Monumental Life Insurance Company Review

UPDATE: as of 2014, Monumental life insurance company is known as Transamerica. The company has changed names, but they continue to offer excellent coverage at an affordable rate. While the name has changed, everything in the article still applies to the company. Transamerica is a great option for anyone that’s looking for quality and affordable life insurance.
When you’re looking to get life insurance coverage, there are thousands of  life insurance companies on the market, it’s important that you find the best coverage for your family. Every insurance company is different, which means that you can get drastically different rates depending on which company that you get the quote from. Finding the right life insurance company could be the difference in getting an affordable plan, or spending hundreds of extra dollars on your coverage.
Life insurance is the best investment that you can ever make for your loved ones. If something tragic were to happen to you, your family members would be left with all of your debts and other final expenses, which is going to make the situation a thousand times worse. Life insurance coverage will ensure that your family will have the money that they need.
Monumental Life insurance company is one of the oldest life insurance companies in the country.  As a part of the Aegon group they are a very well respected insurance company.

Monumental Life Insurance History

Founded in 1858 as Maryland Mutual Life and Fire insurance company, Monumental life insurance company was the first life insurance company in Maryland.  Later they made the decision to stop issuing to stop issuing both fire and life insurance during the Civil War and, after the war, reemerged as Mutual Life insurance company of Baltimore in 1870 and was one of the first companies to target German immigrants in 1870.  They hit their first big milestone in 1880 when they hit the mark of $1 million of life insurance in force.
Monumental life insurance made waves when they hired their first female employees in 1918.  From here they started expanding nationwide starting with office in St. Louis, Cleveland, and Columbus.
To support the war effort Monumental Life insurance purchased 2.9 million in U.S. treasury bills and invested $4.5 million in war-related manufacturing companies.  They also put all their agents “on-foot” as a part of helping to preserve gasoline and oil.
Monumental moved to being at the forefront of technology by purchasing their first IBM mainframe computer in 1957 and celebrated their 100 year anniversary the next year in 1958 and converted all weekly premium debit records to their electronic data processing system the following year.
While there were some great accomplishments through the next 30 years none of them compared to being purchased by the Aegon Insurance Group.  This gave the company better financial footing and allied them with other insurance companies like Stonebridge Life Insurance.  Since this time the company has been solely tied to Aegon and all the accomplishments of that larger company.

Policy Options through Monumental

When you’re looking to get life insurance coverage, it’s vital that you pick the best plan for you and your family. There are dozens of plans, and each of them has a different advantages and disadvantages that you should take note of.
Through Monumental, the most popular kind of life insurance is a term life insurance plan. These plans are with bought with a pre-determined expiration date attached to them. Once that point has passed, these plans are no longer active, which means that you’ll have to reapply for a new policy. Because these plans are temporary, they are going to be the most affordable option for life insurance protection. If you want to save money on your life insurance, a term plan is going to be the best option.
Another option is a whole life insurance policy. These policies are a form of permanent insurance coverage. As long as you pay the monthly premiums for the coverage, it will never expire. These plans are a great option for anyone that doesn’t want to reapply in the future. Because these plans are a permanent form of coverage, they are going to be more expensive than a term life plan.
Additionally, there are several other types of unique coverage that Transamerica offers. They sell both universal life and variable universal life insurance plans. Both of these life insurance plans are permanent plans, which will never expire. With a variable universal life insurance plan, you’ll have the flexibility of changing your premium amount and the face value of the plan. This is an excellent choice for anyone that want to option to change the value in the future. These plans are going to be more expensive than some of the other options from Monumental.

Getting Affordable Life Insurance Coverage through Monumental

When you’re shopping for life insurance, regardless if you chose Monumental or a different company, it’s important that you get the most affordable premiums available. One of the most common reasons that people don’t purchase an insurance plan is because they assume that it’s going to be too expensive to fit in their budget. Making a few simple changes could help you save thousands of dollars throughout the course of your life insurance plan.
Before you apply for life insurance coverage, you’ll need to eliminate any tobacco that you use. If you’re listed as a smoker on your application, you can expect to pay much higher premiums. If you want to save money on your life insurance plan, you’ll need to kick those bad habits once and for all. Quitting those bad habits can cut your life insurance premiums in half.
Another way that you can save money is to improve your overall health. Before the insurance company approves your application, they are going to require that you take a medical exam. The results of the exam are going to play a major role in how much you pay for your coverage. If you want to save money on your life insurance, you’ll need to get better results. If your health is too poor to pass the traditional medically underwritten life insurance policy, there are other options available for you to still be able to get the coverage that you deserve, such as a no medical exam required life insurance policy, which will come with a higher premium rate.
The best way to do this is by starting a healthy diet and by getting regular exercise. Both of these will help you lose weight, lower your cholesterol, lower your blood pressure, and reduce your risk of being diagnosed with health complications. If you want to save money, it’s time to start hitting the gym and sticking to healthy foods.
The best way to insure that you’re getting the lowest premiums is to work with one of our independent insurance brokers. Unlike a traditional insurance agent, independent brokers work with dozens of highly rated companies, which means that an independent agent can bring you all of the lowest rates directly to you. Every insurance company is different, which means that you can get drastically different rates depending on which company that you get the quote from. Instead of wasting your time calling all of those companies yourself, let one of our agents do all of the work for you. It’s our mission to connect you with the best plan to meet your needs.

Monumental Life Insurance Company Ratings

Rating for life insurance companies are done by A.M. Best Company who specializes in credit ratings for insurance companies.  A.M. Best gives Monumental an A+ rating which is the best rating they give out of the ten different grades in their rating system.  In our service ratings, which come from an independent company, they are given five out of five stars.  This means not only can you count on Monumental Life Insurance Company to be around but to also take care of your heirs, in the event a claim is made.
If you are interested in getting a set of free quotes use the form on the side of this page.  It would be our honor to help you decide what is the best life insurance for your needs.  If you have any questions or if there is any way we can serve you please feel free to contact us.
Because you never know what life’s going to throw at you tomorrow, you shouldn’t wait any longer to get the insurance protection that your family deserves. If something tragic were to happen to you, your family would be left with a mountain of debt, which is going to make the situation a thousand times worse. Don’t wait any longer, contact one of our agents today and we would be happy to get the process started.