Is Your Life Insurance Or Annuity Safe?

It is important to have a financially strong insurance company to back up your life insurance policy or annuity. Otherwise, when you need the funds the most from your policy, the money may not be there for you or your beneficiaries!

  • Check out the insurance company’s ratings from several different sources. Companies with the highest grades are least likely to become insolvent. However with that said, keep in mind that insurance companies can pay some of these sources and that can be a conflict of interest. So you need to do some research with different sources to get a more accurate picture before you buy. Weiss Ratings seem to be the toughest grader and also doesn’t accept compensation from the companies it rates. Also the specific ratings for the exact same insurance company can vary from one source to another. In addition, the rating grade systems of each source can be very confusing. 

    Some of the rating sources are listed below. 
    • A.M. Best
    • Fitch
    • Moody’s
    • Standard & Poor’s
    • Weiss Ratings (Doesn't accept compensation of any kind from the companies it rates.)

  • What if your insurance company goes bankrupt?
    State guaranty associations can provide some protection to their residents, depending on the type and source where they purchase their life insurance or annuity from. There are also limits on our protection and they vary from state to state. Keep in mind that some Life Insurance “Certificates" issued by say for example, a Fraternal Benefit Society, possibly may not even be covered at all by the state guaranty association! A Guaranty Fund excludes coverage for “Policies” (Certificates) issued by a charitable organization, a fraternal benefit society, a mandatory state pooling plan, a mutual assessment company, or by an insurance exchange, or a grants and annuities society holding a certificate of authority under Section 11520.

Please take a few seconds to read what my actual clients have to say about my personalized service in their own words by clicking this link. Insurance Agents Reviews

Note: Life Insurance information can be confusing to many people. As an "independent licensed agent" I can explain things to you in simple terms so you feel comfortable making a decision. Then I can help you choose a life insurance policy, from many choices of different insurance companies, that you feel fits your needs. Plus if you choose to work with me you will have personalized service by a local agent that can shop premium quotes for you. If you would like my assistance to discuss and/or start the process of getting you insured please call me at 941-404-5334. 

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Why Choose Independent Agents?

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