I’d hate to die and have it turn our my life insurance company had gone bankrupt or welshed out on the payoff to my wife.

 

  • dixon g 9:01 am on March 4, 2010

    You can easily check life insurance quotes in internet, for example here – lifeinsurance.awardspace.info

  • james m 9:01 am on March 4, 2010

    The best way to select an insurance company is to call your state insurance commissioner’s office and request a list of insurance companies with an A.M. Best rating of A++, A+, A, or A-.

    I would not purchase from a company with less than an A-.

    A++ is Superior, the rest of the above ratings are excellent. These ratings are the insurance companies claims-paying abilities.

    The A.M. Best Compay is an independent rater of insurance companies, and has been doing so for over 100 years.

    I recommend purchasing insurance from a LOCAL agent. Have the agent do a free Financial Need Analysis (FNA), or other Total Needs Program, so you can determine, with a little more knowledge, how much, and what type or combination of life insurance you actually need.

    The FNA will also help you determine if you need Disability Income coverage, or an Individual Retirement Account.

    According to statistics, disability is a greater risk than dying, prior to age 65.

    You will NOT get all this information from an online insurance company.

  • Michael M 9:01 am on March 4, 2010

    I would make sure you go with a company with an AM Best rating of A- or better.

    Other than that you can rely on the fact that in the rare instance that a life insurance company goes belly up the states usually take over and make sure the current policyholders are serviced by another company. Usually other companies are happy to take on the orphaned policyholders because they don’t have to pay all the marketing costs and commissions typically associated with new business but they still collect the same premiums.

    The only people that really lose when the insurance company goes out of business are the stock holders or owners.

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