If you are looking for the
lowest life insurance rates, this actually may not be your best deal. Being
able to pay those low rates sure sounds great but is it giving you the best
life insurance for your money? Below are some things you should look at when
considering your life insurance company.
After receiving some quotes
from different companies narrow down your choices. Pick your top three choices
and go online to do some research.
A good place to start is checking
their credit rating. You can go to AM Best or Standard and Poor’s for this.
While at either of these websites dig around for any other information you may
find there, A rating or higher is what you want. See if the companies you are
checking have and excess amount of claims or if there are complaints files about
failure to pay death benefits in a reasonable amount of time.
If you do see complaints filed it
may not be much to worry about. When you consider that an insurance company
might have millions of policies, a thousand or so complaints is really very
little. Look for the company’s failure to address complaints or taking too long
to address them.
If the insurance company you’re
interested in has low rates, at least an A rating and very little complaints
with your state you should be ok.
One last consideration is how
fast you or your family is able to receive the benefits after filing a claim.
You do not want to deal with a company that continually delays paying out the
benefits.