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.


 

Workers’ Compensation coverage applies to bodily injury and diseases arising out of and in the course of employment. We provide you with complete details on workers’ compensation, and recommend cost-effective ways to control expenses through safety engineering and claim services.

Workers’ compensation coverage applies to bodily injury and diseases arising out of and in the course of employment. The coverage provides wage replacement and medical benefits for employees who are injured or contract a disease in exchange for mandatory relinquishment of the employee’s right to sue the company for negligence. Workers’ compensation provides payment for four types of benefits:

  • Medical Benefits
  • Income Benefits
  • Death Benefits
  • Rehabilitation Benefits

Lassen, Marine & Webster can provide you with more detail concerning workers’ compensation and recommend a cost-effective way to control expenses through safe practices and claim reviews.