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.


 

Businesses, whether small or large, must have protection against injury or damage claims. Liability protection will offer you peace-of-mind in an age of multi-million dollar lawsuits.

As a business you are liable for accidents, mistakes or injury in which you or your employees may be involved. Commercial general liability helps your business by providing defense costs, covering damages, awards and legal expenses. Coverages include:

  • Premises & Operations: Protects you against injury claims, medical payments and being sued if a person is injured on your property.
  • Products & Completed Operations: Handles legal damages, defense costs or a product/service that was flawed or caused damage to a person.
  • Employment Practices Liability: Protects you against lawsuits brought up by your employees, including wrongful termination, harassment, discrimination and other employment-related offenses.