We Can Provide Information, Feedback, and Advice ..
The coolest thing about our job is we don’t view ourselves as Salesmen! You must purchase Life Insurance through a licensed Agent, but as an Independent Brokerage representing ALL the top companies, we view ourselves as more of a facilitator to the process. Therefore, the answer to the question if you can choose any company you like!
Of course, chances are, you are no expert in the Term Life Insurance industry and that is where we come in as we can provide Information, Feedback, and Advice on all of these companies that is based from decades of personal experience doing business with them. Clients often comment that they are not familiar with many of the Term Life Insurance Company names.
The explanation to that is quite simple: Because the Term Life Insurance companies rely on a network of Independent Agents to bring their business to them, they generally do not spend a lot of time and money branding their name or advertising their business since they just end up referring consumers to an Agent anyway. And, some of the companies operate as stand along subsidiaries of larger well known companies — American General Life for example is part of AIG.
In terms of the financial solvency and safety of the companies, rest assured the Life Insurance industry is the most strictly regulated in any of the financial industry with safeguards to make it nearly impossible for any company to go under. In the unlikely event this did occur, each state has a Guaranty Association that is meant to protect policyholders from insolvent life insurance companies.
All licensed life insurance companies must be members of their state’s Guaranty Association.
If a company is found by the association to be insolvent, they will be liquidated and their policies will be transferred to a solvent life insurance company. The Guaranty Association provides limited coverage to the policyholders of the company in question, according to the specific laws of each state. You can see how much coverage the Guaranty Association in your state allows.
We limit our comparisons to companies rated A or higher by A.M. Best and are happy to share with clients feedback on our experience with all these companies when it comes to Customer Service, Processing times, etc. In order to fulfill our promise to our clients, we feel strongly part of our responsibility is providing information and answering questions to help you pick a company with whom you are comfortable and confident you are getting the best policy for your needs.
