Just like other financial entities, insurance companies are looking to make a profit wherever they possibly can. This can make shopping for life insurance hard, since some companies care more about making a profit than paying out claims. Luckily the experience of others can be found, and hardships can be easily avoided.
The first insurance company to remember is United of Omaha. United of Omaha is also referenced as Mutual of Omaha, and they have earned their reputed name thanks to the excellent pricing on long terms they provide. Terms should generally be bought in long periods, since coverage premiums typically go up after the first coverage period ends.
There is a big leap between small business and big business- usually it’s as simple as offering benefits and regretfully informing employees the business isn’t large enough to give out benefits. But even for medium-sized business, getting life insurance policies for the entire business as a whole is possible through insurance companies such as Union Central Life Insurance, who in particular has earned a good name for themselves through many good relations with businesses.
If a wide range of insurance topics is desired, Transamerica may be a good choice. Transamerica has been around for a long time, and has obtained many excellent reviews in their time of existence. In addition, they offer everything from personal finance consulting to 401k planning- so they aren’t your typical life insurance company; but rather a great resource for consumers and businesses alike.
Reliastar Life Insurance Company is another favorite, of which has made an impact on the life insurance industry with over $20 billion in assets. With a company managing so much money year after year, consumers can usually put their complete faith into Reliastar as a dependable and trusted leader in life insurance. But, as always, “shopping around” is always a good idea.
As a last note of importance, be sure to search out as many life insurance companies as you can get a hold of. Visit local insurance policy providers, ask friends, and search the Internet for every policy available. Being proactive about finding the perfect rate, term, and plan coverage can save the consumer or business thousands over the course of a term. If problems arise, never hesitate to get financial counseling through government and local resources.
In the end, life insurance is a tough game. Finding a good solution will take up to a few weeks for the cautious types, so try to stick it through and keep determined throughout the process.
Author: Chris ChanningThis author has published 19 articles so far.