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 matter what type of business you’re in, it’s critical you make the right decisions regarding group health insurance. At Lassen, Marine & Webster, we offer information that will help you decide which health insurance plan is right for you and your staff, and is right for your budget.

Health insurance is complicated enough when you are dealing with it as an individual, but quickly becomes even more daunting when you are a business owner trying to provide affordable and comprehensive health care for your employees.

Lassen, Marine & Webster will customize a policy that is right for your business’ budget by working with group health care providers that can offer fully-insured or self-funded group health insurance options. Coverages include:

  • Health
  • Dental
  • Vision
  • Disability
  • Life