Established in 1858 under the name Maryland Mutual Life and Fire Insurance Company, Monumental Life Company boasts an extensive and illustrious past. Located in Baltimore, Maryland, the organization rapidly gained traction and favor within the immediate vicinity. After rebranding as the Mutual Life Insurance Company of Baltimore in 1860 and Monumental Life Investors Insurance Company in 1935, the organization underwent two more name changes. The new moniker was inspired by the city's adjournment as the "Monumental City." That is why it was named after it, but then again, it was changed to a new name, Transamerica.

Now offering a wide range of financial and National Life Monument insurance solutions to American consumers, Monumental Life Insurance Company is a subsidiary of Aegon. Its reputation for economic stability and outstanding customer service is outstanding. Read the article to learn about the insurance and rider plans.

Available Offers For Riders

Adding riders to life National Life Monument insurance plans allows them to be tailored to certain situations. Rider-wise, Transamerica provides the following:

• Immediate death benefit: In a qualifying chronic or terminal illness, the accelerated death benefit rider permits using the death benefit fund while the policyholder is still alive.
• Accidental death: Your successors will receive an additional amount from the unintentional death clause if your demise is deemed accidental by specific criteria.
• Childrens benefit: A children's benefit clause will provide financial compensation to your dependents in the event of your demise before they reach adulthood.
• Disability waiver: The premium payment can be terminated if the premium rider becomes wholly disabled and unable to work.

Life Insurance Services Offered By Monumental

Term Life Insurance

From $25,000 to $10 million, Monumental has term life insurance policies available for 10, 15, 20, 25, and 30 years. They could even provide more extensive policies tailored to your needs. Although a medical exam is often required for most National Life Monument insurance, certain people may be accepted with simply medical questions if they are under a specific age and coverage level.

After the first term ends, TrendSetter Super from Monumental Life Investors Insurance Company may become a permanent policy. Its innovative LB policy, which provides coverage of up to $2 million, offers living benefits, such as an accelerated death benefit in the event of a chronic, severe, or fatal disease.

Whole Life Insurance

The minimum face amount of Monumental's three whole life insurance policies is $1,000. Any of the three kinds of insurance may cover children. Presently available insurance policies include "Life Paid Up at Age 65" and "Life Paid Up at Age 95." They all provide lifetime protection; the only difference is the time you have to pay premiums.

Only up to the age of fifty-five may the insurance be issued if paid in full. An alternative full-life option is the "Limited Pay Life" option, available to everyone between 0 and 80, with face values ranging from $1,000 to $25,000. The coverage is offered forever, yet there are times when premiums are needed. Ten, fifteen, or even twenty years is the longest this insurance will pay back.

Index Universal Life Insurance

An individual may opt to index their coverage using index universal life insurance. An increase in interest rates for the S&P 500, EURO STOXX 50, and Hang Seng could potentially result in a cash value augmentation for your insurance policy.

Retirement expenses might be eligible for coverage from the cash value of your Transamerica Financial Foundation IUL (FFIUL) policy. The program provides tax-free cash withdrawals and a minimum interest rate guarantee.

Universal Life Insurance

Monumental People Life Insurance Companys "Interest Sensitive Whole Life Products" offer consumers an alternative to variable and universal life insurance. With interest paymentscurrent or excessany of these programs enable you to increase your money or coverage over time. The degree of protection that the two insurance typeswhich go by various namesoffer is the sole distinction. Whereas the "Dynamic 1" insurance pays up to $24,999, the "DynaMax" protection is offered for face values of $25,000 or more.

Each policy has a minimum guaranteed death benefit, premium, and cash value. Should extra interest crediting cause the cash value to grow more quickly, the death benefit may also rise. Loans, withdrawals, and a rider that expedites the death benefit in the event of a terminal illness are ways to access the cash values.

Final Expense Life Insurance

Monumental Life Investors Insurance Company offers three no-medical-exam final expenditure life insurance products: Easy Solution, 10-Pay Solution, and Immediate Solution. Age determines whether you qualify for the $50,000 coverage under the 10-Pay Solution or Immediate Solution policies.

The 10-Pay Solution has a 10-year validity period, while the Immediate Solution requires full payment at age 121. Depending on the insured's manner of death, the graded death benefit of the Easy Solution policy may reach $25,000.

Costs of Insurance

For a thirty-year-old woman in excellent health who abstains from smoking and maintains no smoking habit, Transamerica estimated a term life insurance policy for $300,000. The policy would offer protection for ten years.

The estimation calculated was $11.87 monthly or $138 annually. Also, remember that whole life and universal policies are more costly than term policies, even though term life is the most affordable option. The National Life Monument insurance rate will increase if you add riders to it.

Furthermore, it is important to mention that this People Life Insurance Company will use biological information from birth to determine policy prices. Many life insurance firms' application and underwriting procedures, including Transamerica, still do not reflect that policyholders identifying as nonbinary or transgender may be eligible for coverage.

Cancellation Policy

Transamerica-issued policies can be terminated at any time and for any reason. Regrettably, the ability to rescind National Life Monument insurance policies online is not available. You can contact a representative via telephone to commence the cancellation procedure.

Also, Transamerica extends the provision of a complimentary 10-day trial. If you elect to terminate your coverage within the first ten days of its acquisition, you will receive a complete reimbursement in seven days.

The Bottom Line

Monumental Life Investors Insurance Company is financially solid and has great ratings. The dependable regular insurance policies have a variety of issue amounts. Though the innovative interest-sensitive whole-life plan resembles universal coverage, neither variable nor universal insurance options are offered.