How to locate a loved one’s life insurance policy
Maryland, named for Queen Henrietta Maria and nicknamed the Old Line State, is a small but undeniably powerful part of the Union. Consider Maryland the ninth smallest state (by area), but it ranks nineteenth in terms of population and has the distinction of being the richest state in the country, with residents enjoying the highest median household income in the US. Surrounded by so many neighbors and with so much to protect in their homes, purchasing insurance in Maryland should be a top priority for responsible residents.
Thousands of professionals open their doors
Apparently, the majority of Maryland residents are answering the coverage call; The state has a thriving $ 27 billion insurance industry and has more than 47,000 professional insurance agents and more than 1,400 insurance companies serving policyholders in the state. Sure, agents and insurers will be very busy dealing with claims stemming from Sandy, the super storm that hit the East Coast recently. Historically, hurricanes and tropical storms have posed a danger to Maryland residents, increasing streams, rivers, bays, and tributaries to the point of flooding.
Since 1872, Maryland residents have had the Maryland Insurance Administration on their side. The agency acts as a regulatory body for the state’s insurance industry, monitors the creditworthiness of insurance companies, provides materials for consumers to learn more about insurance, and investigates consumer complaints. The Administration is responsible for resolving nearly $ 17 million in disputes related to life, health, property and accidents in 2009.
Also solidly in their clients’ corner are professional insurance agents, who offer a host of insurance products and advice. Insurance agents (or producers, as they are known within the industry), help consumers understand the complexities of insurance: life and health insurance, and / or property and casualty insurance, explaining features and benefits , comparing products of different insurance companies and offering Advice based on an analysis of the particular needs of the client. Independent agents offer insurance policies from a variety of companies, while so-called “captive” agents represent a single insurance company and only offer the insurance products of that company for sale.
See a professional agent for advice and guidance.
Of course, a professional insurance agent does much more than just sell insurance policies. He or she is a vital resource for detailed coverage information that is specific to the policyholder, information that may not be available on the Internet, if it is, and is certainly not designed to fit the specific risk and to the financial profile of the reader. An agent is there to answer complex questions about coverage details, provide valuable contextual risk management advice, and lead the way to a successful resolution when the time comes to file a claim. A professional insurance agent is a trusted advisor, especially after an extreme weather event, so one can be sure insurance agents’ phones will ring off the hook these days with calls from insurance-concerned consumers in Maryland. .
