Variable Life Insurance, North Carolina

HomeLife Insurance, North CarolinaVariable Life Insurance, North Carolina

The appeal of investing in variable life insurance is often the ability to increase the value.

Variable life insurance is a type of permanent life insurance policy that comes with a built-in investment component. If you hold this type of policy, you have a cash-value account, which is invested in various accounts that fall under the policy. An investment sub-account is similar to a mutual fund in its actions, although it is only available within this type of life insurance policy. The policyholder of a variable life insurance policy has multiple sub-accounts available, with some policies having more than 50 different options.

Variable Life Insurance in North Carolina

As the investments in those sub-accounts grow, the cash value of the policy goes up. However, the variable nature of this policy means that downward shifts in the market can drop the value as well. The appeal of investing in variable life insurance is often the ability to increase the value, as annual increases in the cash value of the policy aren’t subject to the same tax requirements as standard income. You may also be able to access the value of the life insurance policy later in life, such as for collateral on a loan, and doing so rather than taking a direct withdrawal can reduce the taxation of the value as well.

At Elite Benefits Group, we work with both individuals and businesses to provide affordable life and health insurance options. Our services are available to those throughout the state of North Carolina, and we have a team of experts who can help you better understand the options available and choose what’s right for your needs and situation.

At Elite Benefits Group, we offer variable life insurance plans throughout North Carolina, including Monroe, Greensboro, Guilford County, Davidson County, Wake County, Union County, Mecklenburg County, Anson County, Stanly County, Cabarrus County, Robeson County, Columbus County, Wayne County, and Cumberland County.