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Our Baltimore Life Insurance Review: Standard Plans, High Rates

Updated on Mar 10, 2025 • 12 min read

The Baltimore Life Insurance Company is a quality provider with over 140 years of reputable service, but their options and rates leave a little to be desired. In addition to life insurance, their selection of financial services includes workplace insurance, home mortgage insurance, and retirement savings products.

They offer a few final expense life insurance policies designed with seniors in mind, with a large selection of built-in and optional life insurance riders for extensive customization. Unfortunately, while Baltimore Life Insurance Company’s options are quite interesting, their rates are quite pricey, especially compared to other quality providers like Mutual of Omaha and Aetna Accendo.

Final Expense Benefits is here to help you understand the life insurance market thoroughly so you can find a plan that works for your needs. Baltimore Life Insurance may be an expensive choice, but we work with over 20 of the best life insurance providers on the market. Contact us to learn more.

If you’re interested in our final expense insurance options, call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET. Be sure to check our free online quoting tool for personalized pricing estimates.

History of Baltimore Life Insurance Company

The Baltimore Life Insurance Company was founded in 1882 as “The Baltimore Mutual Aid Society of Baltimore City”. Life insurance was in its early stages at that point. They expanded over the next fifty years and built a large high-rise in downtown Baltimore. Their current headquarters are in Owings Mills, Maryland.

Baltimore, Maryland, USA Skyline on the Inner Harbor

The Baltimore Life Insurance Company currently insures over 300,000 individuals, families, and businesses. They are owned by the Baltimore Financial Group, Inc., and provide annuities and other retirement services in addition to their life insurance options.

Baltimore Life Insurance Policy Options

Baltimore Life Insurance offers a few whole life insurance options that can be used as final expense insurance alongside a selection of term and universal life policies.

1

Silver Guard Senior Life

Silver Guard is Baltimore Life’s main final expense insurance option and is available as a simplified-issue plan to seniors ages 50 to 80. This means applicants often don’t need to undergo a medical exam, and the application process is quick, only requiring a few simple medical questions. In most cases, applicants can get approval the same day.

Silver Guard has two health categories: Silver Guard Standard and Special. Silver Guard Standard is the better category, offering the best rates to those in the best health with an immediate payout. Underwriting guidelines for this level are strict, though some limited preexisting conditions won’t prevent you from getting coverage. Payouts start at $2,500 for each plan. $25,000 is the maximum benefit for Standard, while Special’s maximum is $15,000.

Silver Guard Special is for applicants who smoke or are in poorer health. It pays benefits in a modified structure with a two-year waiting period. If the policyholder dies in the policy’s first two years, only a portion of the death benefit will be paid until the waiting period ends. 

Like all whole life insurance policies, Baltimore Life Silver Guard grows in cash value, and premiums stay the same over the policy’s lifetime.

2

aPriority Whole Life Insurance

aPriority Whole Life is another solid final expense choice. Baltimore Life offers aPriority as an income replacement policy, similar to a term life policy. Coverage starts at $15,000 and goes up to $150,000 for applicants ages 18-80. Seniors ages 61-80 seeking coverage over $75,000 likely need a medical exam.

aPriority is a whole life plan and grows in cash value over the policy’s lifetime. Baltimore Life Insurance offers a few optional riders for this policy.

Baltimore, Maryland, USA cityscape overlooking little Italy and neighborhoods.

Also available is an option to pay an increased premium rate to fully pay off the policy’s cost in 20 years, rather than paying monthly across its entire lifetime.

3

Single Premium Whole Life

Single Premium Whole Life is available to seniors ages 50 to 85, primarily as an alternative to investing for estate purposes. This whole life policy isn’t as well-suited to final expense insurance as the Silver Guard policy, but it can be a useful tool for providing an inheritance or emergency cash access in a tax-free account.

Baltimore Life Insurance Single Premium Whole Life is available for seniors ages 50 to 85 with benefits between $5,000 and $150,000. This policy grows in cash value like other whole life plans and has several optional insurance riders.

4

Protector and aPriority Level Term

Unlike whole life insurance, term life insurance doesn’t provide constant coverage until the policyholder’s death. Instead, coverage is offered over specified periods, useful as a lower-cost income replacement for working families.

Terms for Baltimore Life Protector and aPriority level term life insurance range from 10 to 30 years. Like their whole life plans, Baltimore Life Insurance offers extensive customization through a large list of insurance riders.

Death benefits range from $25,000 to $150,000 for applicants ages 15 to 75. Coverage extends to age 100, and policyholders can convert term plans into whole life.

