What To Look For When Shopping For Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    When shopping for life insurance, you want to look for the rating of the insurance carrier to make sure it is a solid company. You want to look at the guarantees of the policy, to make sure the premium does not go up for that time that you desire. You want to look at the agency you buy it from, to make sure it gets placed correctly and that they will be able to service your policy in the future.
    Answered on June 24, 2013
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  2. 947 POINTS
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    Jose S Sanchez JrPRO
    President, The Insurance Advisor, Burr Ridge, IL
    Shopping for life insurance is about as exciting as shopping for a new dentist but there are something's that you should consider. The company’s rating is a factor but not a huge one. If you asked 10 insurance agents to name 3 life insurance companies that weren’t an “A” rating that went out of business in the last 20 to 30 years, they probably wouldn’t be able to give you an answer. That being said I would still try and look at companies with a B or better rating. The biggest thing to consider is what stage of life you’re in (for more information read our blog "Did I buy the wrong type of life insurance"), because that will help you determine if you should be looking at companies with great term life rates or if you should be looking for one that sell whole life or index universal life.
    Answered on March 16, 2015
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