Waldorf Life Insurance

Your Complete Guide to Waldorf, MD Life Insurance

(Find the right life insurance policy for you.)

Less than 60% of Americans have life insurance, and 1 in 5 say they don't not have enough. Sadly, this means that the ones you care about may not be financially ready to support themselves if you pass away suddenly. Waldorf residents can trust that they will be financially cared for in the event of an unexpected death by purchasing a life insurance policy.

A life insurance policy in Waldorf is made easy when you use an independent insurance agent. A local agent will guide you through the many different coverage options and policy types available to you, so you can be sure to make a smart decision. Connect with an insurance agent in or near Waldorf to get started.

What Can Waldorf, Maryland Life Insurance Do for You?

You never know when a sudden death will occur. With accidents being the 4th leading cause of death in Maryland, it is important to make sure that you have a policy in order so your loved ones will be taken care of.

Your loved ones will focus on healing, while your life insurance policy will help them financially. Your policy will provide coverage for things like:

  • Paying off accumulated debt
  • Paying for a dependent's college tuition or mortgage
  • Covering funeral and burial costs
  • Donating to your favorite charity

If you have a whole life policy, you can use accumulated funds at any time if you need to recover lost income or cover financial burdens such as loans, rent, mortgage, or any other debts.

Reasons to Have Life Insurance in Waldorf, MD

A life insurance policy is an important purchase for Waldorf locals to protect their loved ones from financial hardships in case of an untimely passing. This policy is especially beneficial for new families, homeowners and anyone who is relying on you monetarily.

Most importantly, the younger and healthier you are, the less expensive life insurance will be. It is recommended that you purchase this policy while you are still young so that the rate is affordable, because the older you get, the more health risks you will have.

Maryland Mortality Statistics

The average life expectancy in Waldorf is 79.5 years, which is a bit longer than the national average of 78.5 years. The state of Maryland is rated 21st in the nation for life expectancy, meaning that residents on average live longer than a majority of other states. The top 5 causes of death in Maryland each year:

  1. Heart disease: 11,653 deaths
  2. Cancer: 10,796 deaths
  3. Stroke: 2,820 deaths
  4. Accidents: 2,408 deaths
  5. Chronic lower respiratory disease: 2,079 deaths

Average Funeral Costs

  • Cremation with no memorial service: $2,000
  • Cremation with a traditional funeral service: $10,000-$12,000
  • Burial with a memorial service: $10,000
  • Burial with a traditional funeral service: $15,000

These days the average funeral can cost upwards of $15,000. It’s important to make sure that your loved ones are left with a life insurance policy that will help them through this expense.

Types of Life Insurance Policies

There are two major types of life insurance policies available: term life insurance and permanent life insurance.

Term Life Insurance

Term life insurance is a great place to start if you don't currently have life insurance. This policy is the less expensive option and is designed to provide coverage during times that you really need financial security. This policy is typically chosen by new families or people who have just bought a house.

This policy is available in varying time periods and is flexible in meeeting your changing needs. However, at the end of your term you will no longer have the policy and will have to purchase a new policy. If you are older or sick, you may find it difficult to acquire affordable coverage in this policy.

Permanent Life Insurance

Permanent life insurance is an umbrella term for different types of life insurance policies that never expire. These policies include:

  • Whole life insurance: This policy is paid out to the beneficiary or beneficiaries upon the insured’s death. In addition to being covered your whole life, it also contains savings where cash value may accumulate. The policyholder can access this cash while alive, if needed.
  • Universal life insurance: This policy is characterized by its unbounded pricing structure and flexible premiums. Anytime you make a payment towards this policy, part of it goes into an investment account and you receive the interest. This policy is paid out to the beneficiary or beneficiaries upon the death of the insured.

Get Help from a Waldorf, MD Insurance Agent

A local Waldorf independent agent can help guide you through your various options and answer your life insurance questions. Your agent will compare numerous rates from multiple insurance companies to guarantee that you get the best policy. Contact a local independent agent in Waldorf to get started.

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