There are 4 main organizations that evaluate and then rank the financial ratings of life insurance companies in the United States. Pay close attention to company ratings.
They are as follows: AM Best, Fitch, Moody’s and Standard & Poor’s. AM Best is by far the most common known to the insurance industry that rates financial strength in the life insurance industry today.
Here is a basic breakdown of what their ratings mean to the consumer starting with the two most popular reporting agencies. A.M. Best reporting agency: A++ and A+ (Superior) A and A- (Excellent) B++ and B+ (Good), Standard & Poor’s: AAA (Extremely Strong) AA (Very Strong) A (Strong) BBB (Good).
The best life insurance products have to be backed up by an insurance company with a strong financial foundation.
If you are comparing life insurance plans on our website, always remember that we only offer life insurance carriers that have a minimum AM Best rating of A- (Excellent) or higher. The size of the carrier and the economic times can have a major impact on their current ratings. We never offer a life insurance from a carrier with an unstable future that might have a problem paying claims.
We have a strong responsibility to provide the consumers with the best life insurance products from the highest rated life insurance companies available. The way we look at this is if our client has a problem it also becomes our problem as well. So we put a lot of effort in running a very professional insurance agency and an informative website like BestChoiceLifeInsurance.com.
Take your time and compare the ratings carefully. Financial strength is just as important as who has the most affordable term life insurance rates.
If you have been comparing life insurance financial ratings of the many carriers available, take into consideration that there are a number of smaller carriers that do a great job and are in excellent financial strength. The only difference is they are smaller and have a little lower rating such as A- or even B+ for that matter, but they are still in excellent shape as far as their financial reports go.
The size of a carrier has a lot involved in what rating they receive.It is usually very rare that a life insurance company goes through a period of bad economic times. During the great depression of 1929 some of the most profitable corporations were the life insurance carriers that managed to maintain a high vote of confidence in the economic picture of the United States.
Make sure your life insurance rates are affordable so you can comfortably afford to pay your premiums.
There are quite a few people that purchase life insurance and pay for it for a few years and then let the policy lapse for one reason or another. When this happens, the money paid in with no form of a claim where money is being paid out spell a considerable profit for the insurance company.
Many people will also make the mistake of purchasing a short term person on their life insurance policy and they outlive the policy and again this spells pure profit for the carrier. whether you are planning to purchase term life insurance or universal and whole life type policies, you are going to still want to pay attention to the ratings your potential carrier has.
Our consumer life insurance quote engine will display approximately all of the best term life insurance quotes from over 40 highly rated life insurance companies.
Our quote engine will display the most affordable life insurance quotes online, but one of the prerequisites is the carriers shown have to maintain some of the highest ratings possible. Most of our companies have a A+ rating by the AM Best reporting agency. Life insurance financial ratings can change from time to time but as a rule they are very stable. Life insurance company financial ratings are something to want to pay attention to when looking for cheap life insurance.
Feel free to contact us 7 days a week for more information concerning Term life insurance quotes, insurance company ratings and any other related help you may need. There is no obligation or cost to our service and needless to say, no sales pressure.