The financial stability of a life insurance company is very important. When shopping for term life coverage, don’t just look at the lowest cost premium from an insurance company you recognize. Make sure you look at the ratings by A.M. Best, Moody’s and other rating agencies. Consider the Comdex ranking also. The Comdex ranking is a composite of all the ratings that a company has received relative to all other insurance companies. The Comdex ranks companies on a scale of 1 to 100.
When purchasing life insurance, it is important to determine what is important to you. In today’s fast-paced world, we place a high value on time management and efficiency. If we have a choice of shopping online for a gift or visiting several brick and mortar stores, we quickly see the benefit of the Internet. However, when shopping for life insurance, getting things done as quickly as possible isn’t always the best policy.
One of the popular mega-sites offering life insurance received the following review from U.S.
The term “laddering” is commonly used with reference to financial products such as CDs, but it can also be used with life insurance. Simply put, laddering is a strategy employed to have more than one financial product “expire” or mature at different dates to benefit the owner. With respect to CDs, this concept protects against reinvesting a large amount of money in a poor financial climate. This concept has been applied to life insurance since the need for life insurance tends to diminish over time as debts are paid off and assets grow in value.