Term Life Insurance

In Maryland? Protect Your Family With Affordable Term Life Insurance

Our Financial Professionals Help Maryland Families Safeguard Their Finances

As an Independent Agency, Insurance Brokers of Maryland Finds the Best Coverage at Reasonable Rates

So, you have a family, mortgage payments, everyday expenses, and kids getting ready for college. You don’t want to think about what would happen if you weren’t around anymore – but as a responsible adult, you know you should. You know that life insurance is the best way to protect your family‘s financial future.

You know you need life insurance . . . even if you’re not exactly excited about purchasing it.

Well, you’ve come to the right place.

Here at Insurance Brokers of Maryland – an established, family-run, independent insurance agency – we understand the importance of financial protection. Owning life insurance is an integral part of an intelligently designed financial portfolio, because life insurance – be it permanent life insurance or a term life insurance policy – provides an invaluable backstop against potential financial disaster.

Have a chat with one of our experienced agents here at Insurance Brokers of Maryland. Tell us about your current financial obligations (mortgage, college savings, retirement funding, general cost of living, etc.) and what you need to protect most.

Working with your personal agent, we’ll design a customized life insurance policy that would provide the cash (in the form of the policy’s death benefit) to your family in the event that you can’t provide for them anymore . . . and with premium payments you can comfortably afford.

Talk with Insurance Brokers of Maryland about a carefully chosen, financially adequate term life insurance policy. Together we’ll find the best term life insurance for your specific situation . . . and give your family the security, protection, and peace-of-mind you deserve.

How Term Life Insurance Works and Why It’s a Good Idea

When You Buy Term Life Insurance, You’re Buying Financial Security (With Tax Advantages!)

Did you know that death-benefit proceeds from a life insurance policy are typically tax-free? It’s a special exemption in the IRS code, and it’s a good one. It means the beneficiary receives a lump-sum payment exempt from federal income tax.

(Important note: Insurance Brokers of Maryland are not tax advisors. No information on this webpage or website is intended to be construed as tax advice. Please consult your accountant or other qualified tax advisor.)

There are several categories of life insurance; this page primarily discusses term life insurance. So, let’s define the term “term life insurance.”

Life insurance, like any insurance, is a type of pooled-risk protection. The difference between life insurance and other kinds of insurance – like homeowner’s, or automobile, or key-employee business insurance – is obvious: Unlike a home or auto policy, you know that eventually the life insurance policy will pay up . . . because, let’s face it, the inevitable is unavoidable.

So while you may pay for car insurance, if there’s no reason to make a claim, you won’t get any benefit from the policy. But with life insurance, you know that one day you will. (Or, at least, your beneficiaries will.)

That’s life insurance in a nutshell. But what’s term life insurance?

Term life insurance coverage is life insurance that’s in force for a specific period of time – typically 10 years, 15 years, 20 years, or 30 years. You pay a monthly premium to keep the policy going, and if you were to pass on during the term, your beneficiaries would receive the full death benefit – which could be any amount, from $10,000 to $10,000,000 or more.

What attracts many policyholders is the term life insurance cost. Term insurance is simple and straightforward, without the whistles and bells of other life insurance varieties. Therefore, the premium payments for term insurance are often substantially less than premiums for whole, universal, or variable life insurance policies (given the same guaranteed death benefit).

Additionally, a term life insurance plan is an attractive option for policyholders who might consider converting to a permanent life insurance policy – because generally there’s no new medical exam, additional health questions, or other underwriting process to go through.

You should also be aware that premium payments vary based on the type of term life insurance you purchase. One type, called “level-term life insurance,” offers fixed premiums for a fixed death benefit; another type calls for the policyholder to pay higher premiums for as long as the term life insurance lasts.

Own a business and want to offer your employees a pass-through benefit? Then a group term life insurance policy would be right for you.

Let’s find out which type of life insurance is best for your situation. Start a friendly no-pressure conversation with your Insurance Brokers of Maryland agent to discuss what kind of coverage, how much coverage, and what term length you need.

Have confidence that your life insurance policy will provide the protection that truly safeguards your family’s financial future.

