Life Insurance and Annuities

Your need for life insurance varies with your age and family responsibilities . It is a very important part of financial planning. There are several reasons to purchase life insurance . You may need to replace income that would be lost with the death of a wage earner. You may want to make sure your dependents do not incur significant debt when you die. Life insurance may allow them to protect assets versus selling them to pay outstanding bills or taxes​. Consumers should consider the following factors when purchasing life insurance:

• ​Medical expenses incurred prior to death, burial costs and estate taxes;
• Support while surviving family members try to secure employment; and
• Monthly bills and expenses, day-care costs, college tuition and retirement ​
  

While the Maryland In​surance Administration does not sell insurance and we cannot recommend a particular policy or insurance company, we do want to help you learn what types of coverage are available. Additionally, we are here to assist you if you have a complaint​​ involving an insurer, an insurance producer, public adjuster or adviser.​

• Consumer Guide to Life Insurance​​
  Guía Para El Consumidor: Seguro de Vida
  소비자 안내서 – 생명 보험
• Overview: Here's what you should kn​ow before you purchase life insurance​ ​
• Consumer Advisory - Universal Life Insurance
• Life Insurance for Military Personnel
• Retained Asset Accounts and Life Insurance - What Consumers Need to Know About Life Insurance Benefit Payment Options
• Group Life Insurance Terminations
  Information for when an employer cancels your group life insurance policy
• Viatical Settlements - A Guide to Selling Your Life Insurance Policy
• FAQ - Life Insurance​

Miscellaneous

• Life Insurance Policy Locator
  Frequently Asked Questions
• Cemeteries, Funeral Homes and Monument Dealers
  Information about pre-burial needs from the Department of Labor Licensing and Regulation
• Maryland Life & Health Insurance Guaranty Corporation​

• A Consumer Guide to Annuities
  
• Overview: Here's what you should know before you purchase an annuity​
  
• Maryland Life & Health Insurance Guaranty Corporation
• Webinar: Annuities 101: Video
  
• ​Consumer Advisory: Trading Your Annuity for a New One​
  

• Life Insurance for Young Adults: Video
  
• Webinar: Annuities 101: Video
  
• Don't let life insurance policy benefits go unclaimed: Video
• How to find a missing life insurance policy: Video
• How to Purchase life insurance: Video
• What is Universal Life Insurance? Vid​eo​
• The LIfe and Health unit is here to help: Video
• The Life and Health Complaints unit may be able to Help: Video

​​​​Read our Consumer Publications. These materials provide information about most types of insurance from auto, homeowners, health and life policies to annuities, title insurance and coverage for boats.

If your community group, HOA or organization is interested in a virtual presentation contact Joyce Peach at joyce.peach@maryland.gov​.

​Use the Life Insurance Policy Locator to help located life insurance policies and annuity contracts of a deceased family member or close relationship:

Click here to watch recorded webinars or video content:​