Last Updated on April 22, 2021
1. HOW FINANCIALLY SOLID IS THE INSURANCE COMPANY?
Your life insurer must be financially strong because you want the company to cover the death benefit to your beneficiary. You should be covered whether you die in 5 years or 30 years. To know how stable a company is, check out financial strength ratings.
There are many independent rating firms that release grades for insurance companies to help you select the best life insurance company, including Moody’s Investor Services, Fitch Ratings, and A.M. Best. It should be noted that every firm has its own rating system. You can view the ratings online for free, you may need to register though.
