Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
"Best" often means, "cheapest." However, "best" really means, "pays the death benefit when the insured dies." No matter what you pay, if you die after the term of the policy, there isn't a death benefit. If you know when you are going to die, then selecting the "best" policy is easy. If you don't then it is difficult.
I would define "best" as getting the most value for the money. That means buying your life insurance from a stable company that will be there to pay out in the end, and purchasing a life product that is competitively priced.
First, for guaranteeing the reliability of the company, look only to buy life insurance from companies rated "A" by A.M. Best.
Second, to get the lowest cost, use an online service that provides quotes from as many of A-rated insurers as possible.
The QualityTermLife website offers a free service where you can get term life insurance quotes from over 50 insurance providers, anonymously.
Licensed Life Agent, Life and Finance/ 50 States, New York
Well as I work with multiple companies and hundreds of coverages in all 50 states. There are policies to fit anyone's needs. All the.companies are very creative. First you may want to look for price, extended coverages within policy, and the fairness of the agents. Most important is to speak directly to an agent for better consultation and quotes including the needs phase to find what's best.
Term life insurance is pretty much the same, no matter which company from which you buy it. Some things that could make one policy better than another are:
1) The premiums are guaranteed not to go up for the entire term.
2) The policy is convertible to a variety of permanent products, to the end of the term or past age 65, whichever comes first.
3) The policy is renewable.
Companies are mainly rated by agencies such as AM Best, S&P, Moody's, and Fitch. You can also look up complaints against a life insurance company, their customer service satisfaction, and other factors to help in your decision.
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First, for guaranteeing the reliability of the company, look only to buy life insurance from companies rated "A" by A.M. Best.
Second, to get the lowest cost, use an online service that provides quotes from as many of A-rated insurers as possible.
The QualityTermLife website offers a free service where you can get term life insurance quotes from over 50 insurance providers, anonymously.
1) The premiums are guaranteed not to go up for the entire term.
2) The policy is convertible to a variety of permanent products, to the end of the term or past age 65, whichever comes first.
3) The policy is renewable.
Companies are mainly rated by agencies such as AM Best, S&P, Moody's, and Fitch. You can also look up complaints against a life insurance company, their customer service satisfaction, and other factors to help in your decision.