Monday, 13 February 2006
Choose Strong Companies for a Lasting Life Insurance Policy
Your life insurance company might not be as strong as you think, reports the Pittsburg Post-Gazette.
Many life insurance companies are also in the property and casualty business, and they’ve been paying out billions of dollars to cover claims from natural disasters that have been cropping up in the last few years.
In fact, some life insurance companies have gone under as a result.
To make sure you’re investing your savings with an insurer that will be around for the long haul, check with one of several companies that routinely test and rates life insurers.
Companies like A.M. Best, Standard & Poor’s, Moody’s and Fitch tracks life insurers, and out of those evaluated, typically only 5% or less receive the top ratings.
The trade off with choosing the most financially sound companies? It may be more of a toll on your wallet.
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