There are so many life insurance companies to choose from. The last time I checked there were about 2000 of them. The majority of them can be considered safe to do business with.
What people want to know is which is the best one to do business with. Of the 2000 life insurance companies which would be best for you?
There are a few things you need to consider when making such a decision. The very large carriers that have been around for over 100 years are more often than not the strongest.
There are some fairly new companies that are also very safe because they are efficiently run. The key is to research them and find out how well managed they are...
Taking on such a job would be very time consuming, it would take a very long period of time to check them all out. There are a few organizations that do this for you but the A. M. Best company is most respected for their thorough and detailed information.
You should first consider no carrier that is rated less than A+ by A. M. Best. Here are a few of the top carriers in this category listed alphabetically:
American Family Insurance
Farmers Insurance Group
Jackson National Life
Lincoln Financial Group
Northwestern Mutual Life
New York Life
U. S. Financial Life
West Coast Life
Now, it is important to understand that although these carriers are likely to have the lowest premium costs you still need to do more sifting.
You need to decide what type of policy you want and how much. Most carriers offer term life insurance as well as 20 year term policy, for example, usually has a level death benefit for the 20 year period as well as a level premium.
Some life insurance carriers, however, start at a lower than normal premium and increase it every 5 years. The premiums sometimes level off after 10 years.
If you are considering a permanent policy like universal life, variable universal life or whole life insurance you should keep in mind that some companies have performance records over the years that are well above average.
All life insurance policies are not the same. Although dividends are not guaranteed some have consistently paid very high dividends over the years. They have never missed a dividend payment.
When we think of affordable life insurance, or affordable anything for that matter, we often, mistakenly, think of a product that would require the least cash outlay.
Many life insurance buyers find the 30 year term insurance policy quite attractive. It fulfills their needs. Who, what kind of buyer, would buy the 30 year term policy.
The 20 year term insurance policy is probably the most loved and most bought term life insurance policy. The reasons for this are pretty obvious. People tend to think 20 years when planning long term.