There are a variety of life insurance policies out there so it’s important to determine which one best fits your need. Term life insurance is by far the most straightforward and affordable. You pay a set amount for a set number of years. If you pass away within that time-frame, your beneficiaries get the designated amount. Whole life is a little more complicated but might be something you want to consider.
Picking the right life insurance company can take time so don’t fret if it’s taking longer than you expected. At Ethos, we’ve streamlined the application process so the most difficult part is figuring out what you need.
With so many life insurance companies, brokers, and agents out there, I’m sure you’re skeptical that not everyone has your best interest at hand. And that’s true. Agents and brokers usually get commissions on the policies they sell so be wary of them trying to sell you additional policies that you may or may not need.
As for the life insurance company, you should make sure they have great customer service. Making changes to your policy or having your beneficiaries collect on your policy shouldn’t be a headache. Look at customer reviews to see what existing customers have said about them.
At Ethos, we want to create a spectacular customer experience which is reflected in our customer reviews.
The very best life insurance companies have strong ratings from third-parties that measure their financial strength. This means the better their rating, the more likely they’re able to pay out claims now and in the future. This is important because your policy term can last decades and you’ll want the company to be around in the event you pass away. There are a bunch of agencies you can look at but the best are A.M Best, Fitch Ratings, Moody’s, and Standard & Poor. It’s important to remember that they each use a different rating system.
At Ethos, our underwriter, Assurity Life was given an A- by A.M. Best, which is in the highest tier you can get.