Variable Life Insurance Quotes from New Jersey Life Insurance Quotes Company

New Jersey Life Insurance Quotes Company does not sell variable life insurance or other life insurance policies. Taking the information that you provide to us, we match your needs with a licensed New Jersey variable life insurance agent who is most qualified to meet your needs. It's the best way to shop around for the best quotes!

Protecting loved ones is one of the reasons for purchasing any type of life insurance. Variable life like other New Jersey life insurance policies offer a death benefit. Policies can be structured so your beneficiaries receive the proceeds, estate, and income tax free. Keep in mind that any portion of the 'invest' component not used in one's lifetime may be subject to both estate and income taxes. As a result, your beneficiaries may receive a lesser amount than originally anticipated.

Variable life gives you the flexibility to choose the amount of protection that best suits your family. It allows you to increase or decrease coverage as insurance needs change. You may not decrease your coverage below the required minimum. With variable life, you control the amount and frequency of payments.

You can allocate a portion of your variable life premium to one or several investment divisions, or a fixed-rate general account option. The investment divisions include stock, bond, balanced, international, and money-market portfolios. Earnings within the investment divisions will vary with market conditions and your principal may be at risk. Premium payments plus investment earnings, less policy fees and charges, serve as your policy's cash value. It should be noted that a decrease in your policy's cash value may decrease the overall amount of your New Jersey life insurance coverage. Most mutual funds also require a minimum dollar amount to participate in a particular portfolio.

Investing in vehicles like mutual funds is still a solid strategy to follow. But you have to have the discipline to carry this out. If you neglect to put money aside for the future, the "buy term and invest the difference" strategy collapses. Without the 'invest' portion, you are left with a term policy that is incapable of accumulating funds for the future.

As your insurance needs change, it is quite probable that your long-term investment goals and risk-tolerance levels will change. With variable life, you have flexibility to transfer funds between the investment divisions, tax free. So, you have the freedom to make decisions based on your needs and not on the tax limitations. Note that many variable life policies restrict transfers from a fixed account to the investment divisions.

Be sure to discuss your options with a New Jersey life insurance professional. He or she will help you look at the big picture and recommend suitable solutions based on your objectives. Click here to get in touch with a licensed New Jersey insurance professional.