Need Maryland Life Insurance Quotes?

Purchasing life insurance in Maryland is an important matter and as such, it deserves significant thought and consideration. Several factors may affect your decision regarding the type and amount of life insurance that you choose to purchase. Regulations regarding life insurance vary from one state to the next. Be sure to consider the following facts, when considering the purchase of Maryland life insurance.

Insolvency coverage is limited to $300,000 in life insurance death benefits but not more than $100,000 in net cash surrender and net cash withdrawal values for life insurance in the event that your insurance provider is unable to fulfill your policy.

In terms of debt collection regarding assets, life insurance proceeds are exempt if the beneficiary is the spouse or child of the debtor.

In Maryland, the following people related to the decedent are exempt from the inheritance tax: decedent's child or other lineal descendant; a spouse; parents; grandparents; or siblings. Property passing from the decedent to any other person is subject to a 10 percent tax, as determined by the Maryland Register of Wills.

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