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Monumental Health Insurance Company

Monumental Life Insurance Company was founded in 1858 with headquarters in Baltimore, MD. Monumental specializes in easily manageable and affordable life insurance policies. The company’s primary customer base comes from middle and low-income families across the United States. Monument is licensed in all 50 states and the District of Columbia, except for New York. As of the end of 2010, Monumental Life had more than $88 billion worth of insurance policies in effect.

Monumental products traditionally include individual term life insurance, policies covering funeral expenses and savings programs for retirement.

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Administrative offices in Maryland are located at:
2 East Chase St
Baltimore, Maryland 21202
410-685-2900

In 1997, Monumental Life acquired the Providian Agency Group, a company several times its own size, based in Louisville, Kentucky. A decade later Monumental merged with Peoples Benefit Life Insurance Company vastly expanding its range of coverage and product offerings. In 2009, the Dutch company Aegon, NV acquired Providian and its partners. Today, the Aegon, USA Inc. family includes:

  • Monumental
  • Transamerica and Western Reserve life insurance companies
  • Stonebridge Life and Casualty Group

Monumental Life Insurance Products

Life insurance products include term and whole life programs, and a special interest accumulation product. Monumental provides several flexible options for its term life programs, depending on whether the policyholder desires to maintain level premiums or the cash value of each individual policy. Whole life programs provide the greatest security and guarantees.

Why Life Insurance?

Especially in difficult economic times, it can be difficult for consumers to justify the monthly expense for life insurance premiums. However, most would agree that life insurance policies are established to provide benefits to those who are living.

For example, the proceeds from a typical term life insurance policy can be used to pay all or part of:

  • Home mortgages
  • Funeral and burial expenses
  • Outstanding personal or business loans

Proceeds can also serve as income replacement or for educational expenses for dependent children.

The best times to think about acquiring life insurance are when your circumstances change through natural or extraordinary occurrences such as:

  • When you get married or become a parent
  • When you separate, move to a new home, or get divorced
  • When you change jobs or retire
  • When you become a grandparent or lose a loved one

Additional Monumental Life products fall into the following main categories:

  • Annuity programs underwritten by the Transamerica division
  • Health and accident insurance
  • Mortgage protection plans available for 15-year and 30-year terms
  • Hospitalization and term care

Cancer policies help consumers deal with and manage the often large expenses associated with cancer treatment. Monumental offers two distinct programs. The first is a cancer expense program, which covers specific medical expenses. The second, a cancer check program, provides the policyholder with large cash payments, allowing the recipients to cover additional expenses as the need arises. The amount of these benefits can be between $5,000 and $50,000 and may vary state by state.

Structured settlement programs are no longer offered by Aegon, but current payees may obtain service assistance by viewing listings at www.aegonstructuredsettlements.com

The policyholder webpage, www.monlife.com/default.htm, provides specific contact information for each type of insurance program.

Monumental Careers

Monumental Life is always looking for experienced and talented professionals to fill positions as agents, managers, and sales associates. Application forms and additional information can be found at: www.monlife.com/ml/employmentall.asp

Monumental Ratings

A.M. Best rates Monumental Life at Superior, A+. Fitch gives Monumental an AA- rating, financially stable, as does Standard and Poor’s, while Moody’s rates Monumental as A1.

Monumental Life Customer Service

Monumental Life’s slogan is “The Quality Life Company,” and Monumental is committed to improving the quality of life of its customers and their families. The customer service page of their website, www.monlife.com/ml/customerservice.asp, provides Monumental customers with a wealth of information, which includes FAQs, office locators, calculators, financial tools, detailed information on Monumental products and on-line bill pay. There is also a national toll free number, 800-638-3080.

Community Service

In the Baltimore area, Monumental is involved with many community service agencies and organizations. Monumental contributes generously each year and provides scholarship funds to deserving youths in the community. Monumental employees give of their time, energies, and expertise by volunteering for a wide variety of community groups.

Today, the Monumental Life home office is located at the following address in Cedar Rapids, Iowa:

Monumental Life Insurance Company
4333 Edgewood Road NE
Cedar Rapids, Iowa 52499

800-638-3080

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