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The Baltimore Life Insurance Company
About Baltimore Life
Baltimore Life was founded by five businessmen in 1882. The company was first known as a Baltimore Mutual Aid Society of Baltimore City. At that time most of their policies ranged between $100 and $700, and premiums ranged from five to fifty cents a week. Most people bought life insurance to keep from being buried in Potter's Field, not to compensate for a breadwinner's lost wages. At founding, Baltimore Life's assets totaled $260.93.
In 1884, Baltimore Life passed a resolution that allowed them to pay out death claims within 24 hours after satisfactory proof. Other agencies took up to 60 days to deliver funds at that time. In 2004, Baltimore Life was recognized as a mutual insurance holding company.
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Baltimore Life operates their business according to their guiding principles:
- Openness, honesty, integrity, and respect in all our activities.
- Making a positive difference in the lives of our policyholders, employees, business partners, and in the communities where we operate.
- Financial discipline, recognizing above all that "...it's the policyholders money."
Baltimore Life Term Life Insurance Products
Baltimore's term life products have the following features and benefits:
- This product can be a level term policy, which means that your coverage and premiums will remain level for the life of your policy. These policies come in terms of ten, fifteen, twenty, and thirty years.
- This policy can also come as a decreasing term policy, which means that premiums and/or coverage will decrease over time. This policy comes in terms of fifteen, twenty, or thirty years.
- Face amounts on these policies start at $50,000.
- These policies are available for people who are 19 to 70 years old.
- There are optional riders available with term life such as the children's insurance benefit rider, disability waiver of premium rider, and accidental death benefit rider.
Baltimore Life Insurance Company Financial Ratings
A.M. Best: B++ (Very Good)
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Term Life Insure provides free information concerning insurance products and services, but is not an agency or an insurer. We are not associated with the company or companies profiled on this page and we make no representation, express or implied, that you will receive a quote from the company profiled herein. Products may not be available in all states. Please speak to your insurance agent or carrier directly for more information.
