What is the right insurance company for life insurance and how do you pick the right agent?
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Asked October 20, 2011
The right insurance company for you is not a question that can be easily answered. Some people have problems with even the best known names in the business, and some people get exceptional service from the companies that have poor customer service reviews. It is more important to shop for a company with a good financial rating than to pick a company based on someone else's opinion.
The best way to choose a life insurance company is to check with financial ratings companies such as A.M. Best, Finch's, or Standard & Poor's. Look for companies with exceptional ratings, typically identified by AAA or A++ ratings. Any company rated A or better is probably sufficient for needs, but the better the rating, the more stable the company is considered to be.
As for choosing the right agent, your friends, family and co-workers may be the best place to look. You need an agent that can make time for you as you need them, and who will offer you a range of life insurance options to help you attain your goals. If you have friends who speak highly of a particular agent, it may be worth your time to talk to that person before you make blind calls to unknown agents.
Be wary of agents who are only looking for a quick sale. It may come as a surprise, but most reliable insurance agents do not try to force a sale on the first meeting. Instead, a good agent will talk to you about your financial situation, your family and what your future financial goals may be. After that, the best agents need time to go over the information they have gathered and put together a set of choices tailored for your unique situation. Life insurance is a long-term financial tool, and not something that should be rushed into or purchased blindly from the lowest bidding company or agent.
Answered October 20, 2011 by Anonymous