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If you’re a senior consumer, you might be interested to know that the A.M. Best Rating Agency has recently released its new rating system for insurance companies and what it means for your future coverage needs.
This article will help inform consumers about how they can use this information to make an informed decision when choosing their next provider of insurance protection.
We all want our relatives and loved ones to live as long as possible with quality care, but without proper planning or funds, we cannot guarantee they’ll have the necessary resources in a time of need.
As a result, seniors are turning more often than ever before to life insurance policies which provide them with peace of mind while also allowing them ample opportunities for financial stability if something unexpected were to happen tomorrow.
About A.M. Best Rating Agency
A.M. Best is a precious resource for anyone looking to secure the life insurance policy. Also, because they provide excellent evaluations of different insurance companies.
Choosing a life insurance company is one of the most important decisions you’ll ever need to make. There are so many insurance companies out there; you’ll want to make sure you only work with the best.
A.M. Best is a very valuable resource for anyone looking to get life insurance.
A rating agency like A.M. Best can point you in the right direction and give you an idea of the most reliable insurance companies. Remember, before you buy a life insurance policy, you always want to shop around several companies to compare, before settling on a policy. This way, you are more likely to receive the best coverage at the lowest rates possible.
What Rating Scale Does A.M. Best Use
Regarding ratings information the press release is out. LOL And before reading their ratings, you’ll want to know what each rating means. You should understand the rating scale before buying your life insurance policy. Below, we’ll highlight the meaning of their letter rankings:
- D Rating — This means stay away. This is the worst rating that A.M. Best will give out, and it’s only given out to the insurance companies that don’t even meet the minimum standards for providing quality insurance.
- C+ and C++ Rating — Not showing off, not falling behind. These C ratings are given out to an ordinary insurance company that merely meet the minimum standards.
- B-, B, B+, and B++ rating — Any insurance company with a B rating means they have proven themselves to be pretty reliable, and their features are likely a bit above average. However, they aren’t quite the most recommended companies.
- A-, A, A+, and A++ Rating — Any kind of A grade are only given out to them. More than likely, this is where you’re going to find the highest quality life insurance coverage.
Now, you’re ready to check out their website and find out which life insurance companies you’ll want to meet with.
AM BEST AND LIFE INSURANCE BEST RATING AGENCIES
In conclusion, we have explained in detail why A.M. Best is the superior rating agency. However, there are other agencies that also provide the financial stability of life insurance companies. A clear difference, they all have different ways and methodologies on how to come up with a rating for a life insurance company. Again, we believe A.M. Best is the best rating agency, but some may want to look at all the ratings of the 10 best life insurance companies.
Ratings reflect a companies reputation. Over a period of time there is a balance sheet of what the ratings reflect. By comparison, these financial rating services rank insurance companies based on their financial strength and stability. Before you buy, check out the insurance company’s financial credit rating:
- A.M. Best Co. (www.ambest.com)908-439-2200
- Fitch Ratings (www.fitchratings.com)800-893-4824
- Moody’s Investor Service, Inc. (www.moodys.com)212-553-0377
- Standard & Poors (www.standardandpoors.com)800-523-4534
- Weiss Ratings (www.weissratings.com)877-934-7778
HOW DOES CHOOSING A LIFE INSURANCE IMPACT MY COVERAGE
Life insurance companies are all so different. Whether term life insurance, universal life regarding rating organization and insurance quotes on a business profile, the rates vary drastically between companies. As does the customer service, policy features, and overall quality of coverage. Therefore, we always recommend that you compare several life insurance companies before deciding.
After all, choosing a life insurance policy is one of the most important financial decisions you can make. It directly impacts you and your loved ones. A good life insurance company will be able to keep your family financially secure long after you pass. Therefore, you’ll want to make sure you’re working with the best companies. That’s where A.M. Best can help because they specialize in rating just how financially stable these companies are.
MORE ON A.M. BEST
A.M. Best is just one of many rating companies out there, but they’ve established themselves as one of the most accurate and reliable. They’ve been around since the 1890’s, so they have a world of experience in assessing financial stability.
They have ratings for companies all over the globe, not just the United States. We highly recommend using them as a resource when deciding on a life insurance policy and/or company. They can help you make a much more informed decision. You certainly don’t want to have your family suffer your loss, inherit debts, pay for final expenses, and have zero financial security all at once.
WHERE CAN I GET THE BEST QUOTE FOR LIFE INSURANCE
First, PinnacleQuote Life Insurance is here to help. Second, Speak with one of our agents, and they’ll be able to answer any and all of your questions.
Third, We can help set you up with the best life insurance companies and find the most reasonably-priced policies for you.
Finally, Working with us will save you a tremendous amount of time, energy, and money.
Danny Ray ~Owner/Agent of PinnacleQuote Life Insurance Specialists
My name is Danny Ray. I am the Owner/Independent Agent of PinnacleQuote. We are based out of Jacksonville, Florida. Right in Duval County, home of the Jacksonville Jaguars! By my side is my fiance, Lisamarie making this family owned business my passion.
In the long term my plan and my goal is not to “sell” life insurance but to “educate” the art of life insurance. In this insurance industry, we are finding way to many families not protected. Remember, life insurance is not for YOU. It is for the ones you love, who you leave behind.
So if you have any questions from a.m. best ratings to term, whole or replacement policies, call me today. (855) 380-3300 extension 1. If you would like to set up a phone appointment, call Lisamarie (855) 380-3300 extension 2.
A.M. Best is a precious resource for anyone looking to secure a life insurance policy and make an informed decision on which company to choose. They also provide excellent evaluations of different insurance companies, so you can get your coverage needs to be met with confidence knowing that you’re getting what’s best for you! Don’t wait another day; let us know how we can help today by filling out this quick form or calling our number (855) 380-3300.