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With PolicyHub you get to compare over 37 Worthington, OH 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 Worthington, OH. 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 Worthington, OH.
Frequent Questions...
A variable life insurance policy in Worthington, OH typically consists of three primary components: insurance, investment, and tax savings. The insurance portion of the policy provides protection for the policyholder's family in the event of the policyholder's death, and the investment component offers the opportunity for the policyholder to grow their death benefit and cash value over time through investing in different asset classes like stocks, bonds, and mutual funds.
Can I cancel my policy after getting variable life insurance quotes in Worthington?
In Worthington, OH, you can cancel a variable life insurance policy as long as you follow the terms and conditions of the policy. Depending on the specifics of your particular policy, you will likely need to submit a signed letter of cancellation to the insurance provider. It may be best to consult with a qualified professional who can explain the exact steps in the process. After submitting the cancellation, the insurance provider in Worthington may then follow a refund procedure. Most likely, it will take several weeks for the entire cancellation process to be completed.
What are the tax aspects of a variable life insurance policy Worthington?
Depending on where you live, the tax implications of variable life insurance in Worthington, OH can vary. Generally speaking, premiums paid on variable life insurance are typically not deductible for Federal or State tax purposes. However, some states allow for deductions, based on age, marital status, and the amount of premium paid. Life insurance policies have cash value, and any growth, or earnings, are taxed as ordinary income. Any withdrawals or loans that are taken from a variable life insurance policy may also be taxable, as they reduce the death benefit.
Do I need to understand investments for variable life insurance near Worthington?
You do not need to be investment-savvy to purchase variable life insurance in Worthington, OH since there are many financial advisors available who can provide you with expert advice on the right investments for you and your family. You can discuss your unique financial goals and objectives with a financial advisor and they can help you to determine which types of investments are best for your situation. Additionally, a financial advisor can also help you to make sure that you are receiving the best coverage from your variable life insurance policy.
Can I include riders in my variable life insurance quote Worthington?
Yes, many variable life insurance policies in Worthington, OH area have the option of adding riders, allowing you to customize the coverage as it fits your individual needs. The riders provide additional coverage features at an additional cost, which vary by policy but may include access to long-term care benefits, an accelerated death benefit, or a guaranteed insurability rider. Before deciding on a rider, review all the available options in your policy document. Speak with your life insurance provider to learn more about the riders they offer and help ensure your policy is meeting your personal needs.
In Worthington, OH, there are no age restrictions when purchasing variable life insurance. However, the regulations of the Ohio Department of Insurance require that customers purchasing life insurance need to be of legal age, up to the age of 70. Anyone over the age of 71 will need to meet other requirements, such as a medical exam, to qualify for coverage. It's worth noting that life insurance policies are subject to approval and vary depending on the provider's specific terms and conditions.
How flexible are premium payments for variable life insurance policies near Worthington?
At Worthington, Ohio's representative life insurance agency, we provide our customers with flexible premiums and payment options for their variable life insurance. The type of policy and specific levels of coverage available will determine the degree of flexibility, but we work hard to provide our clients with a host of options so they can make the best choices for their needs. It's our job to help our policyholders choose a solution that works best for them, and our life insurance experts are always available to discuss adjustabilities with premium payments.
Can I change investment options for variable life insurance in Worthington without tax effects?
Yes, you can switch between investment options without tax implications in Worthington, OH, as long as you make the transfer within a qualified retirement account, such as an IRA or 401(k). As long as your account remains in the same type of retirement plan, the transfer will not incur any taxes due or penalties. In addition, you can switch between certain types of investments within the same account without tax implications. This includes stocks, bonds, mutual funds, and even cash. Certain compound investments also allow for tax-free switches.
How liquid is the cash value of my Worthington variable life insurance policy?
The cash value of a variable life insurance policy in Worthington, OH depends on a number of factors, most notably the performance of the underlying investments associated with the policy. Generally speaking, the cash value of a variable life policy will be liquid, meaning the money can be accessed for use as needed. However, surrenders or withdrawals of cash value will reduce the death benefit and should be considered before withdrawing funds. It's important for policyholders in Worthington, OH to understand the provisions of their policy before attempting to access any of their cash value.
What's the typical duration of terms with a Worthington variable life insurance company?
The typical duration of a variable life insurance policy in Worthington, OH can vary, depending on the policyholder's individual needs-for some, it could last a span of just a few years, while for others it might span into multiple decades. Many policies offer a minimum guarantee period of up to 10 years with options for additional coverage if the policyholder desires. Ultimately, it is up to the policyholder to decide how long their variable life insurance policy should last and what benefits they wish to receive.
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