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

A claim can be reported by calling us at (800)519-8387 or directly through the company that is providing your coverage. We have provided the following information to assist you in making a claim directly through the company listed on your policy.

AIC

Agency Insurance Company

(800)841-5241

allrisks

All Risks Limited

1-800-366-5810

acilogo

American Collectors Ins., Inc.

1-800-360-2277

am

American Modern Ins, Group

1-800-375-2075
Report claim online

brethren

Brethren Mutual Insurance Company

1-800-621-4264

cincinnati

Cincinnati Insurance Companies

1-877-242-2544
Report claim online

cna

CNA Surety

small commercial bonds: 1-800-331-6035
large commercial bonds: 1-877-672-6115

cumberland

Cumberland Insurance Group

1-866-794-6399

dairyland

Dairyland Insurance Company



donegal

Donegal Mutual Insurance Co.

1-800-877-9006
Report claim online

Farmers Insurance Group

1-800-435-7764
Report claim online

foremost

Foremost Insurance Group

1-800-527-3907
Report claim online

Great American Insurance Co.

 

iwif

Injured Workers Insurance Fund (IWIF)

1-888-410-1400
Report claim online

jctaylor

J.C. Taylor Ins. Agnecy, Inc.

1-800-272-6764


Joint Insurance Association

1-800-492-5670

millers

Millers Capital Insurance Co.

1-800-745-4555

Ohio Casualty

1-866-255-5530

penins

Peninsula Insurance Co.

1-800-492-1205

Pennsylvannia National

1-800-766-2245

phili

Philadelphia Insurance Co.

1-800-765-9749
Report claim online

progressive

Progressive Group

1-800-PROGRESSIVE
Report claim online

rockwood

Rockwood Casualty Co.

 

safeco

Safeco

1-800-332-3226

Selective Insurance Co.

1-866-455-9969
Report claim online

stateauto

State Auto Ins. Co.

1-800-766-1853
Report claim online

hartford

The Hartford

Numbers vary according to type of claim
Report claim online

windsor

Windsor-Mount Joy Zurich

1-800-233-0228

zur

Zurich

(800) 987-3373
Report claim online