When choosing a life insurance company, you should study the prices of various policies. “A lot of companies list low rates on their websites, but after getting medical check-ups, their clients often get a very high policy price, - said Byron Udell, CEO of AccuQuote, the national online life insurance agency. - After this mismatch, some potential customers are disappointed in voluntary life insurance and refuse industry products."
Life insurance rates for the same applicant can vary significantly from company to company. Some LICs may give better rates to people with certain medical conditions. There are insurers that offer discounts for smokers or people with cardiovascular diseases. “For example, if you’re diabetic, you can pay two to three times as much in one company as compared to another,” says Udell of AccuQuote.
The company’s financial performance should not be overlooked, as when buying a policy, the client enters into a long-term contract, which can take decades. The evaluation of such rating agencies as S&P, A.M. Best, Moody's, or Fitch Ratings plays an important role here. “Past performance does not guarantee future positive results, but insurers with high solvency are more likely to perform better,” said Barry Flagg, a founder of Veralytic, the company providing analytics across multiple markets.
Source: https://www.forbes.com/advisor/life-insurance/choose-right-company/
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