Baygroup Insurance

Maryland's premier Long-Term Care insurance agency

Life Insurance

Can I still get life insurance if I use tobacco?

Yes.  You will not receive a preferred health rating if you use tobacco, so the premiums that you pay will be higher than those a nonsmoker would pay.

What factors will affect the health rating I receive for my life insurance policy?

Your rating will be determined by many factors.  Your height and weight, tobacco use, cholesterol level, health conditions, and lifestyle, as well as family health history will contribute to your health rating.  

What are the advantages of permanent life insurance?

Permanent life insurance provides a death benefit as long as you live if your premiums are paid.  As with all life insurance, the benefits are paid to beneficiaries tax-free.  Periodic review of life insurance policy is recommended.  

Some polices have the option to pay premiums for a shorter periods such as 20 years, or until age 65.  Premiums are higher, since the premium payments are made during a shorter period.  

Cash value life insurance policies may be one of several types: whole life, universal life and variable life.  

What are the advantages of term life insurance?

Term life insurance will give you protection without additional investment or cash-value components.  You will pay level premiums for the “term” of your policy.  Your policy will be effective as long as you pay your premiums on time.  If the policy owner dies during the term of the policy, the benefit is paid to the beneficiary.

How much life insurance do I need?

The answer to this question is different for everybody.  Ask yourself the following questions:

Why choose Baygroup Insurance?

Baygroup Insurance has over 40 years of combined experience in the Long-Term Care insurance (LTCi), life, disability, and health insurance markets.  Baygroup Insurance is a brokerage, which means they offer a selection of top insurance carriers to choose from.  They have sold over xxx LTCi policies.

Six Killer Mistakes on Life Insurance

For current life insurance policy holders and consumers thinking about purchasing life insurance policies.

Our Life Products

Let Baygroup Insurance help you find the life insurance coverage you need.

Baygroup Insurance is a life insurance brokerage. This is beneficial to you, the consumer, because we can help you select from many different policies to find what is best for you.

Life Insurance

What is Life insurance?

Life insurance is a contract between an insurance policyholder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") upon the death of the insured person. Some policies provide for an accelerated death benefit covering terminal illness, critical illness, or long-term care illness (chronic illness). The policyholder typically pays a premium, either regularly or as a lump sum. 
The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result in financial hardship for loved ones and lenders.  It is important to periodically review policies for premium rates and terms of contract to see that your current needs are met. 

The death benefit can be used to:

  • Cover final expenses, such as funeral costs, taxes or debts
  • Replace financial orother support that the insured person contributed
  • Provide an inheritance or fund a foundation, endowment or charitable gift

Life-based contracts tend to fall into two major categories:
Protection policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
Investment policies – where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US) are whole life, universal life and variable life policies.

Baygroup Insurance

Baygroup Insurance is an independent insurance brokerage. We provide clients with Long-Term Care, home health care, life, disability, Medicare supplement and health insurance policies from highly-rated companies.


Subscribe to RSS - Life Insurance