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Started By
Message
Picking a Life Insurance Company
Posted on 1/1/11 at 8:45 pm
Posted on 1/1/11 at 8:45 pm
Looking through Zander.com, there are a number of life insurance companies with lower premiums than "brand names".
How do I assess the likelihood of a company still being around later in the 25-year term to pay out if needed? The real concern would be if I had to reset a term life insurance premium 12 years from now with a new provider.
Is this a legitimate issue? Any tips on how to evaluate?
How do I assess the likelihood of a company still being around later in the 25-year term to pay out if needed? The real concern would be if I had to reset a term life insurance premium 12 years from now with a new provider.
Is this a legitimate issue? Any tips on how to evaluate?
6
Posted on 1/1/11 at 9:12 pm to Bayou Tiger
I think that there is a rating system ... you want an A rated company ... fwiw, we have Protective Life, term insurance.
Posted on 1/1/11 at 10:06 pm to Bayou Tiger
Are you a veteran or every been in any government agencies? There are some really good companies that have good rates if you have.
Posted on 1/1/11 at 10:48 pm to NELAtigers
quote:Neither.
Are you a veteran or every been in any government agencies? There are some really good companies that have good rates if you have.
Posted on 1/2/11 at 7:47 am to Bayou Tiger
I have sold insurance for 15 years. I like to use companies that have been around for at least 50 years and carries a rating of A+ from AM Best rating agency.
Posted on 1/2/11 at 1:33 pm to Ringeaux
quote:
I have sold insurance for 15 years. I like to use companies that pay me the highest comissions and offer the best annual trips to Hawaii and British Columbia.
Fixed it for you.
Posted on 1/3/11 at 8:01 pm to Lsupimp
quote:
Fixed it for you.
You would be surprised how many people actually do better selling people what they need and not what they make the most money on. I've had the same agent for 30 years.
Posted on 1/4/11 at 11:43 am to Ringeaux
quote:This
carries a rating of A+ from AM Best rating agency.
Posted on 1/4/11 at 11:47 am to La Place Mike
New York Life or Northwestern Mutual IMO.
/thread.
/thread.
Posted on 1/5/11 at 2:48 am to Bayou Tiger
Your concerns are totally valid and thats why insurance seekers are advised to thoroughly research the background of the company they plan to buy their life insurance plan from.
There are certain Dos and Don'ts of selecting a life insurance company. First, you must evaluate its financial standing or solidity because like you said, the company should be around years later to honor its claims.
You should also consider the rating of a company as well as the market ethics it practices. Another check you can run is to see whether there are any complaints pending against it. The national claims database is a good place to find any complaint information regarding a company.
I would recommend that you find Life Insurance Quotes on an online agency like Accuquote.com because it would also provide you valuable information regarding the financial standing and ratings of the companies quoted.
Denise
There are certain Dos and Don'ts of selecting a life insurance company. First, you must evaluate its financial standing or solidity because like you said, the company should be around years later to honor its claims.
You should also consider the rating of a company as well as the market ethics it practices. Another check you can run is to see whether there are any complaints pending against it. The national claims database is a good place to find any complaint information regarding a company.
I would recommend that you find Life Insurance Quotes on an online agency like Accuquote.com because it would also provide you valuable information regarding the financial standing and ratings of the companies quoted.
Denise
Posted on 1/5/11 at 6:23 am to DeniseM
quote:
DeniseM
Florida State Fan
US
Member since Dec 2009
14 posts
quote:
I would recommend that you find Life Insurance Quotes on an online agency like Accuquote.com because it would also provide you valuable information regarding the financial standing and ratings of the companies quoted.
Denise
quote:
Denise at AccuQuote
This post was edited on 1/5/11 at 6:25 am
Posted on 1/5/11 at 10:22 am to DeniseM
ditch the zero and get with a hero
pierre at accuquote com
pierre at accuquote com
Posted on 1/9/11 at 3:37 pm to Bayou Tiger
You can look on the AM Best report. They have all the insurance companies rated. Don't buy online. You need an agent to discuss lots of things with you. Life insurance is probably the most important insurance you'll ever buy. Buy some good stuff. My entire family uses Modern Woodmen of America and we are very happy with the premium amount and our agent.
Posted on 1/14/11 at 7:17 am to Bayou Tiger
(no message)
This post was edited on 1/14/11 at 7:37 am
Posted on 1/15/11 at 8:47 am to DeniseM
I went thru matrix direct and have mine thru american general.
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