One of the best and least expensive life insurance offers in Maryland (2021)

Maryland is one of the 20 most populous states in the USA with an average life expectancy of 79 years, Maryland is in the middle of longevity in the country. Longer lives and a sizeable population mean that residents and government insurance regulators have a lot to consider when deciding on life and financial security for their financial Lover and residents. Here we explore that best life insurance in the Maryland.

Using Assure is a great choice when looking for that proper life insurance that suits your needs and budget. Just answer a few questions for Informational purposes, and Assure will be a list with Life insurance offers of the the best life insurance.

Regulation of Life insurance

Life insurance is regulated by the state. Mandatory provisions and Exclusions to the Life Insurance in Maryland not required in New York state, for example. However, the National Association of Insurance Commissioners (NAIC) is a regulatory body that promotes coherence between states. Most states adhere to the NAIC regulations, but are not required to do so.

The Maryland Insurance Administration, led by the Maryland Insurance Commissioner, is the authority that rules Life insurance by doing State of Maryland. You regulate Homeowner Insurance, Car insurance, and Life and health insurance. They work to support and regulate consumers too Life insurance companies and Life insurance broker.

The responsibilities of the Maryland Insurance Administration Include licenses Life Insurance Companies in Maryland and Life insurance broker, compliance with the Maryland Insurance law, consumer complaint investigation, and evaluation and approval Life insurance tariffs, Contracts and new ones Life insurance Products.

types of Life insurance Regulated by the state

Life insurance options regulated by Maryland lock in Life insurance, Term life insurance Long term care, Pensions, and Business insurance. Maryland life insurance follows the standard guidelines of the NAIC for contractual provisions such as incontestability, incorrect age specification and grace period. These provisions may vary slightly across the country insurer who follow NAIC guidelines.

Life insurance

Life insurance is a term for any type of permanent Life insurance. Traditional Life insurance is the oldest and simplest form of permanent Life insurance. It delivers a guaranteed one Monetary value to Policyholder and a guaranteed Death benefit to beneficiaries. Other forms of Life insurance, as universal life insurance, are characterized by the way they grow Monetary value.

Term life insurance

Term life insurance is kind of Life insurance policy that takes a certain amount of time. If you die during the insurance period, Death benefit is paid out to your beneficiaries. If you survive the policy, you get nothing, although most of them Term life insurance are guaranteed to be renewable. These Types of insurance Politics doesn't grow Monetary value and are cheaper than Life insurance.

Long term care insurance

Long term care Insurance is supposed to protect Policyholder from medical expenses related to Long term care. This includes medical care, such as treatment and diagnostic services, and personal care, such as hospice and nursing services. Hybrid Long term care guidelines provide a Death benefit and Long term care Services.


Paid premiums pension Accumulate interest income in savings or investment accounts on a tax-privileged basis. At a certain point in time, the funds will be retired, i. H. the funds are converted into regular income payments to the pensioner (Policyholder). Pensions can have a sentence Death benefit, or if you die before you have received all income payments, the remaining funds go to your beneficiaries.

Corporate insurance

States also regulate insured purchase-sale contracts. A buy-sell agreement is a contract with a person, group, or corporation that agrees to buy a business owner's interest in the company if the owner dies or becomes permanently disabled. When insurance is taken out to finance a buy-sell agreement, it is an insured buy-sell agreement.

How much does it cost Life insurance Costs in Maryland?

During the underwriting of the application process, it will be determined whether you will be accepted or rejected for a Life insurance policy and when your premiums are fixed. Actuaries are Life insurance Mathematicians weighing the likelihood of death or illness based on statistics, odds, probabilities, and averages. A total of Health in Maryland can also be considered.

Premium payments are based on the Insurance agencyCosts, interest on their accounts, and mortality. The premiums are cheaper if you are younger, in good health and do not have any family illnesses such as heart disease or cancer. The older you are, the greater your chances of getting higher rewards. Health conditions also increase the premiums.

