Life

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Term Life Insurance policies pay a death benefit if you die within a specific period of time (the term of the policy). Like auto and homeowner's insurance, term insurance only covers you during the time you're making payments. For this reason, it's less expensive than permanent life insurance.

Term coverage is often used to help pay off outstanding mortgages or loan balances, increase a surviving spouse's retirement nest egg or to offset final illness and funeral expenses.

Learn more about term life insurance in Baltimore Insurance.

Permanent Life Insurance policies continue until you die (as long as you make timely payments) and may provide a savings feature that builds up a cash reserve you can use while you're alive.

Permanent coverage is often used to build up a survivor's nest egg, tide a beneficiary over until Social Security or pension benefits begin, or pay final expenses and funeral costs.

Learn more about Learn more about whole life insurance in Baltimore Insurance.

Term Insurance vs. Permanent Insurance. Which is right for you?

Deciding between term and permanent insurance can be tricky. Term is cheaper right away, but the premiums usually increase every year and it only pays out if you pass away within the stated time (term). Permanent costs more during the early years, but includes a savings feature that may end up being worth more than the amount you pay in premiums - and pays your beneficiaries no matter when you pass away. So how do you decide? Generally speaking, if you're going to have the policy for 10 years or less, choose term. If you'll keep it 20 years or more, choose permanent. In between 10-20 years, consult a professional.

Life insurance for the Baltimore and nearby Catonsville, Rosedale, Dundalk, Forbing and Vancoville, Maryland area.