Frequently Asked Questions

Can an existing life insurance policy be used to provide for the repayment of an outstanding mortgage loan?

Yes: the purchase of a new mortgage protection term insurance policy is usually not required by the lender. An existing policy, either term or cash-value life insurance, can be used for many purposes, including paying off an outstanding mortgage loan balance in the event of the insured’s death.
Credit life insurance is frequently recommended in conjunction with the taking out of an installment loan when purchasing expensive appliances or a new car, or for debt consolation. Is credit life insurance a good buy?

Credit life insurance is frequently more expensive than traditional term life insurance. Further, if you already own a sufficient amount of life insurance to cover your financial needs, including debt repayment, the purchase of credit life insurance is normally not advisable due to its relatively high cost.

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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.


 

Business Automobile Coverage insures vehicles that are owned, leased, hired or borrowed. From private passenger automobiles to trucks and trailers of any size – from one car to a fleet of various commercial vehicles, Lassen, Marine & Webster will fulfill your Business Auto needs.

Business auto insurance lets you keep your business on the move. Whether you are using vehicles to provide mobility for your employees, products or equipment you will be secure owning a properly written insurance policy. Lassen, Marine & Webster can customize your policy to meet your specific vehicle needs whether you own, lease or rent single vehicles or a fleet. Coverages include:

  • Bodily Injury
  • Property Damage
  • Medical Payments
  • Comprehensive
  • Collision
  • Uninsured/Underinsured Motorist