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.


 

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