We’re Proud To Be an Independent Insurance Agency in Maryland

It Means We Can Work With Almost Any Insurance Company To Find the Best Deal

You’re wise to choose Insurance Brokers of Maryland as your insurance agency – because with us, you really do get an unbiased perspective on your insurance needs.

That’s because we’re not captive to any particular insurance company. Instead, we can sell policies from a wide variety of life insurance companies – so we can shop around and find out which company and which policy is best for you.

One carrier’s term life policy may not be precisely the same as another carrier’s. For example, underwriting may be different from company to company. Some issuing insurance companies may need blood and urine samples; others may just need an accounting of your medical history. Some

Beyond Term: Permanent Life Insurance Policies To Know About

There’s Universal Life Insurance, Variable Life Insurance, Whole Life Insurance . . .

If your sole concern is providing protection (in the form of money) to your family in the event you pass away, then a term life insurance policy may be sufficient to satisfy those needs. After all, term life insurance premiums are almost always lower than other types of policies,

But what if you want lifelong coverage, not just temporary coverage? What if you hate the idea of losing money – which is the case if you don’t expire before the policy’s term does? What if you want to add a cash value component to your life insurance policy?

Insurance Brokers of Maryland has you covered there, too.

Ask your financial professional about permanent life insurance policies, such as variable, whole life, and universal life insurance. These varieties of life insurance can provide personal finance benefits in addition to a substantial death benefit.

Whole life insurance is just what the name says: life insurance that provides coverage throughout the insured’s entire life. As long as the premiums are paid, the policy never goes out of force. Plus, the premiums can be held level while the death benefit and internal cash value never go down and may actually increase over time. When a term life insurance policy is converted to a permanent life insurance policy, most commonly it is to whole life.

Variable life insurance, also called variable universal life insurance, involves an investment component such as indexing to the S&P 500 or the entire stock market. Both premiums and death benefit can vary depending upon the investments’ performance. Because a variable life insurance policy includes investing in securities, you should consult with a licensed personal financial advisor to determine how to handle investments in the policy’s sub-accounts.

Universal life insurance is something in between variable and whole life. Like whole life insurance, universal life is a permanent life policy with a cash value component, and like variable life insurance, the premiums and death benefit may vary. In fact, you may be able to pay premiums from the policy’s internal cash value! But unlike variable life, a universal life policy doesn’t invest directly in securities such as stocks and mutual funds, but instead accrues cash value tied to market indexes, usually with a guaranteed minimum.

When we know your preferences and financial obligations, your Insurance Brokers of Maryland agent can recommend the right kind of life insurance policy – universal, variable, whole, or term – for your situation.

Serving the Insurance Needs of All Marylanders

We Have Experienced Agents in Multiple Offices To Help You Buy the Right Life Insurance Policy

Our name says it all. We’re your Insurance Brokers of Maryland . . . and we mean all of Maryland.

With offices in Emmitsburg, Hagerstown, and Frederick, and with licenses that cover the entire Old Line State, Insurance Brokers of Maryland is a bona fide Maryland insurance agency. We count clients from the mountains to the shore, including areas like Baltimore, Cumberland, the DC suburbs, and all around Chesapeake Bay.

From Frostburg and Oakland in the west, to St. Michaels and Easton in the east, your friendly hometown independent insurance agency in Maryland is Insurance Brokers of Maryland.

Let’s Talk About Your Term Life Insurance Options

Contact Insurance Brokers of Maryland To Determine How Much Coverage You Need

You know you need a life insurance policy – even if you’re not exactly gung-ho about buying one. Your agent at Insurance Brokers of Maryland understands what you’re going through and we’re ready to make the process easy.

It starts with a quick phone call or a short message:

• Call us at 301-668-2233 or 301-790-0652
• Message us through InsuranceBrokersOfMD.com/contact
• Connect on Facebook @InsuranceBrokersOfMD and Twitter @Insurance_MD

We get it – talking about life insurance can be difficult, intimidating, even off-putting. At Insurance Brokers of Maryland, we take the difficulty out of discussing life insurance. Contact one of our local offices today and put an intelligently chosen term life insurance policy in place . . . and rest easy knowing that your family will always be provided for.

Talk With Us About Sensible, Smart Term Life Insurance Coverage