Life insurance companies As a rule, you can pay premiums monthly, quarterly, semi-annually and annually. Depending on the type of policy you have, your premiums can be the same and stay the same throughout the life of the policy, such as a traditional life insurance policy. Or the premiums can be flexible and you can lower, increase or pay the policy Monetary value to cover the costs, for example with a universal life policy.

Who has the cheapest Life insurance in the Maryland?

There is a lot of quality Life insurance companies by doing State of Maryland. The younger you are, the lower the risk of dying, so the premiums are usually lower. Below is a table showing the average monthly cost of Life insurance for different age groups across Maryland. Read on for more detailed charts of the best and cheapest Life insurance companies in the Maryland.

Age group Average cost
Teen $ 12.98
20-29 $ 11.31
30-39 $ 29.88
40-49 $ 24.06
50-59 $ 86.40
60-69 $ 122.90
70-79 $ 211.03

What are the Best life insurance company in the Maryland?

When looking for the proper life insurance plans, Consumers usually want the best policy that suits their needs at the best price. It is also important to have one insurer Financial strength and solvency. Independent rating services such as A.M. Best, Standard and Poor’s (S&P) and Moody’s measure insurer fiscal strength.

Assessment services usually rate insurer by grades A through D. A is the highest damage payment and financial strength rating, and D means that Life insurance company is in liquidation. If you are one Policyholder and your Life insurance company If your state becomes insolvent, so will your state warranty Agency helps with the payment of claims on your Health insurance, Life insurance, and pension Expectations.

A number of affordable Life insurance companies offer diverse products in the State of Maryland. Finding the right policy for your individual and financial needs can take place with so many different products and services Life insurance companies. Some of the cheapest products on the market are 10 year policies. The tariffs depend on your age and, as a rule, the state of health that you had when you took out the policy.

Best and cheapest Life insurance for teenagers

Usually children are not providers in most families, so teenagers are like that Life insurance may seem illogical. Although a Life insurance policy on your child or grandchild will usually help with unexpected expenses, should the unthinkable happen Life insurance for young people is bought for guaranteed insurability in the future. Two of the best companies for teenagers Life insurance in the Maryland are Pacific Life and Lincoln Financial Group.

Life in the Pacific

With A + ratings from A.M. Best, Fitch, Moody's and S&P, Pacific Life offers a variety of Life insurance Products and Pensions at affordable prices. It provides Term life insurance and be Life insurance The products include variable, universal and traditional life insurance.

Lincoln Financial Group (Lincoln National)

Lincoln Financial Group is an insurance and investment company founded in 1905. Abraham Lincoln's son Robert gave permission to use his father's name and image for the company. They offer individual and group insurance. Your lifelong protection comes in universal and variable universal life insurances.

The table shows the expected monthly rates for a 10 year policy with $ 100,000 coverage for teenagers.

Company Name Average cost
Protective life $ 9.86
American family $ 9.88
Sagicor life $ 9.94
Lincoln National $ 10.30
SBLI $ 10.65
United of Omaha $ 11.14
Harbor life $ 12.11
Life in the Pacific $ 12.37
Mass reciprocity $ 14.08
American citizens $ 14.17

Best and cheapest Life insurance for people from 20 to 29 years

purchase Life insurance while you are in your 20s is a good idea to keep prices down in the future. Most policies with a term are guaranteed to be renewable and convertible. If you take out term life insurance in your 20s, you can later convert your coverage to a life insurance policy with a premium rate based on the age you were when you took out the original policy.

Sagicor life

Sagicor was founded in 1954 and is licensed in 45 states and is one of the longest established Life insurance companies in the US it has an A + rating with A.M. Best of all, and it offers traditional life and universal life guidelines. Sagicor & # 39; s Sage Term offers affordable prices and terms of 10, 15 and 20 years. The runtime policy is convertible and has one level Death benefit up to 95 years old.

give life

Bestow offers an online insurance application process for Term life insurance. It doesn't require a medical exam and coverage is quick and affordable. Bestow currently accepts applicants under the age of 45. Coverage ranges from $ 50,000 to $ 1.5 million.

