Frequently Asked Questions

Should term insurance or cash value life insurance be purchased?

Although a difficult question – one whose answer will vary depending on circumstances – several principles should be followed in addressing this issue. It must first be recognized that in any life insurance purchasing decision, there are at least two basic questions that must be answered:

  • How much life insurance should I buy?
  • What type of life insurance policy should I buy?

The first question involves an “insurance” decision and the second requires a “financial” decision.
The insurance question should always be resolved first. For example, the amount of life insurance that you need may be so large that the only way it can be afforded is through the purchase of term life insurance (which has a lower premium).

If your ability and willingness to pay life insurance premiums is such that you can afford the desired amount of life insurance under either type of policy, it is then appropriate to consider the “financial” decision – which type of policy to buy. Important factors affecting the “financial decision include your income tax bracket, whether the need for life insurance is short-term or long-term (e.g. over 20 years or longer), and the rate of return on alternative investments possessing similar risk.

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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.


 

No business is immune to crime losses, and in the age of computers fraud is a very real threat. Talk to one of our knowledgeable agents today to find out how you can protect your business from the risk of fraud and other crimes.

Today’s technology means more opportunities for misconduct than ever, including loss of money, securities and other tangible business property due to outside theft, employee theft, burglary, robbery, disappearance or destruction, forgery of checks and computer fraud. You need to protect your business and its assets against crime. Coverages include, but are not limited to:

  • Employee dishonesty
  • Money & securities – Inside and Outside
  • Money Orders & Counterfeit Paper Currency
  • Forgery & Alteration