How long the Insurance Company has been in business and how big it is in terms of asset size. Both of these do matter but probably not as much as you would think. You see just because a large company has been in business for a number of years typically will tell you that they understand the complexities of the Insurance business. But there are hundreds of smaller insurance companies that have been in business for just as long and meet their financial obligations just like their larger counterparts.
Have there been any complaints filed against the Insurance Companys that you are thinking or doing business with?
All Insurance Companys are regulated by the State Departments of Insurance which has been put into place to protect the consumer. The Dept. of insurance tracks complaints against Insurance Carriers and Agents alike and makes sure that the company is financially solvent. Remember though just about any Company will probably have some sort of complaint about them just like any large business serving thousands of customers, so don-t let complaints totally dissuade your decision entirely unless it is very apparent there are some serious issues with the company.
Agents and Brokers
Your life insurance agent or broker can also be great resources for you to help determine which Insurance Company’s plan fits your needs the best. Most good agents or brokers will have a number of years in the business and know how to work with the Insurance Companys in an efficient manner. They should also be appointed with a number of top quality, highly rated carriers, in fact, you should ask them how many carriers they represent. In closing, Insurance Companies are in business to produce a profit while at the same time provide a needed service to us all. The best company to work with will be the ones that provide you with products, prices recommendations and customer service that meets your needs. As always if you would like my opinion please drop me an email.