Here is a list of the cheapest deals on the monthly rates of a $ 100,000 policy for 20-29 year olds in Maryland.

Company Name Average cost
Transamerica $ 8.17
Legal and general $ 8.23
give life $ 8.42
Life in the Pacific $ 8.58
SBLI $ 8.67
Life insurance $ 8.70
Protective life $ 8.72
Sagicor life $ 9.88
American family $ 9.97
Lincoln National $ 10.01

Best and cheapest Life insurance for people from 30 to 39 years

For most people, their 30s is the time in life when they take on more financial responsibility, like a mortgage, kids, or a business. It is for this reason that most people start taking Life insurance seriously at this age. Life insurance are still cheap at 30 and can protect your family, your mortgage or your child's future education.

American General Life (AIG)

American general Life insurance has a wide range of Life insurance Products. The quality of AIG Life insurance Product offers accelerated performance should you become terminally ill. your Life insurance Products include traditional whole life, universal life, and guaranteed output Life insurance. your Term life insurance The terms are 10 to 30 years and can be extended and converted.

American family

The American family dream began over 90 years ago in 1927. A small one Car insurance Madison, Wisconsin office at a versatile Insurance agency Protecting people in 19 states with life, auto, renters, home, business, and farm and ranch insurance. It offers a wide variety of Life insurance, This includes the entire term, the term and simplified emission guidelines.

The table below shows the expected cost of a $ 100,000 policy for 30-39 year olds.

Company Name Average cost
Lincoln National $ 11.04
Legal and general $ 11.86
Harbor life $ 12.28
Omaha reciprocity $ 12.69
Transamerica financial life $ 12.70
American common life $ 13.81
American family $ 15.01
Obligation to supervise $ 16.28
Life in the Pacific $ 16.55
Protective life $ 22.28

Best and cheapest Life insurance for people between 40 and 49 years of age

With our 40s, Life insurance possibly more important as we begin to think about our own vitality in life and the people who rely on us. Do you still find cheap Life insurance in your 40s. Quotes are usually only a few dollars more than if you were in your 30s.

Vanti's life

Vantis Life offers Life insurance and Pensions at affordable prices. Now part of Penn Mutual Life insurance company, it is financially strong and has A + ratings with A.M. Best and the BBB. You can get approved online for its speed in minutes Term life insurancethat has coverage of $ 50,000 to $ 2 million.

Their Lifetime Products includes the Velocity Whole Life Flex Complete policy. This policy can cover your family and add a driver with chronic, terminal and critical illness at no additional cost. Your guaranteed golden rule is a guaranteed n-medical-exam edition Life insurance policy.

Harbor life

Haven Life is owned by MassMutual Life insurance company. It offers affordable Term life insurance which are easy to apply for. Its products are requested digitally and its Haven Simple Term life insurance does not require a medical examination.

The table below shows the expected monthly rates for a policy of $ 100,000 for people aged 40 to 49.

Company Name Average cost
Lincoln National $ 13.46
Transamerica life $ 13.57
Sagicor life $ 14.25
American common life $ 14.48
Legal and general $ 15.62
Protective life $ 16.40
American family $ 16.92
Harbor life $ 17.08
Vanti's life $ 17.54
Life insurance $ 18.40

Best and cheapest Life insurance for people between 50 and 59 years

The rates for applicants aged 50 and over are increasing more rapidly than for younger age groups. In our 50s, we may have health problems that we didn't have in our 20s and 30s. That said, there are guidelines that yours Life insurance Demand at affordable prices.

Transamerica financial life

Transamerica was founded in 1904 and has high ratings with A.M. Best, Moody’s and S&P. It is Life insurance Products include terms, total term, final expenses, and universal life insurances. The Transamerica Institute, funded by Transamerica, is a nonprofit foundation that teaches aging and health studies.

Regulatory finances

Prudential Financial offers term life insurance policies that offer vital benefits and convertibility, and you can also choose a variety of fellow passengers, such as B. Add premium waiver and child protection passengers. Prudential's lifelong guidelines include universal and variable Life insurance Products.

