Baltimore Life Insurance Company

The Baltimore Life Insurance Company, founded in 1882, is a mutual life insurance company headquartered in Owings Mills, Maryland. With over 140 years of history, the company serves more than 300,000 policyholders across 49 states and the District of Columbia. As a mutual insurer, Baltimore Life is owned by its policyholders, not shareholders, which allows it to prioritize long-term stability and customer value. The company offers a wide range of financial products including whole life, term life, and universal life insurance, as well as annuities, critical illness coverage, and retirement planning solutions. Known for its conservative financial approach, it holds an A.M. Best rating of B++ (Good) and manages assets exceeding $1.28 billion.

As of late May 2025, Baltimore Life offers highly competitive rates on its IQumulate multi-year guaranteed annuities (MYGAs). Both the 5-year and 7-year MYGA products offer a guaranteed annual yield of 5.75%, inclusive of any applicable interest bonuses. These products require a minimum premium of $5,000 and provide a full penalty-free withdrawal window at the end of their respective guarantee periods. The 5-year MYGA rate was last updated on May 19, 2025, while the 7-year version was updated on May 29, 2025. These annuities are designed to offer a secure, fixed-income option for individuals looking to preserve capital while earning stable returns.