About Monumental Life
Monumental Life is a company that has enjoyed a long history of helping people with their insurance needs. Founded in 1858, in Baltimore, Maryland, the company now has offices in 21 states, mainly on the East Coast, but in California and Arizona on the West Coast. One of the largest life insurance companies in the country, it is licensed to operate in all states except New York. A member of the Aegon Group, Monumental Life is a significant player in the life insurance industry, offering a variety of policies as well as health coverage.
Monumental Life Products
Monumental Life offers an array of products to choose from, including:
- Term Life Insurance - This policy offers protection for a specific period of time, when insurance is needed. It does not accrue cash value and may also be purchased for a particular need, such as financing a home loan or college education. There are two options under this policy: Value Term 5, which offers protection and premiums that remain constant for five years, at a coverage levels ranging from $5,000 to $25,000; and Flex Term 7, which offers protection for seven years, and begins at $25,000.
- Whole Life Insurance - This policy is designed for lifelong permanent protection. Its cash value is accumulated over the life of the policy. People typically use this policy for end-of-life expenses, such as funerals, legal costs, and debt repayment.
- Interest Sensitive Whole Life Insurance - Similar to whole life insurance, the conditions are the same except that the cash value accumulation is determined by the market-sensitive interest rates. It comes with a guaranteed death benefit and cash values, as well as consistent premiums.
- Universal Life Insurance - This policy offers great flexibility to accommodate a family's changing needs and is best suited for those not requiring fewer guarantees. It offers coverage and flexible premiums for individual insurance needs. A $50,000 minimum coverage is required for those ages 0 to 39, and a $25,000 for those 40 to 75.
- Health Coverage - Monumental's health coverage is designed to cover general health concerns, accidents, and injury. This policy is used as a supplement to existing medical insurance plans. It is not used as a primary policy, but rather as an additional source to assist with demanding medical bills. Some of the specific coverage options include cancer treatments, including inpatient and outpatient medical expenses; a one-time lump sum payment at the time of cancer diagnosis; accidental death and injury; and a healthcare discount card.
Monumental Life Headquarters
Monumental Life is located at 2 East Chase Street, Baltimore, MD 21202.
