Frequently Asked Questions

How much life insurance should an individual own?

Rough “rules of thumb” suggest an amount of life insurance equal to 6 to 8 times annual earnings. However, many factors should be taken into account in determining a more precise estimate of the amount of life insurance needed. Important factors include:
  • Income sources (and amounts) other than salary/earnings
  • Whether or not the individual is married and , if so, what is the spouse’s earning capacity
  • The number of individuals who are financially dependent on the insured
  • The amount of death benefits payable from Social Security and from an employer sponsored life insurance plan
  • Whether any special life insurance needs exist (e.g. mortgage repayment, education fund, state planning need, etc.)

Please contact us for a precise calculation of how much life insurance is needed.

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Contact Information

Churchville location »
2907 Churchville Road, P. O. Box 70
Churchville, MD 21028
(800)519-8387

Elkton location »
211 West Main Street
Elkton, MD 21922
(800)519-8387

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BUSINESS INSURANCE

Business owners in Harford and Cecil County can rest assured knowing there is a local, independent agent nearby able to access and customize insurance plans to meet the needs of your specific industry and situation.


 

A bond is purchased to safeguard your business from financial loss and guarantees the repayment of the principal and all associated interest payments in the event of default.

Bonding insurance allows businesses to protect themselves against liabilities resulting from routine work. Protect your business against financial loss by safeguarding valuables, employees and assets against high-risk situations. In some cases, businesses are required by law or mandated by the state to carry surety or fidelity bonds.

Types of bonds include:

  • Commercial Surety Bonds – A written agreement between three parties where a surety guarantees a specific performance of an obligation or compliance.
  • Fidelity Bonds – Indemnify the insured for loss caused by fraudulent or dishonest acts of the individual covered by the bond with the intent to cause the insured a loss and benefit the individuals.
  • Contract surety bonds - Offers bid, payments & performance bonds specifically underwritten to address the needs of general, highway/heavy, trade and specialty contractors of all sizes