The 3 Best Whole Life Insurance Companies of 2015. #annual #credit #report

#life insurance companies
#

Best Whole Life Insurance Companies

Policy riders

Best Whole Life Insurance

How we narrowed down the field.

Choosing the best whole life insurance is difficult because there’s a variety of policy riders and contract provisions to consider. The potential permanence of whole life coverage means it’s critical to conduct this research carefully.

Financial Strength

Financial strength ratings indicate the company’s long-term stability. This is critical when considering a whole life insurance policy because you want to be sure the company’s going to be around when you need them. There are several organizations that assess financial strength, including A.M. Best, Moody’s and S P. Reviewing their scores is a good place to start when determining a company’s financial stability. All three companies listed above have high ratings, but State Farm and MassMutual stand out by earning the highest possible score from A.M. Best.

Coverage

Figure out how much life insurance coverage you need and build your policy around that. For younger buyers, a company like MetLife, with low coverage minimums, is a good place to start. Level premiums and a guaranteed minimum interest rate add stability to your policy, but you also want flexibility. Partial surrender, disability waiver of premiums, and a vanishing premium option can help with this. All three companies offer these, in addition to flexible coverage limits, making them well suited to a range of individuals.

Policy Riders

Policy riders enable you to customize your policy even further. Add extra protection for your estate, long-term care, family members, and final expenses. A whole life guaranteed insurability rider is another one to look out for. This ensures your future insurability at standard rates without providing further proof of insurability. All companies on this list offer a nice selection of policy riders, but MetLife falls slightly behind the other two by not offering a long-term care rider.

The Bottom Line

Policy riders enable you to customize your policy even further. Add extra protection for your estate, long-term care, family members, and final expenses. A whole life guaranteed insurability rider is another one to look out for. This ensures your future insurability at standard rates without providing further proof of insurability. All companies on this list offer a nice selection of policy riders, but MetLife falls slightly behind the other two by not offering a long-term care rider.





Leave a Reply

Your email address will not be published. Required fields are marked *