Recently moved to Dallas, TX for a new job and I want to take out a life insurance plan (my employer doesn’t offer group life coverage unfortunately). Any tips on how to find the best life insurance companies around here?
Finding the best life insurance Dallas Texas provider can be tricky, but it can be done. You just need a bit of patience and know-how to be on your way to the best rates coming from a quality life insurance provider. Here are some great tips to get you started:
Tip No. 1. Compare the Best Deals
There are hundreds of life insurers out there, each offering different rates. Take advantage of that fact by comparing as much rate offers from as many providers as you can. This can easily be done by using life insurance comparison portals like this website, which allows you to run a free quote check so you can maximize your ability to find the best deals.
Tip No. 2. Find the Best Life Insurer
Independent rating agencies like Moodys, J.D. Power and Fitch give valuable consumer information that can help you spot the best companies (specifically, the best life insurer) to do business with. Visit their websites and find out which life insurance company in your state has the overall-best score.
Tip No. 3. Check-out the Better Business Bureau Website
A lot of times it helps to know the background of a company you’re dealing with, especially if this is a company you’ll be relying on for a very long time. The Better Business Bureau website contains a wealth of information to tell you about any filed complaints or records of any shady business practice against the company you’re looking to buy life insurance from.
A company tells me that they have one of the best life insurance ratings in Dallas Texas. How can I check if this is true or not?
Wow! A company really told you that they have the best life insurance ratings? At this point, I can think of two things. Either they are really good or they’re just stringing you along to get your hard earned money. Before I answer your question, let me ask you this, how important is a company’s rating?
The short answer? Very. A company’s rating reflects a lot of things like its financial stability, future plans and even capacity to play claims. The higher the ratings, the bigger are your chances of getting paid by that company. Ratings are easy to follow since they are like the grades you had when you went to school. So if you want a top rated company, then it should have a rating of A up to A++. If the company bragged to you their ratings, then you should expect them to have these ratings. So where can you check for these ratings? There are a lot of these but I can trim them down for you to these five: A.M. Best, Fitch, Moody’s, Standard & Poor’s, and Weiss. I recommend you go first with A.M. Best since they focus on insurance companies.
But then again, since they were the ones who said that they had the best life insurance ratings, why not ask them about it? Call their customer service and ask for copies of their ratings. If possible ask for ratings from the five rating agencies that I previously mentioned. If they are hesitant to give you copies of it, then we both know what that means now do we?
If an agent was responsible for referring you to that company in Dallas Texas, then ask the agent for a copy of the ratings. If the agent claims that he doesn’t know anything, then question his ability to conduct due diligence. You can also ask your agent what the ratings mean if you have trouble understanding them.
It is your money that is at stake here. If an insurance company tells you that they have the best life insurance ratings, due your part and make sure that they do.