Before you buy any life insurance policy from insurance companies, it is always advisable to do some research about the insurer. That way, you will be able to know their financial strength ratings and get the best quotes. Without further ado, here are some things you need to know about life insurance company ratings.
Find out who the players are
As at today, there are about ten reputable companies that rate insurance companies. The most popular ones are Moody’s, Fitch, Standard & Poor’s, and A.M. Best. Even though these agencies have different criteria for evaluating insurance companies, they will help you know the financial strengths of your insurer.
Have in mind that information from life insurance rating agencies are very reliable
The truth is that no insurance companies will tell you the truth about the drawbacks of their insurance policies. That’s why you should not trust them completely. So, we advise you to trust any information you get from insurance rating agencies more than the one from insurance companies.
Rely on common sense
It is not uncommon to be overwhelmed by too much information from different life insurance companies. So, we advise you to use your common sense when you are deciding which insurance company to buy your life insurance policy from. Remember, do what is best for you, not what is best for your insurance companies.