What are the most reliable life insurance companies?

Hello, welcome to another life insurance episode. This is Chad McMahan with protect with insurance. This one is on what are the most reliable life insurance companies. So there are a few little moving pieces here. First thing is what is reliable, man? And how do we, how do you grade that? How do you determine and that, and of course, life insurance companies, that’s cool going to be companies that handle anything from home life insurance term, life insurance guarantee, teed accidental only.

Mortgage protection,  all of these things and more universal whole life insurance, all of these policies. So the first of all, a great way to determine reliability, how reliable a life insurance company is, is to look at their rating. This is a very important,  fact and figure when it comes to these life insurance companies.

You can be an, a rated anywhere from a plus plus plus all the way down to C  or even below I’ve, I’ve never run across one. That’s below that.  we only work with the, a rated company. So if they’re a minus or better, those are, those are the ratings for the companies that we work with. It’s very, very important that you work with a company that’s in the eight rating slot.

So what does a rating really mean? A rating is an indicator of financial solvency.  so if a company is financially solvent, they’re not going to go bankrupt. They’re backed sufficiently by money, whether it’s from private investors, whether it’s from financing, whatever it may be. They’re well established financially that has a lot to do with reliability.

So you want a few things with your life insurance company. You want a company that is going to,  obviously pay. Upon death. That’s the number one concern for most of our clients. Another thing that’s really important is that this company is not going to go bankrupt after you start a policy and then be passed around to other life insurance companies that you didn’t do business with originally.

now that can happen.  there are life insurance companies, particularly the B rated or below companies that there is a higher risk of that happening with, and if a life insurance company does go bankrupt, it can either be passed along to another insurance company. It’s not up to you if that happens or which company it goes to, but it can happen.

it’s very, very rare to see that with companies that have an a minus or above rating. So how reliable life insurance company is the number one factor is going to be its rating. How do you find out what the rating is? That’s the next question we often get from our clients. It’s actually public public information.

You can go right onto your internet. Use Google, use, Yahoo, whoever you use and search for. Let’s. Just pick one as an example, mutual of Omaha, great company. So if you type in, in the search bar there mutual of Omaha life insurance rating. You’re going to see some options that are going to pop up. Now, bear in mind, it’s not reviewed was reviews are totally different and less relevant.

Believe it or not. I mean, now we live in the land of reviews, but ratings are far more important and far more relevant when it comes to how reliable company is bottom line is you can’t make everyone happy and they’re going to be. 1,001 times 1,001 different reasons why people might be happy or unhappy.

It may have nothing to do with how reliable they are. So this financial solvency thing, this is important. So mutual of Omaha, life insurance, if you were to Google that, just as an example, you’re going to see some options pop up and there are these third party companies. Like moody and poor, you know,  am best things like that.

These are companies that they perform these ratings and they provide them for you as, as public information. And these companies are non-biased third party companies, very, very important stuff. And that’s all they do with those companies. So it’s very, very important to look for that rating. So that is it.

I want this to be up to the point, very short and simple video. I hope this has been helpful. Please reach out to us to protect with insurance. If we can help you out with anything else. If you want to see videos on other subjects, other material, email us at hello@protectwithinsurance.com or just give us a call.

We’d love to get to know you.  if we can help you in any way, shape or form, we want to do that for you. Alright. Stay safe out there.


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Chad McMahan

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