Variable Life Insurance in Stonecrest, GA

How is variable life insurance Stonecrest different from other policies?

Variable life insurance policies offered in Stonecrest, GA are different from other life insurance policies because they are composed of two parts: the death benefit and a cash value portion. The death benefit portion is similar to many other life insurance policies in that it pays out a designated amount specified by the policyholder upon their death. In contrast, variable life insurance policies also feature an investment portion tied to the performance of different sub-accounts. These sub-accounts can offer either stock market investing with greater potential for a higher return or low-risk investment accounts with the security of lower returns.

Do variable life insurance quotes in Stonecrest come with a cash surrender value?

At Stonecrest, GA, variable life insurance provides many benefits, one of which is the ability to receive a cash surrender value. This value is determined based on the type of policy and the amount of cash value that’s been accumulated. Contacting a qualified agent at Stonecrest, GA will help to ensure you are aware of all of the benefits offered by variable life insurance, including the cash surrender value. Since the policy and the current cash build value will determine the total value of the surrender, it pays to consult with a licensed expert in the area to make an informed decision.

Can I withdraw or borrow from a variable life insurance policy Stonecrest?

At Stonecrest, GA, you can use your variable life insurance policy to withdraw or borrow your cash value for various needs such as college financing, home purchase, and retirement planning. You'll need to consult your insurance provider and read the fine print, as there may be an early withdrawal penalty for accessing the money before a certain age. Also, there might be certain policy limits and variables involved depending on the policies of the provider and the Georgia governing insurance board. Speak with your policy provider to understand the parameters for withdrawal and borrowing from the cash value of your variable life insurance policy.

Do I need to understand investments for variable life insurance near Stonecrest?

No, you do not need to be investment-savvy to purchase variable life insurance in Stonecrest, GA. At most financial institutions, an experienced professional is available to guide you in selecting the policy that best meets your needs. Most providers offer customizable policies, with a variety of options that allow you to choose the features that are right for you and your financial goals. Additionally, many providers offer free consultations with experts or financial advisors who can review your current financial situation and investment goals, and help you determine what type of insurance best fits your individual needs.

Can I include riders in my variable life insurance quote Stonecrest?

Yes, you can add riders to your variable life insurance policy in Stonecrest, Georgia. The riders available vary with each policy, but typically include options for long-term care, disability, or health coverage. Depending on the specifics of your plan, you may also be able to add a death benefit guarantee, an accelerated death benefit, a waiver of premiums, and other options to customize the coverage to fit your needs. You should speak with your insurance agent about the riders available in Stonecrest and thoroughy review the policy terminology to ensure you understand the coverage you are getting.

Do Stonecrest variable life insurance companies have age limits?

Stonecrest, GA has no age restrictions for buying variable life insurance. However, the insurance agency will need to confirm that the applicant meets the financial requirements to purchase the policy. Applicants will need to provide proof of identity, and may need to provide additional information and documentation to prove they are eligible. Additionally, the policy purchaser must understand the inherent risks of purchasing variable life insurance. Stonecrest customers are advised to talk with a financial professional to learn about their risk tolerance and develop an appropriate investment strategy when purchasing a variable life insurance policy.

Can I upgrade variable life insurance policies near Stonecrest to another policy type?

At Stonecrest Financial, we understand that insurance needs can change over time. If you have a variable life insurance policy and are interested in upgrading to a different type of policy, we can certainly help. Our qualified and knowledgeable agents are available to discuss various policy options with you and to find the coverage that best meets your evolving needs. We offer a wide range of policies, including term life, whole life, and universal life insurance policies, to residents of Stonecrest, GA. Get in touch with one of our agents today to learn more and to get started on exploring upgrade options.

Are management fees for variable life insurance in Stonecrest similar to mutual funds?

At Stonecrest Agency, we understand that the management fees for variable life insurance and regular mutual funds can vary. Generally, variable life insurance policies tend to have higher management fees as compared to traditional mutual funds as they involve a much higher-risk investment portfolio and additional cost of managing this portfolio. In addition, these policies have an array of features and riders that accompany them and are not available in traditional mutual funds. As a result of these additional costs, variable life insurance provides the policyholder a more secure and stable return in comparison to mutual funds, which is why the management fees might be higher.

Can I use my Stonecrest variable life insurance policy for retirement savings?

Variable life insurance can be a great retirement savings vehicle for residents of Stonecrest, GA. This type of insurance provides flexible premium payments that are invested in a portfolio of stocks and mutual funds, providing growth potential over time. Patrons of variable life insurance in Stonecrest can benefit from having a variety of investment options to choose from, as well as tax-deferred growth on their earnings within the policy. Additionally, variable life insurance policies often come with access to experienced financial advisors that can help customers determine the best strategies for their retirement savings goals.

Do I get dividends from my Stonecrest variable life insurance company?

In Stonecrest, GA, variable life insurance policy holders may receive dividends if the investments perform well. Dividends are paid in relation to the performance of the investment vehicles contained in the policy and they can usually be applied to either reduce future premium payments or accumulate as cash values within the policy. However, it is important to note that dividends are not guaranteed and may vary from year to year based on the performance of the underlying investments. Therefore, it would be wise to consult with a qualified insurance professional prior to investing to determine if variable life insurance is suitable for your individual financial needs and goals.