Maryland Life Insurance

Last Updated on September 17, 2020 by Andrew Lee

Find the Best Life Insurance

Compare Term & Whole Life Insurance Options:

A type of long-term investment, life insurance protects your family from potentially devastating financial losses after you’re gone. With your policy’s death benefit, they don’t have to think about where they can get the money to pay for burial and funeral expenses. They also have to worry less about their living expenses, college tuition fees, bills, loans, and other expenditures.

For your loved ones to receive the payout though, you need to make certain you keep paying your premiums. And one of the must-dos before shopping around for a policy is to have some idea on what kind of premiums you’re looking at. The tables below will help you come up with an estimate of your insurance costs as a resident of Annapolis, Maryland.

Estimated Monthly Premiums
Annapolis, MD 21401
Policy: $200K
Duration: 30 Years

Age & Gender Smokers  Non-Smokers
 30 Yr Old Male  $55.65 – $91.53 $19.17 – $45.45
45 Yr Old Male $167.65 – $230.87 $39.36 – $125.94
 30 Yr Old Female $40.42 – $72.88 $16.35 – $35.34
 45 Yr Old Female $117.34 – $176.49 $30.89 – $82.53


Most of the time, women pay a lot less than males of the same age, health condition, and lifestyle (specifically if they smoke or don’t). Life expectancy has a lot to do with this, seeing as statistics show that females generally live longer. They also take fewer risks than men, even at a young age.

The greater amount of death benefit for a shorter term

If you want a $500,000 value policy with a 20-year term, your premiums will play around the following amounts:

Estimated Monthly Premiums
Annapolis, MD 21401
Policy: $500K
Duration: 20 Years

Age & Gender Smokers  Non-Smokers
 30 Yr Old Male  $72.62 – $133 $20.36 – $58.05
45 Yr Old Male $213.94 – $430.30 $50.06 – $138.95
 30 Yr Old Female $59.50 – $115.40 $17.93 – $44.90
 45 Yr Old Female $154.32 – $296 $39.48 – $116.10


You’ll already notice from both tables that smoking drastically increases premiums. This is because of the simple fact that this act severely reduces life expectancy. And smoking isn’t the only unhealthy habit that insurers take into serious consideration. Those who use other tobacco products, such as gums and patches, and even electronic cigarettes, can expect to pay more towards their coverage.

More life insurance help

The premium projections given above are for a term life insurance policy. This type of coverage costs the least, so you might find it best suited for your needs. For state-specific questions, you can also seek the guidance of the Maryland Insurance Administration.