Life Insurance Company Ratings allow the consumer to make a better decision when purchasing life insurance.
It is virtually impossible for the average person to obtain the information to evaluate the financial strength of every insurance company. Having an independent source to evaluate this information and pass it along to the consumer is what Life Insurance Company Ratings are all about. Use the information provided to make an educated decision that is best for you and your family.
It’s not good enough to just look at the premium price. The rating of a life insurance company is important to factor in as well. Choose a balance that fits both your comfort level and wallet. The best ratings, according to A.M. Best, are “A++, with a “stable outlook.”
When you choose a top rated insurance company, you are buying a policy from a solid company. It is important to note that A.M. Best is not the only rating institution in the insurance industry. Three other top sources are Standard & Poor, Moody, and Fitch.
Each of the four top rating institutions has a slightly different grading, or rating system. So, it is important to compare “apples to apples.” Know the levels of ratings from top, or strongest, to bottom, or weakest, for each.
More information about Life Insurance Company Ratings can be found here.