5

aPriority Universal Life Insurance

Universal life insurance is similar to whole life, but the policyholder can change the death benefit and monthly payment

Baltimore Life Insurance’s universal option, aPriority Universal, is fine for universal policies, but Final Expense Benefits generally advises selecting simpler plans like final expense insurance. Rates and death benefits can get complicated with universal policies and lead to issues down the road.

How Much Does Baltimore Life Insurance Cost?

Baltimore Life Insurance’s rates are roughly in line with industry standards around age 50 but sharply increase at higher ages. Additionally, their best rates are on the standard Silver Guard policy, which has strict underwriting and health requirements. Sample rates are available on Baltimore Life Insurance’s website.

Here are sample rates for a $10,000 policy from our top-rated final expense insurance providers for a non-smoking applicant with no preexisting conditions:

Company Male
50y/o
Female
50y/o
Male
60y/o
Female
60y/o
Male
70y/o
Female
70y/o
$34
$27
$50
$40
$70
$56
$31
$26
$43
$35
$71
$53
$31
$24
$44
$33
$75
$53
$34
$29
$45
$35
$79
$59
$33
$26
$48
$36
$82
$58

These figures are estimates only, based on a $10,000 final expense insurance policy with no applicant pre-existing conditions.​

If you’re interested in our final expense insurance options, call us at (866) 786-0725 Monday through Friday, 9 a.m. to 5 p.m. ET. Be sure to check our free online quoting tool for personalized pricing estimates.

Other Baltimore Life Insurance Coverage Options

Baltimore Life Insurance offers a few whole life insurance options that can be used as final expense insurance alongside a selection of term and universal life policies.

1

Baltimore Life Insurance Riders

Life insurance riders are optional extra coverage for life insurance policies. Baltimore Life offers a wide selection of riders:

  • Accelerated Death Benefit Rider
    Available with the Silver Guard, aPriority whole life, and Protector term life policies at no extra cost, this rider pays a portion of the death benefit if the policyholder is diagnosed with a terminal illness or is confined to a nursing facility.
Baltimore, Maryland, USA Skyline on the Inner Harbor at dusk.
  • Accidental Death Benefit Rider
    This rider pays an additional benefit if the policyholder dies in an accident before age 70. It can be added to policies if the policyholder is between ages 15 and 65 and is available on the Silver Guard, aPriority whole life, and Protector term life plans.
  • Children’s Insurance Benefit Rider
    The children’s insurance rider provides additional coverage for current and future children. It covers children until they turn 25 or the policyholder reaches age 70, whichever comes first.  It’s available on the aPriority whole life and Protector term life policies.
  • Disability Income Rider
    If the policyholder ages 18-55 becomes disabled, Baltimore Life pays them a monthly benefit for up to two years. It’s available on the aPriority whole life and Protector term life plans. 
  • Guaranteed Insurability Option
    This rider allows aPriority whole life policyholders to purchase additional insurance coverage until age 40 with no health exam.
  • Single Premium Additional Insurance Rider
    aPriority whole life policyholders can use this optional rider to purchase an extra policy to add to their existing coverage. This additional policy is paid under the same premium as the existing aPriority plan.
  • Waiver of Premium for Disability
    Only available with the Protector term life plan, premium payments are covered by Baltimore Life Insurance if the policyholder becomes disabled before age 60. Baltimore Life pays premiums until the policy ends or the policyholder recovers.

2

Generation Legacy

Generation legacy combines a whole life insurance policy and an annuity under a single monthly premium. Baltimore Life Insurance offers this policy to applicants ages 60 to 80 as an alternative way to provide a tax-free inheritance to loved ones.

3

Critical Illness Insurance

Baltimore Life’s Critical Illness Insurance covers medical expenses from major medical issues. It can cover expenses not typically covered by health insurance, like home health care, copays, and deductibles. Covered illnesses include cancer, heart attacks, kidney failure, major organ transplants, and strokes.

Baltimore Life Insurance Company Insurance Pros and Cons

Pros

  • Extensive insurance riders

Many Baltimore Life Insurance policies offer several riders. Riders allow you to customize your life insurance coverage to your needs.

  • Helpful website

Baltimore Life offers several financial services, not just life insurance. Their website has extensive information about their retirement planning and financial health services.

Cons

  • Strict underwriting

Eligibility for Baltimore Life’s best final expense insurance is strict. To qualify for the best rates, applicants need to be in good health, leaving seniors with health concerns like diabetes, obesity, COPD, high blood pressure, or Epilepsy with a pricier policy as their only option.

  • Higher premium rates

While premium rates for those in the best health are similar to industry standards for seniors around 50, prices sharply increase for older applicants. Rates for anyone not eligible for the best health ratings are also higher than average.

  • Medical and prescription drug checks

Some Baltimore Life Insurance policies may require a medical exam, health questionnaire, and a prescription drug check.

