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With PolicyHub you get to compare over 37 Westwood Lakes, FL 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 Westwood Lakes, FL. 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
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Mark Sidway
Variable Life Insurance agent
Mark Sidway is a Variable Life Insurance agent licensed in your state.
Cale Reeves
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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 Westwood Lakes, FL.
Frequent Questions...
Variable life insurance is an insurance policy that offers flexible premiums and death benefits, and the ability to adjust according to your budget. With variable life insurance policy, policyholders in Westwood Lakes, FL have the freedom to choose how their premiums are invested, allowing them to reap higher returns than traditional life insurance policies. Since the policy value is affected by the performance of the investments you choose, it is important to understand the risks associated with this type of policy before obtaining it.
Do variable life insurance quotes in Westwood Lakes come with a cash surrender value?
Yes, variable life insurance policies have a cash surrender value if they are issued in Westwood Lakes, FL. This is a type of value associated with these policies that can be used by policyholders to access their funds in the event of a hardship or if they need money for another purpose. The cash surrender value is dependent on the type of variable life insurance policy purchased, how long it has been held, and other factors. Westwood Lakes, FL residents can access a cash surrender value associated with their policy if it is beneficial to them.
What are the tax aspects of a variable life insurance policy Westwood Lakes?
In Westwood Lakes, FL, variable life insurance has several tax implications that policyholders should be aware of. First, the premiums are not deductible for federal income tax filing purposes. In addition, the cash value in the policy accumulates on a tax-deferred basis, which means tax may eventually be owed at the time of a withdrawal; the policy owner will then need to report this income in the applicable federal and state tax return forms. Any death benefits received from the policy are generally tax free to the beneficiary.
Do I need to understand investments for variable life insurance near Westwood Lakes?
While it is helpful to have an understanding of investment options when considering variable life insurance in Westwood Lakes, Florida, it is not a requirement. You can work with an insurance agent to determine the best options for the amount of coverage you need and the amount of risk you are comfortable with. They can help you determine the type of investments to include in your variable life insurance policy, as well as provide advice on how to manage them. Your insurance agent can also explain tax implications, the pros and cons of different investments, and the potential risks associated with them.
Can I include riders in my variable life insurance quote Westwood Lakes?
Yes, you can add riders to your variable life insurance policy, and this is a great option for those living in Westwood Lakes, FL. Riders allow you to customize your policy to meet your specific goals, and they provide additional protection and benefits to enhance your basic life insurance coverage. Depending on the rider, you may have access to death benefits, living benefits, additional funds, access to funds at critical times, and more. Speak with your insurance provider to explore the various options available and find the best one for you.
Residents of Westwood Lakes, FL can leverage the many benefits of variable life insurance to best meet their needs and financial goals. Variable life insurance allows policyholders to enjoy the ability to benefit from additional investment options, policy cash value, and the potential for death benefits. This can provide policyholders in the Westwood Lakes area the convenience of a death benefit within a flexible investment portfolio. Variable life insurance can help policyholders to accommodate a more sophisticated financial planning strategy by providing the advantage of greater stability and protection for their family in the event of an untimely death.
Can I direct specific investment strategies for variable life insurance policies near Westwood Lakes?
In Westwood Lakes, FL, policyholders cannot dictate specific investment strategies for their policy's cash value, as investments are made by the insurance company in accordance with their discretion. However, policyholders can work with an insurance professional to explore options that may give them the best possible outcome for their individual situation. There are certain insurance products, such as index universal life policies, that offer the potential for greater investment returns while providing protection for policyholders. Ultimately, the insurance company will look to diversify investments and seek to help policyholders reach their goals.
Does all variable life insurance in Westwood Lakes offer the same investments?
No, not all variable life insurance policies offer the same investment options. In Westwood Lakes, FL, some policies may offer a more diverse selection of investment opportunities, including stocks, bonds, mutual funds, and exchange-traded funds. Other policies may only offer a limited number of investments, such as treasury bonds and guaranteed investment certificates. It's important to carefully review the investment options of any policy before committing, to make sure the coverage is tailored to the individual policyholder's needs and risk tolerance.
How does my Westwood Lakes variable life insurance policy handle loan interest?
Variable life insurance policies vary, but typically policy loan interest must be paid each year. In Westwood Lakes, FL, policy loan interest paid on loans from the contract can be paid from the accountโs assets or can be added to the loan balance, raising the future loan interest rate. Alternatively, policyholders may make payments directly to the policy company to reduce the loan balance, though these payments are not deductible for federal tax purposes. Policyholders should read their contracts to be sure what options are available to pay loan interest since this varies from policy to policy.
How do loans affect death benefits with my Westwood Lakes variable life insurance company?
If you live in Westwood Lakes, Florida and you're considering a policy loan from a variable life insurance policy, it's important to understand how it impacts the death benefit. Generally, the death benefit may decrease when you take out a policy loan because the loan will need to be repaid plus interest. This repayment usually comes from the cash value of the policy, so any outstanding loan balance when the policyholder passes away can reduce or even eliminate the death benefit payout, leaving less for beneficiaries.
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