Why is it important to get quotes on a life insurance policy?
Life Insurance premimums vary wildly, your choice should be based on the company’s history and health. All Insurance companies are state regulated but will have a state of incorporation and this is often Mississippi since they have very liberal insurance laws that benefit the policy issuers themsevles. Your criteria in picking companies should include how long the company has been in business and they should be AAA rated by Fitch or Moodys or AM Best. If they aren’t well rated or rated at all, then the likelihood of the company going out of business or being unable to pay your claim is higher than acceptable and paying them a premimum is a waste of money. Some companies like New York Life, are considered the most expensive and their benefits or method of payment aren’t really better than any other AAA rated company. Trying to determine which Life Insurance companies are better when your beneficiaries files a claim is hard to determine since there doesn’t seem to be a single or a few re
