Monumental Life Insurance Company was incepted in the year 1858 by the name of Mutual Life Insurance Company of Baltimore offering life and fire insurance only. It acquired its present name in the 1930s and ventured into other insurance domains. It also offers a series of financial services through a network of employee agents and independent agents. It was taken under the wings of the Holland-based company AEGON in the year 1989.
It has been integrated into Transamerica Agency Network, Inc. which was formed by uniting agents of Life Investors Financial Group, Inc. and Monumental Life Insurance. Yet, Monumental Insurance Company strives to provide the same insurance policies and offer coverage to its clients.
Products and Services
List of services offered by them are as follows:
- Universal Life Insurance
- Term Life Insurance
- Whole Life Insurance
- Interest Sensitive Whole Life Insurance
- Disability Insurance
- Disease Insurance
- Health Coverage
- Final Expense Coverage
- Long-Term Care
- Accident Insurance
Here is a brief overview of the products from Monumental Life Insurance:
Universal Life Insurance
It is a flexible, almost permanent policy whose proceeds will be received by the designated beneficiary if it is valid during the death of the insured. It gives the chance to develop cash values as a death benefit that can be transacted accordingly. By letting you choose the time of payment of the premium and amount, it offers ample flexibility to the user.
Term Life Insurance
The advantages of this life insurance are enjoyed temporarily. The benefits can be derived for a certain period. For example, as soon as the term period of 1, 5 or 7 years ends the insurance ends too. On the basis of the term policy type, the death benefits may fall or remain same in due course of time. It is best for people who want a security but have less money to invest immediately. It is good for child education, paying personal loans, burial costs etc. It can be converted to life insurance if you want to receive permanent benefits.
Whole Life Insurance
This kind of insurance offers protection for the whole lifespan. Premiums, cash values and death benefits are guaranteed by it. On the death of the insurer, his family will be paid and the cash values increase over the years. It is best suited for seniors, single parents, kids as well as sole earners of the family, in fact everyone. It offers a varied payment schedules at various ages.
Retirement planning should be done early in life to get more out of it when one reaches the dawn of life. Very less amounts can become huge with time if invested for a long time. There are several plans for such needs, which can be better known by contacting the Transamerica agency network.
Cancer policies help an individual to get cover during the disease. It piles up huge expenditure which becomes very difficult to handle without the insurance. Cancer Insurance policies are a savior as it pays for the expensive treatments of the disease.
These policies provide relief during accidents which kill or leave many crippled. To provide financial respite to your family during such mishaps these policies can be bought. It offers benefits during accidental deaths, ambulance calls, eyesight loss, limb loss, hospitalization or injuries.
Tax Advantage from Life Insurance
Let us take a look at the tax advantages derived from Life Insurance:
- In general there are many tax benefits though individual policies may have distinct benefits.
- The beneficiary is paid with death benefits without having to pay any taxes.
- Tax exemption is made on policy loans in times of emergencies.
Advantages of Monumental Life Insurance
- Monumental Life Insurance prioritizes the middle and lower income groups based in the United States of America.
- They are a huge company offering endless policies and benefits to the clients in different states via licensed agents.
- They remain true to their commitments and always support their clientele with a great customer support.
- Trained personnel guide clients to choose the best suitable policies for maximum advantages.
One of the primary reasons of buying Monumental Life Insurance is that like any other life insurance this too guarantees death benefits, substituting the earning of the member. Life insurance is paid to employees so that they feel secure and continue to work in amiable conditions. Not just security for tomorrow, ample tax benefits are also assured by it.
4333 Edgewood Rd NE
100 Light Street,