1. Daniel J. Wendol
    CEO, TRS Wealth Management Inc., Florida
    This is an easy question - the best life insurance provider is...it depends!  This is like asking "who is the best automobile maker?".  It truly depends on the specific life insurance need.

    Each insurance provider has pros and cons.  The key is understanding which provider has the best solution for your specific need.  Using an independent agent/broker will give you access to multiple providers.  Some things to consider are; the financial strength of the provider, the products the provider offers now and potentially in the future, and value of the product compared to the competition.  Be sure to shop around.
    Answered on May 10, 2013
  2. 30 POINTS
    John Daniel, CLU, CFP
    I agree.  The clients' needs dictate which company is right/best for that particular client.  If they want/need whole life, then you will direct them to one of the top mutual companies (Guardian, Mass Mutual, Northwestern Mutual, and New York Life).  Mutual companies pay dividends to their policy owners, since they are the owners of the company.  They have great track records and are highly rated.  If you are looking at Universal Life (UL), then you have a whole universe of products and companies offering those products.  You have Traditional UL, Variable UL, and Indexed UL, the newest of products.  I look at companies/products that will provide a guaranteed death benefit, at least to life expectancy.  I also stick with highly rated companies.  Hope this helps.
    Answered on May 10, 2013
  3. David RacichPRO
    Fountain Hills, Arizona
    There are hundreds of life insurance companies in America. There are six ratings services that perform economic due diligence and assign a numerical or alphabet category of either financial strength or claims paying ability. The rating levels between rating services are often not equivalent. It’s important to secure as many rating services to assist the company selection process. Here are just a few of the rating services that are available that we use to determine financial strength and claims paying ability: S&P, Moody’s, AM Best, Fitch, Comdex and Weise.

    Each life insurance company is required to file their financial statement called the convention blank or blue book. A summary of that financial filing is produced by surveillance services that we monitor. The ideal life insurance company is one with high ratings, strong balance sheet, competitive pricing and consumer centric contractual provisions.  We routinely examine these carriers for consumers to assist them in a quality decision on selecting the right company for them.
    Answered on May 10, 2013
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