Comments on: How should I pick a company to buy life insurance from?

By: Rob D

Rob D — Sat, 28 Nov 2009 22:03:12 +0000

The specific company is not important. See an independent agent who can offer several options from several companies. Discuss what you want the coverage to do for you and how it can fit into an overall financial strategy.

The agent will probably only show you the stronger companies anyway, but I’d suggest no company with less than an AM Best A+ rating.

By: yoke

yoke — Sat, 28 Nov 2009 22:03:12 +0000

It depend what type of insurance you would like to buy, If you want to buy Term life only, you can buy from any where, don’t buy VUL insurance, will cost you more later on, If Whole life that you looking for, than you buy from mutual company, not from stock company, mutual company like Massmutual, New yoke life, north west mutual, this big three are good enough to you, holp that help you.

By: Maggy G

Maggy G — Sat, 28 Nov 2009 22:03:12 +0000

Comparison-shop at the below website

By: spool32

spool32 — Sat, 28 Nov 2009 22:03:12 +0000

Dont do the comparison shop website, all kinds of losers will be pestering you for the next two months.

Talk to 4 companies on an individual basis.

Never talk to Primerica

If you have any health problems be upfront in the beginning, it can save you a lot of problems.

Also check JD Power or Consumer Reports for customer service and claims ratings as well as the ambest financial strength standings.

I like the following companies for life:

New York Life
MetLife
Prudential

If you are nonstandard theres going to be some other options that you need to look at

By: mbrcatz17

mbrcatz17 — Sat, 28 Nov 2009 22:03:12 +0000

Don’t. Sit down, and write up a list of what you want your life insurance to accomplish. Bring the list to an independent agent, ask them to get you 4-5 quotes, from A RATED CARRIERS. Any company that’s A rated, is financially solid.

Sit down with the agent, and compare and contrast the COVERAGES, so you know the plusses and minuses of each policy. Then pick the one that meets the most needs on your list, which you already wrote out.

By: bernard

bernard — Sat, 28 Nov 2009 22:03:12 +0000

I suggest you do talk to Primerica. Check any viable rating service and Primerica is A+. Primerica is one of two companies that paid out life policies During 9/11. Also Primerica will educate you on insurance, set up a FREE detailed financial plan and educate you on planning for retirement and on your mortgage. If you sit down 30 minutes with a Primerica agent, you will see why Primerica is disliked by its competitors. All term insurance is not the same. Even if you don’t go with primerica, make sure you ask your agent (1) How does the policy pay out? (2) Is it garuanteed renewable? (Primerica is) (3) Will the policy payout if I die within two years? (4) and will I have to convert the policy into a whole life policy. As an agent, these are the main things that are not explained to my clients by their old agent. Which is why they switch to us. Remember, buy term and invest the difference!

By: Sad Soul

Sad Soul — Sat, 28 Nov 2009 22:03:12 +0000

The ones that don’t screw people over, which is majority of them. Choose the ones that are actually going to sit down with you and help you improve your finances for free such as showing you how to get out of debt, how to save money for retirement, and explaining to you why you need income protection and explain the difference between cash value vs term.

By: Byron Udell

Byron Udell — Sat, 28 Nov 2009 22:03:12 +0000

There are a number of ways in which to evaluate a company. First, you should consider the financial strength, performance, and integrity of a life insurance company. You should only consider those that have a rating of A, A+, or A++ by A. M. Best. Why? Because you want to make sure that the company will be around to pay out the claim.

If you’re realitively healthy, then you should be fine and it will be easy to find the lowest rate among companies. However, let’s say you have a little health condition. Not all carriers treat different health conditions the same. So one may give you a more favorable rate over another. In a case like this, I’d recommend shopping around. There are several online quoting firms out there that can help you find the best product for the money. I hope that helps.

By: michael76049

michael76049 — Sat, 28 Nov 2009 22:03:12 +0000

all due respect to rob, the specific company is ALL that matters. when it comes time to pay off the policy, the independent agent doesnt pay you … the insurance company pays you. frankly, i wouldnt even look at anything BELOW an A+ unless i had significant health problems.

i do agree with purchasing your insurance through a mutual company. generally, the clients are the owners of the company and not stockholders. as the company flourishes, you reap the monetary benefits of it.

primerica has also been mentioned. i hate to criticize other companies, but primerica is the exception to my rule. they have some of the poorest trained people in the industry. they dont understand much at all about life insurance. the big problem here is since they dont understand it, they carry the crappiest product which is ok since they cant explain it to you as a consumer. i agree, RUN away from primerica. (p.s. bernard is on drugs that only his beloved primerica and one other company paid out claims from 9/11. this is exactly the kinda bumper sticker sales slogans they use cause they dont understand how to educate people on their products. in fact probably evey single major insurance carrier paid claims from that day. to say otherwise is preposterous.

note: this is the value of having a personal insurance agent and a stellar company. if you have a company that is even A+ or especially below, they may try to wiggle out of paying a policy if the situation gives them simply a bit of wiggle room. an A++ wont. i am not recommending NY Life (but they were recommended by others), but they paid policies on 9/12 without proof of death. all that a person needed was to show the person assumed dead was on duty that day and was now missing. they paid. then (i know this for a fact), they took their entire advertising budget (their most discretionary spending) and donated it all to a NY relief fund for emergency responders).

NY Life is a great company. there are other great companies out there (NW Mutual, Mass Mutual, Guardian, etc.). its just that primerica aint one of em.

By: efrenchtoyasia1

efrenchtoyasia1 — Sat, 28 Nov 2009 22:03:12 +0000

you have to compare