Life - Life Insurance
to Baltimore Life
their founding in 1882, the Baltimore Life Companies have
provided reliable and affordable life insurance coverage for
six generations of policy owners. Baltimore Life attribute
this longevity and success to their ability to change with
the times through their four sales divisions. The Home Mutual
Life Insurance Company recently merged with them, creating
a new sales division with a tradition of offering whole life
and annuity products through home service. Another new division,
Worksite Marketing, is capitalizing on strong consumer demand
for the convenience of purchasing life insurance and related
products at work. Their Team Advantage division recently reinvented
itself to better serve individual customers. And Independent
Sales continues to form partnerships with specialty marketers
who share their commitment to serving niche markets.
The Baltimore Life History
1882 Baltimore was the 6th largest city in the 38 United States,
and was enjoying one of its greatest periods of growth and
prosperity. It also was the year that five businessmen founded
the Baltimore Mutual Aid Society of Baltimore City to "benefit
members in case of disability from sickness or accident, bury
the dead, and relieve widows and orphans." The new society
boasted a scant $260.93 in assets.
company continues to protect families throughout the United
States. It is the oldest and largest mutual life insurance
company in Maryland, the 37th oldest in the United States,
and is currently licensed in 49 states and the District of
Columbia. The company is owned by its policyowners and managed
for their benefit. To provide financial stability to its policyowners,
the company maintains high standards of conservative financial
management. Profits are either returned to policyowners or
reinvested in the company to increase the protection of their
investment. As a measure of its financial strength, both Baltimore
Life and Life of Maryland (its stock subsidiary) maintain
excellent financial ratings from the A. M. Best Company and
Standard & Poor's. The companies' financial strength is
greater now than at any time in its history. Baltimore Life's
surplus as a percent of assets ranks well above industry averages.
years after its founding, the company passed a novel resolution
that was to change the face of insurance in America: "...that
on and after the first day of July 1884, death claims be paid
within 24 hours after satisfactory proofs are furnished."
This action, unusual because most insurance companies took
as much as 60 days to settle a death claim, was named The
Resolution of 1884, and it has been in effect ever since.
1900, the company changed its name to The Baltimore Life Insurance
Company of Baltimore City. Another milestone in the company's
history was the stock market crash of 1929, when thousands
of people turned to their life insurance companies for ready
cash, they were there to help.
its first century, Baltimore Life specialized in writing individual
life insurance products through a home service system, serving
families in the Mid-Atlantic states. In response to rising
interest rates and changing competitive pressures, the company
formed a subsidiary in 1981: Life of Maryland, which specializes
in interest-sensitive products.
the beginning of its second century, in 1982, the company
formed a new sales division to offer interest-sensitive products
through general agents and brokers. Today the Independent
Sales Division targets specialty markets through independent
marketing organizations throughout the United States.
the leadership of L. John Pearson, CLU, the company's tenth
President and Chief Executive Officer, marketing efforts have
been expanded to substantially increase growth and services
offered to policyowners. Mr. Pearson initiated several new
strategies to position the company to move into the Twenty-First
Century from a position of strength. These strategies include:
the Worksite Sales Division to offer employer groups nationwide
a unique package of services.
a new team approach to marketing in the company's Career
Sales Division. This unique approach uses teams to increase
productivity and provide better service to policyowners.
internal company operations to streamline service and
Investing in an expanded computer system to support substantial
growth and excellent customer service.
of Home Mutual Life Insurance Company. They then created
a new Home Mutual sales division, which increased their
client base and enhanced their competitiveness.
strategies will support both the substantial growth the company
has experienced in recent years and position the company for
the future. (In 1997, the company achieved record sales and
increased assets, surplus and net income to the highest levels
in the company's history.)
Life has proudly fulfilled its financial responsibility to
the six generations of customers who have invested their trust
in the company. With its tradition of growth, reliability,
and service, Baltimore Life will continue to serve the nation
for generations to come.
Baltimore Life - Life Insurance
of Baltimore Life's goals as an insurer is to educate their
consumers to make wise insurance decisions. They have devoted
this section as an educational aid to their online visitors.
A glossary of insurance terms is included to help you understand
various words and phrases you often here when dealing with
insurance-related matters. Also included are links to insurance
publications and web sites that they found to be very useful.
Baltimore Life also encourage you to take advantage of their
free life insurance materials offer.
10075 Red Run Boulevard,