Variable Life Insurance New York

Variable life insurance allows people to purchase insurance policies and have the insurance company invest the premiums to allow for the growth of the policy in a tax-sheltered account.


1 . Local Companies

Mr. Michael H. Fliegelman (RFC®), CHFC, CLU
631 806 3568
5 Harborfields Ct
Greenlawn, NY
Mr. Michael W. Diaz (RFC®)
631 478 6771
150 Motor Pkwy Ste 200
Hauppauge, NY
Allstate Auto Insurance
(888) 355-7971
350 Washington Ave
Brentwood, NY
Allstate Auto Insurance
(888) 355-7971
250 Quaker Rd
East Aurora, NY
Allstate Auto Insurance
(888) 355-7971
3699 W Henrietta Rd
Rochester, NY
Lee Cameron
315 Madison Avenue
New York, NY
Mr. Paul A. Strebel (RFC®), CFP, CPA
607 275-1275
944 Dryden Rd.
Ithaca, NY
Mark J. Snyder (RFC®), CHFC, CLU, RFP
631 289 4224
1731 North Ocean Ave., Suite A
Medford, NY
Allstate Auto Insurance
(888) 355-7971
1209 Jerome Ave
Bronx, NY
Allstate Auto Insurance
(888) 355-7971
31 W Merrick Rd
Freeport, NY
Data Provided by:
    

2 . Explanation of Variable Life Insurance

Most people are familiar with what is called whole life insurance. In this type of insurance policy, the holder purchases a policy for a set amount each month. This monthly premium typically changes little, if any, over the course of the policy. The payout on these policies also is set at the signing of the contract.

Variable life insurance works a bit differently, however. In this type of policy, the policyholder buys the policy based on the investment of a certain amount of capital. This money then is invested in various stocks or mutual funds, depending on the insurance company offerings and the owner's choice, and the money earned through this investment is used to determine the payout for the policy.

This type of insurance policy works for people who have significant money to invest in the policy and who want a temporary tax shelter for that money. For other people, though, the variable life insurance policy is more work than they want in a life insurance policy. The whole life policies can be a better choice because they give a guaranteed payout and payment every month.

The variable life insurance policy has the potential to be worth more money, however, and has the benefit of being useful if the person does not want to pay for the policy indefinitely.

3 . Tax Advantages of Variable Life Insurance

Variable life insurance policies have an interesting advantage over regular life insurance policies and investments. For the most part, money made through investments is taxed annually as part of a household's income. Because life insurance policies are intended to cover expenses and liabilities in the case of death, the federal government does not tax any money made from investing variable life insurance funds.

This tax advantage basically means that the life insurance policy can continue to earn money without the holder paying anything at the time. The money earned in one year continues to grow over time as the money is reinvested throughout the life of the policy.

Holders of variable life insurance policies do have the option of getting out of the policy, however. These policies have a "cash value," which is the amount the person can get at a certain point in time by cashing out the policy. If the person opts for the cash-out of the variable life insurance policy, then the government taxes all of the interest earned as income tax. Knowing how much of this money will go toward income tax payments is helpful in determining the real value of cashing out the policy or leaving it until one dies, then allowing it to roll over to the estate. These decisions can get very complex quickly.

4 . Benefits of Getting Variable Life Insurance

The primary benefit of a variable life insurance policy is that the owner of the policy can opt to cash out the policy to receive money rather than waiting for others to inherit the money. With whole life insurance, you will lose out on any money you have paid toward the premium if you opt not to pay or cannot pay any longer. With a variable policy, however, you will be able to get certain cash value, based on the growth of the investments associated with the policy, if you need to cancel the policy.

Variable life insurance policies also grow so that you can get more money than you anticipated if your insurance company is able to offer sound investment choices for this policy. The insurance policy does not stagnate. With whole life policies, some people feel they are paying into a system without much choice in how much they are paying or how much they will get. With a variable life insurance policy, the policyholder is able to exert more control over the final dollar amount he or she will receive because of the investment property of the policy.

