Life Insurance in Maryland in the Era of Covid-19
The possibility of contracting an illness from which they might not recover—Covid-19— has many Americans rethinking their life insurance. Regardless of the Pandemic, you can still buy life insurance. In our region of Maryland, Washington D.C., and Virginia many families are reassessing their needs. Many are asking important questions. Who will provide for my family if I die? Life insurance is an important part of preparing for the unexpected.
Buying Life Insurance Now is Easy
Buying life insurance is easier than ever. At the Crilly Insurance Agency we can compare rates for you and find the best value. Expanded underwriting practices have streamlined the process of becoming approved for coverage. Term insurance is very inexpensive, making it affordable for every size family.
You May Be Surprised on the Good Rate You Get
Insurance companies understand that not everyone is perfectly healthy. Many people have certain pre-existing conditions. IF you are in perfect health that is wonderful. Excellent health means you will be offered a preferred rate. But if you have a chronic condition that is easily managed, you can still get life insurance at a price that fits your budget. Companies understand the variabilities. They have done lots of research on life expectancy which means they are able to offer some type of life insurance to just about everyone.
Exams and underwriting
It depends on how much insurance you are planning to purchase and your age as to whether you will need a health exam. For clients primarily interested in covering burial costs or estate administrative costs; a $25,000 graded policy can be purchased with minimal underwriting, even if you are terminally ill.
Depending on your age, number of dependents, and your finances there are many different life insurance options. Term insurance lasts a set number of years but can often be renewed or converted, depending on the product.
Whole life is more expensive, but is permanent insurance. Your agent can help you decide what makes more sense for your situation.
Business Life Insurance
Many small business owners purchase life insurance to help pay the bills for their family, when they are no longer around to run their business. But a business life insurance policy can be used in a different way. It can be purchased to be the cornerstone of a business’s succession plan. The death benefits from a life insurance policy can be the funding vehicle for a buy-sell agreement and used to purchase a deceased partner’s share of the business from their estate.
Life insurance can protect you in many ways. Call the Crilly Insurance Agency at 410-571-1771 to answer all your insurance questions.