ServicesVariable Life Insurance
Variable Life Insurance in Puckett
Variable life pairs a permanent death benefit with cash value you direct into investment subaccounts. That upside comes with market risk and layered fees. We show you both on paper, line by line, so you can decide if it fits your family.
What variable life is, and who it suits
A variable life policy is permanent coverage with two moving parts. Your premium pays the cost of insurance and policy charges, and what remains goes into a separate account split into subaccounts. Those subaccounts work much like mutual funds holding stocks, bonds or money market assets. The cash value rises and falls with them, and in some designs the death benefit does too.
It tends to fit people who already have enough term life for their core needs, want lifelong coverage, and can live with an account balance that drops in a bad year. If you want fixed numbers that never change, whole life or term life is usually the better match, and we will say so.
Because this product carries investment risk, it takes a specific license to sell. We hold a Variable Life & Variable Annuity license along with our Life & Health Insurance license, and we use both to explain the policy, not to push it.
What you get when we set up a variable policy
A walk through the prospectus
Every variable policy comes with a prospectus. We go through the parts that matter to you: the subaccount list, the fee table and the surrender schedule. You keep a copy with our notes marked on it.
Illustrations at more than one return
We run the policy at a modest return and at a zero or low return, not only the rosy case. You see the year the cash value could run short if markets stay flat, and what premium would keep the policy in force.
Subaccount selection that matches your timeline
We explain how each subaccount is built and how volatile it has been. You choose the mix. We document why it was chosen so you can revisit it later.
A one-page summary of your coverage
A one-page summary of your coverage: what you own, what it costs, what it protects. It sits on top of the policy packet so your family can find it.
Beneficiaries checked every year
Your beneficiaries are checked every year. Every client gets a yearly review, and we schedule it, which is also when we look at how the subaccounts have moved.
Signs variable life may be worth a look
Your term coverage is already in place
If your basic income replacement is handled, variable life can add a permanent layer on top of it.
You want growth potential inside the policy
Whole life credits a set rate. Variable life lets the cash value follow the markets, up or down.
You can keep funding through rough years
When subaccounts fall, the policy may need more premium to stay in force. This fits people with steady, flexible cash flow.
You want a say in where the money goes
Some people prefer picking their own allocation over trusting an insurer's general account. Variable life gives you that control and the responsibility that comes with it.
How the appointment and application run
- 1
First conversation
We talk by phone, video or at our office about who depends on you, what coverage you already own and how much risk you can stomach. No pressure, no jargon. We explain every option and you decide on your timeline.
- 2
Side-by-side comparison
We put a variable illustration next to a whole life or universal life illustration for the same face amount. You see where the costs, guarantees and risks differ.
- 3
Application and underwriting
If you go ahead, we complete the application and suitability paperwork with you. The insurer may ask for a health questionnaire, a paramedical exam or medical records.
- 4
Delivery and documentation
When the policy is issued, we go through the contract pages and your subaccount allocation with you and give you a copy of each signed page.
What moves the cost of variable life
Variable life has more charges than most coverage, and some come out of the cash value rather than your premium. We list each one so nothing is buried. Your premium depends on these factors.
- Age and health class
- The cost of insurance is set by your age and the underwriting class the insurer assigns. Tobacco use and conditions like diabetes or heart disease raise it.
- Face amount and death benefit option
- A larger death benefit costs more. Choosing a benefit that grows with the cash value raises the monthly charges compared with a level benefit.
- Policy and fund fees
- Expect mortality and expense charges, administrative fees and the operating expenses of each subaccount. Lower-cost subaccounts leave more in the account over time.
- Surrender schedule
- Most policies charge to surrender in the early years. We show the exact schedule so you know what leaving early would cost.
- Market performance
- Weak returns can mean you need to pay more later to keep the coverage in force. That is a real cost, and we show it in the low-return illustration.
Variable life questions we hear often
Something not covered here? (601) 843-8303
Can I lose money in a variable life policy?
Yes. The cash value sits in subaccounts that can drop in value, and fees keep coming out either way. If the cash value falls too far, the policy can lapse unless you add premium. We show you that scenario before you apply.
How is this different from universal life?
Universal life credits interest at a rate the insurer sets or ties to an index with a floor. Variable life invests directly in subaccounts with no floor on the cash value. Both offer flexible premiums, but the risk sits with you in a variable policy.
Can I change my subaccounts later?
Most policies allow transfers between subaccounts, sometimes with limits on how often. We look at your allocation with you at the yearly review we schedule.
What happens when my family needs to file a claim?
You never have to file a claim alone. We walk your family through the claim personally, from the death certificate to the insurer's forms.
Do you work with people outside Puckett?
Yes. We meet clients from Brandon, Pearl and Magee at our office or by video, and the paperwork works the same either way.
See the numbers before you decide
Bring your questions and any coverage you already have. We will run the illustrations, explain the fees and leave the choice with you.