Variable Life Insurance in Madison, MS

What variable life is and who it fits

Like any life insurance, a variable policy pays your beneficiary when you pass away. The difference is the cash value. A share of each premium goes into subaccounts, which work a lot like mutual funds, chosen from a menu the insurer offers. Strong markets can grow the cash value. Weak markets shrink it.

For most people, this is not the first policy to buy. If the goal is covering your family while the kids are young or a loan is still open, Term Life Insurance does that for far less. If you want a cash value that never drops, Whole Life Insurance is worth a look. Variable life tends to suit people who already have basic coverage, can keep up payments for decades and can stay calm through a bad year in the market.

Not every agent can offer it. These policies require a separate Variable Life & Variable Annuity license under the law, and our agency carries one, along with our Life & Health Insurance license. Meet with us at our Madison office or over video, whichever fits your week.

What working with us includes

Every charge on paper

Variable policies carry several built-in costs: cost of insurance, policy fees, fund expenses and surrender charges if you leave early. You see each one in writing before you apply, and nothing we did not discuss appears later.

A guide through the prospectus

Each variable policy has a long prospectus. We go through it with you and flag the important parts, such as how charges are taken and what happens when cash value gets low.

A one-page coverage summary

When the policy begins, you get a single sheet showing what you own, what you pay and how it protects your family. Store it where your family can find it.

A yearly review we book

We schedule a review with every client each year. With variable life that is important, since fund performance affects the health of the policy. Your beneficiaries get confirmed at each review too.

Changes made when your life changes

A new baby, a new home or a new job? Tell us, and your coverage is updated within a week.

Help with the claim

When that day arrives, we guide your family through the claim ourselves, so they have a person with them and not only forms.

Signs variable life might make sense for you

• Your term coverage is already in place

  Your family is covered through your working years, and now you want a permanent policy layered on top.

• You think in decades

  This kind of policy rewards patience. Fees and surrender charges in the early years take a real cut if you cancel soon.

• A down market will not rattle you

  You accept that the cash value can fall, and you can keep the premiums coming during a slump without second-guessing.

• You want a say in how the money is invested

  Whole life offers no fund choices at all. Variable life lets you pick subaccounts from the insurer's list and shift between them.

• Your budget has room

  Premiums run higher than term. If your budget is stretched, we will be honest about it and steer you toward a policy that fits.

From first call to a policy in force

1. 1

   You reach a real agent

   A live person takes your call, not a recording. We book an office visit or a video meeting.

2. 2

   Review your full situation

   We learn about your family, income, current coverage and how much market risk feels okay to you. No pressure and no jargon. We cover each option and the timing is yours.

3. 3

   See it on paper

   When variable life is a fit, your written quote lists the premium, every charge and illustrations for strong and weak markets. When a different policy fits better, we tell you directly.

4. 4

   Apply and pick your subaccounts

   We complete the application with you, health questions included, at our office or over video, and help you select subaccounts. Underwriting is done by the insurer and may involve a medical exam.

5. 5

   Stay on track

   Once approved, you receive your one-page summary. We meet every year to check how the cash value is doing.

What moves the price of variable life

Your premium is set by the insurance company, not by us. What we do is show you each piece in writing so you can see where your money goes. These are the biggest drivers.

Age and health

Younger, healthier applicants pay less for the insurance part of the policy. Tobacco use raises it a lot.

Coverage amount

A bigger benefit for your beneficiary means a higher cost of insurance every month.

Fees inside the policy

Fund expenses, administrative fees and mortality and expense charges come out of the cash value. They differ from one insurer to the next, so we compare them side by side.

How the market does

If your subaccounts lose value, you may need to pay more to keep the policy from lapsing. We show you that risk in the illustrations before you buy.

Fixed or flexible premiums

Some variable policies have a set premium. Others let you adjust payments within limits. Flexibility helps, but paying too little can drain the cash value.