The benefits of variable life insurance are that they offer greater flexibility in risk management, provide access to fund options, and growth potential to build a nest egg.
Do variable life insurance quotes in Park Ridge come with a cash surrender value?
Yes, variable life insurance policies in the Park Ridge, IL region have a cash surrender value. Depending on the terms of the policy, policyholders can get access to cash from a variable life insurance policy, though this typically will decrease the death benefit and the length of the life insurance coverage. In some cases, the policy type, term, premiums, and other factors can determine the amount of the cash surrender value. It is important to contact an insurance advisor in Park Ridge, IL to get a clearer understanding on this type of life insurance and how to access its cash surrender value.
What are the tax aspects of a variable life insurance policy Park Ridge?
The tax implications of variable life insurance depend on the individual's residence, such as in Park Ridge, IL. Generally, the death benefit of a variable life insurance policy is not taxable. The tax implication of policy lapses or surrenders is also dependent on the individual's state of residence but might include paying taxes at the high-end marginal income tax rate or any applicable capital gains taxes. Other than the policy's death benefit, policyholders may be taxed for any funds withdrawn from the policy, depending on the balance of the cash value.
Do I need to understand investments for variable life insurance near Park Ridge?
No, you do not need to be investment-savvy to purchase variable life insurance in Park Ridge, IL. Such policies are designed to be customized to fit the individual needs of the policy owner, and can be tailored to meet the financial objectives of people with varying levels of investment background and experience. Many financial advisors and insurance agents in the area are available to provide guidance related to variable life policies, as well as understand the clients' financial interests to provide recommendations for the most suitable policy that accommodates those needs.
Can I include riders in my variable life insurance quote Park Ridge?
Yes, adding riders to a variable life insurance policy is a possibility. In Park Ridge, IL, you’ll work with your life insurance agent to figure out the best riders for your needs and budget. Common riders that can be added include term life insurance, disability income, long term care and even accidental death/dismemberment. Each life insurance company offers different riders with different benefit levels and availability, so it’s important to understand what’s available before making the decision to add riders to your policy.
Generally speaking, when it comes to variable life insurance, the minimum age for purchasing such policies is typically between 18 to 21 years of age, depending on the insurer. Park Ridge, IL based qualified insurance providers will be more than happy to provide you with the exact age restriction specific to their variable life insurance policies. In any case, before investing in a variable life insurance policy, you should ensure it meets your needs, and be sure to review all associated fees, terms, requirements, and conditions.
How does cash value growth influence death benefit with variable life insurance policies near Park Ridge?
In Park Ridge, IL the cash value growth of a variable life insurance policy impacts the death benefit by providing policyholders with the option to use it towards providing additional financial security to their beneficiaries. The cash value from the policy's investments can be used to increase the death benefit payout on the policy, leading to greater protection of the policyholder's assets in the event of their passing. The cash value growth also ensures that policyholders are able to take advantage of any potential gains in the investment market, providing further growth potential and passive income when needed.
Does all variable life insurance in Park Ridge offer the same investments?
No, not all variable life insurance policies offer the same investment options. In fact, depending on location, providers may offer different investment options. In the Park Ridge, IL area, some of these investment options may include stocks, mutual funds, exchange-traded funds (ETFs), annuities, and bonds. Additionally, some variable life insurance policies may offer the option to invest in a socially responsible portfolio that includes investments in clean energy, sustainable businesses, and companies that focus on human rights and social equity.
Can I use my Park Ridge variable life insurance policy for retirement savings?
Yes, variable life insurance can be used as a retirement savings vehicle in Park Ridge, IL. Variable life insurance is a type of life insurance policy that allows policyholders to invest a portion of their premium payments in investment choices such as stocks, bonds, and mutual funds. This type of policy allows policyholders to potentially experience greater financial growth than traditional life insurance policies. This type of policy also offers certain tax advantages that can help to increase retirement savings as well, as some of the money grows in the account tax-deferred.
Does my Park Ridge variable life insurance company offer a grace period for premium payments?
The answer to your question varies depending on the insurance company you work with in Park Ridge, IL. Many variable life insurance policies allow for grace periods for premium payments, but the exact timeframe for payments may vary. Ask your insurance provider in Park Ridge for the exact details on the grace period for your policy. Depending on the company you choose and the policy type, highly flexible payment terms may be available that suit your needs. Find out what options are available to you so you can make the best decision for your situation.
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