Profitable Growth

Baltimore Life’s profitable growth is fueled by our commitment to meeting the needs of the underserved middle market. In 2010, this commitment resulted in our growth in a number of key areas:

• Our operating income grew from $6.6 million to $8.5 million.


• We completed a stock purchase agreement to acquire Philadelphia–United Life Insurance Company of Bala Cynwyd, Pa. With this acquisition, Baltimore Life now services more than 350,000 policies and controls total assets of more than $900 million.


• We were named to the 2010 Ward’s 50 list of top-performing life-health insurers in the United States for the second consecutive year. The Ward Group’s analysis recognized Baltimore Life for outstanding financial results in the areas of safety, consistency and performance over a five-year period.

New Product Development

A key element of our growth in 2010 was the development of new products that serve the needs of our market and help our clients reach their financial goals.

• We continued to expand our reach into the wealth transfer market with the introduction of Generation Legacy™. This innovative product combines life insurance and annuity elements into one transaction. Clients can purchase Generation Legacy with transfers from either a non-qualified deferred annuity or with a rollover or direct transfer from qualified funds. Generation Legacy provides an easy, tax-efficient way to pass a significantly larger gift from these proceeds to heirs.


• Baltimore Life entered the mortgage protection market with Home Secure™ term life insurance. This product provides clients who have purchased or refinanced a home in the past two years with an income tax-free death benefit and optional disability income, return of premium and accelerated death benefit riders. Home Secure policies are enrolled using INSpeed^®, our electronic application and automated underwriting process that allows instant approvals.


• We also began expanding our workplace offerings. After careful planning, Baltimore Life stands ready to provide simplified issue whole life insurance with term riders and critical illness products to help businesses and employees. Our new Benefit Solutions program offers voluntary benefits for employees through the convenience of payroll deduction.

New Initiatives

We also introduced number of new initiatives that improved profitability, reduced our expenses and affirmed our commitment to be “easy to do business with.”

• We refined our strategy to be the “Carrier of Choice” for America’s best agents who serve the middle market. Executives representing all business units in our company are listening to our agents and customers to ensure that we offer the products and services needed in today’s marketplace. We make the commitment to listen and act so that America’s best agents select Baltimore Life as their primary business partner.


• We introduced a newly designed public website. The site features a new online Learning Center that provides prospects with valuable information about life insurance, disability insurance and retirement planning in a format that allows the visitor to customize the presentation based on their own needs. It also prepares prospects to meet with an agent for a more in-depth discussion about their insurance needs.


• In response to suggestions from agents, Baltimore Life introduced an Agent Services Call Center. This unit allows agents to find answers to all questions during one phone call, helping them focus more on their clients’ needs. Inquiries handled by the Call Center include compensation, pending application status, forms, training, underwriting questions and more.