Maryland Life Insurance
Life insurance is one of those topics that people often avoid, kind of like writing a will or doing estate planning. At Balderson Insurance, our goal is to educate you and help you understand the different life insurance options that can protect your family in the untimely event of your death.
What Type of Life Insurance Do You Need?
To determine the type of life insurance you need lets start by discussing the two main categories of line insurance: whole-life and term-life.
Whole-life insurance (as the name implies) protects you and your loved ones for your whole life. It stays in force until you die (assuming you pay the premiums), and it also usually provides the added benefit of having cash value so you can use it if you need to, while you are still enjoying life.
Term-life insurance, on the other hand, only protects you for a certain period. Typically, that term is 10, 20, or 30 years, and after that, the payments stop and you no longer have insurance coverage.
There are a host of factors that determine whether or not you should get a whole-life or term-life insurance policy, and we are happy to provide a free, no obligation consultation to help you make the decision.
How Much Life Insurance Do You Need?
Similar to determining the type of life insurance, everyone’s personal needs are different. The first thing to consider is what the financial impact would be on your survivors if your income stopped tomorrow. For example, if you are the sole provider of a family earning $150,000 with 4 kids (and two of those kids are in college), your life insurance needs will be more than a retiree on fixed income with no dependents.
Our goal is not just to sell you insurance; our goal is to get to know you and learn about what protection you need for your family and then help you make an educated decision.
We have been helping people just like you since 1996 and we invite you reach out to us so we can answer any life insurance questions you might have and help you ensure that you have the peace of mind from knowing that your family is protected.
Call the Maryland Life Insurance experts at Balderson Insurance today at (301) 874-0772 for more information and to find out what life insurance options are available for you and your family.