  • Lower financial rating

Baltimore Life Insurance’s financial outlook rating is lower than many of our top-rated providers.

  • Low final expense insurance death benefits

Silver Guard, Baltimore Life Insurance’s main final expense plan, has a low death benefit maximum of $25,000.

  • No guaranteed-issue policy

While guaranteed-issue life insurance can be quite pricey, it’s still the best way to get coverage for those in dire health. Baltimore Life offers no guaranteed plans, which are the only way to get coverage for seniors diagnosed with Alzheimer’s or Dementia or confined to a nursing facility.

Baltimore Life Insurance Review: Third-Party Rating Services

1

AM Best Rating

AM Best is an agency that assesses insurers’ credit and ability to fulfill financial obligations. They rate Baltimore Life Insurance B++.

This rating indicates a “good” ability to meet financial obligations, but most insurance companies have at least an A- rating or above.

2

NAIC Rating

The National Association of Insurance Commissioners (NAIC) records complaints against life insurers on their yearly complaint index to protect consumers. Their rating scale ranges from 10 to 1. 1 is the average customer complaint rating; companies should aim to be rated below 1.

The NAIC rating for Baltimore Life Insurance is 2.36, over double the average number of complaints. Baltimore Life’s complaint index rating has risen each of the past three years.

3

BBB Rating

The Better Business Bureau (BBB) evaluates businesses’ trustworthiness by tracking customer complaints and provides resolution services for customers and businesses. They rate companies from A+ to F based on complaints and resolutions.

The BBB rates Baltimore Life Insurance A+, but they aren’t BBB-accredited, indicating a solid but not exceptional ability to resolve customer issues. However, a limited number of customer reviews rate Baltimore Life 1 out of 5.

Baltimore Life Insurance Reviews: Customer Feedback

Smiling confident middle-aged caucasian woman with dark brown hair looking at the camera

Judy S

Stowe, VT

1/5

This company doesn’t like to pay out. It takes 30 business days to receive my money then it’s another 3-4 days before it’ll show up in my bank account. I’m curious to see if it will, don’t have any faith in this company and I would steer clear if I was you. This was a 7 yr annuity. Wish I had never heard of this company and am glad they don’t do business in VT. I’m sure the state wouldn’t allow them to.
happy older woman sitting outside

Carla R

Greenbelt, MD

1/5

My mother passed away in early December. I notified Baltimore Life and there was no compassion. My mother didn’t have a lot but she took good care of her affairs and I wanted to continue to do that on her behalf. There was no compassion and as of the date of this review, the family is still awaiting the claim. Every time they are called, you get a different response. It took two weeks for them to mail out the application to even file a claim in the first place. In this day of technology, one would think that at least the process would not be so painful.
Smiling african young student man looking at camera outdoors

Martin G

Pikesville, MD

2/5

My grandmother was a woman who always took care of her business and paid her premiums on time. She’s dealt with Baltimore Life for years and would be very disappointed at how her family if being treated now that we really need them. I’ve made 3 calls, my uncle made 1. We keep getting promises that someone will call us back. Unimpressed…

Our Review and Final Thoughts

The Baltimore Life Insurance Company offers an interesting mixture of traditional life insurance and financial services. However, their financial ratings are shakier than our top-rated insurers. Baltimore Life Insurance customer service is also a concern, with higher-than-average customer complaints and poor customer satisfaction ratings.

Baltimore Life Insurance’s policies, while interesting and fairly customizable, aren’t exceptional. Rates range from average to higher than average, and death benefits have pretty tight ranges.

chesapeake-bay-during-sunset-traveling-under-the-b-2024-11-27-10-44-33-utc

Strict underwriting disqualifies many applicants from their best coverage, leaving you locked into a pricier policy if you have a preexisting health concern. 

Based on their financial ratings, customer complaints, and monthly rates, Baltimore Life is far from the worst option on the market, but isn’t among the best either. If you’d like assistance finding trusted and affordable final expense insurance, Final Expense Benefits has you covered. 

Call one of our talented agents today at (866) 786-0725 for an affordable quote from our highly-rated insurance carriers.

FAQ

Where is Baltimore Life Insurance located?

The Baltimore Life Insurance Company has been located in the Baltimore, MD, area since its founding in 1882. They are currently headquartered in Owings Mills, MD, a suburb of Baltimore.

Does Baltimore Life provide final expense insurance?

Baltimore Life offers one final expense policy, Silver Guard Senior Life. It’s about industry standard in rates and coverage.

Is final expense insurance worth getting?

Final expense insurance is a great way to cover rising funeral and end-of-life costs ahead of time. It’s an important way to support your family and dependents after you pass and is specifically designed to be accessible to seniors with health concerns or fixed incomes.