Another major benefit is that the money earned on investing the premiums is tax-sheltered instead of being taxed as household income as would happen with other types of investments.
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- Variable Life Insurance Endicott NY
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- Variable Life Insurance Far Rockaway NY
- Variable Life Insurance Farmingdale NY
- Variable Life Insurance Farmingville NY
- Variable Life Insurance Floral Park NY
- Variable Life Insurance Flushing NY
- Variable Life Insurance Forest Hills NY
- Variable Life Insurance Franklin Square NY
- Variable Life Insurance Fredonia NY
- Variable Life Insurance Freeport NY
- Variable Life Insurance Fresh Meadows NY
- Variable Life Insurance Fulton NY
- Variable Life Insurance Garden City NY
- Variable Life Insurance Glen Cove NY
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- Variable Life Insurance Great Neck NY
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- Variable Life Insurance Hauppauge NY
- Variable Life Insurance Hempstead NY
- Variable Life Insurance Hicksville NY
- Variable Life Insurance Hilton NY
- Variable Life Insurance Holbrook NY
- Variable Life Insurance Hollis NY
- Variable Life Insurance Hopewell Junction NY
- Variable Life Insurance Horseheads NY
- Variable Life Insurance Howard Beach NY
- Variable Life Insurance Huntington NY
- Variable Life Insurance Huntington Station NY
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- Variable Life Insurance Ithaca NY
- Variable Life Insurance Jackson Heights NY
- Variable Life Insurance Jamaica NY
- Variable Life Insurance Jamestown NY
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- Variable Life Insurance Kingston NY
- Variable Life Insurance Lancaster NY
- Variable Life Insurance Larchmont NY
- Variable Life Insurance Latham NY
- Variable Life Insurance Levittown NY
- Variable Life Insurance Lindenhurst NY
- Variable Life Insurance Little Neck NY
- Variable Life Insurance Liverpool NY
- Variable Life Insurance Lockport NY
- Variable Life Insurance Long Beach NY
- Variable Life Insurance Long Island City NY
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- Variable Life Insurance Mahopac NY
- Variable Life Insurance Malone NY
- Variable Life Insurance Mamaroneck NY
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- Variable Life Insurance Middle Village NY
- Variable Life Insurance Middletown NY
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- Variable Life Insurance Monroe NY
- Variable Life Insurance Monsey NY
- Variable Life Insurance Mount Kisco NY
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- Variable Life Insurance Nanuet NY
- Variable Life Insurance New City NY
- Variable Life Insurance New Hartford NY
- Variable Life Insurance New Hyde Park NY
- Variable Life Insurance New Paltz NY
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- Variable Life Insurance New Windsor NY
- Variable Life Insurance New York NY
- Variable Life Insurance Newburgh NY
- Variable Life Insurance Niagara Falls NY
- Variable Life Insurance North Babylon NY
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- Variable Life Insurance Oakland Gardens NY
- Variable Life Insurance Oceanside NY
- Variable Life Insurance Ogdensburg NY
- Variable Life Insurance Olean NY
- Variable Life Insurance Oneonta NY
- Variable Life Insurance Orchard Park NY
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- Variable Life Insurance Pearl River NY
- Variable Life Insurance Peekskill NY
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- Variable Life Insurance Plattsburgh NY
- Variable Life Insurance Port Chester NY
- Variable Life Insurance Port Jefferson Station NY
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- Variable Life Insurance Poughkeepsie NY
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- Variable Life Insurance Queensbury NY
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- Variable Life Insurance Rensselaer NY
- Variable Life Insurance Richmond Hill NY
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- Variable Life Insurance Riverhead NY
- Variable Life Insurance Rochester NY
- Variable Life Insurance Rockaway Park NY
- Variable Life Insurance Rockville Centre NY
- Variable Life Insurance Rome NY
- Variable Life Insurance Ronkonkoma NY
- Variable Life Insurance Roosevelt NY
- Variable Life Insurance Rosedale NY
- Variable Life Insurance Rye NY
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- Variable Life Insurance Saint James NY
- Variable Life Insurance Saratoga Springs NY
- Variable Life Insurance Saugerties NY
- Variable Life Insurance Sayville NY
- Variable Life Insurance Scarsdale NY
- Variable Life Insurance Schenectady NY
- Variable Life Insurance Selden NY
- Variable Life Insurance Shirley NY
- Variable Life Insurance Smithtown NY
- Variable Life Insurance South Ozone Park NY
- Variable Life Insurance South Richmond Hill NY
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- Variable Life Insurance Spring Valley NY
- Variable Life Insurance Springfield Gardens NY
- Variable Life Insurance Staten Island NY
- Variable Life Insurance Stony Brook NY
- Variable Life Insurance Suffern NY
- Variable Life Insurance Sunnyside NY
- Variable Life Insurance Syosset NY
- Variable Life Insurance Syracuse NY
- Variable Life Insurance Tarrytown NY
- Variable Life Insurance Tonawanda NY
- Variable Life Insurance Troy NY
- Variable Life Insurance Uniondale NY
- Variable Life Insurance Utica NY
- Variable Life Insurance Valley Stream NY
- Variable Life Insurance Vestal NY
- Variable Life Insurance Wantagh NY
- Variable Life Insurance Wappingers Falls NY
- Variable Life Insurance Watertown NY
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- Variable Life Insurance West Babylon NY
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