Baltimore Life Insurance Company(Maryland)Overview; Membership, finances, Claims, Ratings, Reviews And Many More

Baltimore Life Insurance Company has given financial security to Americans for seven generations. It’s a mutual company, meaning policyholders own it.

Baltimore Life Insurance Company

Meet Baltimore Life Insurance Company

It’s a mutual company, meaning policyholders own it. They offer various insurance products for families, like term life insurance. To get in touch, call (410) 581-6600 or (800) 628-5433, or write to The Baltimore Life Companies at 10075 Red Run Boulevard, Owings Mills, MD 21117-4871.

A Brief History About This Company

In 1882, the Baltimore Mutual Aid Society established what we now know as the Baltimore Life Insurance Company. This company weathered the Great Depression, various recessions, and two wars.

They were pioneers in selling life insurance in the United States and virtually dominated slave life insurance until the late 1840s.

They likely became the first to underwrite slaves’ lives in the United States. By the time the Civil War was on the horizon, about half of the policies sold were for insuring slaves.

Today, Baltimore Life Insurance Company protects over 234,000 individuals, families, and businesses in communities all across America.

Contact Information

Here are the contact details

Contact Method Information
Postal Address The Baltimore Life Companies, 10075 Red Run Boulevard, Owings Mills, MD 21117-4871.
Phone Number (410) 581-6600 or (800) 628-5433.
Fax Number (866) 660-6253.
Virtual Customer Service Center Available 24/7. They typically respond within two business days.

What Are The Benefits of Joining Baltimore Life Insurance Company

Baltimore Life Insurance Company, serving policyholders for over 140 years, offers various life insurance options. Some benefits of joining Baltimore Life Insurance Group include:

  1. Steady Premiums: Your policy’s premiums stay the same for its duration.
  2. Accumulating Cash Value: Your policy grows cash value over time, which you can use for loans or premium payments.
  3. Uninterrupted Coverage: As long as you pay your premiums on time, your policy won’t be canceled.
  4. Flexible Payments: Baltimore Life’s FPRA offers adaptable premium payments, guaranteed income choices, and different payout options.

Baltimore Life Insurance Company

 

Financial Details

Baltimore Life Insurance Company, a mutual company, provides various insurance products through independent agents and agencies across the country. You won’t find premium costs, payment options, or discounts on their website. For details, it’s best to contact them directly to learn about their products and services.

Product And Services Offered By This Company

Baltimore Life Insurance Company provides a wide range of products and services to meet the needs of individuals, families, and businesses.
They offer life, retirement, and workplace insurance. Additionally, they provide services like financial needs analysis, the ScriptSave® WellRx Card, personal planning guide, a community grants program, and an identification program.
Baltimore Life sells annuities, supplemental group life policies, and individual life/critical illness insurance. You can get these products through the company or independent sales agents.
Their life insurance products include a guaranteed level death benefit, fixed premiums for the initial coverage period, an option to switch to permanent life insurance, and flexible coverage periods (10, 15, 20, or 30 years). You can also enhance your coverage with optional riders.

Filling Claims

To file a claim with Baltimore Life Insurance Company, follow these steps:

  1. Get a death claim form by calling the Customer Service Department at 1-800-628-5433, option 4, or by emailing them at info@baltlife.com. You can also find it on their website under “Contact us.”
  2. Submit a completed claimant’s statement, a death certificate, and the original policy (if available). Additional documents may be needed in certain cases, like an accident report for accidental deaths or Letters of Administration if the beneficiary is the estate.
  3. If the death benefit is $10,000 or less, a copy of the death certificate suffices. If it’s $10,000 or more, a certified death certificate is required.
  4. If the death benefit is $10,000 or below, fax or scan the claim paperwork. If it’s $10,000 or more, mail the paperwork to:The Baltimore Life Insurance Company Attn: Claims Department 10075 Red Run Blvd. Owings Mills, MD 21117

    Fax: (866) 879-9867 E-mail Address: claimsfax@baltlife.com

Your claim typically gets processed within 10 business days

Company’s Ratings

Baltimore Life Insurance Company gets ratings from two credit agencies: A.M. Best and Kroll Bond Rating Agency (KBRA). A.M. Best rates them as “B++,” which means it’s considered “very good.” KBRA gives Baltimore Life an insurance financial strength rating (IFSR) of A- with a Stable Outlook.

These ratings from A.M. Best give an independent opinion about the company’s financial strength and its ability to meet its obligations to policyholders. But they don’t endorse specific policies, contracts, rates, or claims. A.M. Best looks at the company’s balance sheet strength, how it’s performing, and its business profile, comparing it to their standards.

KBRA, on the other hand, uses their own criteria to rate the company. They evaluate Baltimore Life’s financial strength, management team, and business model.

Customer Reviews , Complaints And Resolutions

MoneyGeek and Investopedia have reviewed Baltimore Life Insurance Company. According to them, Baltimore Life offers various life insurance policies with flexible terms and guaranteed coverage up to 100 years old.

However, they have a higher-than-average customer complaint ratio, which is more than two times the national index.

Investopedia also mentions the high number of consumer complaints about Baltimore Life. Specifically, their individual life insurance segment has a complaint ratio nearly twice as high as the industry index.

Although I couldn’t find details about how customer complaints are resolved, Baltimore Life Insurance Company’s virtual customer service center is available 24/7. You can submit your questions and comments on their website.

Baltimore Life Insurance Company

Cooperate Responsibility

Baltimore Life Insurance Company’s corporate mission is based on openness, honesty, integrity, respect, and making a positive impact. They’ve been looking out for the interests of their policyholders, agents, employees, and communities since 1882. Their mission is to ensure the financial security of middle-income families, always remembering that the money they handle belongs to the policyholders.

FAQ’S

The only question most people ask is how to file a claim .

 

 

 

 

 

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