If you’re looking for term life insurance in the Central Maryland or Eastern Shore area, the professionals at Bayside Insurance can help by crafting a tailor-made term life insurance plan to fit your needs and your budget.
Tomorrow is never guaranteed–what would happen if you suddenly, and unexpectedly died? Have you taken the necessary steps to reduce or eliminate the financial burden of your death from your family? If the answer is no, contact Bayside Insurance today to get a free term life insurance quote.
Get a Free Term Life Insurance Quote on the Eastern Shore, or in Easton, Maryland
We understand that purchasing life insurance is a very important decision. For your convenience, you can request a free quote online for term life insurance. If you’d prefer to speak to a knowledgeable member of our staff, we invite you to give us a call at our Easton or Chester, MD location. We’ll explain all the details—making your life insurance decision an easy one.
Term Life Insurance in Maryland From Bayside Insurance
At Bayside Insurance, you’ll be able to choose which term length is right for you, as well as the level of coverage you desire. Typically, people choose an amount that will cover a mortgage or other type of debt, such as student loan or credit card debt.
Term life insurance is the most popular type of life insurance and is generally the less expensive option.
Term Life Insurance vs Permanent Life Insurance?
There is never a one size fits all answer to this question, because one option could be better than the other depending on a number of circumstantial questions.
Term life insurance is a great option for people when they cannot afford to purchase all permanent life insurance or when they only need coverage for a specific period of time. Term life insurance provides the benefit of a guaranteed payout benefit, but it has no cash value. A permanent life insurance policy on the other hand has cash value that can be invested, transferred, or potentially cashed out. A term life insurance on the other hand, only carries benefit during the term. Once the term expires, the policy must be renewed or all benefits are lost.
What is Term Life Insurance?
Term life insurance is the simplest form of life insurance. It provides affordable protection for your loved ones for a specific period of time with a locked-in premium for the term. When the term expires, the premiums on the policy may increase.
Generally, you choose a coverage level and a term. Terms are usually 5, 10, 15, or 20 years–although policies up to 30 years are not uncommon. All policies must name a beneficiary that will receive the benefit if you die during the life insurance policy term.
In the event that you outlive the term of the policy, you can renew your coverage–or you can convert it to a permanent life insurance policy which can build cash value over time and may even earn dividends.