Here is a table showing the monthly rates for the cheapest policies with a term of $ 100,000 for 10 years for people ages 50 to 59.

Company Name Average cost
American family $ 29.59
American common life $ 40.75
Transamerica life $ 50.48
SBLI $ 56.47
Regulatory finances $ 58.31
Life in the Pacific $ 64.34
Vanti's life $ 64.83
Lincoln National $ 66.39
Banner life $ 67.72
Transamerica financial life $ 69.44

Best and cheapest Life insurance for people between 60 and 69 years of age

Term life insurance is still an affordable option even at 60. If you haven't bought Life insurance By the time you turn 60, you will still see affordable maturities to cover the end cost and any outstanding debt, and to leave a legacy for you Lover.

Protective life

Protective Life offers affordable Term life insurance and also life insurance for whole and universal life. With over 110 years of experience on the Life insurance Market it is a financially strong company. It has an A + rating with A.M. Best and Fitch, an AA- from Standard and Poor’s and an A1 from Moody’s.


SBLI, an abbreviation for Simply Better Life insurance, offers inexpensive Term life insurance and final editions and Life insurance. They offer an expedited Death benefit Drivers at no extra charge and waiver of premium drivers for their term policies. You are with A with A.M. Best and A- with Standard and Poor's.

The graph shows the monthly rates for the cheapest 10 year policies of USD 100,000 for 60 to 69 year olds.

Company Name Average cost
American family $ 15.04
SBLI $ 30.36
Lincoln National $ 33.82
Vanti's life $ 48.69
Regulatory finances $ 63.02
Lincoln National Life $ 66.24
Sagicor life $ 67.91
American citizens $ 71.39
Protective life $ 86.18
American common life $ 90.68

Best and cheapest Life insurance for people from 70 to 79 years

Find affordable Life insurance coverage Being in your 70s is a harder task than at a younger age. Policies are getting more expensive, they may offer less coverage, and it is more difficult to find coverage insurer. While it's harder, it's not impossible. Something insurer People aged 70 to 79 include Banner Life and Transamerica.

Banner life

Banner Life & William Penn have theirs Life insurance Products under Legal & General America since 1989. Banner Life operates in New York and insures people across the country in 49 states. With $ 6.8 billion net worth, Banner Life is financially solid.

The table shows the expected monthly payments for a policy with a term of 10 years and coverage of USD 100,000.

Company Name Average cost
Legal and general $ 169.49
Transamerica $ 171.48
Banner life $ 317.47

With Assure, it's easy to find the right cover. Regardless of whether you are looking for a lifelong, temporary or permanent cost policy, Assurehelps you compare quotations from the the best life insurance in the Maryland or anywhere in the country.

Ready to Protect You and Your Family?

FAQ: Maryland Life Insurance

How much does life insurance cost in Maryland?

Life insurance premiums depend on factors such as your age and health. The younger and healthier you are, the cheaper your premiums will be.

Are life insurances cheaper in other federal states?

Life insurance is regulated from state to state. The rewards aren't determined by the area you live in, but average longevity is.

What should I look for when looking for the right life insurance company?

Independent rating services such as A.M. Best and Moody's educate consumers about the financial strength of life insurance companies. Also with Assure helps you determine the premiums that are right for you.


Maryland resident have numerous affordable Life insurance options. Financial protection and security for you and your loved ones are within reach. To find out more about the regulations im. to experience State of Maryland, visit the Maryland Insurance Administration& # 39; s website.

Get the right policy at the right price Assure. By using Assureto help you your Life insurance Goals, save time and money. Assure creates a list of quality offers Life insurance Providers near you in a few minutes. Compare offers and decide which premium best suits your budget.

Simply find the right life insurance!

Updated May 27, 2021

Aissa Martell is a licensed insurance producer based in New York State. She is a creative writer and has been a freelance writer for five years. She is happy to pass on her knowledge of the insurance industry and its products.

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