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

Elkton location »
211 West Main Street
Elkton, MD 21922

YIKES! Your teen just obtained a driver’s license and all you’re thinking about how much insurance will cost for his/her new car. We all want to save money, but automobile insurance for teens is always significantly higher than an experienced driver with a clean record. However, there are ways to lower your teen’s insurance. Here are a few helpful hints to keep you sane through this new chapter in your life:

  • Shop around for the best policy – some insurance companies have fixed rates and can only offer one price. Your independent insurance agent, Lassen, Marine and Webster, represents many different companies. We can ensure you have the best price for the coverage that you need.
  • When choosing a vehicle for your teen, make safety and affordability a top priority. Insurance companies will charge a much higher premium for that sports car that your child is hoping you for. Websites like Forbes and Consumer Reports offer a list of the safest cars for your young driver. Additionally, our customer service representative can coach parents on the vehicle with the most reasonable “physical damage cost symbol”.
  • Avoid vehicle modifications. Enhanced speaker systems, exhaust systems, and body kits will increase your child’s car insurance.
  • Pay your insurance premium in full. Most insurance companies charge a fee for paying in installments. Moreover, it may be enlightening to share the insurance bill with your children – there is a chance they will practice more caution behind the wheel when they see how much rates increase, even with a minor speeding ticket.
  • Motivate your children to maintain good grades. Insurance companies correlate good grades to more responsible drivers, and therefore offer a discount to drivers who maintain a B or better grade average.
  • And lastly, a higher deductible will lower your car insurance premium.