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 and does not accrue cash value. It may 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 - Offers protection and premiums that remain constant for five years. Coverage levels range from $5,000 to $25,000
    
    
  • Flex Term 7 - Offers protection for seven years. Coverage levels begin at $25,000.
    
    
• Whole Life Insurance - This policy is designed for permanent, lifelong protection. As its cash value is accumulated over the life of the policy, people typically purchase this 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 flexible premiums and varying degrees of coverage to accommodate a family's ever changing needs. A minimum coverage of $50,000 is required for those ages 0 to 39, and $25,000 for those 40 to 75.
  
  
• Health Coverage - Monumental's health policies are designed to cover general health concerns, accidents, and injury. It is not used as a primary policy, but rather, as an additional source to supplement existing medical insurance plans and to assist with costly medical bills. Some of the specific coverage options include:
  
  
  • Cancer treatments
  • In-patient and out-patient medical expenses
  • A one-time lump sum payment at the time of cancer diagnosis
  • Accidental death and injury
  • Health care discount cards.