Life insurance by state · MD
Life insurance in Maryland
What Maryland law gives you, which carriers quote in Maryland, and how to get covered — from an independent agency licensed in Maryland.
The short answer
Maryland residents can choose from 11 final expense and 15 term life carriers we work with that quote in Maryland. New policies typically come with a 10-day free look, and the state guaranty association backs life insurance death benefits up to $300,000.
Your protections in Maryland
| Regulator | Maryland Insurance Administration |
|---|---|
| Free-look period | Typically at least 10 days · 30 days for replacement policies (COMAR 31.09.05.06A(5)) |
| Guaranty association | Maryland Life & Health Insurance Guaranty Corporation: up to $300,000 death benefit, $100,000 cash value (overall per-person cap applies) |
| Community property state | No |
| State estate / inheritance tax | Estate tax: yes · Inheritance tax: yes — Inheritance tax: life insurance benefits payable to a named beneficiary other than the decedent's estate are exempt (Register of Wills; Tax-General § 7-203); spouses, children, parents, siblings and other close relatives are exempt anyway, while collateral heirs and friends pay 10%. Estate tax: $5,000,000 exclusion (Tax-General § 7-309) on the federal gross estate, so a policy the deceased owned can count toward it. |
Good to know in Maryland
- Under Md. Code, Ins. § 16-109, interest on a life insurance death benefit runs from the date of death until payment (or from the date proof of death is submitted, if that is more than 180 days after death) unless the insurer pays within 30 days of death, at no less than the insurer's rate on proceeds left on deposit. Source
- Under Md. Code, Health Occ. § 7-405, a seller of a Maryland pre-need funeral contract must deposit, within 10 days of each payment, 100% of payments for services, 80% of the casket or vault price, and 100% of payments for other goods into a federally insured interest-bearing escrow or trust account. Source
Carriers we work with that quote in Maryland
Final expense / burial: Aetna · American Amicable · American Home Life · Americo · Fidelity · Foresters · Mutual of Omaha · NewBridge · Royal Neighbors · Transamerica · UHL
Term life: American Amicable · Americo · Catholic Financial · Foresters · InstaBrain · John Hancock · Kansas City Life · Mutual of Omaha · National Life Group · Primerica · Protective · Royal Neighbors · SBLI · Transamerica · UHL
From our quoting system’s Maryland results (September 2026). Product availability and rules vary by carrier and change over time.
How to get covered in Maryland
- Figure out how much you need — final expense calculator or mortgage protection calculator.
- See typical prices by age — life insurance cost by age.
- Tell us your health history — we match you to the Maryland carrier most likely to approve you at the best price (condition guides).
- Apply by phone with an e-signature — many decisions are instant or same-day.
Licensed in Maryland. Compare dozens of carriers in one free call — no pressure.
Get my quotes → Call 586-343-1505Sources: Regulator · Guaranty association · Free-look rule · Estate/inheritance tax
Straight answers
Life insurance in Maryland — FAQ
How long is the free-look period for life insurance in Maryland?
New individual life insurance policies sold in Maryland typically give you at least 10 days to review the policy and cancel for a full refund (30 days for replacement policies (COMAR 31.09.05.06A(5))). The exact window is printed on your policy’s first page.
What happens to my life insurance if the company fails in Maryland?
The Maryland Life & Health Insurance Guaranty Corporation protects Maryland residents up to $300,000 in life insurance death benefits and $100,000 in cash value, subject to an overall per-person cap. It’s a backstop — choosing a financially strong carrier still matters.
Who regulates life insurance in Maryland?
The Maryland Insurance Administration. You can verify an agent’s license or file a complaint with them.
Can I buy life insurance in Maryland by phone?
Yes. United Eagles Financial is licensed for life insurance in Maryland; most applications are done by phone or video with an electronic signature.