life insurance companies rating - 4 September 2013 - insurance

term life insurance company ratings

Life Insurance Company Ratings

T here are as many companies offering insurance as there are cities in the world. With so many choices and so many different policies and services to choose from, it’s important to know where your company ranks in comparison to the others.

Life insurance company ratings help first-time buyers and those already with policies find companies that can offer them the services and policies they need with benefits and additional services at inexpensive and affordable premiums.

There are many sites that have rated and list the top insurance companies, doing most of the work for you and narrowing down the field of companies.

Life Insurance Ratings

Rating lists help potential clients find the right company for them by sorting out what companies can offer what services at the price you need to pay. Every company can offer the same services, but at different prices, or certain additional benefits come with a certain plan. Some companies even have special services for their clients only. A rating list takes everything into account, all benefits and prices and gives you an ordered and easily readable list to make the choice yourself. Life insurance company ratings keep the market competitive for consumers, helping you even more when shopping for affordable insurance.

You can see this when you  a run a quote on our free life insurance tool .   Certain company will give you a very good rate.   While others will be 10-30% higher.  That why it so important to shop around!

But it’s not just about what perks you get for signing up and buying insurance from a company. Every insurance business has different price ranges, and will charge differently for the same plan. What services are available for your plan and premium rates changes from company to company as well one day you may need to change your policy from term life insurance to universal life insurance, but your insurance company may not allow you to change it until the current period for your term insurance is expired. Making sure you have the right services available is just as important as getting good rates for your premiums.

Life Insurance Company Rating Agencies

Each life insurance company must get rated by a rating agency.  Think of it as a report card grade.   Would you want to buy your life insurance company from someone that has a C rating.  Probably not considering there are many that have an A rating.

A.M. Best

The most common rating agencies are A.M. Best, Moody, SP, Fitch, with A.M. Best probably being the most recognized .  With A.M. Best youll want to find an insurance company that has at least a A- rating which would classify it as Excellent.  If youre not sure how the insurance company rates, you can use their search tool here .

What About Customer Service?

term life insurance company ratings