When you’re shopping for life insurance, it’s important to not only consider the type of policy that’s right for you, but also the life insurance company that’s right for you. Not all life insurance carriers are the same, and while some might look good on the surface, there might be a better option out there for you. In this article, we’ll talk more about comparing life insurance companies, what to look for in a carrier and how SelectQuote can help.
How to Compare Life Insurance Companies
Comparing life insurance companies and their coverage options can seem intimidating, but at SelectQuote, we make the process easy. We’ll get to know your needs, find options available to you and provide you with tips for buying life insurance. Here are the four main steps to consider when comparing life insurance companies.
1. Determine the Type of Life Insurance You Want
When it comes to comparing life insurance companies, you want to determine the types of coverage they’re known for carrying well. Once you’ve considered term vs. whole life insurance and figured out what kind of coverage sounds right for you, you’ll have a better idea if you should compare term life insurance companies or compare whole life insurance companies.
2. Look at the Company’s Premiums Based on Policy Type
A solid factor to consider when you’re shopping for life insurance is how much it’s going to cost you. The cost of life insurance can vary not only from person-to-person, but also from carrier-to-carrier. Jumping from one site to another and looking at premium examples for particular policies can be time consuming and seem overwhelming, but at SelectQuote, we can do all the hard work for you. In just minutes, we can compare life insurance coverage and rates of the types of policies you’re interested in to find the right coverage for you.
3. Evaluate if the Company Has Any Specialized Areas or Products
Some carriers primarily excel at one type of coverage, which is important to consider when comparing life insurance companies. The best life insurance policy at one carrier might look different with another carrier, so it isn’t always as easy as comparing apples to apples. Let us help take the pressure out of shopping for life insurance and do the work for you.
4. Consider Life Insurance Company Ratings
Much like any other company, insurance carriers are given ratings based on a number of factors—typically customer satisfaction, financial strength and cost. This can help you determine which carrier is right for you when comparing life insurance companies. Reputable claim handling and highly rated customer service can go a long way for a life insurance company, but it’s important to consider all factors reviewed when looking at life insurance company ratings.
SelectQuote Works with Trusted Life Insurance Companies
At SelectQuote, we work with some of the most trusted life insurance companies in the nation to help you find ways to save time and money. The life insurance companies we partner with can provide favorable life insurance rates for all types of situations, giving you the power of choice when securing the right life insurance for you.