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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 Worthington, MN. 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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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 Worthington, MN.
Frequent Questions...
A variable life insurance policy is an important part of financial planning in Worthington, MN. This type of policy offers coverage for the policyholder's entire life, while offering the ability to select from various investment options. The primary components of a variable life insurance policy include premiums, death benefit, cash value, and investment options. Premiums are set at levels that the insured could realistically maintain and when the insured passes away, the death benefit is what is paid out to the designated beneficiaries.
Do variable life insurance quotes in Worthington come with a cash surrender value?
Yes, variable life insurance policies in Worthington, MN do have a cash surrender value. This value is determined by the amount of money that is accumulated inside the policy, including premiums paid and dividends, less any loan balance. The variable life insurance policy owner is able to access this cash surrender value at any time to put to use for any number of different purposes. Additionally, any cash surrender value left in the policy after the owner’s death will be paid out to the designated beneficiary.
With a variable life insurance policy Worthington, can I decide where my premiums are invested?
Absolutely, with variable life insurance in Worthington, MN, you are able to choose the specific investments where you would like to place your premiums. Each policy is customizable according to the individual and you have the option to choose investments that are best for you. Moreover, several different types of investments are available, including stocks, bonds, mutual funds, and more,giving you the flexibility to make a selection based on distinct financial goals. Additionally, you will have access to up-to-date investment information and strategies offered by the plan so you can make better informed decisions.
What fees are there with variable life insurance near Worthington?
At Worthington, MN-based Statewide Insurance Company, we provide variable life insurance policies with fees that vary depending on the type of policy and amount of coverage. However, these fees usually include the costs related to policy setup, which often include introductory interest rates, a policy fee, and an industry-standard administrative fee. In addition, you can expect to pay a fee for each investment product you select to invest your policy’s cash value. These fees can be set up on a monthly, quarterly, and sometimes even annual payment schedule.
What happens if my variable life insurance quote Worthington underperforms?
If your chosen investments perform poorly in Worthington, MN, you should review your goals and financial strategy and consider making adjustments. You may need to reallocate your portfolio, add more diversification, or look into other investment opportunities. Additionally, it is important to understand the potential risks that accompany any investment and to adjust the amount of capital you are putting towards any particular investment depending on your individual portfolio objectives. The key is to remain proactive and to minimize losses, while attempting to maximize your returns.
Residents of Worthington, MN can count on variable life insurance for numerous benefits. From lifetime protection from a death benefit to flexible policy options, this type of life insurance is a great way to secure a sound financial future. Variable life insurance allows policy holders to choose an investment mix tailored to their individual needs, so they can better control their rate of return. Additionally, variable life insurance premiums have the potential to generate tax-free gains that are sheltered from current taxes. It is also possible to make withdrawals or take loans during retirement, allowing policyholders to begin withdrawals from tax-deferred policies.
How does cash value growth influence death benefit with variable life insurance policies near Worthington?
In Worthington, Minnesota, the cash value growth in variable life insurance can play an important role in the death benefit for policyholders. This is because the cash value is added to the base policy coverage to help increase the total death benefit. An additional benefit is that policyholders can sometimes use the cash accumulation to cover the policy’s premiums, making it easier to maintain coverage. This can be especially beneficial to families in Worthington as the cash value growth allows the death benefit to keep up with inflation.
How regularly should I check my variable life insurance in Worthington?
It is important to review your variable life insurance policy regularly to ensure it is meeting your changing needs and financial goals. In Worthington, MN, we recommend meeting with a financial advisor or insurance provider at least once a year to review your policy. They can help you assess if your policy is up to date, what adjustments should be made, and how to maximize the benefits of your coverage. It is also worthwhile to read through your policy and check for any changes in the market that may affect your investment.
Is my Worthington variable life insurance policy considered permanent life insurance?
Variable life insurance is a type of permanent life insurance which a Worthington, MN resident may want to consider for coverage. Variable life insurance offers flexibility for policyholders, enabling them to choose from a variety of mutual funds and other investments to determine the growth and performance of their policy. Like other types of life insurance, variable life insurance may allow policyholders to benefit from tax-deferred growth potential of their investments and provide protection to their beneficiaries.
How do loans affect death benefits with my Worthington variable life insurance company?
Policy loans taken from variable life insurance policies in Worthington, MN impact the death benefit in several ways. Specifically, the death benefit will decrease by the amount of any loans taken as well as the accrued interest, unless the policy is in paid-up status. Additionally, since loans taken from variable life insurance policies are not tax-free withdrawals, the policy may have to pay taxes on the amount once the death benefit is paid out.
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