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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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.


 

With the amount of physical labor preformed on a daily basis by farm employees, accidents are bound to occur. Workers’ compensation for farms covers injury and diseases arising out of and in the course of employment.

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 farm owner for negligence. In event of a situation such as this workers’ compensation provides payment for four types of benefits:

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

At Lassen, Marine & Webster our agents can provide you with more details concerning workers’ compensation and recommend a cost-effective way to control expenses through safety engineering and claim services.