It can be very confusing to try to figure out what type of life insurance policy to buy, what amount, and from what company. As a rule, life insurance policies only come in a few types (Term, Whole, Universal and variations such as Indexed or Variable). Many companies carry all of them. However, some policies do have features that are more favorable than others. E.g. longer guarantee periods, greater cash value, etc. In that respect, some companies carry policies with better features than others.
It is always a good idea to look at the rating of the life insurance company itself. If its rating with AM Best, Fitch, S&P and/or Moody's is good, most likely the life insurance carried by that company will have good products to choose from. And you will know that they will pay out if needed, which is of utmost consideration.
Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
Which company has the best depends on what your life insurance needs are. I do advise doing research on the strength and financial out look of a life insurance company. AM Best is a great place to start. http://www.ambest.com/ As for rates find an independent agent who can look at multiple life insurance providers that can offer you the best options at an affordable cost to meet your needs. I always recommend face to face consultation when it comes to life insurance.
Insurance Advisor, Lordship Insurance Services, California
The word "best" is so subjective. Best what? Best rates? Best underwriting? Best customer service? Best claims payment history?
When you look at Insurance, compare it to purchasing an automobile. You have Mercedes, BMW, Toyota, Ford, Chrysler, Volvo. Which car is best? Thats hard to say. Each of these makers produce cars that will start and take you to your destination. They can come with a lot of the things that make our car ride enjoyable.
But what do you want? Comfort? Style? Good gas mileage? Ability to be driven for years? High mileage capability? It all depends on what you want and what you are willing to pay to get it.
Insurance is the same way. Talk to an agent and clearly define what you want. Then look for companies that offer that product. Then you can compare prices, look into how they handle claims, customer service, etc.
Finally, realize that most Insurance companies (due to heavy regulations) have to meet certain standards to remain an Insurance company. That being said you can usually find a good fit for your circumstances if you do your research.
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
There's no one company that offers the "best" term life insurance. The carrier that's going to offer the best rates for you may not be the carrier the offers the best rates for someone else.
This is because people may qualify for different risk classes, they may be looking to secure a different amount of coverage, keep the coverage for a different length of time (term vs. permanent), or may live in a different state (not every product from every carrier is available in every state). All of these factors go into the calculation of rates.
You should consult with an experienced life insurance broker who can shop the case for you and compare multiple companies to see who will offer you the lowest rates for what program you're looking to set up.
Please feel free to contact me for help. Thanks very much.
There are many different types of life insurance policies, and each life insurance company offers the type of coverage that best fits their goals, operations, finances, and customers. E.g. North American Company for Life and Health offers many competitive annuities and IUL products, whereas Fidelity Life specializes in No Exam policies. Some have a medical staff that makes them more suited for persons with serious health conditions, whereas others reject most health conditions and optimize their coverage for those with preferred health.
That is why it is helpful to use an agency where you can shop from many different companies, or better yet, let that agency do it for you. After all the years it has taken me to learn what is best for different situations, I don't see how anyone can do it on their own. However, websites and online quote engines can give you a start so that you can go into the shopping experience with some ideas of what you might need and want.
The best life insurance company is the one that has the exact product at the very best price that meets your unique situation. Think of insurance companies as a deck of cards. There are 52 cards in the deck. But with those same 52 cards it is possible to play 1,000s of games just by simply changing the rules of a game. Finding a life policy is the same way. If you don't know all of the rules to your game you will probably lose. I recommend finding an experienced independent broker who knows the rules and you know you can trust.
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It is always a good idea to look at the rating of the life insurance company itself. If its rating with AM Best, Fitch, S&P and/or Moody's is good, most likely the life insurance carried by that company will have good products to choose from. And you will know that they will pay out if needed, which is of utmost consideration.
When you look at Insurance, compare it to purchasing an automobile. You have Mercedes, BMW, Toyota, Ford, Chrysler, Volvo. Which car is best? Thats hard to say. Each of these makers produce cars that will start and take you to your destination. They can come with a lot of the things that make our car ride enjoyable.
But what do you want? Comfort? Style? Good gas mileage? Ability to be driven for years? High mileage capability? It all depends on what you want and what you are willing to pay to get it.
Insurance is the same way. Talk to an agent and clearly define what you want. Then look for companies that offer that product. Then you can compare prices, look into how they handle claims, customer service, etc.
Finally, realize that most Insurance companies (due to heavy regulations) have to meet certain standards to remain an Insurance company. That being said you can usually find a good fit for your circumstances if you do your research.
This is because people may qualify for different risk classes, they may be looking to secure a different amount of coverage, keep the coverage for a different length of time (term vs. permanent), or may live in a different state (not every product from every carrier is available in every state). All of these factors go into the calculation of rates.
You should consult with an experienced life insurance broker who can shop the case for you and compare multiple companies to see who will offer you the lowest rates for what program you're looking to set up.
Please feel free to contact me for help. Thanks very much.
That is why it is helpful to use an agency where you can shop from many different companies, or better yet, let that agency do it for you. After all the years it has taken me to learn what is best for different situations, I don't see how anyone can do it on their own. However, websites and online quote engines can give you a start so that you can go into the shopping experience with some ideas of what you might need and want.