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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FARM INSURANCE

As farm specialists in the Harford and Cecil County area, Lassen, Marine & Webster can assess your unique needs and risks to recommend the best insurance for you whether you’re running a large-scale operation or small family farm.


 

Similar to commercial business liability insurance, farm liability insurance protects you and the future of your farm from lawsuits arising from bodily injury claims and property damages.

Whether you are running a large-scale operation or carrying on the tradition of a small family farm there is always work to be done. On a daily basis you have a high volume of people floating around your farm, from vendors to employees, and at any time an accident may occur. If an injury, whether serious or minor, occurs on your property you can be held responsible. Farm liability insurance covers any accidental injury and protects you against lawsuits arising from bodily injury and property damage to others. Coverages include, but are not limited to:

  • Medical Expenses
  • Defense Costs
  • Bodily Injury
  • Property Damage