Question It seems that everyone wants to sell me a life insurance policy these days. How can I be sure I’m choosing the right company for life insurance?
Farmers Insurance® agent Curtis Corrado in Centennial, Colorado, gives his top three criteria for you to consider when choosing a life insurance carrier.
Answer One of the first things to consider is the financial stability of the insurance company. You want the company to have the resources to pay the death benefit to your beneficiaries as promised. There are several independent rating agencies — such as AM Best, Moody’s or Standard & Poor’s — that give “grades” to insurers based on their ability to pay claims and benefits.
For example, you can read AM Best’s evaluation of Farmers New World Life Insurance Company if you click here. (Please note this link is outside of Farmers® systems and Farmers is not responsible for the information in it.)
Next, research your options and decide what types of life insurance coverage you want. For example, do you want coverage on your children? Do you want to be able to claim a portion of your death benefit while you are alive in case you suffer a critical, chronic or terminal illness? Find out whether the company you’re considering offers everything you want. Don’t assume that all insurers offer the exact same products. They don’t.
Finally — and for many of the customers I serve, this is the most important factor — you should find an agent you’re really comfortable with. You’re going to be discussing some very personal topics, like your family situation, financial concerns and long-term goals. Trust and communication between the agent and customer are key to a successful relationship.
It only takes a few
minutes to discover
which type of life
insurance you may
want to consider.
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