Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
Baltimore Life final expense life insurance is a competitively priced policy with no waiting period (if approved).
Learn how to qualify, the cost, pros & cons, and if they are your best option for final expense coverage.
How Does Baltimore Life Final Expense Insurance Work?
Baltimore life’s burial insurance plan is a simplified issue whole life policy that does not require a medical exam.
When the insured dies, Baltimore Life will pay out a tax-free cash payment directly to beneficiaries so they can pay for your funeral expenses.
There are no restrictions on how the money is used. That means your loved ones will keep any leftover money.
Baltimore Life has three separate health ratings that you could qualify for. Which one you’re eligible for depends upon your health.
If you can answer no to all the health questions, you’d be eligible for their Silver Guard I product which has no waiting period.
However, if you do answer yes to some of the health questions in the application, then you would qualify for their Silver Guard II or III plan.
Silver Guard II and III have a graded benefit. If you die during the first 12 months, the payout will only be 25% of the face value. If you die during months 13-24, the payout will be 50% of the face value.
After two years, the full death benefit is payable.
| Baltimore Life Burial Insurance Details | |
|---|---|
| Product Name | Silver Guard® |
| Policy Type | Whole Life Insurance |
| Policy Duration | Lifetime |
| Fixed Premiums | Yes |
| Builds Cash Value | Yes |
| State Availability | All States (Except MA, MN, MO, NY, NC, SC, WA, & WV) |
| New Applicant Age Range | 50-80 |
| Coverage Options | Age 50-75: $2,500-$25,000 Age 76-80: $2,500-$15,000 |
| Free Built In Riders | Terminal illness |
| Optional Riders | Accidental Death (2X the payout for accidental death) |
| Where to Apply | Agencies licensed to sell Baltimore Life products (you can't buy this plan directly from them) |
| Phone Number to Apply | 1-800-644-2926 |
| Health Questions | Yes |
| Medical Exam Required | No |
| Guaranteed Acceptance | No |
| 2-Year Waiting Period | No (subject to underwriting approval) |
| Application Approval Time | 20 Minutes |
| Brochure | Baltimore Life Brochure |
| Sample Application | Baltimore Life Application |
Cost Of Baltimore Life Burial Insurance
The cost of Baltimore Life’s funeral insurance depends on your actual age, gender, tobacco usage, health, and how much coverage you want.
Below are sample monthly quotes for their Silver Guard I (non-tobacco) plan.
| Age | $5,000 | $10,000 | $15,000 | $20,000 |
|---|---|---|---|---|
| 50 | F: $18.50 M: $20.12 | F: $31.59 M: $34.83 | F: $44.69 M: $49.55 | F: $57.78 M: $64.26 |
| 55 | F: $21.02 M: $23.54 | F: $36.63 M: $41.67 | F: $52.25 M: $59.81 | F: $67.86 M: $77.94 |
| 60 | F: $24.75 M: $28.58 | F: $44.10 M: $51.75 | F: $63.45 M: $74.93 | F: $82.80 M: $98.10 |
| 65 | F: $29.48 M: $34.47 | F: $53.55 M: $63.54 | F: $77.63 M: $92.61 | F: $101.70 M: $121.68 |
| 70 | F: $35.91 M: $44.64 | F: $66.42 M: $83.88 | F: $96.93 M: $123.12 | F: $127.44 M: $162.36 |
| 75 | F: $48.33 M: $60.89 | F: $91.26 M: $116.37 | F: $134.19 M: $171.86 | F: $177.12 M: $227.34 |
| 80 | F: $63.81 M: $81.99 | F: $122.22 M: $158.58 | F: $180.63 M: $235.17 | N/A |
Baltimore Life Final Expense Insurance Pros & Cons
- No medical exam
- Fast approvals
- Competitive prices
- Accepts a variety of common health issues
- Living benefits rider included at no extra cost
- Only B++ rating with A.M. Best
- Low coverage maximum relative to other providers
- Other final expense companies offer lower rates
- Applicants need to be in fairly good health to qualify for their no waiting period coverage
- No options above 80
- Multiple states where the product is not available
Does Baltimore Life Have The Best Burial Insurance?
Baltimore Life has a quality final expense product, which is why they made our list of the best funeral insurance companies.
But while Baltimore life is a respectable company with a quality product, they aren’t the best option.
Other burial insurance companies offer lower prices and more lenient underwriting.
For example, Living Promise from Mutual of Omaha is much less expensive.
Plus, Mutual of Omaha will accept far more health issues for their no waiting period coverage than Baltimore Life.
The key to finding the best senior burial insurance is to work with an independent agency (such as Choice Mutual) that can freely compare multiple insurance providers on your behalf.
The table below outlines many typical health issues where you’d still be eligible for no waiting period coverage with Baltimore Life.
| Product Details | Policy Type: Whole Life Insurance |
| New Applicant Age Range: 50-80 | |
| 2-Year Waiting Period: No (subject to underwriting approval) | |
| Coverage Amount Range: $2,500-$25,000 | |
| States Available: All States (except MA, MN, MO, NY, NC, SC, WA, WV) | |
| Product Benefits | Premiums Stay the Same Forever: Yes |
| Builds Cash Value: Yes | |
| Policy Duration: Lifetime | |
| Optional Riders: None | |
| Application Details | Where to Apply: Agencies licensed to sell Baltimore Life product (you can't buy this plan directly from them) |
| Phone Number to Apply: 1-800-644-2926 | |
| Medical Exam Required: No | |
| Guaranteed Acceptance: No | |
| Application Approval Time: 20 Minutes | |
Common conditions still eligible for no waiting period coverage: Aneurysm (if repaired > 2 years ago) Arthritis Asthma Blindness Cancer > 2 years ago Circulatory surgery > 2 years ago Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic coma > 2 years ago Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 2 years ago Heart surgery > 2 years ago Hepatitis A or B High blood pressure High cholesterol Insulin shock > 2 years ago Multiple sclerosis Scleroderma Seizures Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 2 years ago Tumors (non-cancerous) |
|
Who Is Baltimore Life Insurance Company?
Baltimore Life Insurance Company has been in business since 1882. They currently have a B++ rating with A.M. Best, indicating they are financially secure.
They offer a wide variety of insurance products. They have diverse insurance offerings, including various life insurance products and retirement plans.
They operate in 49 states, including the District of Columbia. Their main office is located in Baltimore, Maryland.
Below is their contact info:
- Website: www.baltlife.com
- Phone: 1-800-628-5433
- Corporate address: 10075 Red Run Boulevard, Owings Mills, MD 21117-4871
Baltimore Life earned 3.5 stars out of 5 for overall performance. Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, complaint data from the National Association of Insurance Commissioners, and financial strength ratings.
Learn about our rating methodology.
Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that are known to provide accurate information. You can learn more about our editorial standards, which guides our mission of delivering factual and impartial content.
- 1882. https://www.baltlife.com/about-us/corporate-our-history
- A.M. Best. https://www.baltlife.com/about-us/corporate-ratings
- www.baltlife.com. https://www.baltlife.com
